What information is on the credit card?

The credit card must have at least the following information:

Front: name and logo of the issuing bank, credit card number (organization) logo) and holographic anti-counterfeiting mark, English or Pinyin name, activation date (generally calculated to month), expiration date (generally calculated to month), the latest issued card has a chip on the front.

Credit cards are special carrier cards with consumer credit issued by commercial banks to individuals and organizations, which can be used to shop and consume with special organizations and deposit and withdraw cash from banks.

Extended information

The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit line.

In the 1950s, McNamara, a credit expert in Manhattan, was dining in a restaurant. Since he did not bring enough money, he had to ask his wife to send money. This made him feel very embarrassed, so he organized the "Diners Club" (English: Diners Club). Members can bring a dining charge card to 27 designated restaurants to record their consumption without having to pay cash. This is the earliest credit card. Franklin National Bank was the first bank to issue a credit card, and other U.S. banks later followed.

It is said that one day, American businessman Frank McNamara was entertaining guests for a meal in a New York hotel. After the meal, he found that he had forgotten his wallet with him. He was deeply embarrassed and had to call his wife to bring it with him. Pay cash at the hotel. So McNamara came up with the idea of ??starting a credit card company.

In the spring of 1950, McNamara and his friend Schneider invested US$10,000 to establish the "Diners Club" in New York, the predecessor of Diners Club. Diners Club provides members with a card that can prove their identity and payment ability. Members can use the card to record their purchases. This kind of credit card that does not require bank processing is still a commercial credit card.

How to read the validity period on the front of the China Construction Bank Dragon Card credit card?

The validity period of the China Construction Bank Credit Card is printed on the bottom of the card in the form of "MONTH/YEAR", separated by "/ "Division, for example: 12/21 means that the credit card is valid in December 2021.

(In case of business changes, please refer to the actual situation.)

What are the signs of credit cards?

The credit card must have at least the following information:

Front: Name and logo of the card issuing bank, credit card number (organization logo) and holographic anti-counterfeiting mark, English or Pinyin name, activation date (generally calculated to month), validity date (generally calculated to month), the latest issued card There is a chip on the front, and the chip account and the card magnetic stripe account are two relatively independent accounts.

Back: card magnetic stripe, cardholder signature field (signature required after activation), service hotline number, last four digits or all of the number (to prevent fraudulent use), credit card security code (on the back of the credit card) On the signature line, the three digits immediately following the last four digits are used for credit card activation, password management, television, telephone and online transactions, etc.).

Application

In most cases, citizens who have full capacity for civil conduct (citizens over 18 years old in mainland China) and have certain direct financial resources can apply to the card-issuing bank. Apply for a credit card. Sometimes, legal persons can also be applicants.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

Review

After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness. The content of the review mainly includes whether the content of the application form is true. The creditworthiness of the applying unit must be evaluated, and the relevant circumstances of the guarantor must also be reviewed for individuals.

Usually, banks will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc. The specific factors and processes reviewed by the card issuing bank are commercial secrets and are generally difficult for outsiders to understand. The standards of each card-issuing bank are also different. Therefore, the same materials may be issued with different credit limits and different types of credit cards in different banks. Some banks may even approve the application, while others may reject it. .

Card Issuance

After the applicant successfully applies for a credit card, the card issuer will open a separate credit card account for the cardholder at the card-issuing bank for settlement after shopping, consumption and cash withdrawal.

Card opening

Since the card is sent by mail after the credit card application is approved, there is no guarantee that the recipient is the applicant. In order to protect applicants and banks from fraud losses, the credit card has set up a card opening procedure before it is officially launched. Card opening is mainly done by phone or online. The relevant personal information provided during the application is checked. Once the information is met, the card opening process is completed. At this point, the applicant becomes the card holder and can officially start using it after signing on the back of the card. After opening a credit card, you generally need to set up a password for the card.

After accepting a credit card, a credit card merchant or bank must review the validity of the credit card and the identity of the cardholder.

Authorization

The merchant and bank confirm that the credit card is valid, and contact the bank to request authorization according to the contract signed with the card issuer. Authorization is to further confirm the cardholder's identity and the amount that can be used. Authorization is generally made when the usage amount specified in the contract is exceeded.

After receiving the authorization notice, the card-issuing bank will issue an authorization instruction based on the deposit balance of the cardholder's deposit account and the bank's agreement to allow overdraft, and reply whether it agrees to conduct the transaction.

Use

Credit cards are usually only used by the cardholder himself. Lending them to others is generally a violation of the use contract.

Cancellation

Before canceling a credit card, the account balance must be cleared. The entire process of canceling the card must be completed within 45 days after the application is submitted.

How to distinguish bank cards and credit cards

To distinguish bank cards and credit cards, you can use the following methods:

1. The expiration date and cardholder’s name are printed on the front of the credit card Pinyin, while the debit card does not.

2. Credit cards are all embossed, while debit cards are usually flat-printed.

3. There is a 7-digit number printed on the back of the credit card, but not on the debit card.

4. On the back of a credit card, there are words "This card is valid only after signature" or similar words. On the back of a debit card, there are only the words "Signature of the cardholder".

5. Credit cards have laser anti-counterfeiting signatures; about 90% of debit cards do not have laser anti-counterfeiting signatures.

Debit cards are divided into transfer cards, special cards and stored-value cards according to different functions. Debit cards cannot be overdrawn. Debit cards have the functions of transferring money, depositing and withdrawing cash, and spending money. A special card is a debit card used in a specific area and for special purposes (referring to purposes other than department stores, restaurants, and entertainment industries). It has the functions of transferring funds, depositing and withdrawing cash.

A stored-value card is a prepaid wallet-style debit card in which the bank transfers funds to the card for storage at the request of the cardholder and directly deducts funds from the card during transactions.

Debit card [debitcard] can be used for consumption online or at POS, or transfer and withdrawal through ATM. Overdraft is not allowed, and interest is calculated on the amount in the card based on current deposits. Funds are withdrawn directly from the savings account when spending or withdrawing money. Debit cards generally require a password (PIN) when used. Debit cards can be divided into ordinary cards, gold cards and platinum cards according to their levels; they can be divided into domestic cards and international cards according to their scope of use.

Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the card-issuing bank gives the cardholder a certain credit limit, and the cardholder can consume within the credit limit first and repay later. A quasi-credit card refers to a credit card in which the cardholder first deposits a certain amount of reserve fund as required by the bank. When the reserve fund is insufficient to pay, the cardholder can overdraw within the credit limit specified by the card-issuing bank.

Creditcard, often called a credit card, refers to a credit card in which the card-issuing bank gives the cardholder a certain credit limit, and the cardholder can consume within the credit limit first and repay later. It has the following features: consume first and repay later, enjoys an interest-free payment period (up to 56 days), and has a minimum repayment amount. Customers can repay in installments if they have overdrafts. Customers need to pay a certain amount of annual fees to the bank they apply for, which differs from bank to bank.

The quasi-credit card is a single-currency, single-account credit card with interest-bearing deposits and purchases settled in RMB. It has functions such as transfer settlement, cash deposits and withdrawals, credit consumption, and online banking transactions. When the balance of the account is insufficient for payment by swiping the card for consumption or cash withdrawal, the cardholder can overdraft consumption or cash withdrawal within the prescribed limited credit limit, and a certain amount of interest will be charged. There is no interest-free repayment period.

Quasi credit card is a type of credit card with Chinese characteristics. There is no such type of credit card abroad. In the late 1980s, China's banking industry introduced credit card products from abroad. Because China's personal credit system was not very perfect at that time, the Chinese banking industry made certain changes to foreign credit card products. The traditional foreign credit card policy of no interest on deposits and an interest-free period for overdrafts was changed to one with interest on deposits and no interest-free period for overdrafts.

A quasi-credit card has some functions of both a credit card and a debit card. It generally requires a deposit or a guarantor. When using it, you deposit first and then consume, and interest is calculated on the deposit. Cardholders can make small overdrafts within the limit approved by the card issuer when making purchases, but interest will be calculated on the overdraft amount from the date of overdraft, and the balance must be paid off in one go. There is no interest-free repayment period and minimum repayment amount. The basic functions are transfer settlement and shopping consumption.

Strategy: What’s on the front of a credit card? What does it mean?

Users who apply for a card for the first time or who apply for a new card for the first time do not know how to use it after getting the new card. What do the BIN number, logo, date, etc. on the credit card surface mean. I gave a detailed explanation on these contents, hoping to help novices who are applying for a card for the first time.

1. Name of the card issuing bank

The name of the card issuing bank indicates the bank that issued the card, such as Industrial and Commercial Bank of China, Agricultural Bank of China, etc.

2. BIN number

The BIN number is yours. The first two digits 62 represent UnionPay cards, those starting with 4 represent VISA cards, those beginning with 5 represent MasterCard, and those starting with 35 represent UnionPay cards. The ones starting with 37 are JCB cards, and those starting with 37 are American Express cards.

3. Validity date

Every credit card has an expiration date. After expiration, the bank will replace the card with a new one and the old card will become invalid. The front of the number here represents the month, and the back represents the year. For example, 07/18 means that the card will expire in July 2018.

4. Cardholder’s name

Here is the full spelling of the card owner’s name. Some credit cards will also indicate the cardholder’s gender, such as card level

Generally, credit cards are divided into regular cards, gold cards, platinum cards, and diamond cards (levels, services, and annual fees are gradually increased).

6. Quick Pass logo

UnionPay contactless product logo. As long as the card has this logo, it can be used on the machine with this logo.

In many areas, Quick Pass can already realize small and fast payments, such as in food markets, self-service vending machines, parking lots, trains and other scene applications.

7. Card organization logo

A card organization is a specialized agency responsible for building and maintaining a bank card inter-bank network and providing information transfer and fund settlement services.

The world's major card organizations include: China UnionPay, VISA, MasterCard, American Express, and JCB.

What does the date on the front of a credit card mean?

The date on the front of a credit card is the expiration date of the credit card.

The role of credit card limited period:

1. Cards will wear out

Any card has a lifespan. After experiencing a certain amount of wear and tear, , it will be damaged to some extent, so after a period of time, you need to replace the card with a new one to ensure that you can use the card normally.

2. Functions need to be updated

In order to provide cardholders with better experience and services, card functions will also be constantly updated, such as from magnetic stripe cards to chip cards. Updated, the security performance has been greatly improved, greatly reducing the possibility of credit card fraud.

3. Risk assessment

In addition to the card itself, the bank also needs to re-assess the risk of the cardholder. The financial resources and work of the cardholder will continue to change. Banks To reduce risk, cardholders need to be assessed.

4. Reduce risks

For cards that have been idle or lost for a long time, the longer the validity period, the greater the chance of fraud and the higher the risk.

5. Add protection

In addition to the above, setting the validity period also serves to add a layer of protection. Because when paying online, you sometimes need to enter sensitive information such as the expiration date and the last three digits. An additional verification will also provide additional security.

Extended information:

Disadvantages of credit cards:

1. Blind consumption

Swiping a card is not like paying cash one by one. When you spend money, you just swipe it and feel nothing, just a few numbers, which leads to blind consumption and money flowing like water.

2. Excessive consumption

Installation for laptops, digital cameras, and smartphones. While enjoying your favorite items in advance, you must also consider whether you are able to repay them.

3. High interest rate

If you don’t know how to take care of your credit card and cannot repay the loan as scheduled when the final payment date arrives, the bank will charge high interest rates. (The minimum repayment for the first month of a credit card shall not be less than 10% of the overdraft amount of the month)

4. Annual fees are required

Credit cards basically have annual fees, but basically There are annual fee-free policies on the Internet. For example, China Construction Bank only needs to swipe the card three times a year to waive it; but if the card is not swiped the number of times specified by the bank in a year, an annual fee will be charged.

Baidu Encyclopedia-Credit Card

People's Daily Online-The credit card has expired. Should I reschedule or apply for a card? (Financial Consultant)

That’s it for the introduction to the front of the credit card.