Credit card installment one-time repayment operation process; call the customer service of the credit card bank to apply, and then all the money will be included in the next bill. You can pay it off on the same day, but there will be interest every day, and no matter what is left, The installment fee must be paid for the number of installments, and subsequent installment procedures will not be canceled due to early repayment.
1. Can I pay off my credit card in advance?
Credit cards can be repaid in advance; there are no handling fees. Under normal circumstances, the order of credit card repayment is to pay the bills that have been issued first, and then the bills that have not been issued. The remaining money becomes "overpayment", and the overpayment will be spent first by default when swiping the card. Some banks charge handling fees for withdrawing overpaid credit card funds, which needs to be noted by cardholders. That is to say, if we have credit card bills that have been paid and unpaid bills at the same time, our repayment will be offset against the paid bills first, and the remaining money will be used to repay the unpaid bills. Whether it is full payment or partial payment, the credit limit of the cardholder's credit card will be restored, but what will be restored is the repayment amount paid. If the current bill is not paid off by the final repayment date, late payment fees will be incurred and may also affect the cardholder's credit record.
2. Is it possible to repay the loan in advance when applying for installment?
Credit card installment business involves installment handling fees. Some banks charge them in one go, while others charge them in installments. Generally speaking, if you apply for a credit card installment business, you can repay the loan in advance. For example, if you apply for 12 installments and you have enough money by the time you pay the 6th installment, you can repay the loan in advance. However, for early repayment after a credit card installment, the installment handling fee is often non-refundable or the bank will still charge the handling fee for the remaining installments. However, among domestic banks, ICBC and CITIC currently do not charge installment handling fees for the remaining installments. CITIC credit card handling fees are charged in installments. During the bill or single installment process, a one-time repayment can be made in advance. After the early repayment, Handling fees that have been incurred in the previous period will not be refunded, and handling fees that have not yet been incurred will no longer be charged.
3. Is it a good idea to repay the loan in advance?
1. Bank’s perspective: We all know that banks mainly make money from the difference between deposits and loans, and they absorb deposits and use them for lending. Therefore, there are certain lending plans and tasks every year. In the bank's risk control, there are matching issues such as the sensitivity of the prices of assets and liabilities to interest rates.
For example, banks encourage the deposit of longer-term time deposits, so that the liquidity of funds is smaller, and then match borrowers. If the loan is repaid in advance, it will break the lending balance established by the bank, and it will not Conducive to bank risk control.
2. From the perspective of credit: There are no rules and no rules. Borrowing money from relatives and friends does not require complicated procedures. Repaying the loan early will also add points to your character. But for institutions, early repayment will be regarded as negative behavior and untrustworthy behavior.
In layman's terms, when a lending institution lends you money, it is a sign of trust in you. It is equivalent to depositing the money in your hands as an item and agreeing on how long it will be kept. Not keeping it until the time is up is obviously not trustworthy.
3. P2P perspective: Many P2P platforms issue structured investment products and sell loans as financial products. If the loan is repaid early, some people will have no income.
4. The perspective of third-party payment: Some third-party platform payment institutions, even if they repay the loan in advance, will repay it for you within the specified time, and they will have to bear the penalty interest for breach of contract, and There is a certain risk if the account cannot be received in time, so it is better to repay on time.
If you can repay the loan early and there is no penalty interest, you can do whatever you want, but if you can repay the loan on time, it is best to repay the loan on time, so as to reduce the interest fee and increase the amount in the future. will all help. In the same way, if after your own analysis, as long as it is not a loan that is unfavorable to you, now that you have applied for it, you should make good use of it and repay it when it is due.