The act of canceling a credit card may have a certain impact on personal credit, although for cardholders with good credit records, the impact will not be significant in the short term. However, frequently canceling credit cards is not recommended. Before canceling the card, be sure to ensure that the account balance is zero. The entire card cancellation process should be completed within 45 days after application to ensure the smooth progress of the process.

During the credit card application process, the applicant does not necessarily have to directly receive the card. The bank usually sends it by mail. In order to protect both parties from the risk of fraud, the credit card has a card opening verification process before activation. Credit cards are mainly divided into credit cards and quasi-credit cards. Credit cards allow cardholders to enjoy a certain credit limit and delay repayment after consumption; while quasi-credit cards require a reserve fund. When the reserve fund is insufficient, Overdraft is available within a certain limit.

As an important tool in modern finance, credit cards have many advantages. It does not encourage depositing cash in advance, supports consumption first and repays later. It has an interest-free period and can be paid in installments. It is universal and is an integrated product of financial technology. In addition, credit cards simplify the payment process, enhance shopping security, save payment procedures, stimulate consumer demand, and have a positive effect on social and economic activities.