1. 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.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on the Provisions on Credit Cards of the People's Republic of China and the Criminal Law of the People's Republic of China") refer to those issued by commercial banks or other financial institutions. An electronic payment card with all or part of the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal, etc.? 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.

2. Debit Card refers to a bank card issued by the issuing bank to the cardholder. It has no credit limit and the cardholder deposits first and uses it later.

Debit cards are divided into debit 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 (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.

Extended information:

Debit card functions

1. Deposit and withdraw cash. Most debit cards have local and foreign currency, fixed-term, current and other savings functions. Debit cards can be deposited and withdrawn at card-issuing bank outlets, self-service banks, and can also be withdrawn from ATM machines (cash machines) across the country and even around the world.

2. Transfer and remittance. Cardholders can transfer or remit money to other accounts through bank branches, online banking, self-service banking and other channels.

3. Spend by credit card. Cardholders can use their debit cards to make purchases at merchants.

4. Collection and payment. Debit cards can be used to pay wages and pay various fees (such as communication fees, water bills, electricity bills, gas bills, etc.).

5. Asset management. Wealth management products, open-end funds, insurance, personal foreign exchange transactions, precious metal transactions, etc. can all be signed, traded and settled through debit cards.

6. Other services. The services of many bank debit cards have extended beyond financial services, such as providing cardholders with airport VIP access, medical and health services, etc.

Baidu Encyclopedia-Debit Card

Baidu Encyclopedia-Credit Card