Installment payment means that the credit card has these amounts, pays them in full to the merchant, and then pays them back to the credit card bank in installments every month, but the savings card can't. Credit cards are debit cards, and savings cards are debit cards. Credit cards are equivalent to small consumer loans, and buying apples in installments is the same as buying a house and a car in installments.
Official website Staging Rules for Apple
Installment payment is limited to qualified credit card users of China Merchants Bank, Industrial and Commercial Bank of China and Agricultural Bank of China who purchase products in Apple Store online store, and banks have the right to decide whether to accept such applications.
Before you use the credit card installment service, the bank may require that the available amount of your credit card is greater than the total amount of products purchased. Please contact your bank for details. Apple makes no promises or guarantees about this. If you have any questions about the credit card application of China Merchants Bank, please contact China Merchants Bank directly.
Installment options and interest rates
The maximum order amount is RMB 150000 yuan, and the bank will review and approve it according to your application. You can enjoy the following rates when you purchase and complete the payment now. The specific payment amount is mainly based on bank bills.
Benefits of temporary storage:
(1) Extend the repayment period and allocate the total debt to each month to reduce the repayment pressure.
(2) Congratulations on the bank's income in installments. The bank is more willing to give you the amount as a "return", which means it is helpful for the credit card limit.
(3) Catch up with the preferential activities of the bank to reduce the handling fee by stages, and the time value of the funds can be obtained by exempting the handling fee.
Disadvantages of installment payment
(1) Installment fee generation. It seems that the handling fee to be paid in each period is not high, but according to the actual annual interest rate, it is higher than the general consumer loan interest rate. The higher the number of installments, the more fees will be charged.
(2) The "overlord clause" of most banks wants to repay the loan in advance after the installment, and the handling fee will not be refunded or reduced. That's right.
(3) Not paying in one lump sum will easily make cardholders have the illusion of less debt, and some cardholders with poor self-control are prone to excessive consumption.