How long does it take to apply for credit card installment?
Generally, many banks can provide two credit card installments, one is to distinguish between consumption and the other is to pay bills in installments, and the processing time is different.
1. Consumption installment refers to the simultaneous installment during the transaction, directly deducting the transaction amount from the credit card limit, and repaying the first installment after the bill comes out. This kind of installment does not need to be applied in advance, as long as the merchant can provide installment payment service, it can be applied at any time.
2. The bill installment is actually to divide the eligible transaction amount in the current bill amount into several installments after the bill comes out. After the installment, the amount not installment in the current period will be returned to the first installment after the next bill comes out. This installment payment has a time limit. Generally, you need to apply from the billing date to the repayment date, and it is best to apply one day in advance at the latest.
In addition to defining the staging time, there are some matters needing attention.
1, installment amount: consumption installment is full installment; The maximum amount of bill installment is generally about 95% of the installment amount;
2. Staging category: various fees charged by the bank according to regulations, such as annual fee, cash advance transaction fee, interest, late payment fee, over-limit fee, etc. Credit card withdrawal, temporary limit, etc. Installment payment is not supported.
3. Repayment method: you can repay monthly or in advance, but many prepayment will not reduce the remaining undistributed handling fees, which is not very cost-effective.