1. Simply put, it is divided into two major types: debit card and credit card.

Credit cards also include sub-credit cards and quasi-credit cards.

(1) Credit card refers to a credit card in which the 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.

(2) 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.

Classification method

Generally, bank cards are divided into credit cards and debit cards according to whether they grant the cardholder a credit limit. In addition, bank cards can also

be divided into magnetic stripe cards and chip cards according to different information carriers;

are divided into domestic cards and overseas cards according to whether the issuer is in the country;

It is divided into personal cards and corporate cards according to the issuing objects;

It is divided into RMB cards, foreign currency cards and dual-currency cards according to the account currency.

Debit card

The back of common bank cards

Debit cards are divided into transfer cards, special cards and stored-value cards according to their 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 (debit card) 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

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.

Credit card

Credit card (Credit card), often called credit card, refers to a certain credit limit given by the issuing bank to the cardholder. The cardholder can use the credit limit within the credit limit. A credit card where you spend first and pay 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.

Quasi-credit card

A quasi-credit card is a single-currency, single-account credit card that bears interest on deposits and settles card purchases in RMB. It has the functions of transfer settlement, cash deposits and withdrawals, Credit consumption, online banking transactions and other functions. When the account balance is insufficient for payment by swiping the card for consumption [18] or withdrawing cash, the cardholder can overdraft consumption or withdraw cash within the prescribed limited credit limit, and charge a certain amount of interest. 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 complete at that time, the Chinese banking industry made certain changes to foreign credit card products. The traditional foreign credit card credit card deposits had no interest and overdrafts had an interest-free period. Instead, deposits had interest and overdrafts were not interest-free.

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.

Taken together, the main characteristics of quasi-credit cards are:

(1) Applying for a quasi-credit card generally requires paying a deposit or providing a guarantor;

(2) Interest is calculated on deposits in the quasi-credit card;

(3) The quasi-credit card can be overdrafted, but there is no interest-free repayment period for overdrafts, and interest can be calculated from the day of the overdraft. And must be paid off in one lump sum with no minimum payment.

As a transitional product in the development process of China's credit card industry, quasi-credit cards are gradually withdrawing from the stage of history. In our real life, the usage and significance of quasi-credit cards are gradually decreasing.