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If I don't receive the credit card issued by China Merchants Bank, will others accept it? Will it be dangerous?
Before the credit card is activated, there is no risk that others will take it away.

You must activate your credit card to use it.

Credit card handled at the counter: it can be activated online or by mobile phone, but only if there is a phone reserved by the bank when handling the card. Otherwise, there is no way to activate.

Online application: You must bring your ID card to the counter for activation.

So there is no risk without activation.