Credit cards are debit cards, which can be overdrafted and paid back later.

Credit cards are mainly used to consume first and repay later. You can use bank funds to consume in advance and enjoy the interest-free period. This is a financial management method. Credit cards can be used as payment tools and can be consumed directly through the card-swiping POS machines or online payment platforms installed by merchants. Banks will also provide various forms of points, discounts, installments, draws, promotions and other activities.

Extended information:

The earliest credit card appeared at the end of the 19th century. Credit Cards In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors also followed this trend. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit limit.

There is no need to pay cash when using a credit card, and repayment will be made on the billing date.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.