A credit card is a credit certificate issued by a commercial bank for consumers to purchase goods and pay expenses. Consumers can withdraw cash, purchase goods, etc. by signing the card at designated banks, stores, etc., and can overdraft small amounts of cash.

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. It is 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.

Extended information:

Application

In most cases, those with full capacity for civil conduct (citizens over 18 years old in mainland China), have certain Citizens with direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also be applicants.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country.

Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank.

After the customer fills in the application form truthfully, he or she must also submit relevant credit certificates while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

Baidu Encyclopedia - Credit Card