Can I deposit money with a credit card?

You can save money with a credit card, but there is no interest, and you may be charged a handling fee when you withdraw it. The money stored in the credit card is called overflow. paid. Therefore, credit cards and debit cards must be distinguished. Moreover, if you save money in a credit card and do not use it for a long time, it will cause bad debts and affect our personal credit.

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People's Court issued and implemented the "Regulations of the Supreme People's Court on Several Issues Concerning the Trial of Bank Card Civil Cases"

Interpretation

According to " Article 7 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks: Credit cards refer to various media that record cardholder account information, have bank credit limit and overdraft functions, and provide cardholders with relevant banking services.

Can I save money with a credit card?

You can deposit more money into your credit card, but there is no interest on overpayments in your credit card, and many banks charge fees for withdrawing cash from your credit card (referring to overpayments). , so the credit card cannot be used as a savings card, and it is not cost-effective to save money in it! \The following are banks that are exempt from overpayment handling fees. Currently, there is no handling fee for overpayment by credit card of several banks such as ICBC, China Construction Bank, Bank of China, Bank of Communications, Minsheng, etc. There is no handling fee for withdrawal at the local bank counter or ATM machine. Shanghai Pudong Development Bank credit card The center’s local bank stipulates that there is no handling fee for withdrawing credit card overpayments; Guangfa Bank’s withdrawal of credit card overpayments through any channels within China is free of charge. China Everbright Bank’s withdrawals from our bank are free of charge. In addition to the above channels, the withdrawal of credit card overpayments will involve There is a handling fee for overpayment retrieval, such as: \ICBC charges 2 yuan per transaction for cross-bank reimbursement; \Construction Bank charges 1 for reimbursement in other places, with a minimum handling fee of 2 yuan and a maximum of 50 yuan, etc.

Can I deposit money on a credit card?

You can save money with a credit card. Although you can save money, there is no interest because the main purpose of a credit card is for consumption, not deposits and withdrawals. The money stored in the credit card is called overpayment. There is usually a handling fee for withdrawing the overpayment, but some banks will also waive the handling fee for overpayment withdrawal.

If there is an overpayment on the credit card, the credit limit will be increased, and this part of the money will be deducted first when making purchases. The credit limit will be deducted after the overpayment is deducted. When the consumption is less than the overpayment, the credit card will not be overdrawn. You can also directly swipe the credit card to use the money when shopping until the money is used up. Neither of these two methods of handling overpayments will incur interest or handling fees.

Credit cards are very practical for today’s young people, because credit cards can meet their consumption philosophy, which is to consume first and repay last, so most people go out for shopping or shopping. When we travel, we usually carry our own credit cards to buy things or swipe the card. When we swipe the card, we feel more handsome, but we cannot just swipe the card to consume. We should consume rationally and not blindly.

Although credit cards can bring us benefits and solve our money problems in a timely manner, we must pay attention to reasonable consumption, otherwise we will be faced with the situation that the credit card cannot be repaid in time. Overdue phenomena occur. If we fail to repay in time after the due date, we will face the phenomenon of poor personal credit, so we should avoid such phenomena from happening.

We must clearly understand that personal credit reporting is very important, as it represents a person’s economic strength. If the economic strength is not good, it will affect our future loan behavior. When we When we buy a house and then take out a loan, or when we buy a car and take out a loan, we will face the bank's refusal to lend us money.

Can I save money with a credit card?

01

Yes.

You can deposit money into a credit card, but the money deposited is called an overpayment, and no interest will accrue on the card. And users may incur handling fees if they want to withdraw it.

02

If you have idle money, it is generally not recommended to deposit it into a credit card. The main function of a credit card is overdraft consumption. Users can purchase goods without depositing money. Then just pay back the debt on the repayment date. If a user deposits money into a credit card, the deposited money will be spent first and then the credit card limit will be overdrawn when making consumption.

03

If the user frequently deposits money into the credit card, the credit card limit will be reduced, and when the user's withdrawal limit using the credit card exceeds the overpayment, the excess amount will be equivalent to When withdrawing cash with a credit card, interest and handling fees will be charged on this part of the money. The interest is generally calculated based on the daily interest rate of 5/10,000. Until the user repays this part of the money, the proportion of handling fees charged by each bank is different.

04

In short, users should not deposit money into credit cards in normal times. Users should use credit cards for consumption in normal times, and the more consumption limit, the better it is for users to increase their limit. If they want to increase the fixed limit, they can directly call the credit card customer service hotline to apply. The customer service staff will help the user submit it, and the bank will make an application based on the user's request. Usage determines whether to increase the limit.

This ends the introduction on why credit cards cannot save money and why credit cards cannot save money. Have you found the information you need?