What credit card is suitable for daily consumption? These models will help you save money
Many cardholders apply for credit cards mainly for daily consumption, such as food, clothing, housing, transportation, food, drink, entertainment, etc. They definitely hope that using credit cards can help them save money. In fact, there are quite a lot of credit cards suitable for daily consumption. Here are a few popular ones that are easy to purchase, so that everyone can easily own them.
What credit card is suitable for daily consumption?
1. Bank of Communications Walmart Credit Card:
One of the most suitable credit cards for consumption. Especially if you have a Walmart supermarket near your home, you must get one. It has two major money-saving functions.
One is to register for the most popular Friday, and if you spend 3,000 yuan or more in the previous month, you can enjoy a 5% discount at designated supermarkets every Friday of the month;
The other is to swipe your card through multiple channels Accumulated Walmart points can be exchanged for card credit. The exchange ratio is 1,000 points. The monthly exchange limit is 300,000 points. The annual exchange limit is 2 million points, which can be directly deducted from purchases in Walmart stores. In addition, points can also be used to offset cash in Paying Bar APP points mall, recharge payment, catering area and other scenarios.
2. Guangfa DIY Credit Card
Guangfa Bank’s credit card is worth applying for. It is also a credit card that can save money on consumption. The biggest highlight is that you can freely customize the benefits, ranging from catering, entertainment, and shopping. , you can choose one of the three types of travel as a 3x points discount. You can choose only one, or you can choose multiple. Each more than one will be charged an additional fee of 29 yuan.
Don’t underestimate this benefit. Guangfa Bank DIY credit card points are very useful. Not only can they be redeemed for gifts like other credit cards, but they can also be directly deducted from consumption arrears, and 20 yuan can be deducted for every 10,000 points. According to the ratio of 3 points for spending 1 yuan, if you spend 10,000 yuan on Guangfa Bank DIY Credit Card, you will get 300,000 points, which can be deducted by 60 yuan, and the annual fee can be waived easily.
How to use credit cards to save money
Credit cards are a good helper in financial management. Many card friends on the forum use various methods to save points and collect wool, and simply sort out what really works. Some credit cards save money.
1. First of all, compared with debit cards, credit card money is made out of thin air. You can do a lot of things during each month's interest-free period, especially now that there are many investment tools on the market. The expected annualized return is also very high. The security of credit cards has also been improved, especially the popularity of chip cards, which has greatly curbed credit card theft.
2. Make good use of the interest-free period. When the stock market is booming, many people cash out their overdraft credit cards and transfer them to the stock market. After making money, they return it to the bank at the end of the month and make a lot of profits. Of course, the risk of the stock market is too high, so I still don’t recommend it. However, there are other investment methods with high expected annualized returns. Some of them are just one month, so you can definitely make some money. For example, if you spend 10,000 yuan in overdraft, you can enjoy free The interest period is 56 days, which is equivalent to freeing up your 10,000 yuan in cash, and you can get the expected annualized return of the 56-day investment of this 10,000 yuan. You can use this 10,000 yuan to invest in Yu'e Bao and P2P. Of course you will make money from such a costless business.
3. Credit card points. Although points are not as valuable as before, you can still participate in some of the bank's regular points promotions, such as point discounts, points cashback, and points redemption for miles. It is not recommended to participate in the points lottery. Generally speaking, it is not a character explosion, and it is difficult to draw good gifts.
4. Actively participate in monthly promotions. It is recommended to download the mobile apps of major banks and follow the official account of the credit card center. Generally, banks will send push messages when there are good events.
Of course, there are other benefits. For example, using a credit card can help cardholders accumulate personal credit, provide accounting functions, and help cardholders consume rationally, etc. Credit cards can also provide cash withdrawal, installment and other services, which can play a buffering role when cardholders are short of money. Of course, there are fees for credit card cash withdrawals and installments, which cardholders need to pay attention to.
Beware of novices using credit cards: These are some ways to save money without realizing that you will lose a lot of money
After getting a new credit card, many novices will only blindly swipe the card on impulse without knowing how to swipe the card. There are also skills. If you use it well, you can save money. Here are some precautions for novices to pay attention to when using credit cards to see how to use it.
1. Keep the billing date and repayment date in mind
The purpose of this is to avoid overdue payment. After all, overdue payment will not only affect credit, but the cardholder will also have to pay penalty fees and interest. , so instead of saving money, you have to pay extra.
2. Swipe your card on the day after the statement day
This way you can enjoy the longest interest-free period. However, the regulations of each bank are different. Some have a long interest-free period for swiping your card on the day of the statement. , but just in case, it is still recommended to consume on the day after the bill date, and there will be at least one day of interest-free period at most, so it doesn’t matter much.
3. Do not deposit money into credit cards or overpay them.
Do not overpay credit card payments. It is even more taboo to deposit money into credit cards and use them as savings cards. This can easily lead to overpayments. If you want to withdraw excess money, you may be charged.
4. Understand the credit card fee settlement date
This mainly refers to the annual fee settlement time, especially for credit cards that can reduce the annual fee by swiping the card, you must swipe the card enough times before deducting the fee. . Everbright, Minsheng, Communications, Guangfa, CITIC, and Ping An all calculate the number of card swipes from the card activation date to the corresponding date in the following year; while China Merchants Bank counts the card issuance date.
5. Repaying money in advance is a taboo
Many novices who use credit cards and cannot afford to repay the money in one go will apply for installments, but if they have money in hand, they want to repay it in advance. This is a taboo. You must know that many banks require you to settle the remaining unpaid handling fees in one go for early repayment, so you won’t save any money.
6. Pay for others by swiping their cards
If you go shopping with your friends, if you can use your credit card to pay for them by swiping their cards, and then let them pay you in cash, this will not only accumulate By spending points, you can also take advantage of the interest-free period of your credit card and invest the money in other channels to earn interest.
How to use credit cards most cost-effectively
1. Many credit cards now charge annual fees, but banks have stipulated a policy that the annual fee can be reduced or reduced by the number of card swipes, so if you swipe the card more often, you will be exempted from the annual fee. The fees are quite cost-effective, but some high-end credit cards cannot waive the annual fee, so it’s best to find out before applying.
2. Try to use the rights and interests included in your credit card. In order to get more credit card customers, banks will provide certain rights and interests with each credit card, such as certain discounts for watching movies, eating, karaoke, and staying in hotels. , these discounts can save a lot of money, after all, saving money is equivalent to making money.
3. Credit card purchases will generate certain points. Most bank credit card points have an expiration date, and they will be cleared after the expiration date, so credit card points must be handled properly. For example, you can go directly to the credit card point mall to redeem products, and the points can be converted into cash.
4. Try to enjoy the longest interest-free period. Generally, you can enjoy the longest interest-free period by swiping your card on the second day of your credit card statement. The money saved during the interest-free period can be used to purchase financial products. These financial products You can get good profits.
5. Try not to withdraw cash when using a credit card, because cash withdrawals will charge handling fees and interest. Interest is generally calculated on a daily basis, with a daily interest rate of 5/10,000. The longer the time, the more the interest will be. This is It’s very uneconomical, so try not to withdraw cash when using a credit card.
6. When using a credit card, you must repay it on time. Not only will you be charged penalty interest if you are overdue, it will also have a negative impact on your credit report and cause a lot of inconvenience for future loan applications.
7. Credit card installment allows us to purchase large-amount products in advance, but it requires a certain handling fee. Therefore, credit card installment must be used rationally and not abused to avoid causing trouble in life.
Credit card is a non-cash payment method and a simple credit service. Credit cards are generally plastic cards with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. They are issued to cardholders by banks or credit card companies based on the user's creditworthiness and financial resources. Cardholders do not need to pay cash when making purchases with a credit card. Make further repayments.
Except for some credit cards that are combined with debit cards, general credit cards are different from debit cards and cash cards in that credit cards will not directly deduct funds from the user's account.
Credit cards are issued by commercial banks to individuals and organizations. They can use them to shop and consume with special organizations and deposit and withdraw cash from banks. They are special carrier cards with consumer credit. They are in the form of a card with the card issuing number printed on the front. Cards with bank name, validity period, number, cardholder name, etc., and a magnetic stripe and signature strip on the back.
A real credit card has the following characteristics: it is not encouraged to deposit cash in advance, consume first and repay later, enjoys an interest-free payment period, can repay in installments independently (with a minimum repayment amount), join VISA, MASTER Wait for international credit card organizations to make it universally applicable.
Main features
①Credit card is one of the fastest growing financial services today. It is an electronic currency that can replace traditional cash circulation to a certain extent;
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②Credit cards have both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using credit cards;
③Credit cards are high-tech products that integrate financial services and computer technology.
④Credit cards can reduce the use of cash;
⑤Credit cards can provide settlement services, facilitate shopping and consumption, and enhance a sense of security;
⑥Credit cards can simplify collection Reduce payment procedures and save social labor;
⑦Credit cards can promote product sales and meet social needs.
New Central Bank Regulations
On April 15, 2016, the Central Bank issued the "Notice of the People's Bank of China on Matters Related to Credit Card Business", canceling late payment fees on credit cards, introducing liquidated damages, and prohibiting collection Over limit fee. At the same time, corresponding adjustments were made to credit card overdraft interest rates, interest-free repayment periods and minimum repayment amounts. The amount has also been increased from 2,000 yuan per card per day to 10,000 yuan. The new regulations will be officially implemented on January 1, 2017.
1. Cancel late payment fees and introduce liquidated damages
The "Notice" cancels late payment fees, and the card issuer and cardholder will agree on liquidated damages; cancels over-limit fees, and stipulates that card issuers shall not Service fees bear interest.
2. The credit card overdraft interest rate can be customized
The upper limit and lower limit management of the credit card overdraft interest rate is implemented. The upper limit of the overdraft interest rate is 5/10,000 of the daily interest rate, and the lower limit of the overdraft interest rate is 0.5/10,000 of the daily interest rate. An increase or decrease of 30% will be made on the basis of five-fifths. The method of calculating interest on credit card overdrafts, as well as whether interest will be calculated on credit card overpayments and the interest rate standards are determined independently by the card issuer.
3. Interest-free repayment period and minimum repayment amount
The "Notice" cancels the maximum interest-free repayment period, minimum repayment amount standards and additional requirements for overdraft consumption The current regulations on conditions are determined independently by the card issuer based on commercial principles and cardholder needs.
4. The amount of cash withdrawals is increased from 2,000 yuan to 10,000 yuan
The "Notice" optimizes the management mechanism of credit card cash advance business and clearly defines cash withdrawals, cash transfers and cash recharges. Cash borrowing business type. The daily cumulative limit per card for cardholders to handle cash advance withdrawals through ATMs has been increased from RMB 2,000 to RMB 10,000. Cash transfers and cash recharges to my bank settlement account and payment account are allowed.
How to use credit cards in the most cost-effective and cost-effective manner
Don’t pursue high consumption amounts. Credit card consumption limits are not directly proportional to spending power. Do not overdraft credit cards and withdraw cash. Use a maximum of two credit cards.
1. Credit card consumption does not depend on the high limit. As long as the monthly credit card limit consumption reaches the average monthly level, high-limit consumption will greatly affect your normal consumption. If the credit card is lost, there will be a huge security risk. The credit card consumption limit is not directly proportional to your spending power. The credit card spending limit has nothing to do with your spending power. It mainly depends on your income level. After the credit card limit is increased, do not increase your spending power at will. If your spending power increases, you will worry about the repayment limit in the future. Do not overdraft your credit card to withdraw cash. Do not overdraft your credit card to withdraw cash. For example, if you withdraw 10,000 yuan in overdraft and pay it back one month later, you will need to pay a cash withdrawal fee of 100 yuan, plus an overdraft interest of 150 yuan. This amount is compared to the overdraft fee. Ten thousand yuan is not much, but when converted into interest, the interest rate is as high as 30%. A maximum of two credit cards can be opened per person, and they need to be bound to a debit card for repayment. After you have too many credit cards, you will not know which credit card still needs to be repaid. As a result, you will have to pay some interest, and at the same time, there will be negative information records on your credit record.
2. The form of a credit card is a card with the name of the card-issuing bank, validity period, number, cardholder name, etc. printed on the front. Consumers holding credit cards can go to a special commercial service department for shopping or consumption. , and then the bank settles the payment with the merchant and cardholder, and the cardholder can overdraft within the prescribed limit.
3. 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. In the 1950s, McNamara, a credit expert in Manhattan, was dining in a restaurant. Since he did not bring enough money, he had to ask his wife to send money over. This made him feel very embarrassed, so he organized the "Diners Club" (English: Diners Club). Members can bring a dining charge card to 27 designated restaurants to record their consumption without having to pay cash. This is the earliest credit card. Franklin National Bank was the first bank to issue a credit card, and other U.S. banks later followed.
It is said that one day, 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 with him. He was deeply embarrassed and had to call his wife to bring it with him. Pay cash at the hotel. So McNamara came up with the idea of ??starting a credit card company. 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. This kind of credit card that does not require bank processing is still a commercial credit card.
4. In 1952, Franklin National Bank in California, USA, was the first financial institution to issue a bank credit card.
5. Credit Card In 1959, Bank of America issued the Bank of America card in California. Since then, many banks have joined the ranks of card-issuing banks. By the 1960s, bank credit cards were quickly welcomed by all walks of life and developed rapidly. Credit cards became popular not only in the United States, but also in the United Kingdom, Japan, Canada and European countries. Since the 1970s, developing countries and regions such as Hong Kong, Taiwan, Singapore, and Malaysia have also begun to issue credit card services.
How to save money on a credit card (debit card)?
The more economical way to maintain a credit card (credit card) is:
1. After using the credit card (credit card) in the current month, you must repay it on time next month , a good credit card repayment status and no bad credit record are the basic conditions for increasing the limit of a credit card (debit card);
2. Since you can’t spend too much every month, then when you can Use credit cards (debit cards) to pay in as many places as possible. Diversifying the payment content will also help increase the limit;
3. Occasionally run a large installment, Generally speaking, occasional installments are also helpful to increase the limit. If you want to buy a mobile phone or computer recently, it is very suitable to use a credit card (debit card) to apply for installments.
This is the end of the introduction about credit card money saving and credit card money saving experts. I wonder if you found the information you need?