What is a Credit Card ?
Credit card is a credit certificate issued by a commercial bank or credit card company to a qualified consumer. It takes the form of a card with the name of the issuing bank, the expiration date, the number, the cardholder's name, etc. printed on the front, and the card with a magnetic stripe and signature note on the back. Consumers with credit cards can shop or spend in a special business service, where they can be settled by the bank with merchants and cardholders, who can overdraft within the specified limit.
A credit score card, additionally known as a credit card. it is a credit certificate issued with the aid of a commercial bank or credit card organisation to a qualified customer. It takes the shape of a card with the name of the issuing financial institution, the expiration date, the wide variety, the cardholder's call, and so forth. printed on the the front, and the cardboard with a magnetic stripe and signature observe at the back. purchasers with credit score cards can shop or spend in a special enterprise service, where they may be settled via the bank with merchants and cardholders, who can overdraft inside the unique restriction.
Credit cards are generally 85.60 mm long, 53.98 mm wide, 1 mm thick special carrier plastic card, the front printed with the name of the issuing institution, expiration date, number, cardholder name and other content, the back has a chip, magnetic stripe, signature note. Cardholders can purchase, spend and access cash to the bank via credit card to the special unit.
Credit card spending is a non-cash transaction payment method, which is not required to pay cash and is repaid on the bill date.
Credit card is divided into credit card and quasi-credit card, credit card refers to the cardholder has a certain credit limit, can be consumed within the credit limit after repayment of the credit card, quasi-credit card refers to the cardholder as required to deposit a certain amount of reserve money, when the reserve account balance is insufficient to pay, can be within the prescribed credit limit of the quasi-credit card.
Credit cards do not encourage cash deposits, consumption before repayment, interest-free repayment period, self-paid repayment (with minimum repayments), join VISA, Master Card, JCB and other international credit card organizations for global use.
Credit card is one of the fastest growing financial businesses which also is a range of alternatives to traditional cash flow of electronic money.
Credit cards have both payment and credit functions. Cardholders can purchase goods or enjoy services, and they can obtain a loan from the card issuer by using a credit card.
It is a high-tech product that integrates financial business and computer technology. And it can reduce the use of cash currency.
It Can provide settlement services, convenient shopping and consumption, enhance the sense of security.
It Can simplify the collection procedures, save the social labor force and promote the sale of goods, stimulate social demand.