Can I repay in installments with a credit card?

Credit card borrowing is divided into two types, one is credit card cash withdrawal, and the other is credit card loan.

1. Credit card cash withdrawal

If the cardholder uses a credit card to withdraw cash, then according to regulations, credit card cash withdrawal is not allowed in installments. After cardholders apply for cash loan services, they must repay within the specified time. There is no option for installment repayment or minimum repayment. And after choosing a cash loan, the installment rate will also increase accordingly.

2. Credit card loan

If the cardholder uses a credit card loan, he can choose installment payment.

Credit card loans actually refer to credit card personal consumption loan products launched by banks, specifically provided to bank cardholders. The credit card loan limit is generally separate from the original credit limit of the credit card. Assume that the cardholder has a credit card credit limit of 50,000 yuan. After applying for a credit card loan, there will be an additional borrowing limit of X million yuan.

Credit card loans are essentially consumer loans, so they can be paid in installments. The installment interest rate is calculated based on the bank's consumer loan interest rate, and some banks will calculate it directly based on the credit card installment rate.

The main application method for credit card loans is online application. Cardholders click on the mobile banking APP of the card-issuing bank, click "My Credit Card", then find the corresponding credit card loan application on the credit card page and submit it. Just apply.

As long as you find: Xiaotian Quick Check, you can query your online loan big data report with one click in the mini program. It will contain important data such as your credit rating score, whether there is a blacklist, etc. .

Extended information:

Can the minimum repayment of a credit card be paid in installments?

The minimum credit card payment cannot be paid in installments. When repaying a credit card, if you choose to repay only the minimum payment amount of the current bill, you need to pay off the minimum payment amount within the repayment period. The minimum payment amount cannot be applied for installment. Of course, as long as the minimum repayment is paid within the repayment period, you can pay it off in one lump sum when repaying the minimum repayment; you can also choose to repay part of it first and then part of it.

If the minimum payment is selected for the credit card bill, then the bill cannot be applied for installment. Of course, if there is a new bill on your credit card later, you can still apply for installment. It doesn’t mean that if you have a minimum payment on a credit card bill, subsequent bills cannot be installmentd.

In fact, whether it is minimum repayment or installment repayment, they are expedient measures for cardholders who are unable to repay in full on time. They are intended to relieve the cardholder's repayment pressure and avoid overdue payments. Whether to choose minimum repayment or installment payment depends on the cardholder's own situation. If the bill amount is large, it is recommended to apply for installment payment. If the bill amount is not very large, it will not take long for the cardholder to have sufficient funds. If so, you can choose the minimum repayment.

Can credit card repayment be paid in installments?

Yes. Cardholders only need to apply for installment repayment from the bank after the statement date.

Credit card installment payment classification:

Most domestic banks have credit card installment payment business. Installment payment is generally divided into shopping mall (POS) installments, online, etc. according to different occasions. Mail order installments and bill installments by mail, etc.

1. Shopping mall installment

Also known as POS installment, it means that cardholders go to shopping places and make purchases at "malls" where installment can be carried out. When checking out, please show a credit card that supports installment payment in this shopping mall and indicate that you need to pay in installments. Then the cashier will swipe the card on a dedicated POS machine according to the number of issues required by the cardholder (such as 3 issues, 6 issues, 12 issues, etc., a few shopping malls support 24 issues).

Note: Cardholder identity verification is required when making installment purchases in the mall, so remember to bring your ID card.

2. Mail order installment

It means that the cardholder receives the installment mail order catalog manual sent by the card-issuing bank (or the bank's online installment mall) and chooses from limited products. Then order through the online installment mall, call or fax the mail order installment application form, etc. to the bank for installment mail order.

There is generally no handling fee for mail order installments regardless of the number of installments.

However, due to the long ordering cycle (in many cases it will take more than 15 working days to get the product), returns and exchanges are relatively cumbersome, so it is recommended to compare before purchasing.

3. Bill installment

This is the most convenient installment method. Basically, all card-issuing banks can support this installment method, and the application is simple. Users only need to submit an installment application to the card-issuing bank by phone or other methods after swiping their card for consumption and before monthly bills are sent. However, it should be noted that each bank will stipulate some special cases. For example, speculative card swiping will not be successful in installments. So before proceeding with staging, be sure to read the staging manual carefully. The disadvantage of bill installment is that the handling fee is not waived. The longer the number of installments, the higher the handling fee, all of which must be borne by the cardholder. [img]

Can credit cards be repaid in installments?

Credit cards can be repaid in installments. Most banks can divide them into 6 installments, 12 installments, 18 installments, 24 installments and 36 installments. Card owners can choose a suitable number of installments based on their repayment ability and apply for installment repayment. Under normal circumstances, without special reasons, installment repayment applications can be approved by the bank's credit card center. In order to promote performance, many banks will take the initiative to arrange customer service to remind the card owner over the phone that they can transfer the consumption statement after the card owner's consumption bill is generated. Make installment payments.

Credit card installment payment

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the card-issuing bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder. ) consumption funds, and according to the cardholder's application, the consumption funds will be deducted from the cardholder's credit card account in installments, and the cardholder will repay according to the monthly account amount. In the past, credit card installments mainly included bill installments and single consumption installments. Banks usually charged corresponding handling fees based on the number of installments. Whether it is bill installment or single consumption installment, the premise is that consumption behavior occurs first, and then the bank sets the installment repayment of the credit loan generated.

Most banks in China have credit card installment services. Installments are generally divided into shopping mall (POS) installments, "mail order installments" and bill installments through the Internet, mail, etc. depending on the occasion. .

Shopping mall installment, also known as POS installment, means that cardholders go to shopping places, such as "malls" where installment can be purchased. When checking out, please show a credit card that supports installment payment in this shopping mall and indicate that you need to pay in installments. The cashier will swipe the card on a dedicated POS machine according to the number of issues required by the cardholder (such as 3 issues, 6 issues, 12 issues, etc., a few shopping malls support 24 issues). Note: Cardholder identity verification is required when making installment purchases in the mall, so remember to bring your ID card. Shopping mall installments are generally free of charge for three installments. The rates for 6 and 12 periods vary from bank to bank. Installment products can generally be purchased as long as they are normally sold in the shopping mall. In many cases, cardholders can also bundle multiple items together for checkout and then make installment payments.

Mail-order installment means that the cardholder receives an installment mail-order catalog brochure from the card-issuing bank (or the bank's online installment mall) and can choose from limited products. Then order through the online installment mall, call or fax the mail order installment application form, etc. to the bank for installment mail order. There is generally no handling fee for mail order installments regardless of the number of installments. However, due to the long ordering cycle (in many cases it will take more than 15 working days to get the product) and the relatively cumbersome return and exchange process, it is recommended to do more comparisons before purchasing.

Bill installment is the most convenient installment method. Basically, all card-issuing banks can support this installment method, and the application is simple. Users only need to submit an installment application to the card-issuing bank by phone or other methods after swiping their card for consumption and before monthly bills are sent. However, it should be noted that each bank will stipulate some special cases. For example, speculative card swiping will not be successful in installments. So before proceeding with staging, be sure to read the staging manual carefully. The disadvantage of bill installment is that the handling fee is not waived. The longer the number of installments, the higher the handling fee, all of which must be borne by the cardholder.

That’s it for the introduction of whether credit cards can be paid in installments.