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How to use credit card money

Credit card money can be withdrawn in cash, can be used for offline consumption such as shopping mall payment, can be used to buy a house or a car, and can also be used to bind WeChat, Alipay and other APPs for online shopping. But it should be noted that banks also set credit card limits for cardholders, and they can only spend within a certain amount. Users also need to repay on time after consumption. If they cannot repay on time, it will be included in the credit report as a bad behavior.

1. Can be consumed directly. Cardholders can use the card instead of cash at merchants marked with the Bank of China Great Wall Credit Card, including stores, hotels, restaurants, airports, hospitals and other places. 2. You can save money. The bank calculates the margin and reserve funds of the credit card account at the prescribed interest rate, and can deposit them in savings. 3. Transfer settlement is possible. Cardholders can make transfer payments from their accounts at Bank of China branches. 4.ATM cash withdrawal function. Cardholders can withdraw cash at Bank of China branches and ATM machines in the province. 5. Overdraft function. Cardholders can overdraft, withdraw cash, and use funds within the limit allowed by the card-issuing bank, and overdraft interest will be charged at the same time. 6. Collection and payment function. Cardholders can handle services such as salary payment and phone bill collection at specific units contracted by the bank.

Product Origin:

Credit Card 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 line.

A credit card is generally a special carrier plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front, and there is a chip on the back. Magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.

It is said that one day in the 1950s, American businessman Frank McNamara was entertaining guests for a meal in a New York hotel. After the meal, he found that he had forgotten his wallet and had to call his wife to bring cash. McNamara came up with the idea of ??starting a credit card company because he felt embarrassed about paying the bill at a restaurant. In the spring of 1950, McNamara and his friend Schneider invested US$10,000 to establish the "Diners Club" in New York, the predecessor of Diners Club. Diners Club provides members with a card that can prove their identity and payment ability. Members can use the card to record their purchases at 27 designated restaurants without having to pay cash. This is the earliest credit card. This kind of credit card that does not require bank processing is a commercial credit card.