Based　on　a　linear　mono　centric　city,　with　the　explicit　consideration　of　user　heterogeneity,　i.e.,　each　commuter　has　a　different　value　of　time　(VOT),　this　paper　investigates　the　optimal　Park　and　Ride　(P&R)　location　along　the　subway　in　a　mode　choice　equilibrium　model.　On　the　basis　of　the　model,　we　further　examine　the　impact　of　the　Tradable　Credit　Scheme　(TCS)　on　the　mode　choice　equilibrium.　Numerical　results　shows　that　TCS　could　effectively　attract　some　commuters　divert　from　auto-mode　to　P&R　mode,　and　the　amount　of　commuters　driving　all　the　way　continuously　descends　with　the　increase　of　the　credit　price.　Furthermore,　we　find　that　there　is　an　optimal　price　to　ensure　the　total　system　cost　keeps　the　minimum.　©　2017　IEEE.