Credit card consumption in each billing cycle should be repaid in full or according to the minimum repayment amount before the current repayment date. If there is no repayment before the current repayment date or the repayment amount does not reach the minimum repayment amount, it is overdue and interest and late fees are charged.

Generally, the card is a special carrier plastic card, with a length of 85.60 mm, a width of 53.98 mm and a thickness of1mm. The name of the card issuer, the expiration date, the number and the name of the cardholder are printed on the front, and the back is provided with a chip, a magnetic stripe and a signature strip. Cardholders can use credit cards to shop, spend money and deposit and withdraw cash from banks.

There is no need to pay cash for credit card consumption, and it will be repaid on the billing day.

The earliest credit card appeared at the end of 19. From 65438 to 1980s, the so-called credit card was developed in British clothing industry, followed by tourism and business departments. However, at that time, the card could only be used for short-term commercial credit, and the money had to be paid back as needed. There was no long-term default and no credit line.

After the financial crisis and the ups and downs of the domestic economy, the credit card market in China picked up on 20 16. By the end of 20 16, the total number of credit cards issued in China has exceeded 590 million. In 20 16, the transaction amount of credit card consumption in China reached 74 1.8 1 trillion, up by 10.75% year-on-year, and the proportion of credit card consumption in the total retail sales of social consumer goods continued to increase.

References:

Baidu encyclopedia-credit card