How about installment payment for Guangfa Bank credit card bill?
1. Introduction to Guangfa Bank Credit Card Bill Installment Payment
Guangfa Bank Credit Card Bill Installment Payment is a new installment payment product of Guangfa Bank. You can flexibly choose Guangfa Bank according to your own financial situation. Installment repayment options provided. Advantages of installment payment of credit card bills of Guangfa Bank:
1. Repay the current bill in installments and enjoy the interest-free repayment period;
2. Only low handling fees are charged;
3. More freedom and flexibility! There are up to 4 types of period settings for you to choose from;
4. Application is convenient and fast. Cardholders can apply by calling our customer service hotline (95508) or through the Lakala terminal, and it will be approved immediately.
2. Guangfa Bank credit card bill installment payment details
Application time: Apply from the day after the current bill date to the 2nd day after the payment is due;
Application Amount: The installment amount of the current bill must be 500 yuan or more, but the amount shall not exceed 90% of the current bill amount, and shall not exceed 80% of the permanent credit limit;
3. Guangfa Bank Credit Card Bill installment payment handling fee
Industrial Bank credit card bill installment handling fee calculation formula:
Handling fee per installment = total installment amount × handling fee rate per installment; total handling fee = Number of installments × installment handling fee rate
Number of installments and handling fee rate:
4. Application method for installment payment of Guangfa Bank credit card bill
1. Call :95508 Application:
Customers call: 95508→Enter the ID number and verify it→Select installment payment (press 4)→Select manual service (press 0) to handle→Follow the prompts of Guangfa Bank customer service personnel, apply for The current bill will be installed in installments → Guangfa Bank customer service staff will approve it for you immediately → SMS notification will be sent upon success.
2. Apply through Lakala terminal:
Use Lakala terminal → swipe Guangfa credit card → enter mobile phone number → enter the number of installments → confirm the installment information → repay the "should" through debit card "Repay the amount" → Generate bill installment order.
Guangfa Credit Card cannot be used now. Is it easy to use the credit card after installment?
It is not easy to use. Whether the credit card can be used by swiping the card has nothing to do with whether it is applied for installment. Therefore, the Guangfa Credit Card cannot be used after the credit card is installmentd. Credit card is a non-cash transaction payment method. There is no need to pay cash when purchasing, and repayment will be made on the billing date (BillingDate).
The consequences of Guangfa Credit Card Bill Installment are serious
Guangfa Credit Card Bill Installment must popularize the common sense of credit card repayment, and do not blindly carry out bill installment repayment.
Usually there are three repayment methods for credit cards, repayment in full, repayment in installments, and repayment according to the minimum repayment amount. If you pay off the amount on time according to the full repayment method, you can enjoy the bank's "interest-free period" treatment. The interest-free period of Guangfa Credit Card can be up to 56 days; installment repayment is suitable for repayment after large purchases, and there is a handling fee. However, it will be evenly distributed in the monthly repayment amount, appropriately reducing the repayment pressure.
In addition, you can also choose to pay the minimum repayment amount. As long as you pay the minimum repayment amount before the due payment date, it will not be regarded as overdue. However, transactions within the billing cycle do not enjoy interest-free treatment. , interest will accrue.
In terms of interest collection, all major banks follow the relevant provisions of the "Bank Card Business Management Measures". Compound interest is calculated on a monthly basis for credit card overdrafts, and the overdraft interest rate is 0.05% of the daily interest rate. According to China This interest rate adjustment is subject to adjustment by the People's Bank of China.
As for liquidated damages, according to the new credit card regulations implemented in 2017, for the cardholder’s default and overdue repayment, the card issuer and the cardholder shall agree through an agreement whether to charge liquidated damages, as well as related Collection methods and standards.
Specifically for Guangfa Credit Card, liquidated damages will be charged differently based on the customer’s overdue situation and credit situation. For cardholders who have not been overdue for two consecutive months, the penalty will be 5% of the unpaid portion of the minimum repayment amount. Charge; if the minimum repayment amount is not paid off for more than 2 consecutive months (inclusive), 6% of the unpaid portion of the minimum repayment amount of the customer's bill will be charged.
Extended information:
To avoid overdue payments, maintain a good repayment record and choose a reasonable repayment method.
If you have multiple credit cards, it is best to set up automatic repayment to avoid forgetting the repayment dates of different credit cards; if there is pressure to repay a large amount, the cardholder can choose to repay in installments and flexibly choose the number of repayment periods according to the financial situation. The repayment method requires payment of a certain installment fee, but if you repay each installment on time, no interest will accrue.
If you don’t have sufficient funds when the final repayment date comes, you can also choose to repay according to the minimum repayment amount to avoid a bad credit record. However, if you choose the minimum repayment method, transactions within the billing cycle will not enjoy interest-free treatment and will accrue interest. Moreover, if the minimum payment of each bill is not paid on time, liquidated damages will also be charged according to regulations.