My father and I applied for the Bank of China Lucky Cat Credit Card. My father is the main card and I am the supplementary card. Why can’t I overdraw? !

The usage limit for the additional card can be set within the main card limit (for the Great Wall card, the usage limit is the data usage).

The above content is for your reference, please refer to actual business regulations.

Why is the credit card suddenly unable to be overdrawn?

If it is a China Merchants Bank credit card, please check whether there is still an available limit. If you have any questions, you can call the credit card customer service to verify.

The available limit refers to the credit limit of your credit card that has not been used. The calculation method is as follows: credit limit - unpaid amount that has been paid out - accumulated amount that has been used but not recorded in the account = available limit

My card is a credit card. Why can't I overdraft?

Several situations:

1. The credit card has not been activated. After applying for the credit card and receiving it, it still needs to be activated. An unactivated credit card cannot be used.

2. The overdraft limit has been used up. .

3. The consumption behavior does not support credit card transactions.

4. Due to violation of credit card usage rules, the credit card is frozen or canceled.

Why can't my credit card be overdrawn?

If you can’t overdraft, you don’t have a credit card, it’s a debit card.

Bank cards are divided into credit cards and debit cards, and credit cards are further divided into credit cards and quasi-credit cards. Debit cards are ordinary savings cards, which are current deposit accounts and can be used for consumption, ATM deposits and withdrawals, etc.;

Credit cards can be used for consumption, ATM deposits and withdrawals, etc. The biggest advantage is that they can be overdrafted ( There is a certain credit limit).

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A credit card refers to a credit card in which the issuing bank gives the cardholder a certain credit limit, and the cardholder can consume within the credit limit first and repay later.

A quasi-credit card refers to a credit card in which the cardholder first deposits a certain amount of reserve fund as required by the bank. When the reserve fund is insufficient to pay, the cardholder can overdraw within the credit limit specified by the card-issuing bank.

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Debit cards are divided into debit cards, special cards, and stored-value cards according to different functions. Debit cards cannot be overdrawn.

The debit card has the functions of transferring money, depositing and withdrawing cash, and spending money.

Specialized cards are debit cards used in specific areas and for special purposes (referring to purposes other than department stores, restaurants, and entertainment industries). They have the functions of transferring funds, depositing and withdrawing cash. A stored-value card is a prepaid wallet-style debit card in which the bank transfers funds to the card for storage at the request of the cardholder and directly deducts funds from the card during transactions.

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The following are the differences between the two cards:

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1. Credit cards are (consumer credit products) first To repay after consumption, the debit card must be deposited first and then used;

2. Credit cards can be overdrafted, but debit cards cannot be overdrafted;

3. Credit cards have a revolving credit limit, and debit cards have a revolving credit limit. There is no revolving credit limit for credit cards; (Revolving credit is the limit that the bank has approved for the cardholder. The cardholder does not need to repay the balance in full if he uses it within the limit. He only needs to pay the minimum repayment amount stipulated, and he can maintain the credit limit. If the credit record is good, the cardholder's credit limit can be reused again)

4. If the credit card holder repays the payment in full before the final payment date, he or she will enjoy an interest-free repayment period for shopping purchases. ;

5. Credit card deposits do not accrue interest, and debit card deposits are accrued at savings interest rates;

6. Credit cards are asset businesses, and debit cards are liability businesses;

7. Credit card issuance must meet relevant conditions (such as the situation of the work unit, assessment of repayment ability, review of personal credit record, etc.), and debit cards only need to have an ID card;

8. Credit cards have anti-counterfeiting logos and UnionPay logos, while debit cards only have UnionPay logos.

What are the restrictions on credit card overdrafts?

Credit card overdraft has two meanings. One refers to consumption using the credit limit, and the other refers to over-limit consumption exceeding the credit limit. Regardless of the type, if the money is not repaid on the repayment date after overdraft consumption, interest will be deducted.

Credit card overdraft is a short-term overdraft granted by the credit card issuer to the cardholder within the specified limit when making purchases with the card. For credit cards, allowing "spend first, repay later" and overdraft are important features.

For debit credit cards, "deposit first, then spend", but on the premise that it is determined to be a bona fide overdraft and repayment is guaranteed, cardholders are also allowed to overdraft an appropriate amount within a short period of time when they are in urgent need of funds. Overdraft interest is generally much higher than that of bank loans in the same period, and card issuers have a complete set of measures to prevent and pursue overdraft risk losses.

The maximum overdraft period for a credit card is 60 days.

Credit card overdraft interest will be calculated at a daily interest rate of 0.05% within 15 days from the date of signature or bank accounting (including the current day), and a daily interest rate of 10% for more than 15 days, and a daily interest rate of 10% for more than 30 days. Or if the overdraft amount exceeds the prescribed limit, the daily interest rate will be calculated at 15%. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount.

Take a card purchase of 50,000 yuan as an example. If there is a period of 45 days from the accounting date to the repayment date, and the cardholder repays 40,000 yuan on the repayment date, the remaining 10,000 yuan has not been repaid on time. If you hold a card from China Construction Bank or China Merchants Bank, you need to calculate interest at a rate of 50,000 yuan per day based on 50,000 yuan, and you need to pay overdraft interest of 1,125 yuan within 45 days; if you hold a credit card from ICBC, you only need to pay For the overdraft interest on the unpaid 10,000 yuan, the overdraft interest to be paid within 45 days is 225 yuan, a difference of 5 times. If the failure to repay the loan on time is not due to the inability to repay, but due to a very small error due to misremembering, the difference is even greater.

If a consumer is overdrafted in full and unable to repay on time, overdraft interest and other fees will be incurred, causing the amount of debt to exceed the limit. Since the overdraft is due to the fees of the credit card itself, for this In this case, some banks do not charge additional fees. For example, China Construction Bank and China Merchants Bank Credit Card Centers have stated that there is no provision for over-limit fees.

However, ICBC and China CITIC Bank Credit Card Center stated that if the amount owed exceeds the credit card limit, an over-limit fee of 5% will be charged for the excess amount. However, ICBC stated that within an over-limit period, , is only charged once, while CITIC Bank stated that the over-limit fee is calculated with monthly compound interest.

If a cardholder uses an organizational card for overdraft, his or her organization shall be responsible for repaying the overdraft amount and paying overdraft interest. If a cardholder has an overdraft using a personal supplementary card, the principal cardholder shall be responsible for repaying the overdraft amount and paying overdraft interest; if the principal cardholder loses the ability to repay, the supplementary cardholder shall be responsible for the overdraft. Repayment of the amount and liability for payment of overdraft interest.

That’s it for the introduction of why credit cards cannot be overdrafted.