Penalty for surrendering for credit card fraud of RMB 500,000: In addition to being sentenced to fixed-term imprisonment of not more than five years or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan, the penalty is reduced. The crime of credit card fraud refers to the act of using credit cards to conduct fraudulent activities for the purpose of illegal possession, violating credit card management regulations, and defrauding a large amount of property.

Legal Basis

Article 196 of the "Criminal Law"

Whoever commits credit card fraud in any of the following circumstances and the amount is relatively large shall be punished Whoever commits a crime shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; if the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan. A fine of not less than 50,000 yuan but not more than 500,000 yuan, or confiscation of property:

(1) Using a forged credit card, or using a credit card fraudulently obtained with false identification;

(2) Using an expired credit card;

(3) Pretending to use another person’s credit card;

(4) Malicious overdraft.

The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank. Anyone who steals a credit card and uses it shall be convicted and punished in accordance with the provisions of Article 264 of this Law.