Can a credit card be used as a debit card?

A credit card cannot be used as a debit card.

Credit cards and debit cards are two cards with different functions, and their uses are very different. Debit cards mainly provide a medium to meet cardholders' needs for liquidity, investment and financial management, and transfers. Debit cards mainly have the functions of overdraft, large installment and fast payment. Therefore, under certain conditions, credit cards cannot satisfy the savings function of cardholders.

A savings card is a financial transaction card issued by a bank to provide financial services to depositors. It is a type of debit card and has two types: magnetic stripe and chip. Its main function is to make deposits and withdrawals at networked ATM machines and bank counters, and to make purchases at networked POS.

The main function of the savings card is savings deposits. Through the electronic payment network established by the bank and the magnetic stripe reading and manual password entry of the card, cardholders can realize card consumption, ATM cash withdrawals, transfers, and various other transactions. For functions such as bill payment, expenses incurred through the card are equal to the reduction in the balance of the savings account. The account balance is zero and the card's payment function is reduced to zero. Applying for a debit card is very simple and does not require bank approval. Generally, it can be applied and withdrawn immediately.

The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit limit.

CreditCard is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. The form of a credit card is a card with the name of the card-issuing bank, validity period, number, cardholder name, etc. printed on the front. Consumers holding credit cards can go to a special commercial service department to shop or consume, and then the bank will work with the merchant and the cardholder to The cardholder can make an overdraft within the prescribed limit.

Credit card, also known as credit card, is a non-cash payment method and is a simple credit service. Credit cards are generally plastic cards with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. They are issued to cardholders by banks or credit card companies based on the user's creditworthiness and financial resources. Cardholders do not need to pay cash when making purchases with a credit card. Make further repayments.

Except for some credit cards that are combined with debit cards, general credit cards are different from debit cards and cash cards in that credit cards will not directly deduct funds from the user's account. In February 2012, the bank confirmed that credit cards without passwords are more secure, and they share the responsibility for any fraud. Enjoy an interest-free period of 25-56 days (or 20-50 days). Card consumption enjoys an interest-free period, and if you pay off the bill before the due date, no fees will be incurred. There is no interest-free repayment period for cash withdrawals, and a daily interest rate of 0.05% will be charged from the day of withdrawal. The bank will also charge a certain percentage of cash withdrawal fees.

Can I deposit money with a credit card?

You can deposit money with a credit card. Although you can save money, there is no interest because the main purpose of a credit card is for consumption, not deposits and withdrawals. The money stored in the credit card is called overpayment. There is usually a handling fee for withdrawing the overpayment, but some banks will also waive the handling fee for overpayment withdrawal.

1. What is a credit card?

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

2. Credit card deposits

Credit card deposits refer to the money that enterprises deposit into bank credit card accounts in accordance with regulations to obtain credit cards. You can deposit cash with a credit card, but there is no interest on standard credit card deposits, and you need to pay a handling fee when you withdraw the deposited money (this situation is called overflow recovery).

However, there are also some special cards with savings functions, so before applying for a credit card, you must read the terms and be aware of them.

Before applying for a credit card, it is best to carefully read the regulations or cardholder instructions to understand whether the card carries interest, so as to avoid unnecessary misunderstandings and financial losses. Credit card deposits are neither settlement claims nor deferred expenses.

3. What is excess deposit?

Depositing excess money on a credit card without overdraft is called an excess deposit. When you withdraw money from your credit card, the bank will charge a handling fee of 0.3-3 and calculate interest at 0.05 per day. Therefore, when we withdraw the excess deposit from the credit card, a handling fee will be deducted for the excess deposit, and a daily interest rate of 0.5% will be charged every day. What should I do if I have already put money on my credit card? We can spend by swiping the card and use the excess deposit to repay the shortfall first when the next month's bill comes out, and we will need to pay extra.

Can a credit card be used as a debit card?

A credit card cannot be used as a debit card, because debit cards have many functions that credit cards do not have:

1. Deposit Money: Deposit cards have interest, but credit cards have no interest;

2. Withdrawal: There is no fee for withdrawing cash with a debit card, but there are fees for credit cards;

3. Transfer: Deposit cards can be used directly to For transfers from other users, credit cards can not only be used for direct consumption, but cannot be transferred;

4. Financial management: Deposit cards have various financial management functions, but credit cards do not.

1. Credit card

Credit card, also called credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

2. Savings Card

A savings card is a financial transaction card issued by a bank to provide financial services to depositors. It is a type of debit card. There are two types: magnetic stripe and chip. Its main function is to make deposits and withdrawals at networked ATM machines and bank counters, and to make purchases at networked POS.

3. The main function of a savings card

The main function of a savings card is to deposit savings. The cardholder reads the magnetic stripe and manual password through the electronic payment network established by the bank and the card. By entering, functions such as card consumption, ATM cash withdrawals, transfers, and various types of payments can be realized. Expenses paid through the card are equal to the reduction in the balance of the savings account. The account balance is zero and the card's payment function is reduced to zero. Applying for a debit card is very simple and does not require bank approval. Generally, it can be applied and withdrawn immediately.

IV. Savings Card Business Scope

1. Savings ATM Business

Savings ATM (AUTOMATICTELLERMACHINE) is a service method and tool provided by Savings to savers. It is also a self-service bank for depositors to achieve self-service; it is the crystallization of modern communication technology, computer technology and banking services. It can provide deposits, withdrawals, account inquiries and personal password modification functions for depositors.

2. Savings POS business

Savings POS business: It is a consumer service tool provided by savings to promote the realization of electronic money, reduce cash flow, and reduce the labor intensity of merchants. . In shopping malls, hotels, entertainment venues, public service venues, etc. that already have POS terminals on the bank card network, debit card users can use their accounts to make purchases without using cash. There are no restrictions on user consumption and payment amounts, and they are exempt from fees. Handling fee. But the account cannot be overdrawn. In addition, Savings has also launched a mobile phone bill payment service and a phone wallet payment service. Payment is easy and flexible. It is more convenient to pay bills anytime and anywhere 24 hours a day.

Can I deposit money on a credit card?

Yes.

Credit cards are used to borrow money and spend money, while debit cards are used to save money.

You can deposit. If you deposit too much, it is called "overpayment", but it can also be used for credit card consumption.

You can save money with a credit card, but you should pay attention to the following points:

1. You can also save money into a credit card account, but unlike a debit card (deposit card), you can save money into a credit card account. No matter how much money you save or how long you save it, there will be no interest. Because credit cards are not essentially used for deposits, the money "deposited" is not called a deposit, but an overpayment, which is used for consumption and repayment, and a handling fee may be charged for cash withdrawals.

2. This amount can increase the available limit of the credit card or be directly used for consumption repayment. If there is an overpayment on the credit card, the overpayment will be deducted first and then the credit limit. If the overpayment is greater than the consumption amount, there will be no overdraft.

3. If you deposit money into a credit card in advance without consumption, the money cannot be withdrawn. If you want to withdraw it, a high handling fee will be charged, so you should try to avoid it. . Saving money in a credit card does not accrue interest, so it is more cost-effective to deposit the money in a debit card.

4. When the credit card limit is sufficient, do not easily deposit money into the credit card. Try to repay the bill in full according to the bill, or set up the debit card associated with the credit card for automatic deduction. Regarding the handling of "overpayment" that has occurred, if the amount is small, try to "redempt" it by swiping your card. Credit card purchases will automatically use the "overpayment" limit by default before using the normal credit limit.

5. As for credit card overpayments with a large amount, try not to withdraw cash directly from self-service equipment: "You might as well use bank channels to 'save the country' - transfer the funds in the credit card to the corresponding debit In the card account, relatively speaking, the transfer fee is capped, which is lower than the overpayment cash withdrawal fee. ”

Can I deposit money with a credit card?

You can deposit money, the credit card itself. It has the basic functions of a general bank card, so the credit card can be inserted into an ATM machine to deposit money like an ordinary debit card or savings card, or money can be transferred to the bank card through transfer.

But it should be noted that the credit card itself has a limit given by the bank. If the money we deposit exceeds the credit limit, after spending or withdrawing cash on the credit card, the used limit will be topped up first, and then the amount used will be topped up. There is a form of overpayment.

The difference between depositing money with a credit card and a bank card

1. The bank will not give interest when depositing money with a credit card. Therefore, if you save money with a credit card, you may not get a cent of interest for two or three years. But if you put it in a bank card, it will be different. Interest will be settled every month at the base rate. In addition, cash withdrawals with bank cards are free of charge. Credit cards also charge a cash withdrawal fee, which is 1 to 2% of the cash withdrawal amount.

2. The money in the credit card may become bad debts, affecting your credit. After depositing money into a credit card, be sure not to leave it alone. If the credit card has not generated any transactions for more than 180 days, even if it is not overdue, it will affect your credit. It may be treated as bad debt by the bank and reported directly to the central bank for credit reporting. Leaving a bad debt record is much more serious than being overdue.

Function of credit card

1. Swipe card for consumption

The most direct function of credit card is to swipe card for consumption. Users can use credit card in stores, hotels, airports, convenience stores Wait for consumption in other places, and the more they consume, the more banks like such users. It is best to achieve a monthly consumption limit of 70% of the credit card credit limit.

2. Withdraw cash

Credit cards also have the function of withdrawing cash, but using these functions requires paying certain handling fees and interest. The handling fee is generally about 1% of the cash withdrawal amount. Different banks There is a difference; interest income is generally collected on a daily basis, and the daily interest rate is 50%. Generally speaking, the interest paid for cash withdrawals with credit cards is relatively high.

3. Installment payment

Credit cards have the function of installment repayment. If users have difficulties in repaying after using the credit card, the user can use the installment repayment function. However, Users are required to pay a certain handling fee, which is calculated based on the number of installments. Users can repay in advance after handling the installment repayment, which can save a lot of handling fees and the credit limit will be restored in real time.

4. Remittance

Credit cards have the function of remittance. For example, when cardholders spend money abroad, they can repay or recharge at home, so that users can consume with confidence. There is no need to worry about insufficient funds or missing the repayment date. This function is beneficial to users when traveling.

That’s it for the introduction of whether credit cards can save money.