credit card

Originoftheproduct

Theearliestcreditcardsappearedattheendofthe19thcentury.Inthe1880s,theBritishclothingindustrydevelopedtheso-calledcreditcard,andthetourismandcommercialsectorsfollowedthistrend.However,thecardsatthattimecouldonlybeusedforshort-termcommercialcreditloans,andpaymentswerestillrequiredtobepaidastheywereused,andcouldnotbeinarrearsforalongtime,andtherewasnocreditline.

Creditcardsaregenerallyspecialplasticcardswithalengthof85.60mm,awidthof53.98mm,andathicknessof1mm.Thecardissuer’sname,expirydate,number,cardholder’sname,etc.areprintedonthefront,andthebackhasachip,Magneticstripe,signaturestrip.Cardholderscanusetheircreditcardstomakepurchases,purchasesandcashdepositsfromandtobanks.

Itissaidthatonedayinthe1950s,AmericanbusinessmanFrankMcNamarawasentertainingguestsataNewYorkrestaurant.Aftereating,hefoundthathehadforgottentobringhiswalletwithhimandhadtocallhiswifetobringcash.Cametothehoteltocheckout,soembarrassed,soMcNamarahadtheideaof​​creatingacreditcardcompany.Inthespringof1950,McNamaraandhisfriendSchneiderjointlyinvested$10,000andfoundedtheDinersClubinNewYork,thepredecessorofDinersCreditCardCompany.DinersClubprovidesmemberswithacardthatcanprovetheiridentityandabilitytopay.Withthecard,memberscangotothedesignated27restaurantstorecordtheirconsumptionwithouthavingtopaycash.Thisistheearliestcreditcard.Thenatureofthiskindofcreditcardthatdoesnotrequireabanktohandleisacommercialcreditcard.

In1952,FranklinNationalBankinCalifornia,USA,asafinancialinstitution,firstissuedabankcreditcardandbecamethefirstbanktoissueacreditcard.

In1959,theBankofAmericaintheUnitedStatesissuedaBankofAmericacardinCalifornia.Sincethen,manybankshavejoinedtheranksofcard-issuingbanks.Inthe1960s,bankcreditcardswerequicklypopularizedbyallsectorsofsocietyanddevelopedrapidly.CreditcardsbecamepopularnotonlyintheUnitedStates,butalsointheUnitedKingdom,Japan,Canada,andEuropeancountries.Sincethe1970s,HongKong,Taiwan,Singapore,Malaysiaandotherregionshavealsobeguntohandlecreditcardbusiness.

Inthe1960s,creditcardssproutedanddevelopedrapidlyindevelopedcountriesinEuropeandAmerica,suchastheUnitedStates,Canada,andtheUnitedKingdom.Aftermorethan50yearsofdevelopment,creditcardshavebeenwidelyacceptedinmorethan95%ofcountriesaroundtheworld.Inthe1980s,withthereformandopeningupandthedevelopmentofthemarketeconomy,creditcardsasanelectronicandmodernconsumerfinancialpaymenttoolbegantoenterChina,andinthepasttenyears,theyhaveachievedleapfrogdevelopment.

Afterexperiencingthefinancialcrisisandtheupsanddownsofthedomesticeconomy,mycountry'screditcardmarkethaspickedupin2016.Asoftheendof2016,thetotalnumberofdomesticcreditcardsissuedhasexceeded590million.In2016,thenationalcreditcardconsumptiontransactionvaluereached741.81trillionyuan,anincreaseof10.75%,andtheproportionofcreditcardconsumptioninthetotalretailsalesofconsumergoodscontinuedtoincrease.

Accordingtothe2013-2017ChinaCreditCardIndustryIn-DepthResearchandInvestmentStrategicPlanningAnalysisReport,since2010,inordertocurbtheexcessiveriseofassetpricesandcontrolinflation,theChinesegovernmenthasimplementedaprudentmonetarypolicy.Aseriesofmoderateausteritymeasureshavebeenadopted,indicatingthatmacroprudenceandstrengtheningcapitalsupervisionhavebecomethecoreofcurrentChinesebankingsupervision.Varioustighteningmoneysupplyoperationsandcapitalrestraintpolicieshaveaffectedtheliquiditylevel,creditreleaserhythmandstructureofChinesecommercialbanks.Allhadaprofoundimpact.Theanalysisbelievesthattheevolutionoftheindustrystructurehasfurtheroptimizedanddiversifiedtheproductportfolio,andhasalsoincreasedtheresearchanddevelopmentofnewindustrystandardsandmobilepayments;deepeningofcreditpenetration;andinstalmentbusinessdevelopment.

InFebruary2012,thebankconfirmedthatthecreditcardismoresecurewithoutapassword,andthebanksharestheresponsibilityifitisstolen.Enjoyaninterest-freeperiodof25-56days(or20-50days).Creditcardconsumptionenjoysaninterest-freeperiod,andthebillamountwillbepaidoffbeforetheduedateofrepaymentwithoutincurringcharges.Thereisnointerest-freerepaymentperiodforcashwithdrawal.Fiveten-thousandthsofadailyinterestwillbechargedfromthedayofcashwithdrawal,andthebankwillalsochargeacertainpercentageofcashwithdrawalfees.

China’screditcardmarketisstilloneofthefastest-growingproductlinesinChina’spersonalfinancialservicesmarket.Althoughtheindustry’seconomicbenefitsarefullofchallenges,itisdrivenbyeconomiesofscaleandgrowthinconsumerspending.Theaverageannualgrowthrateofcreditcardissuancewillremainatabout14%,andprofitabilitywillalsotendtoimprove.Itisexpectedthatby2020,thecumulativenumberofcreditcardsissuedinChinawillexceed800million.

Productcategory

• Accordingtodifferentcardissuers,itcanbedividedintobankcardsandnon-bankcards

• Bankcard.Thisisacreditcardissuedbyabank.Cardholderscanmakepurchasesatthespecialmerchantsoftheissuingbank,andcanalsowithdrawcashatanytimeatallbranchesoftheissuingbankorinplaceswithautomatictellermachines.

• Non-bankcard.Thistypeofcardcanbespecificallydividedintoretailcreditcardsandtravelandentertainmentcards.Retailcreditcardsarecreditcardsissuedbycommercialinstitutions,suchasdepartmentstores,oilcompanies,etc.,whichareusedforshoppingindesignatedstoresorrefuelingatgasolinestations,andcheckoutregularly.Travelandentertainmentcardsarecreditcardsissuedbyserviceindustries,suchasairlines,travelcompanies,etc.,forticketpurchase,dining,accommodation,entertainment,etc.

• Accordingtothedifferentissuers,itcanbedividedintocompanycardsandpersonalcards

• Companycard.Thecompanycardisissuedtovariousindustrialandcommercialenterprises,scientificresearchandeducationinstitutions,nationalpartyandgovernmentagencies,troops,organizationsandotherlegalentities.

• Personalcard.Individualcardsareissuedtoindividualurbanandruralresidents,includingworkers,cadres,teachers,scientificandtechnologicalworkers,self-employedhouseholds,andotheradulturbanandruralresidentswithastablesourceofincome.Thepersonalcardisappliedforinthenameofanindividualwhobearsalltheresponsibilitiesofusingthecard.

• Accordingtothecardholder’screditstatus,statusandothercreditconditions,itcanbedividedintoordinarycardsandgoldcards

• Ordinarycard.Ordinarycardsareissuedtocardholderswithaverageeconomicstrength,reputationandstatus,andtheirvariousrequirementsarenothigh.

• Goldcard.Thegoldcardisapremiumcreditcardthatpayshighmembershipfeesandenjoysspecialtreatment.Thecardissuancetargetsarethosewithhighcreditworthiness,strongrepaymentabilityandcredit,orwithcertainsocialstatus.Thestartingpointfortheauthorizationlimitofthegoldcardishigher,andtheadditionalserviceitemsandscopearemuchwider,sotherequirementsforrelatedservicefeesandguaranteefundsarealsorelativelyhigh.

• Accordingtodifferentpaymentmethods,creditcardscanbedividedintocreditcardsandquasi-creditcards

• Creditcard.Itiswhentheissuingbankprovidesbankcredit,itisfirstusedforoverdraft,andthenrepaidorpaidininstallments.Mostofthecardsusedininternationalcirculationareofthistype.Thatistosay,thewaytoallowcardholderstorepaywithoutdepositingtheircreditcardaccountsis"consumptionfirst,depositlater".Mostofthecardsusedininternationalcirculationareofthistype.

• Quasicreditcard.Itisacreditcardissuedbyabankthatdepositsfirstandthenconsumes.Whenapplyingforacreditcard,acardholderneedstodepositacertainamountofmoneyinthecardissuingbankinadvance.Thecardholderneedstousethecardbasedonthedepositbalanceandgenerallydoesnotallowoverdraft.

• Accordingtothedifferentcirculationofcreditcards,itcanbedividedintointernationalcardsandregionalcards

• Internationalcard.Aninternationalcardisacreditcardthatcanbeusedoutsidethecountryofissue,andisusedglobally.MasterCard,VisaCard,AmericanExpressCardissuedbythefivemajoroverseasgroups(MasterCardOrganization,VisaInternationalOrganization,AmericanExpress,JCBCreditCardCompany,andDinersClubCreditCardCompany)respectively),JCBCardandDinersClubCardaremostlyinternationalcards.

• Regionalcard.Aregionalcardisacreditcardthatcanonlybeusedwithinthecountryofissueorwithinacertainarea.Mostofthevarioustypesofcreditcardsissuedbycommercialbanksinmycountryareregionalcards.

Mainfeatures

• • Pre-depositcashisdiscouraged,firstconsumeandthenrepay,enjoyinterest-freeTherepaymentperiodcanberepaidbyindependentinstalments(thereisaminimumrepaymentamount),anditcanbeaddedtointernationalcreditcardorganizationssuchasVISA,MasterCard,andJCBforglobaluse.

  • Itisoneofthefastestgrowingfinancialservicestoday,anditisanelectroniccurrencythatcanreplacetraditionalcashcirculationwithinacertainrange.

• • Ithasbothpaymentandcreditfunctions.Cardholderscanuseittopurchasegoodsorenjoyservices,andcanalsoobtainacertainamountofloansfromthecardissuerbyusingacreditcard.

  • Itisahigh-techproductintegratingfinancialbusinessandcomputertechnology.

  • Canreducetheuseofcashcurrency.

  • Canprovidesettlementservices,facilitateshoppingandconsumption,andenhancethesenseofsecurity.

  • Itcansimplifycollectionproceduresandsavesociallabor.

  • Itcanpromoteproductsalesandstimulatesocialdemand.

Featurecomparison

Advantages

• Comparedwithordinarybanksavingscards,creditcardsInotherwords,themostconvenientwaytouseitistomakeordinaryconsumptionwhenthereisnocashinthecard.Inmanycases,itisenoughtoreturntheconsumptionamountontime.

• Youcanoverdraftconsumptionwithoutdeposits,andenjoya20-56dayinterest-freeperiodforon-timerepaymentofinterestwithoutanypenny(thedaymostbankswithdrawcash)Itwillchargeaten-thousandthofaninterestanda2%handlingfee.ICBCwillnotchargeahandlingfeeforcashwithdrawals,andonlychargeinterest).

• Swipingcardwhenshoppingisnotonlysafeandconvenient,butalsogiftpoints.

• Youcanenjoydiscountswhenyouspendwithyourcardatthebank’sdesignatedmerchants.

• Accumulatepersonalcreditandaddintegrityrecordstoyourcreditfile,whichwillbenefityouthroughoutyourlife.

• Theaccessibilityofthecountryisbarrier-free.YoucanwithdrawmoneyorswipeyourcardonATMsandPOSmachineswiththeUnionPaylogo;(Note:Creditcardsareonlysuitableforconsumptionandcreditcards.Itisbestnottowithdrawcash.Theprocessingfeeisveryhighandit’snotcost-effective)

• Swipecardconsumption,somecreditcardstogetexistingpoints,avarietyofdiscountsandsweepstakesthroughouttheyear,sothatyoucanalwaysfeelaslongasyouuseyourcardSurprise;(mostcreditcardonlinepaymentdoesnothavepoints,butonlineshoppingpaymentisveryconvenientandfast)

• Freemonthlymailingstatements,allowingyoutotransparentlycontroleachconsumerexpenditure;(Wearenowadvocatinggreenandenvironmentalprotection.Youcancancelthepaperstatementandchangeittoanelectronicstatement)

• Theuniquesupplementarycardfunctionissuitableformarriedcouplestomanagefinancialaffairstogetherorcontrolthefinancialexpenditureoftheirchildren.

• Afreelychosenformofonecardanddualcurrency,whichcanbeusedallovertheworld,andoverseasconsumptioncanberepaidinRMBinChina.

• 400telephoneor9-character5-digitshortnumberisavailable24hoursaday,reportlosstakeseffectimmediately,andthereisnoriskoflosingacard.

• Haveavalidityperiod:Itisknownthatthevalidityperiodofdomesticcreditcardsisgenerallythreeorfiveyears.

• Usingthird-partyplatforms(thedomesticplatformthatsupportscreditcardbillmanagementismainlyJujindou)forbusinesscooperationandprovidingcardholderswithpreferentialservices.

Disadvantages

• Theinventionofthecreditcardislikeadouble-edgedswordthatcansolvethetemporaryeconomiccrisis,Butthepurposeofissuingcreditcardsbybanksistomakemoney.Oncethetimeforinterest-freerepaymentisexceeded,theywillchargeahighamountofinterest,usuallyfiveten-thousandthsofaninterestperday.

• Blindconsumptionswipingacardisnotlikepayingcashtospendonebyonebanknotes,oneswiping,thereisnofeeling,afewnumbers,leadingtoblindconsumption,spendingmoneySuchasrunningwater.

• Excessiveconsumptionofnotebookinstallment,digitalcamerainstallment,smartphoneinstallment,whileenjoyingyourfavoriteitemsinadvance,youmustalsoconsiderwhetheryouhavetheabilitytorepay.

• HighinterestratesIfyoudon’tmanageyourcreditcardandthefinalrepaymentdateisreachedandyoucan’tmakerepaymentsasscheduled,thebankwillchargeyouhighinterestrates.(Theminimumrepaymentofthecreditcardinthefirstmonthshallnotbelessthan10%oftheoverdraftamountofthecurrentmonth)

• Theannualfeeisrequired.Creditcardsbasicallyhaveannualfees,butbasicallyThereisanannualfeewaiverpolicy.Forexample,CCBcanbewaivedbyswipingthreetimesayear;however,ifyoudonotswipeyourcardthenumberoftimesspecifiedbythebankinayear,youneedtochargeanannualfee.

• Thestolencreditcardisbasicallythedefaultpassword-freecreditcardconsumption,whichiseasytobestolenbyotherswhenlostorstolen,causingunnecessarytroubleorloss;Butinfact,acreditcardcanalsobeusedtopaywithapassword—itdependsonhowyoumanageyourcreditcard.Ofcourse,manypeoplelackexperienceinthisareaandhavenotcancelledtheiraccountaftercancelingtheircreditcard.Re-applyingforacreditcardoverdraft,thelossisinvain,itisnotworthit.

• Affectingpersonalcreditrecordsforlong-termmaliciousarrearswillnaturallyaffectpersonalcreditrecords,andevenbeblacklistedbythebank.Ifyouwanttoborrowmoneyfromthebanktobuyahouseandacar,youwillhaveMayberejectedbythebank.

• ThetroubleofcancellationCCTVoncereportedthattherewasacardholderwhohadpaidoffallthedebtsandcancelledthecreditcardandstillreceivedabankstatementafewmonthslater.Whathappenedafterwardsmadehimtosshim.Themiseryisbeyondwords,thisarticletitled"UnpaidCreditCards"exposestheshortcomingsoftoday'screditcards.

• Althoughthecreditcardhasaninterest-freeperiod,itisonlyforcreditcardconsumption.Thereisnointerest-freeperiodforcashout,andahandlingfeeisalsocharged.

ProductGuide

Application

Inmostcases,fullcapacityforcivilconduct(inMainlandChinaisCitizenswhohavereachedtheageof18)andcitizenswithacertaindirectsourceofincomecanapplyforacreditcardfromtheissuingbank.Sometimes,legalpersonscanalsoactasapplicants.

Theobjectofapplyingforacreditcardcanbedividedintounitsandindividuals.Theapplicantsshouldbeinstitutions,corporatebusinessunits,foreign-fundedenterprisesandindividualindustrialandcommercialhouseholdswithindependentlegalpersonalityinmycountry.Eachunitapplyingforacreditcardcanreceiveonemaincardandmultiple(5-10)supplementarycardsasneeded.Toapplyforacreditcard,anindividualmusthaveafixedcareerandastablesourceofincome,andprovideaguaranteetothebank.Theformsofguaranteeincludepersonalguarantee,unitguaranteeandpersonalfundguarantee.

Theapplicationmethodisgenerallybyfillinginacreditcardapplicationform.Thecontentoftheapplicationformgenerallyincludesthenameoftheapplicant,basicinformation,economicstatusorsourceofincome,guarantorandbasicinformation,etc.Andsubmitcertaincopiesofcertificatesandcertificatestotheissuingbank.Afterthecustomerfillsintheapplicationformtruthfully,he/shemustsubmittherelevantcreditcertificatewhilesubmittingthecompletedapplication.Theapplicationformisaccompaniedbyacreditcardcontract.Theapplicantauthorizesthecardissuingbankorrelevantdepartmentstoinvestigateitsrelevantinformation,andsubmitastatementoftheauthenticityoftheinformation,thecardissuingbank’sprivacyprotectionpolicy,etc.,andtheapplicant’sautographisrequired.

Review

Afterreceivingtheapplicationformandrelatedmaterialssubmittedbytheapplicant,theissuingbankshallreviewthecreditworthinessoftheapplicant.Thecontentofthereviewmainlyincludeswhetherthecontentoftheapplicationformistrue,theapplicantmustalsoevaluateitscreditworthiness,andtheindividualmustalsoreviewtherelevantsituationoftheguarantor.

Usually,thebankwilldeterminewhethertoissueacreditcardtotheapplicantbasedontheapplicationmaterials,examiningtheapplicant’svariousinformationandeconomicconditions.Thefactorstobeconsideredincludetheapplicant’spastcredithistory,theapplicant’sknownassets,professionalcharacteristics,etc.Thespecificfactorsandprocessofthecardissuer'sreviewarecommercialsecrets,anditisgenerallydifficultforoutsiderstounderstand.Thestandardsofeachcardissuingbankarenotthesame.Therefore,differentbanksmayissuedifferentcreditlinesforthesamematerials,differenttypesofcreditcards,andevensomebanksmaypassthereviewandsomebanksrefusetoissue..

CardIssuing

Aftertheapplicantsuccessfullyappliesforthecreditcard,theissuingbankwillopenaseparatecreditcardaccountforthecardholderattheissuingbankforshopping,consumptionandcashwithdrawalforsettlement.

Openingthecard

Sincethecreditcardapplicationisapproved,thecardissentoutbymail,sothereisnoguaranteethattherecipientistheapplicant.Inordertoprotectapplicantsandbanksfromstolencreditcardlosses,thecreditcardissetupwithacardopeningprocedurebeforeitisofficiallylaunched.ThecardopeningprocessismainlythroughthetelephoneortheInternet,etc.,tochecktherelevantpersonalinformationprovidedintheapplication,andcompletethecardopeningprocedureaftercompliance.Atthistime,theapplicantbecomesthecardholderandcanofficiallystartusingitaftersigningthecardontheback.Afterthecreditcardisopened,itisgenerallynecessarytosetupapasswordforthecardatthesametime.

Afteracceptingacreditcard,acreditcardmerchantorbankshallreviewthevalidityofthecreditcardandtheidentityofthecardholder.

Identification

Thereareatleastthefollowinginformationonthefaceofthecreditcard:

Front:nameandlogooftheissuingbank,typeofcreditcard(organizationlogo)andholographicanti-counterfeitingmark,Cardnumber,EnglishorPinyinname,activationdate(usuallycalculatedtothemonth),andeffectivedate(usuallycalculatedtothemonth).Thefrontofthenewlyissuedcardhasachipattached.Thechipaccountandthecard'smagneticstripeaccountaretworelativelyindependentaccounts.

Back:cardmagneticstripe,cardholder’ssignaturefield(mustsignafteractivation),servicehotline,lastfourdigitsofthecardnumberorallcardnumbers(topreventfraudulentuse),creditcardsecuritycode(inthecreditcardOnthesignaturebarontheback,the3digitsimmediatelyafterthelast4digitsofthecardnumberareusedforcreditcardactivation,passwordmanagement,TV,telephoneandonlinetransactions,etc.).

Authorization

Themerchantandbankconfirmthatthecreditcardisvalid,andcontactthebankaccordingtothecontractsignedwiththeissuingbanktorequestauthorization.Authorizationistheamountthatcanbeusedtofurtherverifytheidentityofthecardholder.Authorizationisgenerallycarriedoutwhentheusageamountexceedsthecontractualamount.

Afterreceivingtheauthorizationnotice,theissuingbankwillissueanauthorizationinstructionbasedonthedepositbalanceofthecardholder’sdepositaccountandthebank’sagreementtoallowoverdrafttoanswerwhetherornottoagreetothetransaction.

Use

Creditcardsareusuallylimitedtothecardholder'sownuse,andlendingtoothersforuseisgenerallyaviolationoftheusecontract.

Cancelingthecard

Beforecancelingthecreditcard,theaccountbalancemustbecleared,andtheentireprocessofcancelingthecardmustbecompletedwithin45daysaftertheapplicationissubmitted.

Usagestatus

POSmachineswipecard

SwipingcardonPOSmachineisthemostcommonwaytousecreditcard,whichisakindofnetworkswipingcardTheway.Whenswipingthecard,theoperatorshouldfirstcheckthevalidityperiodofthecreditcardandthecardholder'slastnameandotherinformation.Then,selectthecorrespondingPOSmachineaccordingtothecardissuingbankandthetypeofcurrencythatneedstobepaid.PassthemagneticstripeofthemagneticstripecreditcardonthePOSmachine,orinsertthechipcreditcardintothecardslot,connecttothebankandotherpaymentgateways,andenterthecorrespondingamount.Aftertheremotepaymentgatewayacceptstheinformation,thePOSmachinewillprintoutthereceiptofthecardpayment(atleasttwocopies),andthecardholdershouldsignthereceiptaftercheckingtheinformationonthepaymentreceipt.Aftertheoperatorchecksthesignatureonthereceiptandthesignatureonthebackofthecreditcard(includingthefullmatchofthenameandbasicallythehandwriting),thecardholderissentacopyofthecreditcardandthepaymentreceipttothecardholder.Atthispoint,thecardswipingprocedureonthePOSmachineiscompleted.

RFIDmachinetappingcard

TheuseoftapcardsensingonRFIDmachineisanewtypeofcreditcardusemethod,anditisalsoakindofnetworkingmethod.Whentakingacard,theoperatorshouldfirstcheckthevalidityperiodofthecreditcardandthecardholder'slastnameandotherinformation.Then,accordingtothecardissuingbankandthetypeofcurrencythatneedstobepaid,selectthecorrespondingtappingmachine,enterthecorrespondingamount,andplacethecreditcardflatnomorethan10cmabovethesensor.AftertheRFIDmachinesensesthecreditcard,itwillemitasignalsound,andthencontinuetooperatetheprogram.Aftertheremotepaymentgatewayacceptstheinformation,theprinter(ifconnected)willprintareceiptforthecardpayment,butunlikethepreviousmethod,thecardholderdoesnotneedtosign.Itisfasterandmoreconvenientthanthepreviousmethod.Atthispoint,thecardsensingprogramontheRFIDmachineiscompleted.

Manualpressingoforders

ManualpressingofordersisusuallyusedwhenthereisnoPOSmachineortheInternetisnotavailable.Theorderpressingoperationmusthaveapressure-sensitivecopytype"directpurchaseorder"(atleasttwocopies)andatelephone.TheinspectionworkbeforepressingtheorderisthesameasthatofthePOSmachine.Then,theoperatorusesthecreditcardpressdevicetoprinttheraisedcardnumber,name,etc.onthecreditcard,andwritetheamount,dateandotherinformation,andthencalltheacquiringbank’sauthorizationlinetoreportthecardinformationtoapplyforauthorization,Andwritetheobtainedauthorizationcodeonthepurchaseform,andthensignthecardafterconfirmingthatitiscorrect.Aftercheckingthesignature,theoperatorgivesacopyofthecreditcardandthepurchaseordertothecardholder.Atthispoint,themanualorderpressingprocedureiscompleted.Authorizedcallsareusuallydialedinstantly.Insomeareaswithpoorcommunicationorgoodcreditethics,merchantsmaydelivergoodstocompletethetransactionaftersigningthecardbythecustomer.Theauthorizationwillbecompletedinthefuture,butthemerchantisatriskofencounteringcreditcardfraud(ifacustomerusesaninvalidcardtopay,theywillnotbeabletofinditimmediatelywithoutapplyingforanauthorizationcodeimmediately).

Internetpayment

Fromthecardholder’spointofview,onlinepaymentisconsideredtobethemostriskyamongtheseveralpaymentmethodsofcreditcards,becauseInnocentpeoplemayusephishing,eavesdroppingonnetworkinformation,fakepaymentgatewaysandothermeanstostealuserinformation.Whenpayingonline,youneedtoenterthecardnumber,thevalidityperiodofthecreditcard,thenumberofVisaCVV2/MastercardCVC2/UnionPayCVN2nexttothesignaturecolumnonthebackofthecard.Aftertheinputiscomplete,clickSubmittocompletetheonlinepayment.WiththedevelopmentoftheInternet,thesecurityofonlinepaymentandcreditcardpaymenthasgraduallyimproved,whichhasalsobroughtaboutthetrendofonlineconsumption.

TVandtelephonetransactions

Similartoonlinepayment,itrequirescardnumber,expirationdate,VisaCVV2code/MastercardCVC2/UnionPayCVN2andotherinformation.

Pre-authorization

Pre-authorizationisgenerallyusedtopayadeposit,thatis,tofreezeapartoftheavailablecreditcardcreditasadeposit.Theprocessofpre-authorizationissimilartothatofmanuallypressingtheorder,butthecontentofthecallistopre-authorizethecorrespondingamount,nottorequirepayment,andthereisnoneedtopresstheorder.Youonlyneedtoissueaproofofreceiptofthedeposit.Generally,thepre-authorizationwillbecancelledbythemerchantduringcheckout.Ifthemerchantforgetstocancel,youcancallthemerchanttorequestcancellation,andyoucannotcancelbycallingtheauthorizedagencyyourself.Or,waitforthebanktoautomaticallycancelthepre-authorization(generally7to30days).

Chaos

OntheeveningofNovember14,2014,theShanghaiBankingRegulatoryBureauannounced7bankcreditcardbusinessviolations(noAfterreviewingtheincomesituation,ahigh-limitcreditcardwasissued;thecardholder’sincomewasestimatedbythemethodofapplyingforacard,andthecreditcardwasissued).TheShanghaiBankingRegulatoryBureaufinedtheseseveninstitutionsatotalof2.4millionyuanforfailingtoreviewtheauthenticityoftheapplicant'sinformation,excessivecreditgranting,andineffectivecontroloverabnormaltransactions.

Actually,thebanksandcustomersinvolvedinthispunishmentarejustthetipoftheicebergof"excessivecredit"ofcreditcards.AreporterfromtheBeijingNewsinterviewedcreditcardsalespersons,cardagencies,andcardholderstoexplorethechaosbehindthecreditlimitofcreditcards.

Installmentpayment

• Creditcardinstallmentpaymentmeansthatwhenacardholderusesacreditcardtomakelargepurchases,theissuingbankpaysthecardholder’spaymenttothemerchantinonelumpsum.Purchasinggoods(orservices)consumptionfunds,andaccordingtothecardholder’sapplication,theconsumptionfundsaredeductedininstallmentsthroughthecardholder’screditcardaccount,andthecardholderisabusinessofrepayingaccordingtothemonthlycreditedamount.Inthepast,creditcardinstallmentsmainlyincludedbillinstallmentsandsingleconsumptioninstallments.Banksusuallychargecorrespondingfeesbasedonthenumberofinstallments.Whetheritisbillinstallmentorsingleconsumptioninstallment,thepremiseisthattheconsumptionbehaviorisgeneratedfirst,andthenthebanksetstheinstallmentrepaymentofthegeneratedcreditloan.

• ThevastmajorityofdomesticbanksinChinahavecreditcardinstallmentpaymentservices.InstalmentpaymentisgenerallydividedintoPOSinstallment,online,mail,etc.dependingontheoccasion."Mailorderinstallment"andbillinstallment.

• Mallinstallment,alsoknownasPOSinstallment,referstocardholdersgoingtoshoppingplaces,suchasinstallment"mall"Shopping.Atthecheckout,holdingacreditcardthatsupportsinstallmentinthemallindicatesthatyouneedtopayininstallments.ThenthecashierwillswipethecardonthespecialPOSmachineaccordingtothenumberofperiodsrequiredbythecardholder(suchas3,6,12,etc.,afewshoppingmallssupport24).Note:Thecardholder'sidentityverificationisrequiredwheninstallingthemall,soremembertobringyourIDcard.Shoppingmallsaregenerallyfreeofchargefor3installments.Thefeeratesforthe6thand12thperiodsaredifferentforeachbank.Aslongasthegoodsthatarepaidininstallmentsarenormallysoldinthemall,installmentscangenerallybemade.Inmanycases,cardholderscanalsobundlemultipleproductstogetherforcheckout,andtheninstallthemininstallments.

• Mailorderinstallmentmeansthatthecardholderreceivestheinstallmentmailordercatalogmanualfromtheissuingbank(orthebank’sonlineinstallmentmall),fromthelimitedChooseamongtheproducts.Then,youcanorderbyinstallmentthroughtheonlineinstallmentmall,callorfaxthemailorderinstallmentapplicationformtothebank.Mailorderinstallmentsgenerallydonotchargeahandlingfeeregardlessofthenumberofinstallments.However,duetothelongorderperiod(inmanycasesitwilltakemorethan15workingdaystogetthegoods)andthereturnandexchangeisrelativelycumbersome,itisrecommendedtocomparebeforebuying.

• BillinstallmentThisisthemostconvenientinstallmentmethod.Allcardissuingbankscanbasicallysupportthisinstallmentmethod,anditiseasytoapply.Theuseronlyneedstosubmitaninstallmentapplicationtothecardissuingbankbytelephoneorothermethodsafterspendingwiththecardandbeforethemonthlybillisdispatched.However,itshouldbenotedthateachbankwillstipulatesomespecialcases,suchasspeculativecreditcardscannotbesuccessfullyinstalled.Sobeforeproceedingwithstaging,besuretoreadthestagingmanualcarefully.Theshortcomingofthebillinstallmentisthatthehandlingfeecannotbewaived.Thelongerthenumberofinstalments,thehigherthehandlingfee,andallofthemmustbebornebythecardholder.

Repaymentmethod

• • IntheissuingbankThemethodsinclude:cardissuingbankcounter,ATM,onlinebanking,automatictransfer,telephonebankrepayment,etc.Aftertherepayment,thecreditcardlimitwillberestoredimmediately,andthepaymentwillgenerallybecreditedtotheaccountafterthesystemisprocessedonthesameday.

  • WeiyintongPOSmobilephoneWeiyintongPOSmobilephoneisapersonalpaymentterminalofthemobilefinancialsystem.Cantransfermoneyandotherservices.Immediatelyarrived!

  • Transfer/remittancerepaymentismainlydividedintotwomethods:inter-bankinthesamecityandinter-bankindifferentplaces.Regardlessofthemethodoftransferorremittance,theremittingbankwillchargeacertainfee.Atthesametime,thetimeandconvenienceofrepaymentarenotasgoodasin-linerepayment,onlinerepayment,andconveniencestorerepayment.

  • OnlinerepaymentThemorecommononlineplatformsinChinaare:UnionPayOnline,Kuaiqian,Shengpay,Alipay,Tenpay,etc.Choosedifferentplatformsandbanks,thechargingstandardsandthespecificpaymenttimearedifferent.

  • ConveniencestorerepaymentThismethodismainlytocompletetherepaymentthroughthe"LaKala"smartpaymentterminalinstalledintheconveniencestore,generallytoIttakes2~3workingdaysfortheaccounttobesettled.Atthesametime,repaymentusingthismethodisfreeofhandlingfees.

  • Over-the-counterrepaymentConductRMBcurrentdepositandwithdrawaltransactionsatthecounterofbankoutlets.

  • XinpayRepaymentThe"Xinpay"smartcardphoneisindependentlydevelopedbyChinaUnionPay,certifiedbytheBankCardTestingCenter,andisapprovedbyChinaTheUnionPayinter-bankinformationexchangenetworkprovidesinnovativeelectronicproductssupportedbyfinancialservices.

  • RepaymentPassUsethe"RepaymentPass"forrepayment,andthechargesaregenerallybasedonthesamecityinter-banktransferandinter-cityinter-banktransfersetbythelocalPeople’sBank.Feesarecharged.

  • OthermethodsInadditiontotheseveralmethodsmentionedabove,thecardissuancebehaviorisconvenientforcardholderstorepaytheloan,andtheirownspecialrefundsarealsoopened.Mode.

Majorcompanies

Therearefivemajorinternationalcreditcardbrands,VISAInternationalandMasterCardInternationalInternational)andfiveprofessionalcreditcardcompaniesincludingAmericaExpress,DinersClub,andJCBJapanInternationalCreditCardCompany(JCB).Therearealsosomeregionalcreditcardorganizationsinvariousregions,suchasEUROPAYinEurope,UnionPayinChina,UnitedCreditCardCenterinTaiwan,andsoon.

ChinaUnionPay

ChinaUnionPayisajoint-stockfinancialserviceinstitutionestablishedbymorethan80domesticfinancialinstitutionsapprovedbythePeople’sBankofChina.Thecapitalis1.65billionyuan.ThecompanywasestablishedonMarch26,2002andisheadquarteredinShanghai.

Repaymentarrearsissue

InHongKong,creditcardholdersusuallyreceiveamonthlystatementeverymonth.Ifthecreditcardholderhasusedthecreditcardforpurchasesinthatmonth,Youneedtopaytheminimumrepaymentamountonthemonthlystatementbeforethefinalpaymentdeadlineonthemonthlystatement,otherwisethecardissuingcompanyhastherighttochargeadditionalinterestandadministrativefees,orhireadebtcollection(debtcollection)company/creditcenterGotocollectthenumbers.

InmainlandChina,therearecorrespondingconsultingcompaniesforcreditcardrepayment,whichcanprovidecardholderswithcertainrepaymentstrategies,sothatcardholderscanusetheircreditcardsformoreconsideratefinancialservices.

Visacard(VISA)

Visaisoneofthemostfamouspaymentbrandsintheworld.Memberfinancialinstitutionsworktogethertomakethisdreamcometrue.

Visa'sglobalelectronicpaymentnetwork-VisaNet-istheworld'smostextensive,functionalandadvancedconsumerpaymentprocessingsystem,andcontinuestofulfillitspromisetomakeyourVisacardglobal.Morethan20millionspecialmerchantsworldwideacceptVisacards,andtherearemorethan840,000ATMsallovertheworld.Therefore,Visa'sglobalnetworkallowsyoutoconvenientlyuseVisacardsnomatterwhereyouare.

VisaInternationaldoesnotissuecardsdirectly.IntheAsia-Pacificregion,VisaInternationalhasmorethan700memberfinancialinstitutionsthatissuevariousVisapaymenttools,includingcreditcards,debitcards,companycards,businesscardsandpurchasecards.Theseproductscanmakeyoufeelsafe,convenientandreliableduringconsumption.

VisaestablishedrepresentativeofficesinBeijingandShanghaiin1993and1996respectively.Visahas17ChinesememberfinancialinstitutionsincludingUnionPayand5foreignmemberbanksinChina.AsoftheendofMarch2005,Visahasissuedapproximately5.4millionVisacardsand17,000ATMsinMainlandChina.VisatransactionsinMainlandChinaamountedtoUS$3.2billion.

MasterCard

Inthelate1950sandearly1960s,MasterCardInternationalestablishedaninternationallyacceptedcreditcardsystem.Popularintheworld.In1966,abankcardassociation(InterbankCandAssociation)wasformed.In1969,thebankcardassociationpurchasedthepatentrightofMasterCharge,whichunifiedthenameandstyledesignofthecreditcardsoftheissuingbanks.Inthefollowingtenyears,theoriginalnameofMasterChargewaschangedtoMasterCard.MasterCardInternationalisanon-profitassociationthatincludesfinancialinstitutionsaroundtheworld.Itsmembersincludecommercialbanks,savingsandloanassociations,andcreditcooperatives.Itsbasicgoalremainsunswerving:tocommunicatebankcardinformationexchangesbetweendomesticandforeignmembers,andtofacilitateissuers,regardlessoftheirsize,toenterthebankcardandtraveler’scheckmarketandseekdevelopment.

VISAandMASTERCARDarethetwolargestcreditcardorganizationsintheworld.Thereisnosuchthingasgoodorbad.Itdependsonyourpersonalpreference.Generally,visaisusedmoreintheUnitedStates,andmasterismoreusedinEurope.

AmericanExpressCard

SincethefirstAmericanExpresscardwasissuedin1958,ithasbeenissuedin49currenciesin68countriesandregionssofarWiththeAmexCard,ithasbuilttheworld’slargestself-containednetworkofspecialmerchants,andhasagroupofmorethan60millionhigh-qualitycardholders.Establishedin1850,AmericanExpresswasinitiallyengagedintheprovisionofexpressdeliveryservices.Withthecontinuousdevelopmentofbusiness,AmericanExpresstooktheleadinlaunchingtraveler'schecksin1891,mainlyforhigh-endcustomerswhotravelfrequently.ItcanbesaidthatAmericanExpresshasservedhigh-endcustomersforacentury,andhasaccumulatedrichserviceexperienceandalargegroupofhigh-qualitycustomers.

DinersCreditCard

Inthespringof1950,McNamaraandhispartnerSchneiderinvestedinpartnershipandestablishedthefirstcompanyinNewYork.Acreditcardcompany,"DinersClubInternational",waslaterreorganizedasaDinersCreditCardcompany.DinersClubimplementsamembershipsystemandprovidesmemberswithacardthatcanprovetheiridentityandabilitytopay.Initially,theysignedacceptanceagreementswith14restaurantsinNewYorkCityandissued"DinersClub"toacertaingroupofpeople.Withthecard,themembercancarryoutbill-keepingconsumptionintherestaurant,andthentheDinersClubwillactasthepaymentintermediary,delayingthesettlementofaccountsbetweenthetwoparties.Theembryonicformofthecreditcardwasborn.

JCBCreditCard

JCBandDinersClubarethefirsttwocardbrandsissuedinthehistoryofthecreditcardindustryinJapan.Atthattime,theAmericanDinersClubCreditCardCompanyestablishedtheJapaneseDinersClubCreditCardCompanyinJapanin1960,mainlyissuingDinersClubcardstolocalhigh-endcustomers,andthenumberofcardsissuedwasminimal.AfterJCBwasestablished,itdecidedtochooseadifferentpathfromthehigh-endusercardissuedbyDinersClub,positioningthecardasthepopularJCBcard.

Settlementoffunds

1. SubmitthetransactionslipThebillorcashwithdrawalformisactuallytheacquiringbank,whichwillsettlethesettlementwiththeacquiringbanktorecovertheadvancedfunds.

2. RequestforpaymentTheacquiringbankdeductsacertainhandlingfeewhenmakingpaymenttothedesignatedmerchant,andsubmitsapaymentrequesttotheissuingbankwiththeacquiringbank.Thisprocessisachievedbysendingtherequestfiletotheissuingbank.

3. PaymentIftheissuingbankhasnoobjectiontothetransaction,itwillpaytheacquiringbankandsharethebusinessprocedureswiththeacquiringbankthroughwithholdingfee.Otherwise,itwillenterthestageofrefusaltopayorre-request,andevensubmitittoahigherlevelorganizationforadjudication.

4. PaymentbythecardholderTheissuingbanksendsastatementtothecardholderattheendofeachmonthorontheagreeddate,thatis,apaymentnotice,thecardholderIfthereisnodoubtaboutthetransactiononthestatement,paythecorrespondingamounttothecardissuingbank.

Usageissues

Securityissues

Becausecreditcardsareconvenientandfasttouse,coupledwiththerapiddevelopmentoftechnology,creditcardsareThemechanismofspendingfirstandpayinglaterisfacingincreasinglyserioussecurityissues.Majorinternationalcreditcardgroupsandglobalcardissuingfinancialinstitutionsarefacingseverechallenges.Thesecurityissuesofcreditcardsaremainlydividedintothefollowingfiveaspects:

Creditcards:criminalsorcriminalgroupsusefakecardsorusedcards(expired/lostandinvalid/damagedtapes...etc.)toimpersonatetheoriginalcardforconsumption,Directlydeceivemerchantsorcardissuers.

Cardholders:Cardsareimproperlykept/improperlyhandled(expired/invalidatedcreditcardsarenotdestroyed,orlostandnotimmediatelyinvalidated,etc.),andpersonallyidentifiableinformationhasbeenstolenordeceivedunintentionally.Inordertoavoidsuchproblems,citizensshouldnoteasilyprovidepersonallyidentifiableinformationtotheoutsideworld,anditisbestnottoentrustotherstohandlecreditcardsontheirbehalf.

Consumermerchants:Servicepersonneloverswipethecardholder'sconsumptionprocess,orstealtheircreditcardinformationtoothermerchantsforconsumption.Thissituationmayhappenregardlessofwhetheritisaphysicalbusinessoranonlinevirtualbusiness.

Cardissuer:Thecomputersystemwasmaliciouslyhackedtostealbasiccustomer/transactioninformation.Therearealsounscrupulouscircumstancessuchasself-stealingorinternalsupernaturalpowersandexternalghostsbyemployeesintheorganization.

Tradingsystemandmechanism:Aslongasitismadeorhandledbyhumans,humanerrorandnegligenceareunavoidable;nomatterhowrigorousthetransactionmechanism,andtheworld-classtransactionsystemfromconfirmationtosettlement,therearestillThepossibilityofinvasion,andtheso-called"invasion"actuallyhasahierarchicaldifference.

Baddebtproblem

ThestaffofTianjinShundaInvestmentManagementCo.,Ltd.revealedthataslongastheyprovideIDcards,realestatecertificatesandworkcertificates,theycanhandlethemintheformof"recommendationbythepresident"Thereareseverallargecreditcardswithatotalamountof500,000yuan.Banksthatcanbe"finished"includeChinaEverbrightBank,MinshengBank,andIndustrialBank.

Thecentralbank’sstatisticsshowthatasoftheendof2013,mycountry’stotalcreditcardbaddebtstotaled25.192billionyuan,anincreaseof10.534billionyuanovertheendofthepreviousyear,anincreaseof71.86%.

LiYongzhuang,directoroftheMinshengEconomicResearchCenterofCentralUniversityofFinanceandEconomics,analyzedthatinadditiontothelaxissuanceofcommercialbanks,creditcardcash-outcriminalactivitieshavebecomeanimportantreasonforthesharpincreaseinbaddebts.Expertsbelievethatmycountry'screditsystemisnotperfect,thereviewofbankcredit,POSmachineissuanceandotherlinksisnotstrict,andtheprotectionofcitizens'personalinformationisnotstrongenough,whichhasledtotheintensificationofcreditcardcashingcrimes.

Misuses

1.Q:Creditcardcanborrowmoney,myincomeisverylow,soapplyingforacreditcardhelpsmealot.

A:Wrong,thetargetcustomersofbankcreditcardsarehigh-endincomegroups.Fromtheabovecharacteristics,wecanalsoseethatthecharacteristicsofcreditcardsaremoreconvenientthansavingmoney.Usingacreditcardnotonlyhastopaytheannualfee,oncetherepaymenttimeismissed,thepenaltyinterestisveryhigh.

2.Q:Thecreditcardhasaminimumrepaymentamount,sowhenIborrowalotofmoneyandIcan’tpayitback,Ijustneedtopaytheminimumamount.

A:Wrong,theminimumamountisonlythebottomlineforthebanknottosueyou,butyouneedtopayinterest.Creditcardinterestiscalculatedonadailybasis,anditisarollover,whichishigherthanordinaryloaninterest.

Todistinguishclearlythedifferencebetweeninstallmentpaymentandmonthlyminimumrepayment.Theannualinterestoninstallmentpaymentsorcommercialloansisabout5%,andspecialcommoditieswillbeevenlower.Andonlytheminimumamount,equivalenttoanannualinterestofmorethan18%.

3.Q:Creditcardcanbeusedforcashoverdraft,soIcanwithdrawsomecashforuseinemergencies,whichisveryconvenientforme.

A:Correct.However,theinterestforcashwithdrawaliscalculatedonadailybasis,andthereisnointerest-freeperiod.Theinterestiscalculatedfromthedaythecashiswithdrawn.Theinterestisalsocalculatedonadailybasis,whichisashighasthepenaltyinterestformissedrepaymentdates.However,itisrecommendedtodepositasmallamountofassetsinthecreditcardincaseofemergency,becausethefundsinthecreditcarddonothavecurrentinterest.Whatismorefatalisthatmanybankcreditcards,evenifyouhavecashinthecard,youstillhavetochargeafeeforcashwithdrawal.Ahandlingfee.Soitisbettertobringabanksavingscardwithyouandleaveasmallamountofcashinit.Thereareveryfewplacestospendlargesumsofcash.Usually,creditcardscanbeusedforconsumption,andthereisaninterest-freeperiodforcreditcards.

4.Q:Idon’trememberhowmuchmoneyIborrowedthismonth.Iwillgenerallypaybackafigure.Evenifit’snotenough,therewillbeverylittledifference,andtheinterestwillnotbemuch.

A:False,ifyoudonotrepaythefullamountinthefinalrepaymentperiod,andifitisnotwithintherepaymenttolerance,thebankwillalsohavetorecoveralltheinterestinthe"interest-freeperiod".Forexample,the5thofeachmonthisthelastrepaymentdate.Youborrowed10,000yuanonthe6thofthepreviousmonth,andyouonlyrepaid9,990yuanonthelastrepaymentday.Then,onthenextlastrepaymentday,youhavetopay10,000yuan.Amonth’sinterestofyuan—about150yuan,andtheowed10yuanandamonth’ssubsequentinterest—about1.5cents.

5.Q:Iuseacreditcardtoborrowmoneytorepay,andborrownewdebtstorepayolddebts,soIcanneverpayback.

A:Wrong,firstofall,creditcardscannotbeusedforinterest-freecashwithdrawal,soyouhavetofindaplacewhereyoucanuseyourcardtospendmoneytocooperatewithyou.Thisisverydifficult.Secondly,althoughyouborrowmoneyeverymonth,onlythefirstmonth’smoneyisactuallyusable.Thatis,themaximumamountthebankgivesyou.Third,youalwayshavetopaybackthemoneyintheend.Doingsoisactuallysavingtheinterestonthemoneyyouborrowedforthefirstmonth.Andthisinterestwasnotmuchoriginally.Youarebusywiththiseverymonth,notnecessarilyworthit.Andonceyouforgettheoperationinacertainmonth,orthepenaltyinterestcausedbytheoperationfailure,itfarexceedstheinterestyousaved.

Precautions

AftertheSpringFestivalcreditcardisused,somenewchargeitemsthatwererarelyseeninthepastappearedonthecardholder'sbill,suchasover-limitcharges.

Theso-calledoverdraftfeereferstotheadditionaloverdraftgrantedbythebankafterthecardholderreachesthetotalcreditcardoverdraft,generally10%oftheoriginaloverdraft.Theadvantageofthisisthatthecardholderdoesnotneedtotemporarilyapplyforanincreaseinthelimitorcannotusethecard;thedisadvantageisthatthecardholderhastopayanoverdraftfeeof5%overtheamountoftheoverdraftlimit.

Inordertoavoidbeingchargedbythebankforover-limitfees,somecardholdersturnedtothebanktoapplyforatemporaryincreaseintheoverdraftlimit.Theincreasewasusually10%-20%,andtheperiodwasusually1month.Intime,thecreditcardwasrestoredtoitsoriginallimit.Therefore,cardholdersmustrememberthetimelimitofthetemporaryquotatoavoidoverduecreditcardrepayment.Inaddition,youshouldalsopayattentiontotheover-limitproblemoftemporarilyincreasingthelimit:ifyouusetheexcessoverdraftinthesecondhalfofamonth,itislikelythattheexcesspartwillincuranover-limitfee.Forexample,A'screditcardoverdraftis50,000yuan.OnDecember20,heappliedtothebanktoincreasethetemporarylimitby30,000yuan,buthedidnotusethe30,000yuanuntilJanuary15.ByJanuary20,A’screditcardoverdraftwasautomaticallyreducedto50,000yuan,butinfact,A’soverdraftwas80,000yuaninJanuary,andthe30,000yuaninbetweenwillincura5%overdraftfee.Therefore,cardholdersshouldpayback30,000yuanbeforethecreditcardoverdraftlimitisautomaticallyreducedtotheoriginal50,000yuanlimit,andcontroltheunpaidpartwithintheoverdraftlimitof50,000yuan,soastoavoidoverpayment.Limitfees.

Thebank’sfinancialplanneralsoremindedthatinviewofthelargeamountofcreditcardconsumptionduringtheSpringFestival,cardholdersshouldpayspecialattentiontothelastrepaymentdateofthecreditcard,whichisthelastdayoftheinterest-freerepaymentperiod.Thepreviousrepaymentsareallinterest-free.Ifthepaymentisoverdue,allconsumptionmoneywillnolongerenjoytheinterest-freerepaymenttreatment.Thebankwillcalculatetheinterestonadailybasisbasedontheconsumptionamountonthebasisoftheconsumptionamount,andthedailyinterestratewillbecalculatedonamonthlybasis.Thecompoundinterestwillberecoveredandalatefeewillbechargedatthesametime.

Creditcardlatefeereferstothecasethatthecardholder’sactualrepaymentamountislowerthantheminimumrepaymentamountontheduedateofthecreditcard,andtheunpaidportionoftheminimumrepaymentamountwillbesubjecttoalatepaymentfee,whichisgenerallythelowest5%oftheunpaidpartoftherepaymentamount,butduetothedifferentpoliciesofeachbank,theminimumamountsetvaries.Therefore,cardholderswhohavealargeoverdraftduringtheSpringFestivalholiday,afterreceivingthebill,mustkeepinmindthelastrepaymentdate,andstrivetorepayallthepreviousexpensesbeforetheduerepaymentdate.Ifitisstillnotavailable,applyforinstalmentrepaymentasearlyaspossibleorusethelowestrepaymentmethodtoavoidbeingpunishedbythebank.

Peoplewithoutfinancialincome,suchasstudents,shouldnoteasilyapplyforcreditcards.Eveniftheydonotuseacreditcard,theyhavetobearannualfeesandotheritems.Holdersofcreditcardsgiveupusingcreditcardsandgothroughthecardrefundproceduresinatimelymanner.Otherwise,variouscreditcardfeesandsubsequentinterestandlatefeeswillresultinpersonaleconomiclossesandreducedcredit,whichwillaffectmortgagesandcarloans.

Consequencesofoverdue

1.Liquidateddamagesoccur,generallytheminimumrepaymentamount,5%oftheoutstandingpart.

2.Thehighinterestrate,anditisprofitable,theinterestisveryscaryinthecaseofalotofdebts.

3.Overduewillcausestainsoncreditrecords,whichwillresultinthefailuretohandlefinancialneedssuchashousepurchasesandloansinthenexttwoyears.

4.Thepaymenthasnotbeenrepaidformorethan3months,andtheamountexceeds10,000,andthebankhasfailedtodunningthefundsformanytimes.Atthattime,itwillnotonlybenecessarytopaybackthemoney,butalsocriminalresponsibility.

Cancellationstatus

Creditcardcancellationisnecessaryifyoudonotintendtocontinueusingyourcreditcard.Ifyoudonotcancelyouraccount,thebankwillchargetheannualcreditcardfeeannually.

Ifthecardisnotoverdrawn,youcanapplyforcancellationatanytime.

Ifthecardhasnotexpired,youneedtoapplyfirst,andthengotothebanktocanceltheaccountafteracertainday;ifthecardhasexpiredandtheaccountbalanceiszero,youcandirectlygotothedesignatedbankbranchtocanceltheaccount.Householdprocedures.Whencancelingtheaccount,youshouldbringyouroriginalvalidIDcardandcard.Ifyouareinconvenienttogothroughtheaccountcancellationprocedures,youcandoitonyourbehalf.Theagentneedstoholdthepowerofattorneywrittenbytheclient(theperson)andbringtheoriginalvalidIDcardtohandletheaccountcancellationbusiness.

Ifyourcardisnotexpiredwhenyoucancelyourcreditcardaccount,somebanksrequireyoutogotoadesignatedbranchtohandlethecardcollectionservice.Afteracertainperiodoftime(upto30days),youcangothroughtheformalaccountcancellationprocedure..Thisismainlybecauseifthecardholderhasdoneamanualcardpressingtransactionbeforecancelingtheaccount,andthemerchanthasnotsubmittedthecardpressingsliptothebankwhentheaccountiscanceled,thecardholderhasalreadycanceledtheaccount,sothebankcannotperformnormalliquidation.;Ontheotherhand,ifthecardholderspendsorwithdrawscashoverseas,itmaynotbecleareduntilafewdayslater.Iftheaccountiscancelledimmediately,thebank’snormalclearingwillalsobeaffected.

ProductDisadvantages

• • Creditcardscaneasilyleadtoexcessiveconsumption.Thisisacommonproblemforpeoplewhoarecaughtincarddebt.Thereisnopaininswipingthecard,sothereisnorestraintintheconsumptionofthecard.

  • Theannualinterestrateofacreditcardisashighas18%,whichisindeedausury,whichcanmakeborrowerslosebloodquickly.

  • Creditcarddebtbringsmentalstress.SomeKanureportedthattheywereoftenafraidofopeningmailboxesoremails.

  • Ifyouhavebadcredit,thecostofborrowingmoneyishigher,andyoumaynotevenbeabletoborrowmoney.

  • Creditcardsprovideachoicetoraisedebtswithdebtsandquenchthirstwithdrinkingpoison,whichleadstooutofcontrolofdebts.

• Inaddition,many"benefits"areactuallyhiddentraps.

• Theshort-termpreferentialinterestratewillultimatelyoutweighthegain.Acertainpercentageofpeoplewillturnemergencyfinancingintolong-termdebt.Therefore,don'tbetemptedbyshort-termlowinterestratesandmakeunnecessaryborrowings.

• Toomanypersonalcreditlinesarenotonlyevidenceofgoodcredit(therepaymentrecordis),butintheeyesoffinanciersitisarisk,whichmaypushupborrowinginterestratesinstead..

• Giftsoftherewardprogramoftenaccumulatedustinthegarage.Insteadofspendingtogetthegifts,itismoreaffordabletosavemoneydirectly.

Banking

PingAnBank

Annualfeewaiverpolicy:generalTheannualfeeiswaivedfor6timesbycardswiping.

Revolvingcreditrate:dailyinterestrateoffivetenthousandths,compoundinterestcalculatedonamonthlybasis

Over-limitfee:5%ofover-limitpartChargeover-limitfee,nominimumandmaximumlimit,noover-limitfee

Latefee:5%oftheunpaidpartoftheminimumrepaymentamount,theminimumchargeisRMB20orUSD3

Lossreportingfee:RMB60yuan/card,ICcard75yuan

Cashpre-borrowingfee:2.5%domestic,minimumRMB25/transaction;3%overseas,minimumUS$3Yuan/transaction

Handlingfeefordamagedcardreplacement:RMB15/piece

ConsumptionSMSreminderfee:RMB36/year(combinedcalculationofthemainandattachedcards)

Handlingfeeformakingupapaperstatement:Askforastatementwithinoneyear,freeforthefirsttime,andthenchargeRMB10permontheverytimethereafter

Cardexpressfee:RMB20perenvelope

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Handlingfeeforreclaimingoverpaidcardpayments:5‰ofthereclaimedamount,withaminimumofRMB5pertransactionorUSD1pertransaction,andamaximumofRMB50pertransactionorUSD7pertransaction.

Handlingfeeforreissuinganemergencyreplacementcardoverseas:MasterCard:USD155/card

Retrievingacopyofthetransactionfeeofthepurchaseorder:RMB20/transaction;OverseasUSD3/transaction

Thebankcollectsforeignexchangehandlingfee:1.5%ofthetransactionamount

PostalSavings

Theapprovalisstricter,anditisbiasedtowardsthepostalsavingsBankshavenoattributionfordeposits,wealthmanagement,andcreditcardaccounts,andtherearenoextralocalfeesforcashwithdrawalsandrepaymentsat37,000outletsacrossthecountry.

IndustrialandCommercialBankofChina

Annualfeewaiverpolicy:Five-timewaiverofannualfeeforPukaGoldCard.

CashwithdrawalproceduresFee:Chargedat1%oftheamount,withaminimumof1RMBor1HongKongdollaror1U.S.dollar.

Upto50RMBor50HongKongdollars,10USdollars(includingdomesticandoverseas)(thisisthehandlingfeeforwithdrawalfromotherplaces.Thelocalbankcashwithdrawalisfree)Themaximuminterest-freeperiod:56days

Multi-accountmanagement:independentrepaymentofindependentdailybillinglimit

Internetpayment:

Youmustfirstgotothebankcountertoopenit.U-Shieldcustomers'singleandsingle-daylimitsarethemaximumcreditcardlimits;

Thetotalcumulativelimitforcustomerswhoregisterstaticpasswordsatthecounteris300yuanorthecreditcardlimit,whicheverislower;

e-bankingThesinglelimitforpasswordcardcustomersis1,000yuanandthelimitofthecreditcarditself,whichislower,andthesingledaylimitis5,000yuanandthelimitofthecreditcarditself.Issue12).

Youcanapplyforfreeinstallment(3,6,9,12,18,24)afterspendingmorethanRMB600,HK$600,US$100,andEuro100.

Eachperiodwillgeneratedifferenthandlingfeesaccordingtothenumberofinstallments.

Billday:Firstlaunchthemulti-billdayservice.Thereare19billdaystochoosefrom,whichcanbemodifiedonceayear.

Cardtypes:generalcard(withaquotaof0-20thousandyuan),goldcard(withaquotaof10,000-50,000yuan),platinumcard(amountabove50,000yuan)

coinsSpecies:RMB,RMB/USD,RMB/Euro,RMB/HKD

Specialreminder:Thecardhasanattributionandcannotbechanged.Youcanonlyreapplywiththecard

ChinaConstructionBank

Annualfeewaiverpolicy:TheannualfeeforthenextyeariswaivedforthreeswipesofthePukaGoldCard(excludingspecialcardtypessuchascommercialcardsandcarcards)

Cashwithdrawalfee:Domestic:5‰ofthetransactionamount,minimum2yuan,maximum50yuan;Overseas:3%ofthetransactionamount,minimum3USdollars

Maximuminterest-freeperiod:50days

Multi-accountmanagement:quotasharinganddailyindependentrepaymentofbills.

Onlinepayment:Alipay,Shengpay:Itcanbeusedafteronlineregistration,singletransactionandsingledaylimitareboth500yuan

Instalmentbusiness:Supportspecificmerchants'interest-freeinstalment(3,6,12).

Afterasinglepurchaseofmorethan1,000yuan,youcanapplyforinstallments(3,6,12installments)byphone.

Eachinstallmentwillgeneratedifferenthandlingfeesaccordingtothenumberofinstallments.

Billingdate:July,10,12,15,17,22,25,and27ofeachmontharethebillingdays.Cardholderscanchangethecardtypeonceduringthevalidityperiodofthecard.

Cardtype:Standardcard(limitof20,000to20,000yuan),goldcard(limitof10,000to50,000yuan)

Currency:RMB,RMB/U.S.dollar

BankofChina

Annualfeewaiverpolicy:Theannualfeeforthenextyeariswaivedfor5swipesofthePukaGoldCard.

Cashwithdrawalfee:1%ofthetransactionamountofthedomesticbank,minimumRMB8forATMcashwithdrawal,minimum10yuanforcountercashwithdrawal,otherbanksonlyATMmachines,1%ofthetransactionamount,minimumRMB12.1%oftheoverseasUnionPaytransactionamount,withaminimumofRMB15yuan.

Maximuminterest-freeperiod:50days

Multi-accountmanagement:quotasharing(theBankofChinaseriesandtheGreatWallseriesareindependentofeachother).Thebillingdayisindependentandindependent.

Onlinepayment:opendebitcardonlinebankingatthecounter,applyforadynamicaccounttoken,linkthecreditcardtotheonlinebank,andthenusethecreditcardtopayonline.

Instalmentbusiness:Supportsinterest-freeinstalmentforspecificmerchants(3,6,12);doesnotsupportsinglearbitraryinstalmentandbillinstalment.

Billingdate:Themonthlybillingdateisgeneratedbythesystem,whichisfixedforeachcardholderandcannotbechanged.

Cardtypes:generalcard(withaquotaof2,000to30,000yuan),goldcard(withaquotaof10,000to50,000),andplatinumcard(withaquotaofmorethan50,000yuan).

Currency:RMB,RMB/USdollar,RMB/Japaneseyen,Britishpound,Euro,HongKongdollar.

AgriculturalBankofChina

Annualfeewaiverpolicy:5timestowaivetheannualfeeforthePukaGoldCard.

CashwithdrawalproceduresFees:

Domesticbankadvancecash,1%ofthetransactionamount,minimum1yuan;

Domesticotherbankadvancecash,1%ofthetransactionamount+2yuanpertransaction,Minimum3yuan;

Overseascashadvance,3%ofthetransactionamount,minimum3U.S.dollars(orequivalentforeigncurrency).

Maximuminterest-freeperiod:56days

Multi-accountmanagement:quotasharingandindependentrepaymentofbillday

Networkpayment:notcurrentlysupported(dualcurrencyCardscanbepaidwithforeigncardchannelsonsomewebsites)

Instalmentservice:freechoiceof3,6,9,12,24instalments,andtheinstalmentprocessingrateis0.6%.

Day:The10thofeachmonthisthebillingdayandcannotbechanged.

Cardtype:Standardcard(withalimitof20,000to20,000yuan),goldcard(withalimitof10,000to50,000yuan)

Currency:RMB,RMB/U.S.dollar

BankofCommunications

Annualfeewaiverpolicy:Theannualfeeiswaivedfor6timeswiththestandardcardgoldcard

Cashwithdrawalfee:

Fordomesticcashwithdrawal,1%ofthetransactionamountischarged,withaminimumofRMB10pertransaction;

ForoverseascashwithdrawalsthroughtheUnionPaynetwork,eachtransactionReceiveRMB12,plus1%ofthetransactionamount,withaminimumofRMB15pertransaction;

ForoverseascashwithdrawalsthroughtheVISA/MasterCardnetwork,1%ofthetransactionamountischarged,withaminimumofUS$5.

Maximuminterest-freeperiod:56days

Multi-accountmanagement:quotasharing,independentrepaymentofbillday,independent

Internetpayment:allneedtogotothebankcounterfirstOpen.Thesingleandsingle-daylimitofthemobileregistrationversionis5,000yuanandthelimitofthecreditcarditself,whichislower;thesingleandsingle-daylimitofthecertificateregistrationversionis10,000yuanandthelimitofthecreditcarditself,whichislower

Instalmentbusiness:500yuanormoreAfterconsumption,youcanapplyforfreeinstallment(6,9,12,18,24)byphone,andeachinstallmentwillgeneratedifferenthandlingfeesaccordingtothenumberofinstallments.

Billingdate:ThemonthlybillingdateisbasedonthesystemGenerated,itisfixedforeachcardholderandcannotbechanged

Cardtype:generalcard(amount0-5thousandyuan),goldcard(amount0-50thousandyuan),platinumCard(over50,000-50,000yuan)

Currency:RMB,RMB/USD

ChinaMerchantsBank

Year-freeFeepolicy:Theannualfeeiswaivedfor6timeswiththestandardcardgoldcard(VISA-MINIcard,platinumcard,NBAcreditcarddonotenjoythisannualfeewaivermethod,businesscreditcardneedstobeimplementedinaccordancewiththeagreement)

Handlingfee:

Domestic:1%ofthecashadvancetransactionamountinRenminbi(includingtelephoneadvancecash),andaminimumchargeofRMB10pertransaction

Overseas(includingHongKong,Macao,andTaiwan)):3%ofthecashadvancetransactionamount,theminimumchargeisRMB30yuan/transaction,USD3/transaction(receivedifyouchoosethecurrentone,regardlessofthesamecityordifferentplaces)

Interest:5/10thsperday

Maximuminterest-freeperiod:50days

Multi-accountmanagement:dailyaveragesharingofquotabillrepayment

Internetpayment:Alipay,Shengpay:singletransactionThelimitis499.99yuan,themaximumlimitofasingle-daycreditcard(otherwebsitesdependonthelimitofeachmerchant)

Instalmentbusiness:

(Outsidethecreditlimit),itsupportsinterest-freeinstalmentforspecificmerchants(3Period,period6,period12).Supportbillinstallment.Theminimumbillinstallmentamountis1,000yuananddoesnotexceed80%ofthecreditlimit.Youcanapplybyphonefromthenextdayofthebilltotwoworkingdaysbeforethelastrepaymentdate.TheapplicationforbillinstallmentmusthavebeenpaidinfullmorethanthreetimesOnlythencanapply

Billingdate:Theinitialbillingdateisrandomlygeneratedbythesystem,andthecardholdercanchangeiteverysixmonths,andcanonlybechangedtothe5th,10th,15th,20th,25thofeachmonth

Cardtypes:generalcard(amountof0-1million),goldcard(amountof10,000-50,000),platinumcard(amountofmorethan50,000yuan)

Currency:RMB,RMB/U.S.dollar

ChinaMinshengBank

Annualfeewaiverpolicy:Theannualfeeiswaivedfor8timeswiththePukaGoldCard(PacificCo-brandedCard)Thefirst-yearannualfeeiswaivedoncewithin3months)

Cashwithdrawalfee:RMB:Freeforourbank,1%ofcashadvancefromotherbanks,minimumRMB1,foreigncurrency:3%ofcashadvance,Minimum3U.S.dollars

Maximuminterest-freeperiod:51days

Multi-accountmanagement:dailyaveragesharingofquotabillrepayment

Internetpayment:non-contractedcustomerbillThelimitis1,000yuan,andthesingle-daylimitis5,000yuan;aftergoingtothebanktobecomeacontractedcustomer,thesingleandsingle-daylimitisthemaximumcreditcardlimit

Instalmentbusiness:Supportsinterest-freeinstalmentforspecificmerchants(3,6Period,12periods).Freeinstalmentonlysupportsfemaleflowercard

Billingdate:1,3,6,9,13,16,21,26,and28ofeachmontharethebillingdays,whichcanbechangedeverynaturalyear.

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Cardtypes:generalcards(aquotaof0-1million),goldcards(aquotaof10,000-50,000),platinumcards(aquotaof50,000-300,000),diamondcards(aquotaof300,000-300Tenthousand)

Currency:RMB,RMB/U.S.dollar

ChinaCITICBank

Annualfee-freepolicy:StandardcardgoldcardswipingFivetimestheannualfeeiswaived(thefirst-yearannualfeeiswaivedforoneswipewithinonemonthafterthecardisapproved)

Withdrawalfee:Withdrawalischargedat3%oftheamountofcashwithdrawn,withaminimumofRMB30/US$3/HK$30

Maximuminterest-freeperiod:50days

Multi-accountmanagement:quotasharing,billingday,independentrepayment,independent

Internetpayment:YouneedtoapplyforaCITICdebitcardandgotothebankcountertosignacontracttoopentheenhancedversionofonlinebanking(asinglelimitof500yuan,asingledaylimitofthemaximumcreditcardlimit)

Instalmentbusiness:supportforspecificmerchantinterest-freeinstalment(3installments),Issue6,Issue12).Anysingleinstallmentandbillinstallmentcanonlybeprocessedbyspeciallyinvitedcustomers.

Thebillamountreachesmorethan1,200yuan,afterthebilldatetothreeworkingdaysbeforetheduedate,youcanapplyforbillinstallmentbyphone.

Asingleamountofmorethan600yuancanbeusedtoapplyforasingleinstallmentbyphonetwodaysafterthecreditcardconsumptiontransaction(afterthetransactioniscredited)tothreeworkingdaysbeforethebillingdateofthecurrentperiod.

Billingdate:Themonthlybillingdateisgeneratedbythesystem,whichisfixedforeachcardholderandcannotbechanged.

Cardtype:standardcard(limit0-8,000yuan),goldcard(limitof8,000to50,000yuan),platinumcard(amountofmorethan20,000yuan)

Currency:RMB,RMB/USD,RMB/Euro,RMB/HKD

IndustrialBank

Annualfeewaiverpolicy:5timestowaivetheannualfeeforthegeneralcardgoldcard.

Cashwithdrawalfee:amount2%,minimumRMB20yuanpertransactionorUSD2yuanpertransaction(regardlessofsamecityordifferentplace)

Maximuminterest-freeperiod:50days

Multi-accountmanagement:quotasharingbilldayIndependentrepaymentandindependent

Onlinepayment:Electroniconlinebankingisrequired.

Instalmentbusiness:Supportsinterest-freeinstalmentforspecificmerchants(3,6,12).Singlearbitraryinstallmentandbillinstallmentarenotsupported

Billdate:Thebillingdayisthe2,4,8,11,13,15,18,21,and23ofeachmonth,andthecardholdercandoiteverysixmonthsChangeonce

Cardtype:generalcard(amountof0-1million),goldcard(amountof10,000-50,000),platinumcard(amountofmorethan50,000yuan)

Currency:RMB,RMB/U.S.dollar

ChinaEverbrightBank

Annualfeewaiverpolicy:Theannualfeeiswaivedfor3swipesofthestandardcardgoldcard

Cashwithdrawalfee:1%ofthetransactionamount,thedomesticminimumchargeis3yuan,andtheoverseasminimumchargeis3dollars

Maximuminterest-freeperiod:50days

Multi-accountmanagement:quotasharinganddailyindependentrepaymentofbills.

Onlinepayment:notcurrentlysupported(dualcurrencycardscanbepaidwithforeigncardchannelsonsomewebsites)

Instalmentbusiness:Afterasinglearbitrarypurchase,youcanapplyforfreeinstallment(12installments)byphone,andeachinstallmentwillincura0.5%handlingfee.

Billingday:The1stofeachmonthisthebillingdayandcannotbechanged

Cardtypes:generalcard(amountof0-1million),goldcard(amountof10,000-50,000),platinumcard(amountofmorethan50,000yuan)

Currency:RMB,RMB/U.S.dollar

ShenzhenDevelopmentBank

Annualfee-freepolicy:regulargoldcardswiping18timesorpointsexchangeforthefollowingannualannualfee(thisisSinglecurrencycardpolicy,retailcardisnotapplicable)

Cashwithdrawalfee:3%ofthecashwithdrawalamount,minimum3USDor30HongKongdollars

Maximuminterest-freeperiod:50Days

Multi-accountmanagement:independentlimit(thelimitofRMBcardandcentralcitycardisnotindependent)independentrepaymentofbillday

Internetpayment:temporarilynotsupported(dualcurrencycardcanbeusedinSomewebsitesuseforeigncardchannelstopay)

Instalmentbusiness:Supportspecificmerchants'interest-freeinstalment(3,6,12).Nosinglearbitraryinstallmentandbillinstallment(onlyforsinglecurrencycards,notapplicabletoretailcards)

Billingdate:the5th,20th,or25thofeachmonthisthebillingdayandcannotbechanged

Cardtype:generalcard(amountof0-1million),goldcard(amountof10,000-50,000)

Currency:RMB,RMB/USD

HuaXiaBank

Annualfeewaiverpolicy:5timestowaivetheannualfeeforthegeneralcardgoldcard.

Cashwithdrawalfee:basedonthetransactionamount1%charge,domesticminimumchargeis5yuan,overseasminimumchargeis15yuanor2USdollarsForhigh-valueconsumertransactionsonthebill(asingletransactionamountisnotlessthanRMB500orequivalentforeigncurrency),pleasecallthe24-hour400customerservicehotlineofHuaXiaBankCreditCardCenteratanytimetoapply,andyoucanenjoyupto6monthsofzerointerest,Zerohandlingfeeispaidininstallments.

TitaniumcardholderscanenjoyamaximumofRMB15,000,goldcardholderscanenjoyamaximumofRMB10,000,andordinarycardholderscanenjoyamaximumofRMB5,000.

Billingdate:Eachcardholder’sbillingdateisdifferent,andyourbillingdateforeachperiodwillbelistedinthestatement.Youcanadjustthebillingdateaccordingtoyourincomeandsalaryissuancedate,butyoucanonlychangeitonceayear.

Cardtype:standardcard(limit2,000-20,000yuan),goldcard(limit50-50,000yuan),TitaniumCard(Limit20,000-200,000)

Currency:RMB,RMB/USD

NounInterpretation

CreditLine

Thecreditlimitreferstothemaximumoverdraftlimitgiventoyourcreditcardbythebankwhenitapprovesyourcreditcard.Youcanonlyswipeyourcardforconsumptionwithinthislimit.Ifyouexceedthislimit,youcannotswipeyourcardnormally.Consumption.Thecreditlimitisdeterminedbasedontheinformationyoufilledoutwhenyouappliedforacreditcardandtherelevantsupportingdocumentsprovided.Themaincardandthesupplementarycardsharethesamelimit.Ingeneral,therenminbilimitandtheU.S.dollarlimitinthelimitofadualcurrencycreditcardcanbeconvertedtoeachother.Forexample,yourlimitis30,000RMB.Whenyouusethecardoverseas,yourcreditlimitisapproximatelyequivalentto5,000USdollars.

Thecreditlimitwillbeadjustedbythebankonaregularbasis,butyoucantaketheinitiativetoproviderelevantfinancialprooftorequesttheadjustmentofthecreditlimit.Inaddition,whenyouneedahigherlimitforacertainperiodoftime,suchastravelingabroadormovingtoanewhome,youcanrequestanincreaseinthetemporarycreditlimit.

Whatisthe"secondquota"

Thesecondquotaisthequotathatcanonlybeusedininstallments.Itisanon-occupiedAnexternalquotaofyouroriginalquota.AccordingtoMEIcard,thebanksthatsupporttheuseofthesecondquotaininstallmentsincludeChinaEverbrightBankandBankofChina.

TransactionDay

Thedatewhenthecardholderactuallyusesthecardtomakeatransaction.

Accountingdate

Alsoknownastheaccountingdate,itreferstothecard-issuingbankcreditingthetransactionpaymenttoitscreditcardaccountafterthecardholderusesthecardtomakeatransactionThedate,orthedateonwhichthecard-issuingbankcreditedtherelevantfeestoitscreditcardaccountinaccordancewiththerelevantagreement.Thegeneralbillingdateisthedayafterthecardholder’sactualconsumptiondate.Forexample,ifyoumakepurchasesonDecember1,thegeneralbillingdateisDecember2.

Billingdate

Billingdatereferstothemonthlysummaryofvarioustransactionsandexpensesincurredinthecardholder’screditcardaccountbytheissuingbankeverymonth,Andcalculatetheinterestandcalculatethedatewhenthecardholdershouldrepaythecurrentperiod.

RepaymentDate

Thedatewhenthecardholderactuallyrepaidthecreditcardaccounttothebank.

Interest-freerepaymentperiod

Fornon-cashtransactions,theperiodfromthebankbookkeepingdatetotheduedateofrepaymentisinterest-freeRepaymentperiod.Theshortestinterest-freerepaymentperiodis20daysandthelongest56days.Duringthisperiod,aslongasyoupayoffthecurrentbalanceonthecurrentstatementinfull,youdon’tneedtopayanynon-cashtransactionthatthebankadvancestothestore’sfunds(thecashadvancedoesnotenjoyinterest-freediscounts).

Repaymentduedate-thelastdateonwhichthecardholdershouldrepayallofitsdueorminimumrepaymentamountasstipulatedbytheissuingbank.

Forexample,themonthlybillingperiodofacertaincreditcardisfrom201*year*month28to(*+1)27th,forexample,fromAugust28,2012toSeptember27,2012.Ifthegoodsarepurchasedonanyday(September23)duringthisperiod,thetransactiondateisSeptember23,2012,thebillingdateofgeneralcreditcardsisalsoSeptember23,2012,andthebillingdateisSeptember2012.Onthe27th(differentfromeachbank),ifthepaymentismadeonSeptember25,thenSeptember25,2012istherepaymentdate,andtheduedateisOctober17,2012(assumingtheextendedpaymentperiodis20days),September27thplus20daysisOctober17th).

Togetthelongestrepaymentperiod(50days),youcanchoosetoshoponAugust29,2012.

Cardlesspaymentchannel

ChinaUnionPaycreditcardcanalsobepaidonlinewithoutopeningonlinebanking,mainlybasedonUnionPay’scardlesspaymentchannel.CreditcardholdersNoneedtouseonlinebankingforauthenticatedpayment,quickpaymentandordinarypayment.Cardholdersuseacreditcardforonlineshoppingwithoutopeningonlinebanking.Theyonlyneedtousethecardnumber,password,mobilephonenumberpre-storedintheissuingbank,dynamicpasswordandotherpersonalverifications.Information,youcaneasilymakeonlinepayments.

Onlinecreditcard

OnMarch11,2014,thetwoInternetgiantsTencentandAlibabaannouncedthattheywillofficiallyissueonlinecreditcardsnextweek,andthepartnersareChinaCITICBank.Itisreportedthatthefirstbatchofcreditcardsofthetwocompaniesis1million.Intermsofquota,Alipay’sonlinecreditcardstartsat200yuan,andTencent’sWeChatcreditcardquotaisdividedintothreelevels:50yuan,200yuan,and1,000to5,000yuan.Bothcreditcardswillbeissuednextweek.

AdministrativeRegulations

InApril2016,thePeople'sBankofChinaissuedthe"NoticeofthePeople'sBankofChinaonMattersConcerningCreditCardBusiness",whichcameintoeffectonJanuary1,2017.

The"Notice"requirestheimplementationofupperandlowerlimitsoncreditcardoverdraftinterestrates.Theupperlimitoftheoverdraftinterestrateisfivetenthousandthsofthedailyinterestrate,andthelowerlimitoftheoverdraftinterestrateis0.7timesthedailyinterestrateoffivetenthousandths.

Mainlybasedonthefollowingconsiderations:First,theimplementationofstep-by-stepandgradualreformswillhelpcardissuerstofurtheraccumulatepricingdataandexperienceduringthetransitionperiodandguidethemtoimprovethecreditcardinterestratepricingmechanism.

Secondly,creditcardriskcontrolcapabilitiesandpricingcapabilitiesofvariouscardissuersareuneven.Guidanceontheupperandlowerlimitsofinterestratesishelpfultoavoidindividualissuersfromblindlycuttingpricesandengaginginpricewars,leadingtounfaircompetitionandhigh-riskcustomersExcessiveborrowinghasincreasedcreditriskandcausedlocalchaosinthemarket.

三是在信息披露机制有待加强的情况下，设置透支利率上限有利于防止个别发卡机构不合理收取过高利息，保障持卡人合法权益。

2021年5月25日，最高人民法院发布实施了《最高人民法院关于审理银行卡民事纠纷案件若干问题的规定》，明确：人民法院支持持卡人基于借记卡、信用卡合同法律关系请求发卡行返还被盗刷扣划的存款或透支款本息、违约金并赔偿损失；同时不支持发卡行请求信用卡持卡人偿还透支款本息、违约金等。

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