Generally, when the repayment pressure is relatively high, banks will provide cardholders with a variety of credit card installment services to choose from, but this will often lead many cardholders to be confused about the credit card installment amount. Next, let's help you solve the problem of how much is the credit card installment.
First of all, for the credit card limit, the calculation method of available limit is: available limit = credit limit-unsettled spent amount-used and unrecorded accumulated amount.
Among them, "unrecorded amount" refers to the credit card transaction amount that the cardholder has booked but has not returned; "Cumulative used unrecorded amount" refers to the amount of credit card transactions that have occurred but have not been accounted for.
In other words, when the cardholder chooses to apply for installment, the current credit card limit is the actual fixed available limit. After repayment, the fixed amount occupied by the single installment amount will be restored. In this way, it is very simple to know the installment amount of the credit card.
For example, a cardholder, Xiao Li, has an available quota of 3,000 yuan, asks him to use 1 200 yuan to buy a commodity, and chooses installment payment 12 yuan, so the single installment amount is 1 1,000 yuan. After successful application, the available credit card limit will be changed to 1800 yuan; After the first repayment of 100 yuan, the available line will be restored to 1900 yuan, and so on.
It can be seen that the credit card installment amount is completely determined by the current available amount of the cardholder. It should be noted that if the cardholder's current actual credit card limit is insufficient, it is temporarily impossible to conduct installment transactions. In this case, it is recommended that card friends apply for increasing the limit before trying to handle the installment business.
How to calculate the credit card installment quota of China Bank?
The installment amount refers to the amount that the cardholder can use when handling the installment business, and cannot exceed the credit card amount.
The above contents are for your reference. Please refer to the actual business regulations.
How to calculate the credit card limit after installment?
Take China Merchants Bank's credit card as an example: after successfully applying for bill installment business, the cardholder's credit limit will not be restored immediately, but will be gradually restored with the repayment of each installment until the last installment or all installments are paid off in advance.
1. Number of business periods and commission rate of bill installment.
Our bank provides cardholders with personalized choices such as Phase 2, Phase 3, Phase 6, 10, 12, 18, Phase 24 and Phase 36. The single installment fee rate is 0%~ 1.67%. The actual installment fee and the number of applicable installments are subject to the real-time evaluation results of China Merchants Bank Credit Card Center.
2. Calculation and recording time of principal payable in each period
The repayable principal of each installment of the bill is equal to the total installment principal divided by the number of installments. The principal payable in each installment (accurate to the minute) is credited to the cardholder's credit card account every month, and the balance is credited to the last installment. For US dollar bill installment, after the application is successful, the US dollar installment amount will be converted into RMB according to the stipulated exchange rate, and the principal payable for each installment will be credited to the RMB account of the credit card.
Extended data:
1. You cannot apply for bill installment business.
1, cash advance transaction, installment transaction, real estate transaction and various expenses (such as annual fee, interest, late payment fee and other credit card expenses);
2. Funds that have been applied for purchasing foreign exchange;
3. Other transactions designated by the Bank's credit card center.
Second, you can apply for the time of bill installment.
For transactions without bills, the cardholder can apply for installment payment at 19:30 between the transaction date and the billing date of the corresponding bill; For transactions that have been booked, the cardholder can apply for installment between the next day of the current billing date and the due repayment date.