double 11 and Double 12 have finally finished, and the credit card bill will come out soon. Can you still afford the credit card bill for China Merchants Bank No.15 and Guangfa No.8?

If you can't afford it, the credit card will tell you very sweetly. It doesn't matter if you can't afford it. You can pay the bill in installments, or pay the minimum repayment amount, or you don't have enough money. It's ok to withdraw cash!

which is more cost-effective, bill installment or minimum repayment?

installment of bills is supported by general credit cards. You can choose installment before and after the bills come out. Take China Merchants Bank credit card as an example. When the bills are not paid out, you can choose up to 2 transactions for installment. The installment rates are: 1.% for the second installment, .9% for the third installment, .75% for the sixth installment, .7% for the tenth installment and .66% for the twelfth installment. The installment rates are consistent after the bills come out. Handling fee per installment = total installment amount × handling fee rate per installment. The total amount of installment principal is amortized on a monthly basis, and the remainder is included in the last installment. The installment amount of each period and the handling fee of each period are recorded at the same time.

if it is the minimum repayment, the minimum repayment amount = 1% cash advance principal+1% non-cash advance transaction principal +1% expenses+1% interest +1% excess consumption+1% unpaid minimum repayment amount in the previous period+1% installment amount. Generally, the bank will tell you the minimum repayment amount after the bill comes out. After the minimum repayment amount is paid, you can't enjoy the interest-free treatment. Interest will be calculated from the bookkeeping date, and it will generate cyclic interest. The interest is fifteen thousand yuan, generally speaking, it is calculated in full until it is paid off.

so, do I choose to repay by installment or minimum repayment?

I suggest that if you owe less, you can choose the lowest repayment in a short time, which is convenient. If the amount owed is large and it is not paid in a short time, it is cost-effective to choose installment repayment.

what is the cash installment?

many people will confuse bill installment with cash installment. The essence of cash installment is micro-loan, which can be applied in major credit card apps. For example, China Merchants Bank credit card cash installment can choose .95% for the third installment, .8% for the sixth installment, and .75% for the tenth, 12th, 18th and 24th installment.