Calculation method of credit card installment payment handling fee:

The calculation method of installment handling fee is: transaction amount × monthly rate × number of installments. The handling fee may also be charged once in the first installment. It may be charged monthly, but the amount is the same. And as the repayment amount increases, the money owed to the bank decreases, but the handling fee will not decrease with the repayment progress, which is different from the interest calculation method of bank loans.

Compared with the one-year loan benchmark interest rate of 6.31%, some cardholders think that the annualized installment fee of 6% is not high, but after careful calculation, it is actually The handling fee paid is much higher than the loan interest for the same period. Taking a consumption of 6,000 yuan and paying in one-year installments as an example, the required payment fee is: 6,000×6%=360 yuan. According to the bank's one-year benchmark interest rate, the equal principal method is used to repay monthly. The total interest paid on the loan in one year is: 6000×6.31%/12×13/2=205.075 yuan, which is far lower than the 360 ??yuan handling fee for installment through credit card. This shows that when the one-year consumer loan interest rate is greater than 11.08%, installment payment is the most cost-effective.