1) Debit card (Debit

Card)

Debit card is issued to the society by the issuing bank and has the functions of transfer settlement, cash deposit and withdrawal, Credit tool for shopping and consumption. Debit cards do not have an overdraft function, and the consumption characteristic is "deposit first, then spend". In order to obtain a debit card, the cardholder must have an account with the card issuer and maintain a certain amount of funds. When a cardholder pays with a debit card, the payment is transferred directly from their account at the card-issuing bank to the bank account of the merchant selling goods or providing services. Therefore, the funds in the debit card actually come from the cardholder's checking account or current account (ie, current deposit account), and the payment amount of the debit card cannot exceed the amount of the deposit. Debit card is a unique type of credit card in China. In Western countries, general transfer payment and other functions are mediated by checks, so debit cards are also called check cards.

(2) Quasi-credit card (Semi-Credit

Card)

The quasi-credit card is also a credit card with "Chinese characteristics". It was created when our country's credit mechanism was not yet complete. Its emergence and development laid a foundation that cannot be ignored for the popularization of credit cards. A quasi-credit card has some functions of both a credit card and a debit card. It generally requires a deposit or a guarantor. When using it, you deposit money first and then spend it. Interest is calculated on the deposit. When shopping and making purchases, you can use it within the limit approved by the card-issuing bank. Make a small overdraft, but the overdraft amount will accrue interest from the date of overdraft, and the outstanding balance must be paid off in one go. There is no interest-free repayment period and minimum repayment amount.

(3) Credit card (Credit

Card)

Credit card is the credit card in the narrow sense that we often mention. A payment card that provides consumer credit to the cardholder. The cardholder does not have to make a deposit at the card-issuing bank, but can "buy first and settle the payment later." Based on the customer's creditworthiness and other circumstances, the card issuer sets a "credit limit" for each credit card account. Generally, the card issuing bank sends a bill to the cardholder once a month. Within a certain grace period after receiving the bill, the cardholder can choose to pay off the account without paying interest; or pay part of the account, or only pay Minimum payment, plus interest later. This type of credit card is currently the most widely circulated payment card, and its core features are credit sales and revolving credit.