A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

The credit card stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on lt; the People's Republic of China and the Criminal Law of the People's Republic of China; and the relevant provisions on credit cards") refers to a credit card issued by a commercial bank or other financial institution. An electronic payment card issued by an institution that has all or part of the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal, etc. [1-2]. 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 cards is Credit Card.

A credit card is generally a special carrier plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front, and there is a chip on the back. Magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.

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. Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; a quasi-credit card refers to a credit card in which the cardholder can A quasi-credit card that deposits a certain amount of reserve fund and can be overdrafted within the specified credit limit when the reserve account balance is insufficient for payment. The so-called credit card generally refers to a credit card only.

Extended information:

Credit card settlement funds

1. Submit the transaction statement

The merchant will submit the transaction statement or cash withdrawal signed by the cardholder The order is confirmed by our acquiring bank, and we will clear the account with the acquiring bank and recover the advanced funds.

2. Request payment

The acquiring bank deducts a certain handling fee when paying to the special merchant, and the acquiring bank submits a payment request to the card issuing bank. This process is accomplished by transmitting the charge file to the card issuing bank.

3. Payment

If the issuing bank has no objection to the transaction, it will pay the acquiring bank and share the business handling fee with the acquiring bank through withholding. Otherwise, it will enter the stage of chargeback or repayment, and it may even be submitted to a higher-level organization for adjudication.

4. Cardholder payment

The card issuer will issue a statement, that is, a payment notice, to the cardholder at the end of each month or on an agreed date. The cardholder shall confirm the information on the statement. After the transaction is confirmed, pay the corresponding amount to the card issuing bank.

Baidu Encyclopedia-Credit Card