There is no interest on installment payment of China Merchants Credit Card, only a handling fee is charged.
China Merchants Bank credit card installment payment has no interest but only charges: first of all, we must understand that if you use China Merchants Bank credit card installment payment without interest, in fact, only the handling fee can be understood as interest. There will be no relevant interest after using the installment business, but this does not mean free. China Merchants Bank pays the handling fee in monthly installments, such as 2000 yuan 12 installments, and the monthly handling fee is 2000 x 0.66% = 13.2 yuan. There are also related installment service fees for specific installments. The specific installment service fee will be averaged to each installment and returned to the bank together with the payment for a single installment. Cardholder's handling fees are: 1%/ month (3 issues), 0.6%/ month (6 issues) and 0.5%/ month (12 issues).
Calculation method of credit card installment fee of China Merchants Bank: installment fee = total installment amount × installment fee rate. The total installment principal is amortized on a monthly basis, and the balance is included in the last installment, and the installment amount and the handling fee for each installment are also recorded. If you don't swipe your card at the designated merchant or go to the credit card mall for consumption, this kind of consumption is bill installment. You can apply for three installments (handling fee 2.6%), six installments (4.2%) or 12 installment (7.2%), and you can pay a single installment within a few months after the first installment.
The bank will provide cardholders with 2 installments (handling fee 1.0%), 3 installments (0.9%), 6 installments (0.75%), 10 installment (0.7%), 12 installment (0.66%) and/kloc-0 installment. At present, the application for non-single transaction only supports 2, 3, 6, 10 and 12. The second phase can only be applied through China Merchants Bank's mobile banking and pocket life channels.
1. Introduction of China Merchants Bank: 1987, China Merchants Bank was established in Shekou, the forefront of China's reform and opening up. It is the first joint-stock commercial bank wholly owned by an enterprise legal person in China and the first pilot bank promoted by the state from outside the system. Now it has developed into a listed company in Shanghai and Hong Kong, with commercial banking, financial leasing, fund management, life insurance, overseas investment banking and other businesses.
How to calculate the installment interest of China Merchants Bank's credit card
China Merchants Bank credit card installment repayment interest needs to determine the specific interest rate according to the number of installments. Under normal circumstances, you can choose to divide the bill into three installments, six installments and 12 installments, with no interest, and the handling fee rates are 0.26%, 0.42% and 0.72% respectively.
You have paid 4000 yuan in installments. If you apply for installment repayment before the repayment date of the current month, you can avoid interest, but there is still a certain handling fee. If it is divided into 12 installments, the monthly repayment will be 333.3340000.72%=362. 13 yuan.
Calculation method of installment payment fee for credit card bill of China Merchants Bank
1. If you don't swipe your card at the designated merchant or go to the credit card mall for consumption, this kind of consumption is bill installment. The application is divided into three periods, six periods or 12 periods, and the corresponding handling fee is 2.6%, 4.2% or 7.2%.
2. After the first installment, you can pay a single installment for several months. In this behavior, the cardholder provides personalized choices such as two periods, three periods, six periods, 10, 12, 18 and 24 periods, and the corresponding handling fees for each period are 1.0%, 0.9%, 0.75% and 0.7% respectively.
3. At present, only two issues, three issues, six issues, 10 and 12 are provided for transactions without bills. The second phase can only be applied through China Merchants Bank's mobile banking and pocket life channels.
4. Handling fee per installment = total installment amount × handling fee rate per installment. The total installment principal is amortized monthly, and the balance is included in the last installment. At the same time, the installment amount and the handling fee of each period are recorded.
Credit card installment payment refers to the process that when the cardholder uses the credit card to make a large amount of consumption, the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments and pays the handling fee. According to the cardholder's application, the bank deducts the consumption funds and handling fees by stages through the cardholder's credit card account, and the cardholder repays according to the monthly recorded amount.
In the early days of credit card installment business, banks often advertised under the banner of "interest-free", and many citizens were really fooled. In fact, interest-free is not free, just a different name.
superiority
The main benefits of credit card installment payment:
Enjoy first, then pay.
Without a guarantor, the procedure is simple.
Fixed time and easy payment.
Free of payment and monthly repayment.
More room to choose payment methods.
Service type
From the form of installment payment, there is a limit on the initial amount of a single transaction for cardholders to handle this business, and the level of installment repayment and the standard of handling fee are also different; It can be roughly divided into three categories:
The first category is the cooperation between banks and special merchants, but the product types are limited;
The second category is the catalogue of the bank, which is purchased by the cardholder, and then the bank entrusts the supplier to deliver the goods to the customer;
The third category is not limited to merchants and commodities. Cardholders can apply for installment repayment from banks after shopping, and some banks even set the acceptance scope to the whole world.
How to calculate the installment interest of China Merchants Bank credit card?
Calculation formula of credit card installment fee:
Handling fee = installment interest rate of installment principal.
For example, the credit card is divided into 12 installments of 3000 yuan, the handling fee rate is 0.72%, and the handling fee for each installment is 3000/120.72% 3000/12.
Credit card bill installment application requirements:
1. Time to apply for installment bills
From the trading day to the repayment date, you can freely choose the installment transaction under RMB or USD account.
For unbilled transactions: you can apply for installment payment between the transaction date of 19:30 and the billing date of the bill corresponding to the transaction.
For bills that have been issued, you can apply for installment from the day after the billing date to the due repayment date (for customers with automatic repayment in the account, the deadline for application is due repayment date 17:00).
2. Conditions for applying for installment bills
The applicant must hold a personal card with a bank credit card, have a good record of using the card and have no delay in repayment in the current period. Customers who only hold business cards, business cards, purchasing cards, ANA protection cards or supplementary cards cannot apply for bill installment for the time being.
3. Bill installment application amount
For the installment payment of RMB bills, the minimum application amount shall not be less than 300 yuan RMB each time; For the installment payment of USD bills, the minimum application amount shall not be less than USD 65,438+000 each time. After the installment of RMB or USD bill is successful, the principal and handling fee of each installment will be credited to RMB account, that is, the installment amount of USD bill will be converted into RMB at the exchange rate specified at the time of application.
This concludes the introduction of how to calculate the credit card installment and whether the credit card installment counts as the number of swipes. I wonder if you have found the information you need?