You can use credit card to pay for things in installments. This means that if you don’t have enough cash or bank savings and you have a credit card, you can first borrow money from the bank to pay for the product, and then you can pay for the product through Bank repayment (repayment of credit card) means paying the principal and interest of the loan monthly until it is paid off, in order to reduce the financial pressure caused by paying a large amount of cash in one go.

1. Credit card installment payment: 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 The process of repayment by cardholders to the bank in installments. The bank will deduct the consumption funds in installments from the cardholder's credit card account based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

2. Generally speaking, the one-year credit card installment fee is lower than the one-year 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 several times since last year, but the standards for credit card installment fees and cash withdrawal interest have rarely changed.

Although each bank's credit card installment fee standards are different, the calculation method is roughly the same.

3. The main benefits of credit card installment payment:

Enjoy it first, pay later.

No guarantor required and the procedure is simple.

Timed and fixed amount, easy payment.

Pay as you please with any monthly repayment amount

More space to choose payment methods.