Bank card is a credit payment tool with all or part of the functions of consumer credit, transfer and settlement, and cash deposit and withdrawal, etc., which is issued to the society by commercial banks (including postal financial institutions) upon approval. Bank card reduces the circulation of cash and checks, and makes the banking business break through the limitation of time and space, and has undergone fundamental changes. The use of automatic bank card settlement system, so that the dream of "no checks, cashless society" has become a reality.
Types of cards
Debit cards
Debit cards are divided into transfer cards, special cards, and stored value cards according to their functions. Debit cards cannot be overdrawn. Transfer card has the function of transferring money, depositing and withdrawing cash and spending money. Specialized cards are debit cards that are used in specific areas and for specific purposes (meaning purposes other than department stores, restaurants and the entertainment industry) and have the functions of transferring money and accessing cash. A stored value card is a prepaid wallet-type debit card in which the bank transfers funds to be stored in the card at the request of the cardholder, and debits the funds directly from the card at the time of transaction. Common bank card back
Debit card [debit card] can be in the network or POS consumption or through the ATM transfer and withdrawal, can not overdraft, the amount of money in the card according to the demand deposit interest. The amount in the card is interest-bearing as a demand deposit. When spending or withdrawing money, the funds are transferred directly from the savings account. Debit cards generally require a password (PIN) for use. Debit cards can be categorized into ordinary, gold and platinum cards according to their grades, and into domestic and international cards according to their scope of use.
Credit Cards
Credit cards are further categorized into credit cards and quasi-credit cards. A credit card is a credit card in which the issuing bank grants the cardholder a certain credit limit, and the cardholder can make purchases within the credit limit and repay the loan later. A quasi-credit card is a credit card in which the cardholder first deposits a certain amount of reserve as required by the bank, and when the reserve is insufficient to cover the payment, the cardholder can overdraw within the credit limit stipulated by the card-issuing bank.
Credit card
Credit card (Credit card), often referred to as credit card, refers to the credit limit given to the cardholder by the issuing bank, and the cardholder can consume within the credit limit first, and then repay the credit card. It has the following characteristics: spending first and repaying later, enjoying interest-free payment period (up to 56 days), and having a minimum repayment amount, customers can repay the overdraft in installments on their own. Customers are required to pay a certain amount of annual fee to the bank they apply to, which varies from bank to bank.