Because the credit card application is approved by post, there is no guarantee that the recipient is the applicant. In order to protect applicants and banks from being stolen, credit cards have card opening procedures before they are officially opened. Card opening is mainly through telephone or internet. , check the relevant personal information provided at the time of application, and go through the card opening procedures after meeting the requirements.
At this time, the applicant becomes the cardholder and can officially start using it after signing on the back of the card. After a credit card is opened, it is generally necessary to set a password for the card. After accepting a credit card, a credit card merchant or bank shall review the validity of the credit card and the identity of the cardholder.
The extended data merchant and the bank confirm that the credit card is valid, and contact the bank to request authorization according to the contract signed with the issuing bank. Authorization is to further prove the identity of the cardholder and the amount that can be used. Authorization is generally carried out when the usage specified in the contract is exceeded.
After receiving the authorization notice, the issuing bank will issue an authorization instruction according to the balance of the cardholder's deposit account and the agreement that the bank allows overdraft, and reply whether to agree to the transaction.
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