First, the market significance of installment payment
Installment payment is actually a loan provided by the seller to the buyer. The seller is the creditor and the buyer is the debtor. The buyer can get the goods or services he needs only by paying a small amount of money, but because the interest is included in the future installment, the amount paid for the same goods or services by installment is more than the amount paid in one lump sum.
On the one hand, installment payment allows sellers to complete promotional activities, on the other hand, it also provides convenience for buyers.
Second, make clear the scope of installment payment. Banks have different ways to pay by installment.
In addition to the goods in the credit card installment catalogue, some banks have specific requirements on the place and amount of purchase. For example, GDB card, you can apply for installment payment for a single transaction in 500 yuan, and you must call customer service to register before consumption; China Merchants Bank can apply for installment payment for consumption in Gome, B&Q and other places. It is important to find out whether this consumption can be paid in installments before shopping.
Accurately calculate the handling fee. Nothing for nothing. Although credit card installment payment is free of interest, the handling fee is inevitable. Calculate the handling fee to be paid before consumption. If the price is acceptable after adding the handling fee, it is not too late to swipe your card again.
Choose the most cost-effective credit card. Because banks calculate fees in different ways, you should choose the most suitable card to trade after you know the fees of credit cards. The service fee rates of various banks are as follows: Bank Phase III, Phase VI and Phase IX 12, China Guangfa Bank 1.8% 3.6% 5.4% 7.2% China Merchants Bank 2.6% 4.6% -7.2% Industrial and Commercial Bank of China1.65% 3.6% 5.
Installment payment is mostly used for some product transactions with long production cycle and high cost.