It has all the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal, etc. Credit card is divided into credit card and quasi-credit card. Credit card means that the cardholder has a certain credit limit, A credit card that allows you to spend money within your credit limit and then repay later.

A quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve as required. When the reserve account balance is insufficient to pay, the card can be overdrawn within the specified credit limit. The so-called credit card generally refers to a credit card only.

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the card-issuing bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder. After applying, the consumption funds will be deducted from the cardholder's credit card account in installments, and the cardholder will repay according to the monthly credit amount.

Extended information:

No matter what method is used to transfer or remit money, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as Intra-party repayment, online repayment, convenience store repayment, etc.

When making installment purchases in shopping malls, cardholder identity verification is required, so remember to bring your ID card. Shopping mall installments are generally free of charge for three installments. The rates for 6 and 12 periods vary from bank to bank. Installment products can generally be purchased as long as they are normally sold in the shopping mall. In many cases, cardholders can also bundle multiple items together for checkout and then make installment payments.

Baidu Encyclopedia-Credit Card