Credit card, also called debit card, is a credit certificate issued by commercial banks or credit card companies to qualified consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits. The credit card stipulated in the relevant laws of China (Interpretation of the Provisions of NPC Standing Committee on Credit Cards) refers to the electronic payment card issued by commercial banks or other financial institutions with all or part of the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal [1-2]. 20 17 12 1, the English translation and writing standards for public services were formally implemented, and the English names of credit cards were specified. Credit card consumption is a non-cash transaction payment method, which does not need to pay cash when spending, and repays on the bill date. [4] Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to a credit card in which the cardholder has a certain credit limit and can spend first and then repay; Quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund according to the regulations, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the prescribed credit limit. Credit cards generally refer to credit cards. From the date of 202 1 1 1, the credit card overdraft interest rate is determined by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of the credit card overdraft interest rate is cancelled (the original upper limit is 0.7 times of the daily interest rate, and the lower limit is 0.7 times of the daily interest rate). [5] On May 25th, 20021year, the Supreme People's Court promulgated and implemented the Provisions of the Supreme People's Court on Several Issues Concerning the Trial of Civil Disputes over Bank Cards.
Second, the earliest credit card appeared at the end of 19. From 65438 to 1980s, the so-called credit card was developed in British clothing industry, followed by tourism and business departments. However, at that time, the card could only be used for short-term commercial credit, and the money had to be paid back as needed. There was no long-term default and no credit line. Credit cards are generally plastic cards with a special carrier, with a length of 85.60 mm, a width of 53.98 mm and a thickness of1mm. The name of the card issuer, the expiration date, the number and the name of the cardholder are printed on the front, and the chip, magnetic stripe and signature strip are printed on the back. Cardholders can use credit cards to shop, spend money and deposit and withdraw cash from banks. It is said that one day in 1950s, Frank McNamara, an American businessman, entertained guests in a restaurant in new york. After eating, he found that he forgot his wallet and had to call his wife to bring cash to the restaurant. He was deeply embarrassed, so McNamara came up with the idea of establishing a credit card company. 1 In the spring of 1950, McNamara and his friend Schneider jointly invested110,000 US dollars to establish DinersClub in new york, the predecessor of Diners Credit Card Company. Diners' Club provides members with a card that can prove their identity and ability to pay. With this card, members can spend money in 27 designated restaurants without paying cash. This is the earliest credit card. This kind of credit card, which does not need to be handled by a bank, belongs to commercial credit card.
3. China UnionPay is a joint-stock financial service institution jointly established by more than 80 domestic financial institutions with the approval of the People's Bank of China, with a registered capital of 65.438+65 billion yuan. The company was established on March 26th, 2002, and its headquarters is located in Shanghai. In Hong Kong, credit card holders usually receive monthly statements every month. If the credit card holder uses the credit card to spend money in the current month, he/she needs to pay the minimum repayment amount on the monthly statement before the final repayment period on the monthly statement. Otherwise, the card issuing company has the right to collect interest and administrative fees, or hire a debt collection company/credit information center to collect money. In Chinese mainland, there are corresponding consulting companies for credit card repayment, which can provide certain repayment strategies for cardholders, so that cardholders can get more intimate financial services by using credit cards.