During the Spring Festival overseas credit card, foreign currency credit card spending limit?
Edit: Pomegranate JunSource: Pomegranate JunDate: 2018-02-08
In recent years, traditional festivals have become less and less traditional. More and more people choose to travel abroad during the Spring Festival. Rare holiday, many people plan to go abroad to see the world. The eve of the Spring Festival in 2018 the RMB outbreak gains, the renminbi against the dollar is more cost-effective, and at this time outbound tourism spending, but also a rare good time.
Overseas spending, the use of foreign currency has a limited amount of cash, but also unsafe, most people still choose to brush credit card payment, the use of multi-currency cards or all kinds of credit cards. So, whether the credit card foreign currency spending limit, there are other issues that need attention?
This article, pomegranate Jun said credit card foreign currency related issues.
First, whether the credit card foreign currency spending limit
On December 29, the State Administration of Foreign Exchange released the "Circular of the State Administration of Foreign Exchange on Regulating Large-amount Withdrawal of Cash from Banks Overseas," which stipulates that individuals should withdraw cash from overseas bank cards, and that their own bank card (including an affiliated card) Total annual natural value shall not exceed 100,000 yuan. However, the above provisions are limited to withdrawing cash from bank cards overseas and do not impose any specific restrictions on overseas credit card spending.
In other words, the use of overdraft credit card spending abroad, there is no specific limit, the cardholders need to return after the purchase amount in accordance with the purchase of foreign exchange repayments, the amount is not subject to specific restrictions.
Second, the credit card to take the existing limits of foreign currency
Credit card foreign currency to take the existing limit, the credit card for foreign currency cash withdrawal set the day limit and single limit, this requires the cardholder before departure to understand clearly, especially if the cardholder has cash withdrawal needs, it is even more should know the issuing bank's Specific limits prescribed.
In addition, the credit card to withdraw cash is generally a fee, and fees compared to the domestic withdrawal is much higher. If there is no special need, it is not recommended to withdraw cash. There are a few special card types with overseas cash handling fee concessions. For example, for each natural month, the first overseas cash withdrawal fee is free, then consumers with cash withdrawal needs to be provided with a credit card with overseas cash withdrawal.
Third, beware of foreign currency exchange fees
The general currency credit card is a foreign currency transaction, RMB accounts, no foreign exchange fees, more convenient to use, but the exchange rate needs to be in accordance with the exchange rate of the bank to convert, controllability is low. Dual-currency credit cards can be foreign currency transactions, foreign currency credited, the cardholder repays foreign exchange repayments. However, dual-currency credit cards are usually RMB + US dollar currency configurations. If the cardholder swaps a card in the euro area or other currency area, foreign currency exchange fees will be incurred, usually 1.5% or 1.75% of the amount of consumption Fees are still relatively high. It is recommended that you make full use of currency credit cards when spending abroad or use UnionPay cards with merchants who can use UnionPay cards to dispense with foreign exchange fees.
Fourth, the best foreign currency credited manual repayment
As mentioned above, if it is a full-currency credit card, you can return the renminbi as long as you pay it back in RMB. If you are a dual-currency credit card, the cardholder can select RMB and RMB for repayment. Exchange repayment. If the foreign currency is credited, the purchase of foreign exchange repayments, it must be noted that the general foreign currency consumption can not be automatically repayments, the need to manually purchase repayments. Pomegranate Jun wrote a repo before buying an article, the content is the cardholder to choose the right time to buy foreign exchange, but also appropriate to earn the exchange rate differential.
Fifth, actively participate in bank overseas promotions
During the holidays, banks will also launch a variety of overseas credit card promotions in order to attract cardholders to spend their overseas credit cards. Among them, the most common form is credit card spending (return credit card) and other activities. Participate in such activities, access to cashback offers, you can help cardholders achieve the purpose of saving money. Cardholders can travel to the issuing bank's official website or the official WeChat public number for details.
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