The first period of a credit card is one month. Credit card installment payment refers to the process that the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum when the cardholder uses the credit card to make a large amount of consumption, and then the cardholder repays the money to the bank in installments. According to the cardholder's application, the bank deducts the consumption funds by stages through the cardholder's credit card account, and the cardholder repays according to the monthly amount.

How many installments can a credit card be divided into?

The number of credit card installments mainly depends on the regulations of the issuing bank and the types of installment business handled by customers. However, most bank credit cards mainly have three periods, six periods, nine periods, 12 periods, 18 periods and 24 periods. Some bank credit cards can be divided into two special periods: 10 and 36 periods (please call the customer service of the issuing bank for details, subject to the installment page).

It is enough for customers to choose the appropriate number of installments according to their own needs and repayment ability when staging credit cards. However, it should be noted that the installment fee rate may be different depending on the number of installments selected. Of course, the longer the number of credit card installments, the more installment fees you have to pay.

Customers are advised not to always apply for long-term installment, so as not to make the bank think that the repayment ability is insufficient, which is not conducive to increasing the card amount. Usually, it is enough to choose 3 to 6 periods. If the period is long, 12 is enough, not too long.

The main benefits of credit card installment payment:

1, enjoy first, then pay.

2, no guarantor is needed, and the procedure is simple;

3. Fixed time and easy payment;

4. Payment is optional, and the monthly repayment amount is optional;

5. More space to choose payment methods.

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Can credit card installment be revoked?

After credit card installment, if it is not implemented by the system or within the cancellation time specified by the bank, you can call customer service directly or cancel the installment through online banking.

If the credit card installment has been realized, then the cardholder cannot cancel it. However, you can choose to prepay. It is worth noting that the cardholder must have enough funds to repay in full before he can apply to the bank for early settlement of the installment. In addition, the prepayment installment fee still needs to be paid, but no additional prepayment fee will be charged.

It is worth mentioning that if your credit card repayment date is 13 and you have no money to repay in full, and the payday is 15, then the minimum repayment method is the most cost-effective compared with installment repayment.