Is there any introduction to the installment number of Bank of China credit card?
The number of installments supported by Bank of China credit card consumption installment, bill installment and cash installment are: 3, 6, 9, 12, 18 and 24 installments.
The above content is for your reference, please refer to actual business regulations.
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How many installments can a credit card be divided into at most?
A credit card can be divided into up to 24 installments. Credit card bill installment payment is one of the types of credit card installment payments. This kind of installment payment refers to the number of installments for credit card holders. After using a credit card to make a purchase, a person requests the credit card center to return the consumption amount to the bank in installments.
If you hold a China Merchants Bank credit card, you will have the bill installment function after paying in full (only if you hold a commercial card, official card (including financial official card), purchasing card, ANA guaranteed card or additional card Cardholders cannot apply): You can enjoy the interest-free period but there is a handling fee. Handling fee per period = total installment amount × handling fee rate per period. The minimum handling fee per period is 5 yuan. Handling fee per period = total amount = single period rate. Currently, there are 2 to 36 periods. The number of periods, the single-period handling rate is 0%~1.67%. When applying for RMB bill installments, the minimum amount applied for each time is no less than 300 yuan. When applying for US dollar bill installments, the minimum amount applied for each time is no less than US$100. The total amount applied for installment payment for unbilled transactions must be equal to the total amount of the original transaction. Cardholders are not supported to apply for installment repayment of part of the amount of a single transaction. Cash advance transactions, installment transactions, real estate transactions, RMB funds that have been applied for foreign exchange purchases, and other transactions designated by the Bank cannot apply for bill installment. The maximum amount that can be applied for bill installment is subject to the actual evaluation results. There is a standard for determining the maximum number of installments that a credit card can be divided into. There are several simple installment businesses:
1. Ordinary installments:
The ordinary installment businesses of credit cards are generally divided into 3 months, 6 months, 9 months, 12 months, 18 months, 24 months, some banks have 36 months, and some banks have only 12 months. You need to pay the monthly repayment amount and all handling fees in one lump sum on the first repayment date below. The handling fee is about 4% to 10%, and the regulations of each bank are different, so please pay attention to the inquiry.
2. Apply for installment payment at a merchant:
Generally, such credit card installment requires a certain handling fee, and the maximum installment is about 36 months.
3. Large-amount installments:
Large-amount installments are generally used to purchase cars, house decoration, etc. The number of installments is generally 12 months, 24 months, or 36 months. , the handling fee is about 4%, 8%, 12%. Generally, the monthly repayment amount and all handling fees are paid in one lump sum on the first repayment date.
How many credit card installments are the most cost-effective
The installment amount depends on the amount. So sure.
It is recommended that customers do not always apply for long-term installments, so as not to make the bank think that the repayment ability is insufficient, which is not conducive to increasing the card limit.
Usually it is enough to choose the number of installments from 3 to 6. If you want a longer installment, 12 installments are enough, and it does not have to be too long.
The number of installments available for a credit card mainly depends on the regulations of the card-issuing bank and the type of installment business handled by the customer. However, the available installment ranges for most bank credit cards mainly include 3, 6, 9, 12, 18, and 24 installments; some bank credit cards can also be divided into 2 or 10 installments. Special installments, as well as the super long-term installment of 36 installments (for details, please call the customer service of the card-issuing bank, and it will be subject to the installment page).
When customers apply for credit card installments, they just need to choose the appropriate number of installments based on their own needs and repayment ability. However, everyone needs to note that the installment fee may also be different depending on the number of installments selected. Of course, generally the longer the credit card installment period, the more installment fees you have to pay.
Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back.
Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.
Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.
Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).
Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.
Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).
The maximum number of installments that can be repaid with a credit card
36 installments. The repayment with a credit card can be divided into up to 36 installments. Different credit card installment types, number of installments and handling fees are also different. , to be sure, there are handling fees for credit card installment business, and if you repay in full and on time every month, no interest will be charged. Usually, the more the number of credit card installments, the higher the handling fee. Handling fee = total installment handling fee per installment.
The advantages of credit card installment payment are:
1. You can buy the goods you want or urgently need when you are short of cash or savings;
2. You can alleviate the According to your own repayment pressure, spread the consumption amount over three months or even longer to repay;
3. Credit card installment can indirectly increase the credit card limit.
The disadvantages of credit card installment payment are:
1. Credit card installment needs to pay corresponding handling fees. The more installments, the higher the fee;
2 .Because it requires installment repayment, it increases the risk of monthly overdue payments.
Credit card installment repayment is a normal repayment method provided by the card-issuing bank. The cardholder does not have the ability to repay the full amount before the repayment date. Choosing to repay in installments does not count as overdue, nor does it count as overdue. Overdue penalty interest and liquidated damages will be incurred, but will not affect personal creditworthiness.
However, credit card installment repayment will incur certain handling fees, and if frequent installment repayments are made, the bank may feel that the cardholder's financial strength is not strong, which is not conducive to increasing the limit. However, occasional credit card installments may also be beneficial to increasing the limit, and the bank can profit from this.
Credit card installment interest is determined based on the length of the installment. The charging standards for handling fees vary from bank to bank. Generally speaking, the greater the number of installments, the higher the handling fee rate. In addition, some banks will charge a certain handling fee when applying for credit card installments.
Credit card installments can be repaid in advance, but you need to contact customer service in advance to terminate the installment. Cardholders need to be reminded that once the installment application is successful, it is irrevocable. Even if the installment is terminated in advance, the handling fees for the remaining installments will still be charged. Credit card installments are usually divided into 1-36 installments. Applicants can choose freely. The handling fees vary. They can choose the appropriate number of installments according to their personal financial situation.
This concludes the introduction to credit card installment numbers and credit card installment data analysis. Have you found the information you need?