most banks in China have credit card installment business, and installment payment is generally divided into shopping (POS) installment, online installment and mail order installment according to different occasions.
1. Shopping staging
Shopping staging is also called POS staging, which means that cardholders can stage shopping in shopping places, such as shopping in shopping malls. Credit cards that provide installment service in shopping centers require installment payment at checkout. Then the cashier will swipe the card on the special POS machine according to the number of periods required by the cardholder (such as 3 periods, 6 periods, 12 periods, etc., and a few shopping malls support 24 periods), and the installment payment can be completed.
2. mail order installment
refers to the installment mail order catalog manual sent by the card issuing bank (or the online installment mall of the bank), and the cardholder can choose from the limited commodities. After that, order through the online installment mall, and purchase the installment application form by phone or fax to the bank for installment mail order. Postal installments, regardless of the number of installments, generally do not charge fees. However, due to the long ordering cycle (in many cases, it will take more than 15 working days to get the goods) and the troublesome return and replacement, it is recommended to make more comparisons before buying.
third, bill installment
this installment is the most convenient, and all card-issuing banks can basically support this installment method, and it is relatively simple to apply. Users only need to apply for installment to the issuing bank by telephone after spending by credit card and before issuing monthly bills. However, it should be noted that some special circumstances, such as speculative credit card consumption, cannot be successfully phased. Therefore, be sure to read the staging manual carefully before staging.
the disadvantage of bill installment is that you can't waive the handling fee. The longer the period for charging the handling fee by installment, the higher the handling fee, and all of it will be borne by the cardholder.