First, the definition of credit card
Credit card is a credit certificate issued by a commercial bank or credit card company to eligible consumers. The form of credit card is a card with the name of the issuing bank, expiration date, number and cardholder's name printed on the front. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limit.
Second, the validity period of the credit card
Generally, the validity period of a credit card is 3-5 years, and the bank will issue a renewal notice to the cardholder one month before the expiration of the credit card. If the cardholder fails to renew his credit card in time when it expires, the credit card will be invalid and he can't continue to use it for consumption. If there are still outstanding bills when the credit card expires, the cardholder can still repay normally. If the cardholder needs to cancel the credit card, the cardholder will take his ID card and credit card to the bank counter to fill out the application form for credit card cancellation, and there is no debt in the credit card. Before canceling the credit card, you need to pay off the money in the card and stop using the credit card. Wait 45 days to officially cancel. After the official cancellation, you can destroy the card.
legal ground
Measures for the supervision and administration of credit card business of commercial banks
Article 64 The issuing bank shall provide credit card account cancellation service, and cancel the account for the cardholder in time after confirming that there is no outstanding amount in the credit card account. When the credit card is cancelled, the balance of the business procurement card account should be transferred back to its corresponding unit settlement account.
On the premise that the notification method is stipulated in the credit card collection contract (agreement) or written agreement, the issuing bank shall notify the cardholder of the upcoming changes in the credit card articles of association, products and services in clear, concise and easy-to-understand language more than 45 days in advance.