I. Credit card
Credit card, also called debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits.
The credit card stipulated in the relevant laws of China (Interpretation of the Provisions of NPC Standing Committee on Credit Cards) refers to the electronic payment card issued by commercial banks or other financial institutions with all or part of the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal [1-2]. 20 17 12 1, the English translation and writing standard for public services was formally implemented, and the English name of the credit card standard was stipulated as Credit Card [3].
Credit card consumption is a non-cash transaction payment method, and there is no need to pay cash when spending, and repayment is made on the billing day.
Second, the main characteristics of credit cards
Cash advance deposit is not encouraged. You can enjoy an interest-free repayment period and can repay in installments (minimum repayment amount). Join VISA, Master Card, JCB and other international credit card organizations, which are universal.
It is one of the fastest-growing financial services, and it can replace the traditional cash circulation in a certain range.
It has two functions: payment and credit. Cardholders can use it to buy goods or enjoy services, and they can also use credit cards to obtain certain loans from card issuers.
It is a high-tech product integrating financial business and computer technology.
Can reduce the use of cash currency.
It can provide settlement services, facilitate shopping and consumption, and enhance the sense of security.
It can simplify the collection procedure and save social labor.
It can promote commodity sales and stimulate social demand.