extended information 1. The earliest credit card appeared at the end of 19th century. In the 198s, the British clothing industry developed the so-called credit card, followed by the tourism and business sectors. However, at that time, the card could only be borrowed for short-term commercial credit, and the money had to be repaid as needed, so there was no long-term default and no credit line. In 195s, McNamara, a credit expert in Manhattan, USA, ate in a restaurant. Because he didn't bring enough money, he had to ask his wife to send it. This made him feel embarrassed, so he organized "DinersClub". Members bring a meal card to the designated 27 restaurants, and they can charge their fees without paying cash. This is the earliest credit card. Franklin National Bank was the first bank to issue credit cards, and other American banks followed suit. It is said that one day, Frank McNamara, an American businessman, entertained guests in a hotel in new york. After eating, he found that he had forgotten his wallet. He was deeply embarrassed and had to call his wife to bring cash to the hotel to settle the bill. So McNamara came up with the idea of creating a credit card company. In the spring of 195, McNamara and his friend Schneider invested $1, to set up DinersClub in new york, the predecessor of Diners Credit Card Company. Come to the club to provide members with a card that can prove their identity and ability to pay, and members can keep accounts and spend money with the card. This kind of credit card that does not need to be handled by a bank is still a commercial credit card.
second, the word "credit card" originally refers to this kind of financial products introduced in this post. However, what was popular in China before was a savings card without a credit card or even any credit card function. So the real credit card can only be called "credit card", which is neither fish nor fowl. Real credit cards have the following characteristics: cash deposit is not encouraged, payment is made after consumption, interest-free payment period is enjoyed, repayment can be made in installments (with minimum repayment amount), and international credit card organizations such as VISA, MASTER and JCB are joined for global use.
3. Another way of saying credit card is that credit card is a non-cash transaction payment method and a simple credit service. Credit cards are generally plastic cards with a length of 85.6mm, a width of 53.98mm and a thickness of 1mm, which are issued to cardholders by banks or credit card companies according to the credit and financial resources of users. Cardholders use credit cards without paying cash, and make repayment on the checkout date. Except for some credit cards combined with financial cards, credit cards are different from debit cards and ATM cards, and credit cards will not directly deduct money from users' accounts. In February 212, the bank confirmed that the credit card is safer without password, and if it is stolen, it will bear the responsibility with the bank. Enjoy an interest-free period of 25-56 days (or 2-5 days). Credit card consumption enjoys an interest-free period, and the bill amount is paid off before the due repayment date, without any cost. There is no interest-free repayment period for withdrawal. From the date of cash withdrawal, the bank will charge five thousandths of interest every day, and the bank will also charge a certain percentage of cash withdrawal fees.