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White people must read, credit card basics

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What is a credit card? A credit card, also known as a credit card, online credit card payment gatewayis a certificate of credit issued by a commercial bank or credit card company to a credit-qualified consumer. Credit card holders can shop or make purchases at a special business service, and then the bank settles the account with the merchant and the cardholder. The cardholder can overdraw up to a specified limit.

Key words for credit card

Billing date: The billing date is the monthly summary of all currentcnc machined aluminum transactions, fees and other charges on your credit card account, including interest, the total amount you owe and the minimum amount you must pay, sent to you by the issuing bank in a statement. This date is the date of your credit card statement.2. Payment Date: For non-cash credit card transactions, the interest-free payment date is the date from the bank's crediting date to the due date. The repayment period is usually 20 days after the billing date, and varies slightly from bank to bank, between 19-25 days. If you have trouble paying, you should pay at least the minimum amount (usually 5% or 10% of the bill), otherwise you will be subject to full penalties, late fees and bad credit.

Cashing out: Credit card cashing out is different from credit Whatsminer M31S+card cashing out, credit card cashing out is one of the inherent functional issues of the credit card product itself, cardholder information can choose to use the credit card to the bank as a way to withdraw cash from the business, the main elements of credit card cashing out include overdraft cashing out and overdraft cashing out in two different ways. Overdraft cash withdrawal is we need a pay interest and is designed to calculate interest from the day you withdraw cash, while overdraft cash withdrawal does not require you to pay interest, only need to pay the system part of the processing fee, depending on the management regulations of each bank.

Cash advance: There is a limit on the amount of cash advance that can be borrowed. Generally, for businesses, the amount of cash advance that can be borrowed is 1/3 to the full amount of the credit facility. Although we can withdraw as well as cash through the use of bank credit cards, please do not choose to use the cash advance feature in non-emergency situations, as they are costly to use the cash advance management feature of Chinese credit cards.

Installment Payment: The process of using a credit card for large purchases where the bank pays the merchant a lump sum for the cardholder's purchase of goods (or services) and then allows the cardholder to visit the bank to make installment payments and pay the processing fee. According to the cardholder's application, the bank will collect the consumption funds and handling fees in stages through the cardholder's credit card account, and the cardholder will repay the fees charged to the bank on a monthly basis.

Credit limit: A credit limit is a maximum overdraft limit given to your credit card by the bank when approving your credit card, you can only spend within this limit, beyond which you cannot spend normally. The credit limit will be adjusted by the bank periodically, but cardholders can take the initiative to provide relevant proof of financial strength to request an adjustment of the credit limit. In addition, when you need a higher credit limit within a certain period of time in situations such as traveling abroad or moving to a new home, you can request a higher temporary credit limit.

Minimum repayment amount: If you have difficulty in repaying all the work payable amounts of the enterprise before the due date of non-payment (inclusive), you can make timely repayment according to the minimum repayment amount situation specified by the card issuer, but you cannot fully enjoy the interest-free repayment period. The minimum repayment amount is 10% of the consumer loan amount plus various amounts payable by various companies in other countries. The minimum repayment amount is shown on the current statement.

Annual fee: A certain amount is deducted from the corresponding account each year, i.e. the annual fee. Currently, most banks, except for general platinum cards, have policies such as no annual fee for the first year and no annual fee for the next year, and some platinum cards can use points to redeem the annual fee.

Full Penalty: After the final payment deadline has passed, the card issuer will charge the cardholder interest on the total amount, regardless of whether partial payment has been made during the month.

10. Credit Report: It is a written report that credit agencies collect credit information from different sources through legal means, collate and process it, and provide it to authorized users. Its characteristic is that it does not modify or change the information of the credit subject, and is an objective, fair and true credit record. When you apply for loans, credit cards and other businesses, banks will check your credit report and generally reject it if there are late payments. If there is a short-term overdue payment, you should pay it off immediately and keep six months of normal usage records to update your account information.

In short, credit card whites should control the number of student credit card products, protect our own credit card for information, keep in mind the billing date and repayment date, understand their own credit card annual fees, repayment risk matters, etc., so that they can grow from a bank credit card whites business to a junior cardholder and gradually start on the road to card god ~


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