The number on the back of the credit card can be blocked or crossed out with a pen, and it will not affect the ability to swipe the card because it is underneath the magnet.
1. The three-digit CVV is generally used in conjunction with the card’s validity period, password and mobile phone verification code, and is unlikely to be leaked.
As long as you remember the last three digits, you can cross them out or black them out.
2. But be sure to remember the last three digits and never forget them.
Six secrets behind credit cards:
1. Installment may not be cost-effective
Although credit card installments will not generate interest, they will charge handling fees of tens of millions. Don't underestimate the handling fee, there is a lot of knowledge in it.
For example: If you use a credit card to make purchases, you want to repay in 12 installments. The rate for each installment is 0.5. It seems that the rate is very low, only 0.5×12=6 per year. But this is wrong. The bank’s standard annual rate calculation formula is as follows:
Annual rate = 12 × fee rate per installment × number of installments/[(1 number of installments)/2] =24×number of installments×handling fee rate per installment/(1 installment)
Let’s enter the data into this formula to calculate: annual rate =24×12×0.05/(1 12 )=11.077
11.077 is almost twice as much as 6, so installment payment is just a superficially low interest rate. Relying on installment payment to make money from the bank is just a dream!
2. There are tricks to early repayment
When you use a credit card to make a purchase, you need to pay the consumption amount in installments, but the installment fees charged by each bank statement vary greatly. , but they all have one thing in common: even if you repay early, there will be a handling fee for each period. Some banks will even charge an early repayment handling fee.
3. The more credit cards you have, the greater the limit?
In fact, at the same bank, the limit for opening one bank is the same as the total limit for opening 10 bank accounts.
For example: Your credit card limit in a certain bank is 100,000. If you have only one credit card, the limit of this credit card is 100,000; if you have 10 credit cards in the same bank, these 10 credit cards Just enjoy this 100,000 quota.
4. Use a credit card as a savings card
For convenience, many people only use one card and put all the extra funds into the credit card. In addition, the credit card can also earn points. You can get more discounts on activities, but this is actually less cost-effective. The reasons are as follows: there will be no interest when depositing money into a credit card; there may be a handling fee for withdrawing cash from a credit card; except for a few banks that do not charge a handling fee, other banks charge 10-30 yuan.
5. Credit card cash withdrawals are not interest-free
Many people think that credit card cash withdrawals are interest-free like credit card purchases, but this is not the case. At present, most credit card cash withdrawals charge an interest rate of 0.5% per day, which can be converted into an annual interest rate of about 18%. So those who want to withdraw cash from their credit cards must think twice.
6. The minimum repayment may also charge full interest
When making large purchases, it is temporarily impossible to repay the full amount, so many people choose to repay the minimum repayment amount. payment, as this prevents bad records from being created. But many people don’t know that interest is calculated from the day of consumption. There is no interest-free period, and interest is calculated in full. The repaid portion is still calculated as the interest calculation base before the entire amount is paid off. Calculated based on an overdraft of 10,000 yuan, although 9,900 yuan has been repaid, the interest is still calculated as 10,000 yuan, and the interest is still "compounding interest".
However, some banks have now canceled this requirement and only charge interest on the unpaid portion. So before deciding to repay the minimum repayment amount, be sure to consult with the bank clearly.