Minors can open an account and apply for a bank debit card, but they cannot apply for a credit card.
According to relevant regulations, children under the age of 16 need to be accompanied by their parents when opening a bank account. Parents and children can apply with their ID cards, household registers or only-child certificates. Only-child certificates are also acceptable.
Bank cards refer to credit payment instruments issued to the public by approved commercial banks (including postal financial institutions) with all or part of the functions of consumer credit, transfer settlement, cash deposits and withdrawals, etc. Bank cards reduce the circulation of cash and checks, allowing banking business to break through the limitations of time and space and undergo fundamental changes. The application of the bank card automatic settlement system has made the dream of a "checkless, cashless society" a reality.
Starting from August 1, 2017, the annual bank card management fee will be cancelled, and some basic financial service charges of commercial banks will be suspended. On April 22, 2019, China UnionPay released the "China Bank Card Industry Development Report (2019)". On August 15, 2020, Baidu Company, Baixin Bank and China UnionPay launched China’s first digital bank card-Baidu Quick Pass Card. On August 31, China UnionPay released the first digital bank card “UnionPay Unbounded Card”. On December 2, 2019, the "Regulations of the Supreme People's Court on Several Issues Concerning the Trial of Bank Card Civil Dispute Cases" were adopted at the 1785th meeting of the Judicial Committee of the Supreme People's Court and will come into effect on May 25, 2021. It is clear that if the user's bank card is stolen and proves that he is not responsible, he can claim compensation from the bank.
Development history: Since the 1970s, due to the rapid development of science and technology, especially the use of electronic computers, the scope of use of bank cards has continued to expand. It not only reduces the circulation of cash and checks, but also fundamentally changes banking business by breaking through the limitations of time and space. The application of the bank card automatic settlement system will make the arrival of a "checkless, cashless society" a reality in the near future.
Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.