Can American credit cards be used in China?

It depends on whether the American Express card you apply for has a single logo or a double logo. If your American Express card has only one logo, it is basically useless in China. If your American Express card has the dual logos of American Express and UnionPay, it can be used in China, and it can be used in a wide range, as long as there are UnionPay POS machines.

The US Census Bureau mentioned in the 2007 Credit Card Usage Report 1 that about 70.2% of Americans hold credit cards. In the past ten years, this number has only increased by 2. As an established capitalist power, the concept of advanced consumption is deeply rooted in people's hearts.

In America, credit cards are more of a way of life. If you don't have a good credit card, you can only spend a little money watching others travel around the world on their honeymoon or just spend 250 yuan to experience the distinguished rooms of the Ritz-Carlton Nanjing. In the next introductory popular science article, I want to talk to you about some basic concepts, terms and precautions in American credit card application, hoping to help friends who are going to study in the United States or plan to open the door to the new world of credit cards in the future.

Credit cards are in America.

The competition is fierce and the benefits are full.

The extremely high penetration rate and usage rate of credit cards in the United States depend on a sound financial system and a supporting credit system. In such a fully developed market, the competition between banks is extremely full and fierce. Only by showing their own slow sincerity (welfare) can they have their own place in the market. Ordinary credit cards will send hundreds or even thousands of dollars as soon as they are opened. Even poor students receive credit card opening invitations from different banks from time to time (not to mention middle-class and rich people with annual incomes of hundreds of thousands or even millions), which also reflects the fierce competition. Under such competition, it is our cardholders who benefit.

First of all, talk about the annual fee. In the United States, many banks' resident cards are free of annual fees, that is to say, the cost of holding cards is close to zero, and there is no pressure to avoid annual fees if you brush enough X pens /X yuan. Those credit cards with annual fees (such as Chase Sapphire Reserve mentioned below) can deduct 70% to 80% of the annual fees due to their huge benefits and high cashback, and the equivalent annual fees are very low or even almost zero.

The second is cashback. Most credit cards have a corresponding cashback limit for each purchase, which is generally between 1% and 10%. Cash back 1% credit cards are generally called "beggar cards", and it is not recommended to apply in principle. The way of cashback can be simple and rude cashback, and the purpose of cashback is up to you; It can also be points, which can be used to exchange air tickets, hotels and so on. The ratio is 1.5 times or even higher. The honeymoon trip and distinguished suite at the beginning of the article are close to 0- 1 discount, which is redeemed with integral lever.

Finally, credit cards have additional benefits. Generally, the higher the card, the more benefits. As mentioned above, these benefits can often deduct a large part of the annual fee. Take Datong sapphire reserve as an example. The annual fee is $550, which looks insanely high. But don't forget, the credit card itself includes an annual transportation subsidy of $300, a take-away subsidy of $60, a 76% discount on Raffles (equivalent to domestic Didi) and an airport VIP room membership card. The actual equivalent annual fee is less than $65,438+000.

Perfect safety legal mechanism behind fashion

Domestic credit cards often need to enter the transaction password to ensure security (according to my experience in using my dad's secondary card a few years ago, please correct me in the comments section if the situation changes), while the habit of Americans is to stroke a pen and not remember complicated passwords. Behind the chic is not only a highly developed anti-fraud monitoring network, but also a perfect legal system. The Fair Credit Trading Act of the United States stipulates that the cardholder's liability for "unauthorized use" is up to $50. In such an environment, people naturally tend to use credit cards, and the more you swipe your card, the more fees the bank charges, and naturally you are more willing to protect the rights and interests of cardholders, thus forming a virtuous circle.

Let's put aside the booming online payment in China, because it is the existence of credit cards from a high dimension. Compared with the credit card use environment at home and abroad, the United States is indeed more convenient and safer. However, it is precisely for this reason that online payment has not appeared in the United States.

Introduction of major banks and credit card recommendation

As mentioned above, the credit card market in the United States can be described as a hundred flowers blossom, each showing its magical powers, and different banks have different temperament. Some banks are relatively loose (such as Discover), and some banks are extremely sensitive to risky transactions (such as Chase). I choose the most important thing to tell you. It should be noted that the credit cards recommended below are all comprehensive benefits, which are relatively simple to use and suitable for beginners to apply. For credit card veterans, these credit cards may not be applicable.

BOA

Although the name is domineering, Bank of America (hereinafter referred to as BoA) is not the largest bank in the United States, but ranks behind Chase. Even so, Bao Er is still the first choice for many people.

Compared with the "arrogant" pursuit of money, Bao Er is more people-friendly, and the review of large transfers is relatively relaxed. My first bank card was a joint debit card of BoA and new york University. Although the design is ugly, it has the bonus of alumni plot after all.

The cash reward is their first credit card. There is no annual fee, so it is difficult to apply. You can give 200 yuan for card opening and 3% cash back for online shopping. It is very universal. If you have a savings account at the same time, you can enjoy a maximum of 75% cashback bonus (equivalent to 3.75% cashback ratio). Beginners can try to open their own debit cards, deposit thousands of dollars into their accounts, and then apply for credit cards, so the chances of passing will be higher.