No fees will be incurred if it is not activated. The China Banking Regulatory Commission has clear regulations on this. The cardholder must bring his or her ID card to activate before the annual fee and other fees can be charged.

Article 5 of the 15 new credit card regulations issued by the China Banking Regulatory Commission is: 5. Before the cardholder activates the credit card, banking financial institutions shall not deduct any fees. Except for authorizing banking financial institutions to deduct fees through electronic signature.

However, if the bank clearly informs the cardholder when applying for a credit card that "the applied credit card will also charge an annual fee if it is not activated", and the cardholder agrees to this provision through signature, etc., then the bank It is legal to charge an annual fee if the credit card is not activated.

Extended information:

Credit cards are not allowed to be issued to students under the age of 18

The notice requires that credit cards (supplementary cards) are not allowed to be issued to students under the age of 18 except). When issuing credit cards to students who are over 18 years old and have no fixed job or stable source of income, a second source of repayment must be established, and the second source of repayment must have the corresponding repayment ability.

Before issuing a credit card, banking financial institutions must confirm that the second repayment source has agreed in writing to assume the corresponding repayment responsibility, otherwise the card will not be issued. Banking financial institutions should conduct due diligence on credit card applicants' credit levels and repayment abilities. Applicants should have a fixed job, a stable source of income, or provide reliable repayment guarantees.

If the applicant cannot meet the above conditions but it is indeed necessary to issue a card, the banking financial institution shall clearly stipulate the applicable scope of card issuance and establish a corresponding card issuance management mechanism. The applicant must confirm the second source of repayment, and the second source of repayment should have the corresponding repayment ability.

Before issuing a credit card, banking financial institutions must confirm that the second repayment source has agreed in writing to assume the corresponding repayment responsibility, otherwise the card will not be issued. Banking financial institutions should strictly control the issuance of credit cards to applicants who have been granted credit cards by other banks, but there is a large gap between the customer's personal repayment ability and the accumulated credit limit of each bank.

No fees may be deducted before activating the credit card

The notice requires that when opening a card, marketers must fully inform the applicant of the credit card's charging policy and penalty interest policy. The notice specifically states that before the cardholder activates the credit card, banking financial institutions are not allowed to deduct any fees, unless the cardholder authorizes the banking financial institution to deduct fees in writing, a customer service center phone recording, or an electronic signature.

Reference material: China Banking Regulatory Commission issues 15 new rules for credit cards - Baidu Encyclopedia