2023-08-03 11:54:16
Bank credit cards are payment cards associated with a revolving line of credit. These cards are offered by banks, by specialized credit companies, by a store or a network of commercial brands for loyalty benefits.
A credit bank card allows you to withdraw cash and pay for purchases, in shops or on the internet. It is associated with a revolving credit opening. At the time of payment, the cardholder chooses to pay in cash or using the line of credit.
Bank cards associated with revolving credit carry the mention “CREDIT CARD” at the Recto part.
Bank credit cards offered by banks, financial institutions, directly or in partnership with a commercial brand
Banking establishments or companies specializing in consumer credit offer so-called double-action cards: payment bank card, affiliated with an international Visa or Mastercard network, backed by revolving credit, taken out with the bank concerned.
In this case, the revolving credit is offered as an option available on the payment bank cards of the establishment concerned.
Stores and other retail brands also market bank credit cards. These cards are issued by a credit institution as part of a partnership with the brand and can be used at its points of sale. They bear the colors and name of the brand.
These credit cards work like a brand loyalty card. They allow you to pay for your purchases in the stores that accept it, benefiting from advantages (discounts, loyalty points, priority checkouts, etc.). For each purchase, the cardholder must choose the mode of payment in cash or on credit.
These credit cards work like any payment card : you can pay for your purchases in all stores (and not just those of the brand) and make withdrawals from vending machines, in France and abroad. They also offer services and insurance related to the corresponding card range.
A so-called affinity credit bank card can be “co-branded”, created in partnership between a credit organization and a non-commercial organization: football club, charity association, sports federation, etc.
Choose your mode of payment in cash or on credit
The bank credit card allows its holder to choose at the time of each purchase (or withdrawal of cash from the distributor) between payment in cash or payment on credit. He must voluntarily activate the credit function of the card on the cash dispenser screen and on the merchant’s payment terminal.
The cash payment function applies automatically, in the absence of choice, that is to say when the cardholder does not expressly opt for payment on credit.
If you opt for a card of this type, be careful to make wise use of its credit function. Do not hesitate to use our revolving credit calculator. Don’t forget that other types of credit (personal credit, classic consumer credit) exist and are generally less expensive.
Manage credit card revolving credit
With a view to taking out the credit card, the financial institution (or the seller for a store card) is required to carry out a analysis of your solvencyasking you for your income and expenses, before deciding whether or not to grant you revolving credit.
A revolving credit offer must be given to you and you have a withdrawal period 14 calendar days from the signing of the contract.
The store can allow you to leave the same day of the subscription of the credit card with the good paid with this one. Know that if, back home, you do not want to follow up on your loan, you can retract. But your purchase, which is not conditional on obtaining revolving credit, will be final. Except return clauses specific to each brand.
Then you have a reserve of money available at all times. It is replenished each month as repayments are made. The interest to be paid is deducted from the sums remaining due at the end of each month..
Since the revolving credit associated with the store card is not linked to a specific purchase, if the good turns out to be defective or for example is not delivered, you must continue to reimburse it.
The revolving credit contract is concluded for one year, renewed tacitly every year. Three months before the expiry date, the credit institution informs you of the conditions for renewing the contract.
You can terminate the revolving credit agreement at any time, and return the credit card associated with it.
Note that simply returning the card does not put an end to the credit reserve, which can remain available and can be activated. It is therefore necessary to also terminate the revolving credit and repay the outstanding amounts.
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