Simply put, the minimum repayment amount of a credit card means that the cardholder can choose a lower repayment amount, but he needs to pay a certain amount of interest. Although repayment according to the minimum repayment amount can temporarily alleviate the financial pressure of cardholders, it can also avoid overdue records of credit cards. However, if the minimum repayment amount is chosen, all expenses in the bill will be charged with interest of 0.5 ‰ per day from the date of swiping the card, which is equivalent to the annual interest rate exceeding 16%. Therefore, I suggest that the majority of cardholders try to choose full repayment to avoid unnecessary economic losses.

Credit card installment repayment is interest-free, but there is a handling fee. The handling fee rates of different banks vary greatly. Most banks charge fees for installment payment according to the length of the term, such as 3, 6, 12, etc. The longer the general term, the higher the handling fee standard. There are two ways to charge the bank. One is to charge an average monthly fee. The other is a one-time charge when paying the down payment.

In fact, there is no exact definition of which of the two credit card repayment methods is better and which is worse. For large debts that cannot be paid off in one lump sum for a long time, the cost of installment repayment is relatively low to prevent interest from rolling. However, if the amount is low, the consumption accounting date is close to the final repayment date and the repayment can be made in a short time, it is more cost-effective to choose the minimum repayment amount.

Of course, you can also repay through a reliable credit card repayment third-party service platform: there are many credit card loan software, such as using the repayment APP, which can solve the problem. After applying for bill installment, you can postpone repayment for one month, and the interest is still personalized.