When your credit card expires, should you replace it directly or apply again?
When the credit card validity period is approaching, the bank will notify you in advance (usually 3 months in advance) by text message or phone call to apply for a new card. Renew the card immediately. If this card is no longer used, the cardholder must proactively explain to the bank the reasons for not renewing the card three months in advance, and complete the cancellation operation within the validity period of the old card.
If you want to continue using the old card, as long as both parties reach an agreement, the cardholder generally does not need to participate in the card renewal process. The bank will default to mailing the prepared new card to the designated location. Just collect it.
It should be noted that if there is no special instructions, the bank will use the address when applying for the original credit card as the mailing address for the new card. Therefore, if the address to be mailed is different, you need to leave the new address when contacting by phone. .
Credit card application
In most cases, citizens who have full capacity for civil conduct (citizens over 18 years old in mainland China) and have certain direct financial resources can issue cards to Apply for a credit card. Sometimes, legal persons can also be applicants.
Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country.
Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.
The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc.
And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form.
The application form is accompanied by a contract for using the credit card. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have an application A person's autograph.
Review
After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness. The content of the review mainly includes whether the content of the application form is true. For the applicant, the creditworthiness of the applicant must be assessed. For individuals, the relevant circumstances of the guarantor must also be reviewed.
Usually, banks will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc.
The specific factors and processes reviewed by the card issuing bank are commercial secrets and are generally difficult for outsiders to understand. The standards of each card-issuing bank are also different. Therefore, the same materials may be issued with different credit limits and different types of credit cards in different banks. Some banks may even approve the application, while others may reject it. .
Card Issuance
After the applicant successfully applies for a credit card, the card issuer will open a separate credit card account for the cardholder at the card-issuing bank for settlement after shopping, consumption and cash withdrawal.
How to renew a Bank of Communications credit card when it expires
There are two ways to renew a credit card. One way is to take your card to your nearest business outlet to apply for a new card. The second is that Bank of Communications will send a text message before the card expires to remind you to change the card and confirm the address. If the phone number reserved by the customer has not been changed, the customer service will proactively contact you to notify the customer of a new card and at the same time contact the customer. Confirm some personal information to have your new card mailed. And the card renewal will be sent to the billing address 45 days before the last billing date. You can get the new card about 1 month before the old card expires. If you still want to renew your card, just confirm the information sent by the bank.
When replacing a new card, generally speaking, the credit card account number and limit remain unchanged, but a new credit card is given to you (card replacement at an outlet). If it is re-sent to you, In this case, you will be given a new account, but your information and quota will remain unchanged.
1. The effects of the Bank of Communications credit card expiration are as follows:
1. The use of the credit card will be restricted, and you will not be able to freely withdraw money or spend money;
2. The debt is still valid and can be repaid by credit card;< /p>
3. Note: The expiration of a credit card does not mean cancellation, and the annual fee may still be charged;
After the credit card expires, the cardholder can continue to use it or cancel it according to his or her own circumstances.
2. The Bank of Communications Credit Card Regulations stipulate:
Expired Pacific Cards cannot continue to be used, but the creditor-debt relationships that have occurred due to the use of Pacific Cards by cardholders should not be affected. If the cardholder does not exchange for a new card upon expiration or needs to stop using the Pacific Card before the validity period of the Pacific Card expires, he should submit a written application for card cancellation to the card issuer and return the Pacific Card to the card issuer in a timely manner. When the card is canceled, the funds in the corporate (business) card account should be transferred to its basic deposit account, and no cash withdrawal is allowed.
3. What is the validity period of a credit card?
The validity period of a credit card refers to the period from when a bank issues a credit card to when the credit card expires. It is similar to the validity period of an ID card. Generally, the validity period information of a credit card is printed in the corresponding position at the bottom of the front of the credit card. Some only indicate the expiration date, while others will completely indicate the start and end dates. In short, you can know it at a glance.
Here’s a guide on what to do if your credit card expires
A few days ago, a cardholder left a message. He said that his credit card was only valid for 2 months and he still wanted to continue. How to use it. Today, I compiled this article to introduce to you what to do if your credit card expires?
One of the credit card expiration methods: card renewal
Generally speaking, one month before your credit card expires, major banks will take the initiative to mail new cards to customers. If you do not receive a new card within a long period of time, you should contact the bank as soon as possible and the bank will resend you a new card.
Under normal circumstances, the new credit card and the original credit card are the same in terms of functions, limits, etc., and the points from the original credit card will be transferred to the new credit card.
If you have a bad credit record, the bank will lower your credit card limit. On the contrary, if you have always maintained a good credit record, you can apply to the bank to increase the limit according to your own needs, and the bank will generally agree.
Tip: If your mailing address changes, you should proactively contact the bank in advance.
The second way to deal with credit card expiration: cancel the card and cancel the account
If you think other credit cards have great discounts and you don’t want to use this expired one, usually you can do it in advance Contact your bank's customer service hotline within a month so they don't send you a new card. Or bring relevant information to a bank branch to handle card cancellation and account cancellation.
Notes when canceling a credit card:
1. There must be no debt or balance in the credit card;
2. Use the points in the credit card as much as possible. Points will become invalid after cancellation;
When your credit card expires, you can choose to renew it or go through the cancellation procedure. In order to protect your rights and interests, it is best to make a decision in advance.
How to renew the China Merchants Credit Card when it expires
The China Merchants Credit Card will automatically become invalid upon expiration and you can change the card.
China Merchants Bank provides the bank’s credit card cardholders with a card replacement notification service when the validity period of their credit card is approaching. Repayment notification text messages and email notifications sent by China Merchants Bank.
The process for replacing a China Merchants Bank credit card when it expires is as follows:
1. About one month before expiration, China Merchants Bank will remind the cardholder to change the credit card by text message or email, and Ask to confirm whether to change the delivery address.
2. After confirming the receiving address, China Merchants Bank will take the initiative to send the new credit card by registered mail.
The Credit Card Center of China Merchants Bank notifies the cardholder of the code of the registered letter by sending a text message, and the cardholder can check the status of the letter on the official postal website.
4. The postman delivers the package or picks up the card at a designated point.
5. After receiving the new credit card, remember to go to the official website of China Merchants Bank to activate it.
How to negotiate with the bank to resolve the overdue China Merchants Credit Card?
There are two situations when the China Merchants Credit Card is overdue. Cardholders can handle it according to the situation:
1. If the overdue time is less than 3 days, no processing is required.
Credit cards have a 3-day grace period for repayment every month, and no application is required. Paying off the bill or the minimum payment within 3 days of the due date will not affect your personal credit record. For example, if the last repayment date is the 5th, and the repayment is postponed until 24:00 on the 8th of the month, it is considered a normal repayment.
2. If the card is overdue for more than 3 days, liquidated damages and interest will be incurred, which will affect the cardholder's personal credit and subsequent loan applications. If the overdue payment is not caused by the applicant's fault, the applicant can raise objections with the lending institution or credit reference center and request corrections. If the applicant is not satisfied with the processing result, the applicant can initiate an administrative complaint to the credit management department of the People's Bank of China or the financial consumer rights protection department. If it is caused by my own mistake, China Merchants Bank must truthfully submit overdue information in accordance with regulatory regulations.
In short, it is difficult to negotiate with the bank to resolve the overdue China Merchants Credit Card. Unless the overdue credit card is not caused by my own fault, it is recommended to fulfill the repayment obligations on time and bind the debit card for automatic repayment.
How to renew a Bank of Communications credit card when it expires
Bank of Communications will send you a new card about one month before your credit card expires.
Bank of Communications provides free card renewal service upon expiration. Under normal circumstances, if the cardholder's credit card meets the conditions for automatic card renewal, the system will automatically generate a new card 56 days before the card expires (new cards will be generated separately for the main and additional cards), and the mailing address registered with the Bank of Communications for the main card will be Sent via registered mail.
Bank of Communications (English name Bank of Communications, abbreviated as BCM, Chinese name as abbreviated as Bank of Communications) was founded in 1908. It is one of the six largest banks in China and one of the oldest banks in China. It is also the oldest bank in modern China. One of the banknote-issuing banks.
On April 1, 1987, the reorganized Bank of Communications officially opened for business and became China's first national state-owned joint-stock commercial bank, with its head office in Shanghai. Bank of Communications was listed on the Hong Kong Stock Exchange in June 2005 and successfully listed on the Shanghai Stock Exchange in May 2007.
Bank of Communications is one of China's major financial service providers. The group's business scope covers commercial banking, securities, trusts, financial leasing, fund management, insurance, offshore financial services, etc.
Bank of Communications has 235 domestic branches, including 30 provincial branches, 7 directly affiliated branches, and 199 provincial branches. It operates in 239 prefecture-level and above-level cities and 158 counties or counties across the country. *** has 3,270 business outlets in tier-1 cities;
It has 7 non-bank subsidiaries, including wholly-owned subsidiaries BoCom Leasing, BoCom Insurance, and BoCom Investment, and its holding subsidiary BoCom Fund , BoCom Guosen, BoCom Life, BoCom International.
In addition, Bank of Communications is also the largest shareholder of Changshu Rural Commercial Bank and the bank's joint largest shareholder. It has strategically invested in Hainan Bank and controls 4 rural banks.
In July 2019, the 2019 Fortune Global 500 was released: ranking 150th. Ranked 18th on the list of the top 100 Chinese enterprises along the Belt and Road Initiative. In December 2019, it was selected into the 100 Model Brands at the 2019 China Brand Power Ceremony. In March 2020, it was selected into the top 500 most valuable global brands.
Bank of Communications’ personal business includes: savings deposits, personal loans, foreign exchange services, financial planning, investment services, insurance services, convenience services, wealth management, private banking and other services.
The company's business includes: banking engineering, tax payment, cash management, asset custody (securities investment fund custody, national social security fund asset custody, insurance fund custody business, securities dealer/directional asset management plan custody, enterprise Annuity custody, international custody, trust fund custody, private equity fund custody, etc.),
Investment banking and financing business (accounts receivable transfer, guarantee business, loan commitment letter, credit certificate, buyer or agreement payment Interest rate bill discounting business, commercial bill discounting business, foreign government loan on-lending business, local fixed asset loans, export tax refund account custody loans, legal person account overdrafts, local working capital loans, interbank credit asset buyout business and interbank credit asset repurchase business) .
That’s it for the introduction to renewing your credit card.