As the concept of early consumption becomes more and more popular, credit card consumption is becoming more and more common. In order to reduce the repayment pressure of credit card users, major banks have launched credit card installment payments. However, with so many banks, which bank's credit card should you choose? Which bank's credit card installment fee is relatively low? These are all This is an issue that cardholders consider more when choosing installment payment. Here is a detailed analysis of the differences in the credit card installment fees of major banks in 2017. There are two main differences in the handling fees of major banks. The handling fees are collected in installments by most banks, once a month, while ICBC, China Construction Bank, Bank of Beijing, and China Everbright Bank charge them all at once. What is special is that Industrial Bank can use both methods, but the one-time fee is slightly lower than the one-time fee charged in installments. The handling fee rates of major banks vary greatly. The longer the credit card installment number of most banks, the higher the handling fee rate, such as ICBC, Bank of China, China Merchants Bank, China Guangfa Bank, China Everbright Bank, etc.; some banks have higher handling fee rates. Each installment is the same. For example, the handling fee rate of Bank of Communications is 0.72% for each installment, the Agricultural Bank of China is 0.6% per month, and the Postal Savings Bank of China is 0.6% per month. For a few banks, the longer the installment number, the higher the handling fee. The lower the rate, such as Shanghai Pudong Development Bank, Hua Xia Bank, HSBC, etc. Details of the installment fee rates of major banks in 2017 are shown in Table 1.

Extended reading: Comparison of video co-branded credit cards of major banks: Tencent, iQiyi, Youku Table 1 Summary of installment fee rates of major banks in 2017 2 Installment fee rates of major banks in 2017 Summary example: Suppose Xiao Ming bought a mobile phone for 5,000 yuan. As a student with no fixed source of income, Xiao Ming cannot pay 5,000 yuan in one go, so he wants to choose to pay in installments with a credit card, but the question is, how many installments should he pay back? Where is the money? Which bank should you choose with the lowest installment fee? Tables 3 and 4 below show the handling fees that Xiao Ming needs to pay when he chooses different installments from each bank. Table 3 Comparison of installment fees of major banks Table 4 Comparison of installment fees of major banks Figure 1 Comparison of installment fees of major banks (12 installments) If Xiao Ming chooses to pay in 12 installments, as shown in Figure 1, ICBC’s installment fees are relatively It is relatively low. Xiao Ming only needs to pay a handling fee of 180 yuan, which is about 1.5 times lower than the relatively high Standard Chartered Bank (450 yuan) and about 1.46 times lower than China Everbright Bank (442.5 yuan). However, the ICBC application threshold is high, and not all Anyone can apply; followed by Changsha Bank. The installment fee of Changsha Bank is also relatively low, 240 yuan. As a local bank, its application threshold is higher than that of the state-owned bank ICBC, so it is also a relatively good choice; state-owned bank For China Construction Bank, the installment fee is 270 yuan, and its application threshold is relatively low among state-owned banks, and it is relatively cost-effective; as a joint-stock bank, Shanghai Pudong Development Bank has an installment fee (297 yuan) compared with ICBC and CCB. It is high, but due to its low application threshold and good services, it has become a bank that cardholders choose more when making installment payments.

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Comparison of installment fees of various banks in 2018