A credit card is essentially a credit payment tool - a credit card, that is, you can overdraft, consume first, and repay later

First, a credit card is also called a credit card, which is issued by a commercial bank. Or a credit certificate issued by a credit card company to a credit-qualified consumer. 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.

Second, consumers with credit cards can shop or consume at special commercial service departments, and then the bank will settle the accounts with the merchants and cardholders. Cardholders can overdraft within the prescribed limit. Credit cards stipulated in my country's relevant laws ("Interpretations 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 that have all the functions of consumer payment, credit loans, transfer settlement, cash deposits and withdrawals, etc. Or an electronic payment card with partial functions.

Three, 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 card is Credit Card, and credit card consumption is a non-cash transaction payment. In this way, there is no need to pay cash when consumption, and repayment will be made on the billing date.

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

5. 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 original upper limit was 0.5% of the daily interest rate, The lower limit is 0.7 times the daily interest rate of 0.5%).

Sixth, 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 Cases