Credit card, also called debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits.
Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to a credit card in which the cardholder has a certain credit limit and can spend first and then repay. Quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund according to the regulations, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the prescribed credit limit. Credit cards generally refer to credit cards.
Credit card function:
1. Cash deposit in advance is not allowed. You can enjoy an interest-free repayment period and can repay in installments (minimum repayment amount). Join VISA, Master Card, JCB and other international credit card organizations, which are universal.
2. It is one of the fastest developing financial services, and it can replace the traditional cash circulation in a certain range.
3. It has both payment and credit functions. Cardholders can use it to buy goods or enjoy services, and they can also use credit cards to obtain certain loans from card issuers.
It is a high-tech product integrating financial business and computer technology.
5. It can reduce the use of cash currency.
6, can provide settlement services, convenient shopping and consumption, enhance the sense of security.
7. It can simplify the collection procedure and save social labor.
8. It can promote commodity sales and stimulate social demand.