How to repay a credit card in installments? How to repay a credit card in installments
1. Cardholders only need to apply to the bank for installment repayment after the statement date. There are many installment options now. , such as cash installment, free installment, etc. Cash installment is mainly the installment application for the withdrawal amount, and free installment is the installment of the bill.
2. Credit card installments can be repaid in advance, but you need to contact customer service in advance to terminate the installment. If you do not apply to terminate the installment, the remaining balance of the installment will not be billed at once, and the card limit will still be occupied. The money you deposit is only equivalent to a deposit.
How to repay a credit card in installments
If you want to pay in installments with a credit card, you can choose to pay in installments when paying, or you can choose to pay in installments when repaying the loan after paying in full. When the user chooses to pay in installments, the number of installments will be set on the payment page, and the user only needs to swipe the card. After paying in full, users can choose bill installment, so that they can repay in installments.
In fact, installment payment and installment repayment are essentially credit card installments, and the effect is that the user repays in installments. The user can choose any installment method.
Credit cards can be repaid in up to 36 installments, and most banks can be repaid in up to 24 installments. After the credit card is installed, you need to pay the installment fee. Although the monthly repayment pressure is reduced, the total repayment amount increases. And frequent installment business is also a sign of the user's poor economic status. In fact, this is not conducive to repayment.
Some users believe that by handling installment business, banks can receive more handling fees and are more willing to increase credit card limits. This understanding is wrong. When a bank raises a user's credit card limit, it mostly refers to the user's credit report, repayment ability, credit card usage, etc.
There are many loan platforms on the market where people can apply to borrow money, and each loan platform has its own characteristics and audience. If we want to count and rank these loan platforms, it is indeed a relatively large project. I spent a few days taking stock of the top ten conscientious loan platforms, which can provide loan amounts up to 500,000 yuan. Let’s take a look!
Du Xiaoman
Du Xiaoman is a small loan product under the original Baidu Finance. It holds a financial license issued by the China Banking and Insurance Regulatory Commission and has private lending qualifications. After users download Xiaoman, they can choose any loan product that suits them and then borrow money. Du Xiaoman’s lowest daily interest rate is 0.02, click to apply online for a maximum of 200,000! The entire process is conducted online and supports borrowing and returning at any time.
How to repay CCB credit card after installment?
If CCB credit card users want to stop the installment and pay off all the debt in advance after installment, there are two ways:
1. Call the customer service hotline 95533 to apply for early termination, but before termination, you need to pay off all the remaining arrears and pay the handling fees for each period.
2. Log in to the China Construction Bank APP, enter the installment credit card, then click "Repay for myself", select all installment bills on the next page, and click "Pay off all". The handling fees incurred in installments also need to be deducted.
Credit Card Features
Pre-deposit of cash is not encouraged, consumption is done first and repayment later, interest-free repayment period is available, and you can repay in installments (with a minimum repayment amount). Join VISA, International credit card organizations such as MasterCard and JCB are used globally.
It is one of the fastest growing financial services today and is an electronic currency that can replace traditional cash circulation to a certain extent.
Has both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using their credit cards.
It is a high-tech product integrating financial business and computer technology.
Can reduce the use of cash currency.
It can provide settlement services to facilitate shopping and consumption and enhance a sense of security.
It can simplify the collection procedures and save social labor.
Can promote product sales and social demand.
Credit card repayment methods
The methods within the card issuing bank include: card issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.
WeiBank POS mobile phone and WeiBank Tong POS mobile phone are a mobile financial system personal payment terminals that can be used to directly repay by swiping cards, as well as perform transfers and other services. Instant payment!
Transfer/remittance repayment is mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.
The more common domestic online platforms for online repayment include: UnionPay Online, Kuaiqian, Shengfutong, Alipay, Tenpay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.
This method of convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. Generally, the payment time takes 2 to 3 working days. At the same time, using this There is no handling fee for repayment.
Counter repayment counter refers to bank cards issued by various networked financial institutions, which can be used to conduct RMB current deposit and withdrawal transactions through the counters of other bank branches registered in the UnionPay exchange center host system.
The "Xinpaytong" smart credit card phone for repayment is an innovative electronic product independently developed by China UnionPay, certified by the Bank Card Testing Center, and supported by financial services provided by China UnionPay's inter-bank information exchange network.
Use "Repayment Tong" to make repayments, and the fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.
Other methods In addition to the methods mentioned above, card issuers have also opened their own unique repayment methods in order to facilitate cardholders' repayment.
How to pay in installments with a credit card
Credit cards can be used to pay in installments.
Generally, the one-year credit card installment fee is lower than the one-year cash withdrawal interest of RMB 18, but higher than the bank's one-year commercial loan interest of RMB 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 the standards for credit card installment payment 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 (month) repayment of 100 yuan, the handling fee is 0.6/month, and the actual monthly deduction is 1001200×0.6=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 12006 (16)^12/((1b)^12-1)=103.94 yuan, which means an extra handling fee of 3.2 per period.
Extended information
Minimum repayment amount for credit card installments:
① Refers to the cardholder repaying all the amount payable before the due payment date (inclusive) If you have difficulty, you can repay according to the minimum repayment amount stipulated by the card issuing bank;
② But you cannot enjoy the interest-free repayment period;
③ The minimum repayment amount is consumption 10 of the amount plus other various payables;
④The minimum repayment amount is listed on the current bill;
⑤The minimum repayment amount = the unpaid consumption within the credit limit 100 of the cash advance transaction amount, 100 of the unpaid portion of the minimum repayment amount in the early period, and 100 of the fees and interest for the consumption amount exceeding the credit limit.