Can I transfer money with a credit card?

Credit cards cannot transfer money directly.

1. A credit card is a debit card. The overdraft limit in a credit card is an amount of money granted by the bank to encourage the cardholder to use the card for consumption. Transfer is not consumption, so it does not belong to a credit card. basic functions.

It is understood that the credit cards of several banks such as Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and China CITIC Bank can transfer funds to the savings cards of peers but cannot realize inter-bank transfers. Bank of China, Bank of Communications, Guangfa Bank, Several banks, such as China Merchants Bank and Ping An Bank, can transfer credit card overdraft amounts to peer savings cards, and also support inter-bank transfers of credit card overdraft amounts. However, the handling fees for inter-bank transfers of credit card overdraft amounts are relatively high, and there are many restrictions on handling them.

2. Credit card transfers are the same as cash withdrawals, and are subject to a certain limit, and also charge handling fees and interest; in addition, credit card overdraft transfers need to be processed through online banking or telephone banking, and cannot be done at the bank counter or self-service Completed on the device, the limits, fees and interest standards are the same as those for credit card cash withdrawals.

If the cardholder uses a credit card to transfer money, the bank will charge an interest of 5% per day, and a one-time handling fee of 1% based on the transfer amount. If the cardholder forgets to repay the loan, he or she will also have to pay overdue penalties. The standard is 3% of the total overdue amount and not less than 30 yuan; if the cardholder repays the loan in advance, an early repayment fee will be required. The amount is 2% of the transfer principal, and the new features enjoyed by credit card transfers are expensive.

Swiping your card on a POS machine is the most common way to use a credit card, and it is a way of swiping your card online. When swiping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding POS machine according to the card issuing bank and the currency type to be paid, and slide the magnetic stripe of the magnetic stripe credit card on the POS machine, or insert the chip credit card into the card slot, connect to the bank, etc. for payment, and enter the corresponding amount.

After the remote payment accepts the information, the POS will print out a receipt for the card payment (at least two copies). The cardholder should sign the receipt after checking that the information on the payment receipt is correct. After the operator checks the signature on the receipt and the signature on the back of the credit card (including that the name completely matches and the handwriting basically matches), the operator gives the credit card and a copy of the card payment receipt to the cardholder. At this point, the card swiping procedure on the POS machine is completed.

Credit card transfers are possible, but there are restrictions. According to the regulations of a certain bank, under normal circumstances, when using a credit card to withdraw cash overdraft, the daily limit of cash withdrawal is 2,000 yuan. The handling fee is 1% of the cash withdrawal amount, with a minimum charge of 10 yuan. In addition to the procedures, the daily cash withdrawal amount will also be charged. Five percent interest.

To make a credit card transfer, you must have a debit card from the bank and open one of telephone banking, online banking, and mobile banking. After transferring and borrowing cash, cardholders must pay for it and pay related fees. Interest of 0.05% is charged every day, and relevant handling fees are also charged.

So credit cards can transfer money, but there is a limit and the handling fee is not low. If you really need to transfer money, you can open online banking for your credit card. After successful registration, log in to the credit card online banking with your ID number, the login password you entered during registration, and the additional code prompted to complete the credit card transfer.

It is recommended not to transfer by credit card, as a large number of other fees will be incurred.

Disadvantages of using credit card transfers:

High cost of cash withdrawal: Not only do you have to pay a handling fee to withdraw cash by credit card, but you also cannot enjoy the interest-free period for normal consumption. Interest will be calculated at 50,000 per day from the day the cash is withdrawn into your account until the balance is paid off.

Full repayment is required during repayment: cash withdrawal is different from overdraft consumption. Full repayment is required on the repayment date, and cannot be paid in installments or at a lower rate. If the user's own repayment ability is limited and he uses a credit card to withdraw large amounts of cash, it will inevitably cause difficulty in repayment. .

There are two situations when transferring money from a credit card to a bank card:

1. If you transfer too much money to your credit card, you can transfer the excess payment that exceeds the credit card limit to your own name. Debit card from the same bank. A handling fee of 0.5-3 is charged when transferring money, mostly 1.

2. If your credit card has a cash withdrawal function, and you have also opened one of online banking, mobile banking, and telephone banking, you can transfer money to the debit card you are changing to, but the maximum limit is only the credit card limit. Half, the daily quota is often only about 2,000 yuan. (If you cannot find the transfer entrance through the above three methods, you can transfer money directly through an ATM.)

In general, credit card transfers are not cost-effective.

First of all, credit card transfers will have a handling fee of about 1, usually starting from 10 yuan; secondly, unlike direct consumption, which has an interest-free period, transfers are regarded as cash withdrawals, and will be processed directly from the day of transfer at a daily rate of 10,000 yuan Interest is calculated at an interest rate of 5/5, with a total annual interest rate of 18.

The most important thing is that cash withdrawals and transfers cannot be made in installments, and must be paid off in full on the repayment date. Once it is overdue, in addition to penalty interest, it will also affect your personal credit score. In an era where credit is becoming more and more important, credit cards must be used wisely. It can be used appropriately for consumption, but do not overdraw. Try not to use the cash withdrawal function to avoid becoming dependent and paying more interest.

Can credit cards be transferred

Normally, credit cards cannot be used to transfer money directly. If you want to use a credit card to transfer money, you can use a credit card to withdraw cash, but this method Not only do you have to pay a certain handling fee, but you also have to pay a daily interest rate of 0.5%. Another way is to transfer funds via credit card overpayment, which also charges transaction fees.

There are two possible ways to transfer money by credit card:

1. The first way is through cash advance: using the credit limit of the credit card to perform the transfer operation. Normally, the bank will The transfer amount 1 is charged as a handling fee, and interest will accrue on the day of withdrawal. The interest is generally calculated at 0.5%.

2. The second way is through overpayment: If you use overpayment to transfer, you don’t have to pay interest, but you still have to charge a transfer fee. The charging standards of each bank are different. The specific The situation still depends on the card issuing bank’s regulations.

1. If the credit card cannot be transferred, it may be due to the following reasons:

1. The transfer amount has exceeded the overdraft withdrawal limit stipulated by the card-issuing bank. For example, China Construction Bank stipulates that the daily limit per card for mobile banking and personal online banking channels is 20,000 yuan, and the monthly limit is 50,000 yuan.

2. All the cash withdrawal limit in the card has been withdrawn, but the customer has not yet repaid, so there is currently no cash withdrawal limit in the card, so transfers cannot be performed. However, as long as the customer repays the loan on time and the credit limit is restored later, the transfer can be made.

3. The status of the card is different. The magnetic stripe/chip may be damaged; or the account may be frozen by the card-issuing bank, resulting in temporary unavailability. If there is a problem with the receiving bank card, the transfer will not be successful.

4. Credit cards cannot transfer funds to each other. If customers want to transfer money, they can only transfer it to a savings card, which is actually equivalent to a cash advance.

5. The online banking/mobile banking system is busy and is undergoing repairs due to malfunctions.

6. The operation speed is too fast, resulting in timeout.

7. The network connected to the device is not good.

2. Whether credit card transfers count as consumption

Different banks have different regulations on whether credit card transfers count as consumption. Defined according to the rights and benefits of credit card consumption: CITIC Bank credit cards (except New Network Co-branded Card, Yue Card and I Platinum Card, etc.) ordinary card purchases or cash withdrawals will earn 1 point for 1 yuan or HKD. You can earn 8 points by withdrawing 1 US dollar or Euro, and the points for gold or platinum cards are doubled. However, most banks do not recognize credit card transfers or credit card cash withdrawals as consumption. Industrial and Commercial Bank of China and China Merchants Bank clearly point out that credit card cash withdrawals and transfers do not count as consumption, and points cannot be accumulated.

The credit card consumption behaviors that Bank of Communications and China Construction Bank do not recognize clearly include: transfer transactions, cash withdrawal transactions, and some online transactions.

3. Whether it is possible to transfer money to repay a credit card

Transferring money to a credit card is considered repayment, so if there is a debt on the credit card, the cardholder can transfer money to repay the credit card. Currently, cardholders can transfer funds to credit cards through online banking, ATM machines, bank counters and third-party payment platforms. It should be noted that transferring money to a credit card will turn into an overpayment when there is no outstanding balance on the credit card. And if the cardholder does not use the credit card for a long time, resulting in overpayment, it will become a credit card bad debt over time. Therefore, when cardholders transfer funds to their credit cards, they must first check the balance outstanding on their credit cards to avoid making excessive transfers.

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Can the credit card limit be transferred to others?

No, the credit card limit cannot be transferred to others. Each person has one credit card. The credit card can only be used by the credit card owner. You can apply for an additional card, and this additional card can be given to others. used.

Can I transfer money with a credit card?

Credit cards cannot transfer money to others. The function of a credit card is mainly consumption, supplemented by cash withdrawal, and cannot transfer money, so cardholders cannot use the credit card to transfer money to others. Credit cards also have certain restrictions on cash withdrawals. Usually, the maximum cash withdrawal limit can only be 50% of the credit limit of the credit card. And cash withdrawals also require interest and handling fees.

The credit card limit is a credit limit granted by the bank based on the applicant's comprehensive personal situation. The cardholder can only use the credit card limit for consumption or cash withdrawal. The function of the credit card is based on consumption. Cash withdrawal is the only option and transfers are not possible.

If you want to transfer the money in your credit card to others, you can only withdraw the money through the credit card cash withdrawal function, and then deposit it into your own debit card or third-party payment platform before you can transfer the money to others. However, there is a limit to the existing limit and a certain fee will be charged.

Usually, the maximum credit card cash withdrawal limit is 50% of the credit limit. Only a few credit cards have a cash withdrawal limit that can reach 100% of the credit limit. Moreover, credit card cash withdrawals cannot enjoy the interest-free period. Cardholders need to start from the day of cash withdrawal. , the cash withdrawal interest is paid according to the daily interest rate of 0.05 on the cash withdrawal amount. In addition to the cash withdrawal interest, the cardholder also needs to pay a cash withdrawal handling fee. Different banks have different credit card cash withdrawal handling fees, usually the rate is around 1-3.

That is to say, if you want to withdraw cash through a credit card and then transfer it to a friend, you will need to pay a handling fee of about 100 yuan to 300 yuan to withdraw 10,000 yuan.

A credit card is a kind of credit card. It is a payment tool provided by banks to eligible cardholders for early consumption. Credit cards do not have a transfer function, so they cannot be transferred to others. We use credit cards to swipe payments. The bank's money is not your own money. Banks issue credit cards to encourage people to use their cards to spend more, rather than to allow credit card holders to withdraw cash. Therefore, credit cards can only enjoy the interest-free period after swiping their cards to make purchases and repay the money on time, while withdrawing cash with credit cards Not only do you need to pay interest, but you also need to pay cash withdrawal fees.

After using the credit card limit for consumption, credit card users only need to repay the money on time and in full within the specified repayment period, then they can enjoy the interest-free period service. If the cardholder is unable to meet the specified repayment period, If you want to pay off the debt within the specified period, you can choose to repay in installments or the minimum repayment. If you choose to repay in installments, you will need to pay an installment fee. The minimum repayment cannot enjoy the interest-free period, and you need to pay the minimum repayment interest at a daily interest rate of 0.05. .

That’s it for the introduction of whether the credit card limit can be transferred.