Quasi-credit card refers to a bank card that can pay first and then repay within the credit limit, but does not enjoy the interest-free repayment period, and the deposit bears interest. The card can be used at domestic and overseas acceptance points with UnionPay logo, and has the functions of credit consumption, transfer settlement, cash deposit and withdrawal, etc. Quasi-credit card is a kind of credit card with China characteristics, and there is no such credit card abroad. At the end of 1980s, China banking introduced credit card products from abroad. Because the personal credit system in China was not perfect at that time, China's banking industry carried out some reforms on foreign credit card products, changing the traditional interest-free and interest-free overdraft of foreign credit card deposits into deposit interest-bearing and overdraft interest-bearing ones.
Quasi-credit card has some functions of credit card and debit card. Generally, it is necessary to pay a deposit or provide a guarantor. When using, deposit first and then consume, and deposit pays interest. When shopping, the cardholder can make a small overdraft within the limit approved by the issuing bank, but the overdraft amount will bear interest from the date of overdraft, and the arrears must be paid off in one lump sum. Generally, there is no interest-free repayment period and minimum repayment amount, and its basic functions are transfer settlement and shopping consumption.
The characteristics of quasi-credit cards mainly include:
1. Generally, you need to pay a deposit or provide a guarantor to apply for a quasi-credit card.
2. Interest is calculated for deposits with quasi-credit cards.
3. Traditional quasi-credit cards can be overdrawn, but there is no interest-free repayment period for overdraft funds, and interest is calculated from the day of overdraft, and it must be paid off in one lump sum, and the minimum repayment amount is not allowed.
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Credit card, also called debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits.