Can I deposit money on a credit card?

You can save money with a credit card. Although you can save money, there is no interest because the main purpose of a credit card is for consumption, not deposits and withdrawals. The money stored in the credit card is called overpayment. There is usually a handling fee for withdrawing the overpayment, but some banks will also waive the handling fee for overpayment withdrawal.

If there is an overpayment on the credit card, the credit limit will be increased, and this part of the money will be deducted first when making purchases. The credit limit will be deducted after the overpayment is deducted. When the consumption is less than the overpayment, the credit card will not be overdrawn. You can also directly swipe the credit card to use the money when shopping until the money is used up. Neither of these two methods of handling overpayments will incur interest or handling fees.

Credit cards are very practical for today’s young people, because credit cards can meet their consumption philosophy, which is to consume first and then repay later, so most people go out for shopping or shopping. When we travel, we usually carry our own credit cards to buy things or swipe the card. When we swipe the card, we feel more handsome, but we cannot just swipe the card to consume. We should consume rationally and not blindly.

Although credit cards can bring us benefits and solve our money problems in a timely manner, we must pay attention to reasonable consumption, otherwise we will be faced with the situation that the credit card cannot be repaid in time. Overdue phenomena occur. If we fail to repay in time after the due date, we will face the phenomenon of poor personal credit, so we should avoid such phenomena from happening.

We must clearly understand that personal credit reporting is very important, as it represents a person’s economic strength. If the economic strength is not good, it will affect our future loan behavior. When we When we buy a house and then get a loan, or when we buy a car and get a loan, we will face the bank's refusal to lend us money.

Can a credit card be used to save money?

A credit card can be used to save money, but it cannot be used like a memory card. The details are as follows: The money deposited into the credit card can only be spent by swiping the card, and there is no deposit. Interest, no interest on deposits is equivalent to an interest-free debit card. Withdrawal is regarded as a cash advance by credit card, with a handling fee but no interest (provided that the withdrawal limit is within the over-deposit limit of the credit card), and according to the regulations of the People's Bank of China, a credit card (debit card) can only withdraw 2,000 yuan or its equivalent per day. RMB.

The principal of each installment of a credit card means the portion of the principal that needs to be repaid in each installment, that is, the installment amount to be repaid each month. Usually, it does not include interest, handling fees, annual fees, etc. incurred during the use of the current credit card. For specific details, you need to consult the credit card issuing bank. For example, if you apply for 3,000 yuan in 6 installments, then the installment principal of each installment is 500 yuan. In addition to the principal, there will also be an installment fee, which will also be shown on the bill. At the same time, you should know that the installment fee of a credit card refers to the installment fee, which is usually deducted for each installment. Some banks deduct all handling fees in one lump sum in the first period. Usually the handling fee per period = total installment amount × handling fee rate per period. The total principal amount of the installment is amortized evenly on a monthly basis, and the remainder is included in the last installment. The amount of each installment and the handling fee of each installment are recorded at the same time.

The difference between credit card and debit card

The following are the differences between the two cards: 1. Credit card is a consumer credit product, which requires consumption first and repayment later. Debit cards are deposited first and then used; 2. Credit cards can be overdrafted, but debit cards cannot be overdrafted; 3. Credit cards have a revolving credit limit, but debit cards do not have a revolving credit limit ( Revolving credit refers to the limit that the bank has approved for the cardholder. The cardholder does not need to repay the balance in full if he uses it within the limit. He only needs to pay the minimum repayment amount specified to maintain good credit. If the credit record is established, the cardholder's credit limit can be used again); 4. Credit card holders who need to repay in full before the final payment date may enjoy an interest-free repayment period for shopping purchases;

5. Credit card deposits do not accrue interest, while debit card deposits accrue interest based on the savings interest rate; 6. Credit cards are asset businesses, while debit cards are liability businesses;

7. The issuance of a credit card needs to meet relevant conditions (such as the situation of the work unit, assessment of repayment ability and review of personal credit record, etc.), while a debit card only requires an ID card;

8. Credit cards have anti-counterfeiting logos and UnionPay logos, while debit cards only have UnionPay logos. "

Can a credit card save money?

You can save money. The credit card itself has the basic functions of a general bank card, so the credit card can be used like an ordinary debit card or savings card. Insert the card into the ATM machine to deposit money, or transfer money to the bank card.

But it should be noted that the credit card itself has a limit given by the bank. The amount we deposit exceeds the limit. After credit card consumption or cash withdrawal, the credit limit will be topped up first, and then exist in the form of overpayment.

The difference between credit card and bank card deposits

1. Banks will not pay interest when depositing money with a credit card. Therefore, if you deposit money with a credit card, you may not get a cent of interest for two or three years. However, if you put it in a bank card, the interest will be calculated at the base rate every month. . In addition, cash withdrawals with bank cards are free of charge. Credit cards also charge a cash withdrawal fee, which is 1 to 2% of the cash withdrawal amount.

2. The money in the credit card may become bad debts, which will affect your credit. After depositing money into a credit card, be sure not to leave it alone. If there is no transaction for more than 180 days, your credit will be affected even if it is not overdue. The bank may handle it as a bad debt and report it directly to the central bank for credit reporting. , leaving a record of bad debts is much more serious than being overdue

Functions of credit cards

1. Spending by swiping your card

The most direct function of a credit card is spending by swiping your card. , users can use credit cards to make purchases in stores, hotels, airports, convenience stores and other places, and the more they spend, the more banks like such users. It is best to have a monthly consumption limit of 70% of the credit limit of the credit card.

2. Cash withdrawal

Credit cards also have the function of withdrawing cash, but using these functions requires paying certain handling fees and interest. The handling fee is generally about 1% of the cash withdrawal amount, and there are differences between different banks. ; Interest income is generally calculated on a daily basis, and the daily interest rate is 0.05%. Generally speaking, the interest paid for cash withdrawals with credit cards is relatively high.

3. Installment payment

Credit cards have installment payments. The repayment function. After the user uses a credit card to make purchases, if there is difficulty in repayment, the user can use the installment repayment function, but the user needs to pay a certain handling fee. The handling fee is calculated based on the number of installments. The user handles You can repay in advance after installment, which can save a lot of handling fees, and the limit will be restored in real time.

4. Remittance

Credit cards have the function of remittance, such as cardholders. When spending abroad, you can repay or recharge at home, so that users can consume with confidence without worrying about insufficient funds or missing the repayment date. This function is beneficial to users when traveling.

About. Can I recharge money with a credit card? Can I recharge money with a credit card? This is the end of the introduction. Have you found the information you need?