Which bank is more cost-effective for credit card installment payment?

Nowadays, when many people purchase high-priced goods, they prefer installment payment to paying in full, which can alleviate a lot of their own financial problems. You can still buy what you want without the burden. Faced with the different installment regulations of various banks, how should you choose to reduce more interest and handling fees on your installment payment journey?

Convenient and practical

Industrial and Commercial Bank of China, China Everbright Bank

ICBC Peony Credit Card Series: The ICBC Peony Credit Card Series will cover all consumption before the monthly statement is issued. Can be divided into installments. Taking 12 installments as an example, the handling fee is . In addition, the handling fee is charged in one go, and the early repayment handling fee is not refundable. Based on the performance of ICBC credit cards and daily feedback from cardholders, ICBC credit cards are convenient and practical. The biggest advantage is that all transactions during the interest-free period can be repaid in installments, and the handling fee is also relatively reasonable.

China Everbright Bank Credit Card Series: According to the staff of Everbright Bank Credit Card Center, China Everbright Bank’s bill installment business can apply for installments based on the “consumption amount shown on the current bill”; it can also be applied for “single consumption on the next bill” "Amount" to apply for installment. The bill installment business handling fee is equal to the total installment amount multiplied by the installment handling rate, and is charged once in the current installment period. After paying a certain installment fee, the cardholder can repay the unpaid portion of the consumption transaction amount of the RMB bill issued in equal installments according to the number of installments applied for (3, 6, 9, or 12 installments). Compared with other banks, China Everbright Bank’s 12-month handling fee is 7%, which is relatively low. In comprehensive comparison, China Everbright Bank Credit Card is more flexible and has lower fees in terms of bill installments and handling fees.

Promotion and Affordable Type

China Merchants Bank, China CITIC Bank

China Merchants Bank Credit Card: The biggest feature of China Merchants Bank Credit Card is that the threshold for applying for a card is low, the card design is novel, There is a lot of card swiping activity. These advantages are very consistent with young people's requirements for credit cards, so more young people use China Merchants Bank credit cards. Through investigation, we learned that China Merchants Bank's credit card bills can be divided into installments after the bill is issued. The handling fee for 12 installments is a one-time charge for the first month. If the payment is made in advance, the handling fee will not be refunded.

CITIC Bank Credit Card: Like China Merchants Bank Credit Card, CITIC Bank also has a relatively low threshold for applying for a card, and it often offers points for payment in installments. According to information on the official website of CITIC Bank, CITIC Bank credit card holders can apply for bill installments, and the number of installments they apply for is 3, 6, 9, 12, 18, and 24 installments. The standard handling fee is, taking 12 periods as an example, the handling fee for 12 periods is slightly higher than that of other banks.

Is credit card installment good to use? Which bank card has the lowest installment interest?

The interest rates are almost the same. The longer the installment, the higher the interest rate. Installment is also very convenient, especially when funds are tight. Installment can relieve immediate pressure and extend the repayment time.

Generally, the fees of the four major banks, ICBC, Agricultural Bank of China, China Construction Bank and China Construction Bank, are similar. Among them, if it is divided into 3 installments, ICBC is the lowest; if divided into 6 or 12 installments, the four major banks are the same, each installment is 0.6 %; for the 18th or 24th period, the ABC is 0.6% for each period.

The installment fees of large joint-stock commercial banks such as China Merchants Bank, Shanghai Pudong Development Bank and Minsheng Bank are relatively high. If you repay the loan on time after applying for installment, no interest will accrue, only a handling fee will be charged.

Extended information:

Agricultural Bank of China's installment business:

Instalment payment handling fee: The maximum is not more than 1.2% of the installment amount and the number of installments.

Extension handling fee: no more than 200 yuan or equivalent.

The annualized handling rate for installment business conversion is: 0%-16.04% (the above rate is the annualized internal rate of return calculated based on the cardholder’s cash flow. Due to the interval between the installment product chosen and the billing date , the actual number of days per month, early repayment, cooperative merchants, etc. vary depending on the situation)

Agricultural Bank of China - Charging Standards

Which bank has the lowest credit card installment fee?

ICBC’s installment fee rate is the lowest. The installment fee rates for ICBC credit cards are 0.5%, 0.4%, 0.4%, 0.35%, etc. The installment fee rates for Agricultural Bank of China credit cards are all the same, which is 0.6%.

The installment fee rates for Bank of Communications credit cards are 0.93% for 3 installments, 0.8% for 6 installments, and 0.72% for the remaining installments. The installment fee rates for China Construction Bank credit cards are 0.75% for 3rd period, 0.7% for 6th period, 0.6% for 12th and 18th periods, and 0.62% for 24th period.

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.

According to different card issuers, they can be divided into bank cards and non-bank cards

Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

Non-bank card.

This type of card can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., and are used for purchasing tickets, meals, accommodation, entertainment, etc.

According to the different objects of issuance, it can be divided into corporate cards and personal cards

Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal organizations.

Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.

According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards

Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.

Gold Card.

The gold card is a high-end credit card that pays high membership fees and enjoys special benefits. Cards are issued to those with higher credit standing, stronger repayment ability and credit, or those with a certain social status. The authorization limit of the gold card starts from a higher level, and the additional service items and scope are much wider, so the requirements for relevant service fees and security deposits are also relatively high.

Which bank has the lowest credit card installment fee?

Industrial and Commercial Bank of China has the lowest credit card installment fee, followed by Agricultural Bank of China, and China Merchants Bank has a greater advantage for users with good credit conditions. .

As we all know, the credit card installment fees of major banks are different. If you have a large demand for credit card installment repayment, it is recommended to choose a bank credit card with low installment fees. So, let’s take a look at which bank below has the lowest credit card installment fee:

1. Industrial and Commercial Bank of China

The credit card installment fee standard: 0.55% for 3 installments; 0.6% for 6 installments; 0.6% in the 9th period; 0.6% in the 12th period; 0.65% in the 18th period; 0.65% in the 24th period.

2. Agricultural Bank of China

The credit card installment fee processing standards are: 3 periods, 6 periods, 9 periods, 12 periods and 24 periods, and the rate for each period is 0.6%.

3. China Merchants Bank

The single-period handling rate is 0%-1.67%. The specific installment rate is subject to the real-time evaluation results of the bank's credit card center.

4. CITIC Bank

Credit card installment fee standard: 1.5% for 1st period; 0.8% for 3rd and 6th period; 0.76% for 9th period; 0.73% for 12th period; 18th period , 0.75% in 36 periods.

There are two main differences in the handling fees of major banks. In the way of collecting handling fees, most banks collect them in installments and once a month, while ICBC, China Construction Bank, Bank of Beijing, and China Everbright Bank charge them in installments. It is a one-time charge. What is special is that Industrial Bank can use both methods, but the one-time fee is slightly lower than the one-time fee charged in installments.

The handling fee rates of major banks vary greatly. The longer the credit card installment number of most banks, the higher the handling fee rate, such as ICBC, Bank of China, China Merchants Bank, China Guangfa Bank, China Everbright Bank, etc. ; Some banks' service fee rates are the same in each period. For example, Bank of Communications' service fee rate is 0.72% in each period, Agricultural Bank of China's monthly fee rate is 0.6%, and Postal Savings Bank's monthly fee rate is 0.6%; a few banks charge in installments. The longer the number, the lower the handling fee rate, such as Shanghai Pudong Development Bank, Hua Xia Bank, HSBC, etc.

ICBC’s installment fee is relatively low, about 1.5 times lower than the relatively high Standard Chartered Bank, and about 1.46 times lower than China Everbright Bank. However, ICBC’s application threshold is high, and not everyone can apply. Get;

The second is Changsha Bank. The installment fee of Changsha Bank is also relatively low. As a local bank, its application threshold is higher than that of the state-owned bank ICBC, so it is also a relatively good choice;

Construction Bank among the state-owned banks has lower installment fees, and its application threshold is relatively low among state-owned banks, making it relatively cost-effective.

Which credit card has the lowest installment fee?

For all card friends, of course they all want to get their favorite credit card quickly, but the most troublesome part of applying for a credit card is The thing is rejection, which affects both efficiency and mood. So there are so many types of credit cards from major banks, how should we choose? Which credit cards are easy to apply for?

1. CITIC Bank Taobao Card can greatly improve the efficiency and success rate of card approval by the card issuer when checking customers' credit by binding the customer's Taobao account. CITIC Bank's credit card approval speed has always had a good reputation among cardholders. According to tests, when applying for a credit card online from CITIC Bank, you will usually receive an SMS message from the bank within 24 hours. The efficiency is quite impressive! Apply for CITIC Taobao Card online now and get an instant discount of 30 yuan on your first quick payment. Don’t miss this offer!

2. GF True Love Card is the first credit card exclusively for women in China, with a transparent card design, advocating the female life philosophy of "independence, calmness, intelligence, and frankness", and has a three-fold points plan for merchants of your choice, Functional services such as optional insurance plans, as well as discounts from many merchants, provide women with more personalized choices and more considerate services. More importantly, applying for this card is simple and quick. As long as you provide proof of stable income and personal information, there is no obstacle to applying for this card.

3. Guangfa Car Owner Card is specially customized for private car owners. Provide a full range of discounts and services for car owners and their cars. Enjoy 100 kilometers of free roadside assistance nationwide, 5x points or 1% cash rebate for refueling with your card, optional high-value insurance protection, and many other features and discounts. Naturally, the application for the Guangfa Car Owner Card has reduced a lot of trouble for many car enthusiasts. When applying for the Guangfa Car Owner Card, users only need to provide the driving license of their car to greatly increase the success rate of applying for a credit card!

4. New users of China Merchants Bank’s QQ co-branded credit card will receive a free American Traveler fashion backpack of RMB 388 with a full credit card payment. New card customers only need to make three credit card purchases within two months, with each payment exceeding RMB 188. Receive a free American Traveler fashion backpack worth 388 yuan. The first cash withdrawal of each month is free of charge.

5. The best card to apply for is the China Merchants Young Card. This card is one of the most popular among young people. White-collar workers who have just graduated can apply, and college students over 18 years old with a formal internship contract can also apply. If the cash withdrawal limit of up to 100% of the credit limit is not enough, then the first cash withdrawal in every calendar month is free of charge!

6. Ping An Bank’s credit cards are very down-to-earth, such as car owners’ cards for car owners, standard cards for supermarket shopping, platinum cards for airport discounts, and green channels to go directly to movie theaters. Card promotions cover food, fitness, entertainment, shopping, etc. The most popular and easiest credit card to apply for.

Which bank is the most cost-effective for credit card installment car purchases? Don’t miss these banks

With the popularity of private cars now, the number of car owners has gradually expanded. When buying a car, many people are often unable to pay it off in one lump sum due to financial reasons. They all choose to go to the bank to apply for credit card installment car purchase business. So, which bank is the most cost-effective for credit card installment car purchases? Today I will introduce to you which banks you can choose to apply for a credit card installment purchase of a car.

1. Industrial and Commercial Bank of China

Industrial and Commercial Bank of China has always been the leader in the banking industry and the first choice for many people to handle banking services.

For example, if you want to buy a car by installment with a credit card, the ICBC credit card car purchase installment limit is as high as 1.5 million, while the car purchase installment limit of China Construction Bank and China Merchants Bank is only about 500,000 or 700,000. So if you want to buy a good car, then go to ICBC. It's worth it, and ICBC's handling fees are also very favorable.

2. Agricultural Bank of China

Many people say that if you want to apply for credit card car purchase installments, then you have to mention Agricultural Bank of China. This is mainly because the Agricultural Bank of China credit card installment car purchase has zero interest and ultra-low handling fees, which is very affordable. You should know that the processing fee for installment car purchase with Agricultural Bank of China's credit card is the lowest among all banks' credit card installment car purchases.

For example, Agricultural Bank of China's 12th, 24th and 36th installment car purchase installment handling rates are only, and this is much lower than the handling rates of China Merchants Bank's 12th, 24th and 36th installments. So if you don’t want to have too much financial burden, you can choose Agricultural Bank of China.

3. Bank of China

Bank of China is the same as Agricultural Bank of China. The advantage of their car purchase installments is that their credit card installment car purchase fees are very low, ranking first among banks. , two-digit.

For example, if you want to buy a car costing 300,000. Then it is divided into 36 installments. If you use a credit card to buy in installments at Bank of China, the three-year handling fee will be 31,500 yuan. If you go to China Merchants Bank to use a credit card to buy in installments, the three-year handling fee will be 43,500 yuan. The handling fee That's a total of 12,000 yuan more. , so it is quite cost-effective to apply for car purchase installment at Bank of China.

The three banks mentioned above are the first choices for people to apply for credit card installment purchases of cars. The reason why installment car purchases using credit cards from Agricultural Bank of China, Bank of China, and Industrial and Commercial Bank of China is cost-effective is because the car installment service rates of these three banks are quite low and will not cause too much pressure on people. So if you attach great importance to handling fees, you can apply for the credit card installment car purchase business of these three banks.

This ends the introduction about which bank has the best credit card installment rates and which bank has the lowest and most cost-effective credit card installment interest rates. Have you found the information you need?