It should also be noted that after the installment repayment is settled in advance, 3% of the outstanding principal will be charged as the liquidated damages for the early settlement, and the marketing activity rewards enjoyed during installment processing will be deducted, and the handling fee collected will not be refunded. Moreover, the procedures set in advance cannot be revoked after handling. I suggest you continue to repay the loan in installments to facilitate fund management.
Credit cards usually have an interest-free period of about 50 days. After consumption, the cardholder does not need to repay immediately, as long as he repays before the last repayment date.
There is a saying that a bank that repays in advance may feel that the cardholder's credit and strength are good, thus increasing the credit card limit. In fact, for banks, whether they repay a few days in advance or on time, it has little impact on the withdrawal amount. However, this situation is not ruled out. For example, the bank recently introduced a quota, one often repays on the repayment date, and the other often repays a few days in advance. The bank naturally gave the quota to the latter. For card-issuing banks, in addition to a series of costs such as products, operations, marketing and equipment, there is also a cost of capital. From this perspective, banks should hope that cardholders can repay as soon as possible.
There is no need to prepay in installments.
After handling the credit card installment business, you need to repay according to the amount payable in each installment. Even if there are enough funds, it is not recommended for cardholders to repay the installment arrears in advance. On the one hand, the prepayment fee is charged, so the prepayment fee will not be saved. On the other hand, in the bank's view, this is more likely to be the cardholder's breach of contract, and even the cardholder has to pay liquidated damages.
You must pay back before applying for a card loan.
A friend once encountered such a situation. When applying for a loan, he was asked to pay off his credit card debt first. This is because too much credit card debt can easily lead to higher debt. Once the debt becomes higher, it will be unfavorable for applying for credit cards or loans. As far as applying for a credit card is concerned, if the bank judges that your total repayment ability is 200,000, when you have more and more credit cards and the credit limit is getting higher and higher, you may not have a higher credit limit when you apply for a credit card again, or even be rejected. This is the impact of total credit and liabilities.
Is the repayment date suitable for repayment?
As long as it can be recorded before the repayment date expires, there is nothing wrong with it. The bank looks at the cardholder's last repayment time, not the operation time. Therefore, it involves the issue of the time when funds are recorded, especially when cardholders use third-party platforms to repay, and the possibility of delay in recording is not ruled out. Therefore, in order to ensure timely repayment, it is recommended to repay a few days in advance to avoid repayment on the last day. To sum up, repayment on time and a few days in advance have no particularly great impact on banks. If you want to increase the credit card limit, you still need to do more work.