How to save money on overseas shopping by cleverly using credit card cashback to save money

The domestic overseas shopping market has grown rapidly, and the appreciation of the RMB in recent years has made overseas products more cost-effective ”, consumers’ enthusiasm for overseas shopping continues to increase. In the face of the continuously growing overseas shopping crowd, many banks have recently launched their own exclusive overseas shopping platforms and preferential activities. The Visa Checkout payment method, which has become popular in recent years, has further improved the security of overseas shopping because it can protect personal and bank account information and data.

Industry insiders pointed out that regardless of safety or convenience, overseas shopping users should apply for a credit card that can be used for payment based on their own circumstances. For consumers who want to shop around the world, a full-currency credit card with "0 currency conversion fee" can save about 1% of the currency conversion fee.

In addition, electronic travellers’ checks also support many overseas shopping websites. Although processing electronic travellers’ checks requires a certain handling fee, many banks will occasionally launch discounts that waive the handling fees for electronic travellers’ checks. , so consumers can choose to purchase during the promotion period. According to senior sources, because electronic traveler's checks are highly recognized on foreign websites, the chance of being canceled by overseas shopping is relatively small.

On the other hand, understanding the overseas shopping-related discounts currently launched by major banks can also "save" the consumption of overseas shopping people. As the overseas shopping community continues to grow, many banks have launched relevant preferential activities, especially some cash back activities.

Not long ago, China Guangfa Bank launched a VISA exclusive overseas consumption to grab Coach activity. As long as overseas consumption or overseas online consumption, using Visa route yuan, and the top 450 customers in the month's consumption amount, can Receive a free Coach coin purse. The promotion of the just-concluded event is that if you spend a total of RMB 1,000 in a single month through Coach overseas shopping, you can enjoy 10% cash back (limit of RMB 2,000 per person per month).

The China Construction Bank also launched the “10% reward campaign for overseas shopping at the top ten famous stores” for the huge overseas shopping community. If the cardholder uses the Dragon Card global payment credit card with the UnionPay single logo (starting with 62) to spend at the top ten designated overseas online merchants including Amazon in the United States, Rakuten International Shipping, etc., he or she can get 10 cash back for a single transaction worth US$100. %. Each cardholder can earn up to $60 in rewards per calendar month.

When shopping on domestic shopping websites, you need to log in with your username, enter your login password, payment password, mobile phone dynamic password, etc. The entire process requires you to enter your password almost four or five times. However, when shopping overseas on foreign websites, you only need to enter simple information such as credit card, expiration date, and CVV code. Some websites even do not even need to enter a password. The safety of overseas shopping has always been a concern for many consumers.

In response to this problem, many banks such as China Merchants Bank and China Everbright Bank have launched VisaCheckout payment services. On the one hand, while providing a convenient payment experience, the security of consumption on overseas websites is also guaranteed.

It is understood that unlike ordinary overseas shopping, payment such as input, validity period, CVV code and other information does not require registration or login to overseas merchant websites that support this service. You only need to select products on the website. Find the VisaCheckout icon in the payment method, enter your VisaCheckout account email address and password, and then complete the payment. The goods will be delivered to the address filled in the VisaCheckout account in advance.

In this process, all information filling steps can be completed automatically through data interaction, which fully omits the information filling steps and greatly improves the user's overseas shopping experience. At the same time, since there is no need to register on the online shopping platform or enter a password or CVV code, sensitive transaction information will be retained in the VISA system, and security has also been improved.

As for the security protection of credit cards themselves, many banks have also introduced some security protection measures. For example, China Guangfa Bank has launched a "transaction switch" function. Cardholders can use the "transaction switch" to turn off the overseas transaction function when they are in China to prevent overseas transactions. When you are not shopping, you can also turn off the Internet switch in card-not-present transactions to close online transactions to ensure the safety of your funds.

In addition to some discounts, promotions and safety measures for overseas shopping, what other conveniences can you enjoy when shopping overseas with a bank? Citizens may wish to pay attention to the overseas shopping platforms with subdivided functions of major banks.

According to the staff of China Merchants Bank, in April this year, the "Travel·Overseas Shopping" channel of the bank's mobile client Palm Life App, in addition to providing visas based on various overseas travel needs of cardholders, In addition to "one-stop" services such as reservations and overseas consumption discounts, you can also view and purchase travel products. The VisaCheckout registration and login function launched by the channel simultaneously cooperates with Haigou Fengyun to help customers quickly obtain overseas transit addresses, allowing users to avoid the tedious steps of filling in card information and address information, and easily realize one-click registration on the mobile phone.

China Construction Bank recently joined hands with the online shopping transaction platform PayPal to launch the China Construction Bank PayPal exclusive overseas shopping platform. In addition to having hundreds of high-quality foreign merchants favored by Chinese consumers, PayPal also provides buyer protection services. When shopping, Dragon Card credit card customers only need to log in to their PayPal account and click on the bound CCB credit card to complete the payment without input. Users can provide feedback to PayPal if they encounter any problems within 180 days from the purchase of goods. Statement: The article comes from the Internet and is only for netizens to learn and communicate. If there is any infringement, please contact us to delete it.

Comparison of overseas shopping credit cards of various banks

Compared to Taobao, overseas shopping, as an emerging shopping method, has become the focus of online shopping. Once you become addicted to online shopping, you will be out of control. Naturally, you cannot do without a credit card if you want to do overseas shopping. So which bank’s credit card to apply for is a question faced by card lovers. Today I will tell you what are the advantages and disadvantages of each bank’s overseas shopping credit card?

1. China Merchants Bank:

The fees are not low. Even if you have a gold card, you will not be exempt from the fees for overseas emergency loss reporting and emergency replacement of the card. There will be activities such as cash back for US dollars, which is suitable for overseas shopping enthusiasts.

Advantages:

1. Rich card types, good service, you can apply for AE card, swipe the card 6 times without annual fee.

2. It is very convenient to purchase foreign exchange and repay it. What is particularly worth mentioning is that as long as you deposit RMB into your CMB credit card, you will have priority to automatically repay your US dollar debt. This means that you can use third parties such as Alipay, Tenpay, Kuaiqian, etc. to repay your US dollar debt without having to buy foreign exchange over the phone. It's more worry-free.

Disadvantages:

1. Currency conversion fees and US dollar selling prices tend to be higher among the 10 banks;

3. Overseas card-less transactions cannot be closed. Function.

2. China CITIC Bank

Advantages: You can automatically purchase foreign exchange, apply for an AE card, swipe the card 6 times without annual fees, the visa delivery service is also good, and there are many currencies. The US dollar selling price is lower and the quota is strong.

Disadvantages:

1. Currency conversion fee, overseas card-less payment function cannot be turned off;

3. Online banking function is relatively poor and cannot check the exchange rate.

3. Industrial and Commercial Bank of China

Advantages:

1. It has the most branches and more currencies, and unlike Bank of China, the selling price is generally lower. Purchase and repay foreign exchange directly in online banking, and receive it in real time.

2. There are AE cards and multi-currency cards. There is no annual fee for swiping the card 5 times, and there is no handling fee for overpayment withdrawal; the currency conversion fee (also known as the overseas transaction assessment fee) is low, V is 1% , M is the lowest among all domestic banks. Therefore, if you use a U.S. dollar card to pay Euros in Germany and repay in RMB, considering the appreciation of RMB, you may save money on purchasing foreign exchange in RMB than using a Euro card.

3. It is more convenient to purchase foreign exchange and repay it. As long as you deposit enough amount in your debit card, in addition to automatic repayment, you can also directly purchase foreign exchange and repay it in online banking, and it will arrive in real time. Almost no banks provide this function. CCB’s online banking repayment of foreign exchange does not arrive in real time. Don’t underestimate this function. It can save money. You can keep refreshing and find a low selling price before purchasing and repaying foreign exchange. , great autonomy. In addition, you can choose to purchase foreign exchange in real time in online banking (consumption is converted into RMB in real time and accounts are recorded in RMB. It was only a few years later that Bank of China's Global Connect card realized this function).

4. The selling price is generally low, and the foreign exchange quotations of various banks are always somewhat different. Although the quotations of various banks are not very different, the overall selling price of ICBC is relatively low, just a few points lower, but if the amount is large, , still save some money.

5. You can easily turn on or open the overseas card-less payment function to improve security.

6. The interest-free period is 56 days. Although the billing date is always the 1st and the repayment date is always the 25th, it is already the longest. The currency conversion fee is the lowest among major banks, V is 1%, and M is Disadvantages:

1. The credit limit is not necessarily strong. In the early years, it was extremely difficult to apply for a credit card at ICBC. Even with very good economic strength, it was still difficult to apply for a credit card. It’s difficult, especially the Euro card, which is only 500 euros.

2. The service capabilities of each province vary greatly. For example, I have a Euro card, but the provincial card department said that there is no Euro card version, and the US dollar card version is used. Therefore, the pre-printed bin does not match the embossed bin. As a result, it was rejected once in Germany and I was forced to use the US dollar card. .

3. Each card needs to be repaid separately, and the total consumption of all cards will not be automatically calculated. < /p>

2. The selling price is generally low, foreign exchange can be purchased automatically, and Amazon USD consumption has points;

3. The overseas transaction function can be manually set: "off, only once, certain Time period or permanent activation"; (TX who are worried about network security can set "only once" before overseas shopping, and the overseas transaction function will be closed automatically after payment)

4. Free gift for online ticket purchase with full payment 20 yuan insurance.

Disadvantages: Few outlets.

5. China Construction Bank

It seems that no advantages have been found, and the disadvantages are not obvious. The US dollar selling price is often higher than the other 9 banks, and the currency conversion fee is 1.5%.

6. Bank of China

Use the country and currency (U.S. dollar V, British pound M, German euro V, Swiss euro V U.S. dollar V, Australian dollar V)

Advantages:

1. The highest level of internationalization. As the most professional foreign exchange bank in China, the overseas credit card business is the most mature. The design is mature and elegant. Most American cashiers know BOC, and there is no UnionPay plaster on the card surface.

2. Complete currency types.

3. Bank of China has many overseas outlets, and it is so convenient that you can directly go to the New York branch to repay the US dollar balance owed on the US dollar card. Suitable for people who are going abroad for a long time.

4. Real-time SMS, there will be a call after swiping, but my international mobile phone roaming charges will be waived.

Disadvantages:

1. The selling price of US dollars is not low, often the highest.

2. Euro and pound credit cards do not waive annual fees. If you don't go to a Euro country or the UK, don't apply for these cards, because they are single-currency credit cards and do not waive annual fees. If you swipe the card domestically, you will also need to pay a currency conversion fee, not to mention accounting. And these annual fees can be used to make many transactions with the US dollar card.

3. Online banking sucks. Before 2008, Bank of China didn’t know anything about online banking. Online banking has been available since 2008, but the interface is stingy and difficult to use. Credit card functionality is minimally customizable. The single currency credit card has also been registered with another website in Hong Kong.

4. Cardless payment on overseas websites cannot be closed. In addition to the VBV and MasterCardSecureCode functions that can be registered with a single credit card,

7. Bank of Communications

Use country and currency (US dollar M)

Advantages:

1. The US dollar selling price is slightly lower than that of ICBC and the same as that of China Everbright Bank. Anyway, it won’t be higher than Bank of China

2. The Golden Phoenix Card looks good.

3. The quota is super awesome.

Disadvantages:

1. Why is the currency conversion fee so high? The other company with the highest price is Everbright. So never use it in non-USD areas.

2. The overseas card-less payment function cannot be turned off. There have been reports of large-scale fraud by netizens.

3. Swipe your card quietly. No text messages or anything like that, that costs money.

8. Minsheng Bank

Use country and currency (US dollar V)

Advantages:

Very few

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Disadvantages:

Even for transactions in the same currency, a so-called foreign transaction fee of 1% is charged.

9. China Everbright Bank

Use the country and currency (U.S. dollar V card)

Advantages:

1. Sell in U.S. dollars The bids are low, often the lowest of all 10 banks. Off topic: But its US dollar demand deposits have the highest expected annual interest rate, so the US dollars are all emptied.

2. You can turn off the overseas card-less shutdown function through the phone, but it always feels inconvenient every time you call.

3. Real-time SMS notifications and frequent phone calls, which waste my international phone bill.

Disadvantages:

Currency conversion fee is as high as 1.95%

10. Hua Xia Bank

Using country and currency (US dollar M)

Advantages:

1. The Deutsche Bank logo on the card is familiar to many foreigners. Twice, the American cashier said: Yourcardisfantastic. I guess he saw the DB logo. .

2. The overseas credit card swiping function can be turned off. This function is different from closing overseas card-less payments, especially for countries such as Malaysia, where card information is used for fraud. It can be described as a major feature.

Disadvantages:

1. There is still a so-called conversion fee of 1% for the same currency

2. It is not as easy to use as Huaxia Debit Card. Hua Xia Debit Card is free of charge for overseas UnionPay cash withdrawals.

Which credit card is better for overseas shopping?

Cards from the four major banks can be the first choice. After all, the big banks are definitely more convenient in terms of repayment. In addition, in terms of card functions, CCB’s global payment card is still good. All transactions with this card can be automatically converted into RMB and credited to the account, and there is no 1.5% foreign exchange fee. This is a great benefit for those who often shop overseas.

In addition, his family’s annual fee is also friendly to the people. The annual fee for the standard platinum card is 580 yuan, but as long as the card is used for a total of 10 purchases or cash withdrawals each year, the annual fee will be waived. The titanium platinum card: the annual fee is 380 yuan, and the annual fee is waived for a total of 6 purchases or cash withdrawals. Annual fee; the annual fee for the gold card is 160 yuan, and you only need to make 3 purchases with the card or withdraw cash every year.

China Merchants Bank Overseas Shopping Credit Card: A must-have credit card for overseas shopping

The summer of 2018 is coming soon. Do you have any plans to go overseas for overseas shopping during the holidays? If so, then you must bring a credit card that is more cost-effective for overseas shopping. Today I give you a big gift - the 2018 China Merchants Bank Overseas Shopping Credit Card. Just choose the essential credit card for traveling abroad from here.

2018 CMB overseas shopping credit cards: JCB all-currency international credit card, MasterCard all-currency card, Visa all-currency card, AEBlue all-currency international credit card. China Merchants Bank Credit Card Application

These four overseas shopping credit cards belong to different card organizations. Applicants can choose according to their overseas area and needs. In addition, these four overseas shopping credit cards are all full-currency cards, and the credit card benefits are as follows:

1. Core benefits

1. Any consumption around the world, 0 foreign exchange fees;

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2. Any consumption around the world, direct RMB debit and repayment, convenient repayment;

3. Complimentary high-value travel insurance, pay with credit card for air tickets or tour group fees, enjoy up to 2 million flights Casualty insurance;

4. Annual fee is unconditionally waived during the validity period.

2. Exclusive rights and interests of all currencies of CMB If you purchase a card and approve it, you can receive 388 CMB credit card points through Palm Life.

2. First-time payment and repayment gift

From now until December 31, 2018, any new account that successfully applies for a CMB all-currency card will receive two credits upon card issuance. Within a calendar month, if you make any transaction using this card, or make any transaction with a CMB credit card after binding the card in Mobile Life, you can get: Samsonite Travel Abroad Package or 1,000 points from China Merchants Bank Credit Card, choose one of the two.

3. Exclusive benefits of card organizations

1. JCB Card (Japan)

Free access to airport/high-speed rail VIP lounge services throughout the year; nearly 6,000 Discounts on overseas high-end hotels and restaurants; free reservations for two people traveling together at famous Japanese restaurants; airport pick-up and drop-off services; discounts on Hertz car rentals.

2. MasterCard (Europe and the United States)

Get tax refund at home and enjoy up to 10% cash back; online shopping + wallet loss insurance; hotel VIP benefits; discounts at popular shopping malls in the United States and Europe; international Golf TPC benefits.

3. Visa Card (Asia and Europe)

Exclusively enjoy first-tier international hotels stay for 3 and pay 2, free breakfast + up to 100 US dollars in vouchers; free 500 yuan visa gift package; nationwide Free valet parking at the airport; CIP green channel service at domestic and international airports; global car rental discounts; shopping, dining, and parent-child education privileges.

4. AEBlue Card (Asia, the United States)

Enjoy 10% off when staying at an Expedia hotel after booking; up to 15% overseas shopping rebate + US$15 cash rebate; 9 points redeemed for concierge car transfer Airport; 50% off and 15% off on selected restaurants and shopping stores in Asia, plus free standard shipping to the country.

Summary: The above four models of China Merchants Bank’s overseas shopping credit cards in 2018 belong to different card organizations. Applicants must choose according to their destination abroad, otherwise it will affect your ability to earn money.

That’s it for the introduction of overseas shopping cashback credit cards.