What are the main functions of credit cards?

Main uses of credit cards:

1. Direct consumption function. This is the most basic function of a credit card. Cardholders can use cards instead of cash in special merchants marked with the Great Wall Credit Card of China Bank, including shops, hotels, restaurants, airports, hospitals and other places.

2. Savings deposit function. The bank will calculate the deposit and reserve fund of the credit card account at the prescribed interest rate and treat it as a savings deposit.

3. Transfer and settlement function. With the card, the cardholder can transfer payment from his own account in the business structure of China Bank.

4. ATM cash withdrawal function. Cardholders can withdraw cash at China Bank outlets and ATMs in the province.

5. overdraft function. The cardholder can overdraw the cash withdrawal and payment within the limit allowed by the issuing bank, and collect overdraft interest at the same time.

6. Collection and payment function. Cardholders can provide services such as paying wages, collecting telephone charges and accessing the Internet through Jitong for specific units that have signed contracts with banks.

cash withdrawal is an auxiliary use of credit cards. Cardholders can withdraw savings deposits from their credit card accounts or borrow cash in advance at the branch counter or ATM of the card issuing institution. In fact, in foreign countries, card issuers do not encourage cardholders to use credit cards to withdraw cash, especially credit cards.

Extended information:

Credit cards are generally special plastic cards with a length of 85.6 mm, a width of 53.98 mm and a thickness of 1 mm, with the card issuer's name, expiration date, number and cardholder's name printed on the front, and chips, magnetic strips and signature strips on the back. Cardholders can use their credit cards to shop, spend money and deposit and withdraw cash from banks.

credit card consumption is a non-cash transaction payment method, and it is not necessary to pay cash when spending, and the 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 with a certain credit limit within which the cardholder can spend first and then repay.

quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the specified credit limit. The credit card generally refers to a credit card.

Reference: Baidu Encyclopedia-Credit Card