There are many reasons why credit cards cannot be repaid in installments.

1 It may be that the user’s credit card bill consumption amount does not meet the minimum credit card installment payment standard. For example, the minimum credit card installment payment amount must not be less than 2,000 yuan. If the credit card bill is lower than this amount, It is not possible to apply for installment. 2. You cannot apply for installment repayment for the bill amount that has already been applied for installment and minimum repayment.

3 The composition of the credit card bill also determines whether the installment repayment business can be applied for. Generally, annual fees and recurring interest cannot be repaid in installments. Only normal consumption of credit cards can apply for installment repayment.

4. If some merchants do not support credit card installment repayment, then the bills consumed at that merchant cannot be repaid in installments.

Under normal circumstances, in order to avoid the occurrence of overdue credit cards when the credit card cannot be used for installment, it is recommended that the cardholder can directly repay the credit card bill in full, which can also save part of the interest. or handling fees. If you are really unable to repay in full, you can also try to apply for a minimum repayment.

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1. Why you must not pay in installments if you owe credit card bills:

For credit card bill arrears, if you choose to apply for installments, in addition to repaying the principal, In addition, you also need to pay a certain installment fee. Therefore, although installment repayment can alleviate the repayment pressure, it will require more repayment than if you pay off the loan in full before the repayment date (inclusive). Therefore, if you don’t want to pay back more, don’t choose installment.

However, if you don’t mind paying some handling fees, but you can’t guarantee that you can pay it off before the due repayment date (inclusive), you can choose to apply for installment. Of course, in addition to installment repayment, you can also choose the minimum repayment. However, after the minimum repayment, you will not be able to enjoy the interest-free period, and recurring interest will accrue, which will be calculated and collected at an interest rate of 0.05% every day until the minimum repayment is maintained. Compound interest will be accrued on a monthly basis until the cardholder pays off all the funds.

Everyone also needs to note that after choosing installment, although the installment part will only start to be repaid from the next month, because the bills generally cannot be all installments, there will still be a part that has not been installmentd, and this The uninstalled portion still needs to be repaid before the repayment date of the month (inclusive).