The most common credit card installments are 3 months, 6 months, 12 months and 24 months.
All issuers can basically support this staging method, and the application is simple. Users only need to apply to the issuing bank for installment by phone after spending their credit cards and before sending monthly bills.
Credit card installment payment refers to the process that when the cardholder uses the credit card to make a large amount of consumption, the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments and pays the handling fee. According to the cardholder's application, the bank deducts the consumption funds and handling fees by stages through the cardholder's credit card account, and the cardholder repays according to the monthly recorded amount.
Extended data:
Credit card installment payment has the following advantages:
1, get existing help for subsequent credit cards.
Handling the installment has brought benefits to the bank, and the bank is more willing to give you a sum of money as a "return", that is, it is helpful for credit card withdrawal. Catch up with the preferential activities of the bank to reduce fees by stages, and you can also get the time value of funds without handling fees.
2. You can develop good financial habits.
If you have regular financial expenses, after handling the bill installment, you can reduce the repayment pressure in the current period and maintain regular financial expenses. Additional monthly installment payment can also limit your expenses and help you control your consumption reasonably. Moderate enjoyment is a lifestyle advocated by credit cards.
3. No need to use existing assets.
If the credit card exceeds the daily expenses, many people will think of using the existing assets to repay the loan, but this method is not recognized. Withdrawing the time deposit certificate in advance can only get the income of demand deposit, and the income will be reduced by nearly 10 times. Credit card bill installment allows you to apply for repayment within 12 or 24 months after credit card consumption, so naturally you don't have to worry about repayment.
References:
Baidu encyclopedia-credit card installment payment