How to activate and use a credit card for the first time
Many friends who apply for a card for the first time don’t know what to do after getting the credit card. Normally, after you get a credit card, you must first activate it before you can use it. The following will give you an introduction to how to activate and use a credit card.
1. Credit card activation
The first time you use a credit card, you must activate it. Unactivated credit cards cannot be used. There are many ways to activate credit cards. Cardholders who don’t know how to activate can refer to the following three methods:
1. Activation at the counter: This activation method is very simple and generally requires you to bring a valid ID. . Apply for a credit card at the business outlet of the card-issuing bank. Some banks stipulate that you can apply for a credit card online. You can only apply for a card through this method. The relevant documents you need to bring will usually be notified in the text message.
2. Online activation: There are many ways to activate your credit card online. You can activate it by following the card issuer's WeChat official account, or you can activate it on the card issuer's official credit card website.
3. Telephone activation: Generally, you need to call the 24-hour service hotline on the back of the credit card, and then follow the voice prompts to open the card by yourself. If not, you can transfer to manual service and ask customer service to help open the card.
2. Credit card use
Credit card use includes many aspects, such as card consumption, online payment, repayment, and handling of various businesses, such as bill installments, cash withdrawals, etc. , when applying for a card for the first time, you must have a general understanding of how to use a credit card.
1. Credit card consumption: Credit card can be used as a payment tool, and consumption can be made directly through the card POS machine installed by the merchant.
2. Online payment: Online payment with credit card is very simple. For example, if you want to shop on Taobao, select the product and click to pay, select the payment method as credit card, enter the credit card, three-digit security code, and SMS verification code. It's time to pay.
3. Repayment: When using a credit card for overdraft consumption, you must repay it on time, otherwise overdue payments will affect your credit record. There are many ways to repay credit cards. You can repay through mobile banking or through a third-party payment platform, such as Alipay.
How to use credit card?
Credit cards can be used in various consumption areas, such as shopping in shopping malls, dining, etc. They can be used wherever credit cards can be swiped, and can also be bound to third-party payments, such as Alipay, WeChat, etc. The credit card will also carry out promotional activities from time to time, including activities for some merchants, restaurants, and movies. Moreover, credit card consumption enjoys an interest-free period. As long as you repay the bill in full and on time on the due payment date, you will enjoy the interest-free period.
Can I swipe a credit card after it has just been activated?
After a credit card has just been activated, you can swipe it directly for consumption, but there are the following things you need to pay attention to:
1. Credit card activation You need to set a consumption password before you can use it. If you do not set a password when swiping your credit card, you only need to sign after paying. If you set it, use the password to pay.
If you choose to pay with a password, the security of your credit card is higher. When checking out after consumption, just enter the wrong password. If the payment can be made, it is a signed consumption without a password. If it fails, the password has been set successfully.
Because credit cards are generally sent to customers by registered mail, sometimes there will be some mailing errors. In order to prevent the credit card from falling into the hands of others and being used, the credit card needs to be activated with personal information before it can be used.
2. There are two ways to activate a credit card. One is to directly call the customer service number to activate, indicating that you have received the credit card and need to activate it, and then just tell the customer service your information.
Another way is to go to a bank branch to activate. Be sure to bring relevant documents to prove your identity. Remember to activate your credit card within the validity period and keep your credit card in good condition.
1. How to calculate credit card installment interest
When it comes to installment repayment, you must first understand its interest calculation mechanism. Strictly speaking, it is the calculation of handling fees. Different banks have certain differences in terms of the number of installments and the rates. Take China Merchants Bank as an example. The bills are available in 2, 3, 6, 10, 12, 18, 24 and 36 issues. Many people cannot afford to repay the money, so they think that the longer the installments, the better, and they only need to pay back a small part every month, but that is wrong.
Because although the installment handling fee is fixed every month, it changes according to the number of installments. The extra fees for 24 installments are much higher than those for 3 installments. Handling fee per period = application amount and handling fee rate per period. This rate is generally between 0% and 1.67%.
2. Can credit card installments be repaid in advance?
There are too many users who subconsciously go for long-term installments, which not only incurs more handling fees, but also makes consumption inconvenient. I originally owed 10,000 yuan and divided it into 10 installments. Let alone having the money to pay it back, the unpaid installments occupied the credit limit, making it inconvenient to swipe a credit card.
Therefore, many people have the intention of repaying their loans in advance, thinking that if they pay off their loans earlier, they can regain their freedom as soon as possible. But everyone must understand that once you apply for installment repayment, you cannot cancel it. And it’s not just how many installments you want to pay in advance. If you want to pay back part of it in advance and pay back the rest slowly, it’s not possible.
If you want to end the installment early, you not only have to apply for it yourself and customer service, but you also have to pay off all the remaining outstanding debts at once. This is one of the reasons why installment payments are not recommended.
How to use the credit card after activation? What should you pay attention to when swiping a card to sign?
After the credit card is successfully activated, you can directly swipe the card for consumption, or you can bind WeChat or Alipay and then choose credit card payment. When signing by swiping the card for consumption, pay attention to checking the consumption information. After confirming that it is correct, there will be no problem before signing.
How to use the money in the credit card after activation
After applying for the credit card, you can activate the card and go to shopping malls, department stores, supermarkets and dining and entertainment venues for consumption, as long as the merchant has a POS Just machine. In addition, you can also bind your credit card to WeChat or Alipay, and then make purchases online.
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 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 designated commercial service departments, and then the bank will settle the accounts with the merchants and cardholders. Cardholders can overdraft within the prescribed limit.
Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card.
On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.
Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).
Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.
Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).
On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”
Credit cards originated in the United States in 1915. The earliest institutions to issue credit cards were not banks, but department stores, restaurants, entertainment industries and gasoline companies.
In order to attract customers, promote goods, and expand turnover, some stores and restaurants in the United States selectively issue credit chips similar to metal badges to customers within a certain range, which later evolved into plastic chips. The credit card is used as a proof of customer purchase and consumption, and the credit sales service business of purchasing goods at this store or company or gasoline station with credit chips is carried out. Customers can purchase goods on credit at these stores and branches that issue chips and pay by appointment. . This is the prototype of the credit card.
How to use a credit card?
After applying for a credit card, the customer activates the card and then can go to shopping malls, department stores, supermarkets and dining and entertainment venues for consumption, as long as the merchant has a POS machine. .
In addition, customers can also bind their credit cards to WeChat or Alipay, and then make purchases online. E-commerce platforms such as Taobao, Tmall, JD.com, and Suning.com have many contracted merchants that support credit card payment.
The credit card has a cash withdrawal function, so customers can also withdraw the credit limit for use. However, everyone needs to note that the cash withdrawal limit of some credit cards is only 50% of the credit limit, so customers can only withdraw half of the limit for use.
You also need to note that credit cards often have many benefits and benefits. For example, many platinum cards have high-speed rail and airport VIP lounge services, as well as discounts on various restaurants and hotels, afternoon tea services, etc. Credit card purchases can also accumulate points, which can then be redeemed for gifts, airline miles, etc.
Of course, customers must remember to repay on time after swiping their cards to avoid overdue behavior. Otherwise, the credit card may be frozen and cannot be used again.
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That’s it for the introduction of how to use the credit card after activation.