Credit cards can be used for overdraft consumption or cash withdrawal, but cash out is not allowed. As banks adjust their credit card business, minimum repayments cannot be used for credit card cash withdrawals. Many friends think of using credit card automatic rebate codes to withdraw money. So, is this practice legal?

Is credit card automatic chargeback code illegal?

The principle of credit card automatic chargeback QR code and credit card POS cashout are the same. It’s just that the cash-out tool has changed from POS machines to QR codes. And we all know that cashing out on credit cards will not only harm the interests of banks, but also disrupt the country's financial order. It is an illegal act and is not allowed by supervision.

What does the credit card automatic chargeback code mean?

The credit card automatic payment QR code is actually a merchant that has opened Alipay credit card payment and provides the QR code to the cardholder, allowing the cardholder to scan the code with Alipay and pay with the credit card, and then the merchant collects the payment. After the money is received, the remaining money after deducting the handling fee will be transferred to the cardholder's Alipay account.

Essentially, credit card automatic chargeback codes are given or cashed out, which is illegal and involves certain risks. If you pay by scanning the code and the other party does not send money, it is easy to cause financial losses to yourself. , so it’s best not to try it easily.