The invention discloses an intelligent IC card, a terminal and an intelligent card gray-lock application method. The method comprises the following steps: the terminal issues an initialization gray-lock command to the IC card, wherein the initialization gray-lock command contains an expected pre-freezing money value; the IC card receives the command of the terminal, a practical pre-freezing money value is set, and the practical pre-freezing money value is returned to the terminal; the terminal calculates MAC1 according to the practical pre-freezing money value returned to the IC card, and issues a gray-lock command; and the IC card verifies whether the MIC1 issued by the terminal is correct or not, and calculated GTAC and MAC2 are returned to the terminal when the verification result is correct. The money value in the IC card can be once partially pre-frozen by the terminal according to the practical situation of the user to be used for corresponding business. After gray-locking, a cardholder can take the card away, and financial trading operations comprising load, unload, consumption and the like are carried out against a residual value obtained after deducting the total money value by the pre-freezing money value in the card, so the normal trading treatment of the gray-locked card is guaranteed, and the use convenience of a user is improved.