1, application
The application method is generally by filling in a credit card application form, which generally includes the applicant's name, basic information, economic situation or income source, guarantor and its basic information. And submit some copies of certificates and vouchers to the issuing bank. After filling in the application form truthfully, the customer shall submit the completed application form and relevant credit certificate.
A credit card contract is attached to the application form. The applicant authorizes the issuing bank or relevant departments to investigate the relevant information, and submit the information authenticity statement and the privacy protection policy of the issuing bank. , and must have the applicant's autograph.
Step 2 review
After receiving the application form and related materials submitted by the applicant, the issuing bank shall review the applicant's credit standing. The contents of the audit mainly include whether the contents of the application form are true, evaluating the credit degree of the applicant, and auditing the relevant information of the personal guarantor.
Usually, the bank will review the information and economic situation of the applicant according to the application materials to judge whether to issue a credit card to the applicant. The factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc. The specific factors and process of the issuer's audit are trade secrets, which are generally difficult for the outside world to understand. Different card issuers have different standards.
Therefore, the same materials may have different credit lines and different types of credit cards in different banks, and even some banks will pass the examination and some banks will refuse to issue them.
Step 3 issue cards
After the applicant successfully applies for a credit card, the issuing bank will open a separate credit card account for the cardholder at the issuing bank for shopping, consumption and settlement after cash withdrawal.
Step 4 open the card
Because the credit card application is approved by post, there is no guarantee that the recipient is the applicant. In order to protect applicants and banks from being stolen, credit cards have card opening procedures before they are officially opened. Card opening is mainly through telephone or internet. , check the relevant personal information provided at the time of application, and go through the card opening procedures after meeting the requirements.
At this time, the applicant becomes the cardholder and can officially start using it after signing on the back of the card. After a credit card is opened, it is generally necessary to set a password for the card. After accepting a credit card, a credit card merchant or bank shall review the validity of the credit card and the identity of the cardholder.
Step 5 identify
The credit card has at least the following information on its surface:
Front: name and logo of the issuing bank, credit card type (organization logo) and holographic anti-counterfeiting logo, card number, English or pinyin name, activation date (generally calculated to month) and effective date (generally calculated to month). The chip is attached to the front of the newly issued card, and the chip account and the card magnetic stripe account are two relatively independent accounts.
Back: the magnetic stripe of the card, the cardholder's signature column (which must be signed after activation), the service hotline, the four or all digits after the card number (to prevent fraudulent use), and the credit card security code (the three digits immediately after the signature column on the back of the credit card are used for credit card activation, password management, TV, telephone and online transactions, etc. ).
Step 6 ratify
The merchant and the bank confirm that the credit card is valid and contact the bank according to the contract signed with the issuing bank.
Request authorization. Authorization is the amount that can be used to further prove the identity of the cardholder. Authorization is generally carried out when the usage specified in the contract is exceeded.
After receiving the authorization notice, the issuing bank will issue an authorization instruction according to the balance of the cardholder's deposit account and the agreement that the bank allows overdraft, and reply whether to agree to the transaction.
Extended data;
The difference between MasterCard and Visa:
VISA (Visa), MasterCard (MasterCard) and China UnionPay (UnionPay card) have established credit card consumption alliances around the world. After cooperating with them, domestic banks can swipe credit cards issued by domestic banks within their alliances, and in some countries and regions, they can even use UnionPay cards to spend directly.
When you apply for a credit card, you can choose to apply for VISA or MasterCard.
At present, there is little difference between the two international organizations in China. The big difference is UnionPay cards, just like Coca-Cola and Pepsi-Cola and Wahaha. You can choose which one you like. If you often travel in Asia and Australia or spend money by credit card, then I suggest you choose VISA, because VISA accepts more merchants in Asia and Australia and is more convenient to use.
The advantages of MasterCard lie in Europe and North America. Friends who often go to Europe and America can choose MasterCard.
There is another data for your reference, that is, the charge for overseas replacement cards. Once you accidentally lose your card abroad, you can report the loss to one of your two institutions for replacement in a short time. The fees charged by these two institutions are different. At present, the charging standard is: Visa: 175 USD/piece, MasterCard: 148 USD/piece.
Reference source; Baidu encyclopedia-MasterCard
Baidu encyclopedia-credit card