SemiCreditCard, in English, traditionally means that the cardholder pays the reserve fund in advance in the bank, and when the reserve fund is insufficient, the overdraft fund is allowed to be used within the credit limit stipulated by the bank. However, it should be noted that the quasi-credit card overdraft funds need to bear interest from the overdraft day, unlike ordinary credit cards, which have an interest-free period. The quasi-credit cards newly launched in recent two years, such as the Great Wall series credit cards of Bank of China, are quasi-credit cards, but users can enjoy the interest-free period without paying the reserve fund. This card functions as both a credit card and a debit card.

Characteristics of quasi-credit card

1. When users apply for quasi-credit cards, they generally need to pay the reserve fund. However, if the reserve fund is not paid, the user needs to provide a guarantor to the bank;

2. Users who deposit quasi-credit cards can earn corresponding interest according to the current interest rate. From this point of view, quasi-credit cards have some functions of general debit cards;

3. In the traditional sense, quasi-credit cards allow users to overdraw funds, but there is no interest-free period, and interest needs to be calculated from the day when users overdraw. When users repay, they need to pay off the overdraft amount in one lump sum, and the minimum repayment amount is not allowed.