Bank cards can be divided into Class 1 cards, Class 2 cards and Class 3 cards according to their functions and purposes. This classification was set by the People's Bank of China in order to strengthen the management of payment and settlement and standardize the development of bank card business. The specific meaning is as follows:
1.*Class 1 Card**:
The first type of card refers to the ordinary savings card, which the cardholder can use at any bank outlet nationwide for deposits, withdrawals, transfers, consumption and other businesses.
There is often no consumption limit for Class 1**, but real-name authentication is required, and each Class 1 card can only be bound to one ID card.
2.*Class 2 Card**:
The second type of card refers to the debit card, which has a certain spending limit and is suitable for daily consumption and small payments, such as supermarket purchases, online payments, etc.
The second type of card also requires real-name authentication, but it can be bound to multiple accounts, which is suitable for users with multiple fund management needs.
3.*Three types of cards**:
The third type of card refers to the credit card, which has an overdraft function, and the cardholder can spend first and repay later within the specified credit limit.
Category 3** is commonly used for credit consumption, such as shopping, travel, etc., and it also has detailed bills and repayment dates, which require cardholders to repay on time.
Category 3 cards require more stringent real-name authentication and usually have an annual fee.
The setting of various types of cards helps to meet the payment needs of different users, and also facilitates financial institutions to better manage risks. When using a bank card, whether it is a Class 1, Class 2 or Class 3 card, users should pay attention to the security of their personal information to avoid card theft, and at the same time repay the loan on time to avoid unnecessary fees.