How to use credit cards

There are two ways to use credit cards:

1. When credit card holders shop or eat in offline malls, they only need to The merchant where the cardholder purchases has a POS machine, then the cardholder can hand the credit card to the mall staff, and then swipe the credit card to complete the purchase;

2. The credit card can also be bound to Alipay and WeChat Wait for the payment software and pay when you consume.

Note: When the bank first issues a card, the cardholder needs to activate the credit card before using it. The cardholder can directly call the customer service number on the credit card and then follow the voice prompts to activate the credit card.

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 is likely to be frozen and cannot be used anymore

What is the credit card consumption process?

Credit card consumption process:

1. Swipe card at POS machine

Swiping card at POS machine is the most common way to use credit card, and it is a way of swiping card online. . When swiping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding POS machine according to the card issuing bank and the currency type to be paid. The magnetic stripe of the magnetic stripe credit card is crossed on the POS machine, or the chip credit card is inserted into the card slot, connected to the bank, etc. for payment, and the corresponding amount is entered. After the remote payment accepts the information, the POS will print out a receipt for the card payment (at least two copies). The cardholder should sign the receipt after checking that the information on the payment receipt is correct. After the operator checks the signature on the receipt and the signature on the back of the credit card (including that the name completely matches and the handwriting basically matches), the credit card and a copy of the credit card payment receipt are given to the cardholder. At this point, the card swiping procedure on the POS machine is completed.

2. RFID machine taps the card

Taking the card on the RFID machine is a new type of credit card usage method, and it is also a networking method. When tapping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding card machine according to the card issuing bank and the currency type to be paid, enter the corresponding amount, and place the credit card flatly no more than 10cm above the sensor. The RFID machine will emit a signal after sensing the credit card, and then continue the operation process. After the remote payment accepts the information, the printer (if connected) will print out a receipt for tap-card payment, but unlike the previous method, the cardholder does not need to sign, such as The previous method is faster and more convenient. At this point, the card sensing program on the RFID machine is completed.

3. Manual order pressing

Manual order pressing is usually used when there is no POS machine or the Internet is not available. The order pressing operation must have a pressure-sensitive copy of the "direct purchase order" (at least two copies) and a telephone number. The inspection work before pressing the order is the same as that of the POS machine. Then, the operator uses the credit card pressing equipment to print the name and name raised on the credit card onto the purchase form, and writes the amount, date and other information, then calls the acquiring bank's authorization hotline, reports the card information, applies for authorization, and obtains The authorization code is written on the purchase form, and the cardholder signs it after confirming it is correct. After the operator checks the signature, the credit card and purchase order copy are handed over to the cardholder. At this point, the manual order pressing process is completed. Authorization calls are usually made immediately. In some areas with poor communication or good credit ethics, merchants may encounter situations where the merchant will deliver the goods to complete the transaction after pressing the customer's signature. The authorization will be completed in the future, but the merchant is at risk of encountering the credit card (if the customer pays with an invalid card, it will not be discovered immediately without applying for an authorization code immediately).

4. Online payment

From the perspective of cardholders, online payment is considered to be the riskiest among several credit card payment methods, because people with malicious intentions Phishing, eavesdropping on network information, and fake payments may be used to steal user information.

When paying online, you need to enter the validity period of the credit card, the Visa CVV2 code/MasterCard CVC2/UnionPay CVN2 number next to the signature column on the back of the card, the online transaction password, and sometimes you need to enter your name, a verification code randomly generated by the web page, etc. After the input is completed, click Submit to complete the online payment. With the development of the Internet, the security of online payment and credit card payment has gradually improved, which has also set off the trend of online consumption.

5. TV and telephone transactions

Similar to online payments, the requirements, validity period, Visa CVV2 code/MasterCard CVC2/UnionPay CVN2 and other information are required.

6. Pre-authorization

Pre-authorization is generally used to pay the deposit, that is, freezing a part of the available credit card limit as a deposit. The process of pre-authorization is similar to that of manual order pressing, but the content of the call requires pre-authorization of the corresponding amount. It does not require payment, and there is no need to press the order. You only need to issue a certificate of receipt of the deposit. Generally, pre-authorization will be canceled by the merchant during checkout. If the merchant forgets to cancel, you can call the merchant to request cancellation. You cannot cancel by calling the authorized agency. Or, wait for the bank to automatically cancel the pre-authorization (usually 7 to 30 days).

Credit card application:

In most cases, citizens with full capacity for civil conduct (citizens over 18 years old in mainland China) and with certain direct financial resources can Apply for a credit card from the card issuer. Sometimes, legal persons can also be applicants.

Those who apply for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

How to spend with a credit card

1. Spend with a card in a physical store. Generally, all merchants marked with "UnionPay", "VISA" and other logos support credit card payments.

2. Bind Alipay or WeChat for consumption. When making purchases in shopping malls or other places, you can use Alipay or WeChat payment.

3. Online consumption.

In most cases, citizens who have full capacity for civil conduct (citizens over 18 years old in mainland China) and have certain direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also serve as applicants

Those who apply for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed.

Individuals applying for credit cards must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness.

The content of the review mainly includes whether the content of the application form is true. The creditworthiness of the applying unit must be evaluated, and the relevant circumstances of the guarantor must also be reviewed for individuals.

Usually, banks will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc.

After the applicant successfully applies for a credit card, the card-issuing bank will open a separate credit card account for the cardholder at the card-issuing bank for settlement after shopping, consumption and cash withdrawal.

Since the card is sent by mail after the credit card application is approved, there is no guarantee that the recipient is the applicant. In order to protect applicants and banks from fraud losses, the credit card has set up a card opening procedure before it is officially launched. Card opening is mainly done by phone or online. The relevant personal information provided during the application is checked. Once the information is met, the card opening process is completed.

At this point the applicant becomes the card holder and can officially start using it after signing on the back of the card. After opening a credit card, you generally need to set up a password for the card.

How to consume with a credit card

The methods of using a credit card to consume are as follows:

1. Use the POS machine to make purchases: Basically, as long as the merchants that support credit card consumption can use the credit card to make purchases, Spending by credit card.

2. Bind Alipay for consumption: After binding Alipay, whether it is online or offline payment, as long as the payment method is set to credit card, you can use credit card for consumption.

3. Bind WeChat consumption: After binding WeChat, you only need to choose bank card payment when paying, and then select the credit card to pay, so that you can make consumption.

: What are the four main details that you must pay attention to when making credit card purchases?

1. Don’t let your personal credit report be affected by overdue payments. Try to use the automatic repayment function of your credit card. We know that credit card spending is easy, but when it comes time to repay it, it can become a bit passive. Many friends know their credit card repayment date, but on the day of repayment, even if the bank has sent a warm reminder to repay on time, more than 60% of credit card holders will still forget to repay. Because the pace of life is too fast now, everyone's life is under great pressure. There are many people who are too busy with work and have too many chores in life and forget to repay their credit cards.

2. Don’t use up your credit card consumption limit at once. This phenomenon does exist in real life. Some young friends are short of funds for consumption. No matter how much spending limit they have on their credit cards, they will try their best to use up the limit. Little do you know that this kind of credit card consumption method is not good for you. A credit card only has a limit of 10,000 yuan. If you use it up all at once, it is equivalent to an overdraft of 10,000 yuan. With such regular consumption behavior, the bank will think that you have the bad habit of excessive consumption, which will increase the risk of your funds.

3. Never use POS machines to withdraw cash from credit cards. We know that credit cards can be used to withdraw cash, but a credit card can only withdraw a certain amount of cash. And you have to pay a certain withdrawal fee to the bank, generally the rate is 1%. For example, if our purchase price is 2,000 yuan, a service fee of 20 yuan will be incurred. And some friends are too smart. In order to save cash withdrawal fees, I applied to open a POS machine myself, and then swiped the POS machine at home to cash out my credit card. You can use the machine to cash out multiple times, but if you cash out too many times, the bank will carry out risk control and may close your credit card consumption and cash withdrawal functions, and then the gain will outweigh the loss.

That’s it for the introduction of how to apply for a credit card and spend money.