After the installment of Minsheng Tongbao Card ends

The limit of Minsheng Tongbao Card will be restored after the installment ends. Minsheng Tongbao Card is an installment credit card issued by Minsheng Bank. After the user applies for installment at the invitation of Minsheng Bank, the card will be temporarily suspended during the installment process, and the credit limit will be restored after the payment is completed.

Can Minsheng Credit Card be repaid in one lump sum after installment?

Minsheng Credit Card can be repaid in one lump sum after installment, but it cannot be canceled after installment. You can only apply to the bank for early repayment. You cannot apply online. You can only call the bank service hotline to transfer manual customer service. The customer service system will accept the payment before repayment.

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder, and then allows the cardholder to pay in installments The process of repaying money to the bank and paying handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

In the early days of the credit card installment business, banks often promoted it as "interest-free", and indeed many citizens were "fooled". In fact, interest-free is not free, it’s just called something different.

In general, the one-year credit card installment fee is lower than the annual cash withdrawal interest of 18% and higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that commercial bank loan interest rates have been reduced many times in recent years, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment fees vary from bank to bank, the calculation method is roughly the same.

Assume that the installment amount is 1,200 yuan, divided into 12 installments, with each installment (monthly) repayment of 100 yuan, the handling fee is 0.6%/month, and the actual monthly deduction is 101200×0.6%=107.2 Yuan. If other factors are not considered, the convertible nominal annual interest rate is 7.2%. However, the cardholder does not always owe the bank 1,200 yuan. In the last month, he actually only owed the bank 100 yuan, but the bank still charged a handling fee of 1,200 yuan. .

According to calculations, the true annual interest rate paid by cardholders is approximately 15.48%. According to the correct calculation formula, it should be 12000.6% (1+0.6%)^12/((1+0.6%)^12-1)=103.94 yuan, which means an extra 3.2% handling fee per period.

From the perspective of the form of installment payment, when cardholders handle this business, the starting amount of a single transaction is limited, and the installment repayment grades and handling fee standards are also different; it can be roughly divided into three types. Category:

1. The bank cooperates with special merchants, but the product types are limited;

2. The bank offers a catalog, where the cardholder purchases the product in the catalog, and the bank then Entrust the supplier to deliver the goods to the customer;

3. There are no restrictions on merchants and goods. After the cardholder purchases, he or she can apply for installment repayment from the bank. Some banks even set the scope of acceptance to be global. .

After the Minsheng Bank credit card installment, the repayment exceeds the installment amount, why is the limit not displayed?

The credit card has been overused, and the installment limit is not displayed. Reasons:

1.

The credit card consumption amount does not reach the installment limit: However, if the credit card consumption amount is too large, the bank may reject the credit card installment application, so you must understand the credit card installment limit when applying for installment.

2.

If the credit card installment amount exceeds 90% of the monthly bill amount, you will not be able to apply for credit card installment.

3.

Credit card installments cannot be applied for some types of consumption such as annual fees and gold sales.

4.

Credit cards that cannot be installed in installments cannot be applied for credit card installments.

How to repay Minsheng credit card bills after installments

Many cardholders have applied for Minsheng credit card bill installments, but they don’t know how to repay them after the installments. In fact, this problem is quite simple. After the installment is successful, you only need to repay the installment amount in the current period, and then repay the installment amount every month starting from the next month. Let’s learn about it together.

Cardholders can apply for bill installment business through Minsheng Bank’s credit card online banking, mobile banking, customer service hotline, WeChat and other channels. The installment amount can be up to 90% of the total new RMB card consumption in the current period.

After the installment is successful, the cardholder only needs to repay the remaining bill amount after deducting the installment amount when it is due. After that, the principal repayable for each installment of the bill installment = the total principal amount of the installment ÷ the number of installments. The principal repayable for each installment (accurate to the minute) will be credited to the cardholder's credit card account month by month, and the remainder will be credited to the last installment.

In other words, there are two ways to repay the loan after the installment is successful.

1. Monthly repayment in installments:

In the current period, you only need to repay the remaining bill amount after deducting the bill installment amount, which is 10% of the bill amount. If this period The bill amount is 1,000 yuan, so you only need to pay back 100 yuan.

2. Monthly repayment in installments: principal payable in each installment + installment handling fee

You can repay in advance after applying for installment, but you need to pay attention to these matters:

p>

First, once the bill installment is applied for, it is irrevocable. If you need to terminate the installment early, you need to call the customer service number and apply for early termination. The arrears and handling fees for the remaining installments will be settled in one lump sum on the next bill date. The cardholder needs to repay;

Second, it should be reminded that the installment fee is non-refundable. Even if the installment is terminated in advance, the fee will still be charged.

If you want to repay in advance, you need to call the customer service hotline to apply for early termination of the installment. After the application is successful, the unaccounted installment principal and handling fee will be credited to your account at one time, and you need to repay the loan when it is due. clear. Unless there are special needs, there is no need to terminate the installment in advance, because if you terminate it early, the installment handling fee will still be charged.

This is the end of the introduction about whether Minsheng Credit Card has paid the minimum and still needs to be repaid after installment. I wonder if you have found the information you need?