If someone uses your credit card to spend money, but I didn't sign it, I don't have to accept it, and the merchant is responsible, because the merchant didn't check and sign it carefully when spending, and the final loss will be borne by the merchant. Because the payee of the credit card has the obligation to check whether the signature of the transaction slip is consistent with the signature on the back of the card, if there is obvious difference, and the payee can't prove that the consumption is made by himself, then he will bear the loss.
Misunderstanding of credit card use
Q: I can borrow money by credit card. My income is very low, so applying for a credit card helps me a lot.
A: No, the target customers of bank credit cards are high-end income groups. As can be seen from the above characteristics, credit cards are more convenient than saving money. Not only do you have to pay an annual fee to use a credit card, but once you miss the repayment time, the penalty interest is very high.
Q: Credit cards have a minimum repayment amount, so when I borrow a lot of money and can't pay it back, I just need to pay the minimum repayment amount.
A: Wrong. Paying the minimum amount is just the bottom line for the bank not to sue you, but you need to pay interest. Credit card interest is calculated by the day, and it is rolling interest, which is higher than ordinary loan interest.
It is necessary to distinguish between installment payment and minimum monthly repayment. The annual interest rate of installment payment or commercial loan is about 5%, and the special goods will be lower. Only the minimum amount, annual interest 18% or more.
Q: Credit cards can be overdrawn for cash withdrawal, so it is convenient for me to withdraw some cash for emergencies.
A: Correct. However, the cash withdrawal interest is also calculated on a daily basis, and there is no interest-free period. The interest is calculated from the day of cash withdrawal, and the interest is also calculated on a daily basis, which is so high as to miss the penalty interest on the repayment date. However, it is recommended to deposit a small amount of assets in the credit card in case of emergency, because the funds in the credit card have no current interest. Even more deadly, many bank credit cards will charge a handling fee even if you have cash in your card. So you'd better take a bank savings card with you and leave some cash in it. There are few places where large amounts of cash are spent, and credit cards can usually be used for spending, and credit cards have interest-free periods.
Q: I don't remember how much money I borrowed this month. Still a number. Even if it is not enough, it is only a small difference, and the interest will not be much.
A: Wrong. If there is no full repayment in the final repayment period, if it is not within the repayment tolerance, the bank will also recover all the interest of the "interest-free period". For example, the 5th of each month is the final repayment date. On the 6th of last month, you borrowed 10000, and on the last repayment date, you only paid back 9,990. Then, on the next final repayment date, you have to pay one month's interest 10000 yuan-about 150 yuan, and you still owe 65438 yuan.