So, if you don't want to pay any interest, then the user needs to refund the amount of the account in full. If there is no full repayment, the repayment fund is greater than or equal to the minimum repayment amount, which is regarded as the minimum repayment amount of the user.
Minimum repayment will generate interest, but early repayment can effectively save interest. If you don't want to pay too much interest, you can choose to repay in advance.
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.
Credit card is a special carrier card with consumer credit issued by commercial banks to individuals and units. It is a card with the name of the issuer, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature on the back.
A real credit card has the following characteristics: cash is not allowed to be pre-deposited, it is paid after consumption, it enjoys an interest-free repayment period, and it can be repaid in installments (with a minimum repayment amount). Joining international credit card organizations such as VISA and MASTER can be used worldwide.
There are five major credit card brands in the world, namely VISA International and MasterCard International, and five professional credit card companies, namely American Express, Diners Club and JCB Japan International Credit Card Company. There are also some regional credit card organizations in various regions, such as EUROPAY in Europe, UnionPay in China, and the United Credit Card Center in Taiwan Province Province.
The choice of credit card is very important. Nowadays, many commercial organizations have bundled cooperative business with banks. For example, they can set up a joint credit card of a department store and the corresponding bank, and they can spend points here as members and get discounts. Or some cards can be discounted at designated merchants, including eating, watching movies, towing services, etc. , there are many names, and you can choose freely according to your own needs.
Credit cards have two functions: overdraft and cash withdrawal, but cash withdrawal requires a certain percentage of handling fees, and even if you deposit your own money, you have to charge. Therefore, it is not cost-effective to use a credit card to withdraw cash as a passbook.