Advanced consumption with a credit card means borrowing money from the bank in advance for consumption and then repaying it.
Credit cards are issued by commercial banks to individuals and organizations. They can be used to shop and consume with special organizations and deposit and withdraw cash from banks. They are special carrier cards with consumer credit. They are in the form of a card with the card issuing number printed on the front. Cards with bank name, validity period, number, cardholder name, etc., and a magnetic stripe and signature strip on the back. Credit cards are divided into two types: credit cards and quasi-credit cards based on whether a reserve fund is deposited with the card-issuing bank. A credit card is a certain credit limit given by the card-issuing bank to the cardholder. The cardholder can spend within the credit limit first and then Credit card repayment. A quasi-credit card is a credit card that requires a certain amount of reserve deposit to be deposited first as required by the card-issuing bank. What we call credit cards now generally refers to credit cards only.
The most popular way to put it is: when your shopping needs exceed your ability to pay, you can borrow money from the bank. A credit card is a certificate that the bank agrees to lend you money based on your integrity. The credit card will tell you how much you can borrow from the bank and when you will pay it back. The credit card will also record your personal information and consumption details in order to provide you with comprehensive financial services.
In appearance, a credit card is about the size of an ID card and is generally made of special plastic. The front is printed with a specially designed pattern, the name and logo of the card issuer, and is printed in embossed or flat form. The card number, name of the holder, expiration date and other information; on the back of the card, there is a magnetic strip used to record relevant information, a signature strip for the cardholder to sign, and instructions from the card issuer.
It is a consumer payment tool and is currently the most popular plastic currency after cash.
A credit certificate issued by a bank or company that proves the holder is in good standing and can make accounting purchases in designated stores or places. Ordinary credit cards are about the size of an ID card and are generally made of special plastic. The name, number, expiration date, etc. of the holder are printed on the credit card in embossed characters. In order to prevent fraudulent claims, some credit cards in recent years have been printed with the cardholder's photo. When a customer makes a purchase and checks out, he only needs to hand his credit card to the store, and the cashier will put the credit card on the imprinting machine to imprint it. The embossed words will be printed on a triple document, and then the cardholder will print on the document. After signing, the store cashier checks the signature on the document and the signature pattern on the credit card to confirm the debited consumption, and the cardholder can purchase the required goods without paying cash. In addition to purchasing various commodities, dining, entertainment, and accommodation at special merchants with their card signatures, credit card holders can also make a certain limit of cash overdraft to the bank designated by the card issuer. Special merchants and designated acceptance banks collect payment from the card issuer based on the bill signed by the cardholder, and then the card issuer sends it to the cardholder for verification, and the payment must be made within the specified period. When the cardholder pays off the balance, the card issuer will charge interest on the overdraft amount in accordance with regulations. If the balance is not paid when due, penalty interest will be charged.