A credit card is not a debit card.

Credit cards are a "spend first, repay later" model. Cardholders can make card purchases, overdraft cash withdrawals, deposits (no interest), etc. without depositing money, but they need to pay back the money to the bank after consumption. Debit card is a kind of bank card that "deposits first and consumes later". Cardholders can use debit cards to transfer money, deposit and withdraw cash (with interest), make purchases by swiping the card, etc., but cannot overdraft.

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 in the Trial of Bank Card Civil Disputes".