The credit card is divided into several installments, and the deduction will be made in batches according to the number of installments 1 1,000 yuan. Repayment can choose to repay the loan on schedule, so as not to affect the later life because of overdue. When the repayment time comes, he can choose to pay back the money on time or directly input some money to choose automatic repayment.

One. Is the credit card installment interest high?

1. Actual interest rate of equal principal and interest repayment method.

For example, when the credit card bill 1 000 yuan and the monthly interest rate is 0.6%, the annual interest rate is 0.6% * 12 = 7.2%, which looks quite cheap. If it is divided into 12 installments, the monthly principal is 833 yuan, and the interest is 60 yuan. The monthly principal plus interest is only 893 yuan, which seems not much.

However, many people ignore one thing. The monthly interest paid by the equal principal and interest repayment method is fixed, and the monthly principal decreases. For example, the principal of the first month is 10000, and the principal of the second month is 10000-833=9 167. By analogy, by the end of1February, the principal is 833 yuan, and the interest is still 60 yuan.

Second, try not to prepay by credit card.

Credit cards can be repaid in advance at the counter, online banking or self-service equipment. If you want to repay the loan in advance, put the money into your credit card. On the repayment date, the credit card will automatically deduct the money. But credit card prepayment is not recommended. Because the credit card has an interest-free period, there is no need to pay interest on the overdraft amount when the credit card is repaid during the interest-free period (that is, before the repayment date). During this time, you can make a profit from financial management, which is much more cost-effective than prepayment. I hope this answer is helpful to you. This answer is provided by Hua Fu, a credit service brand owned by Du Xiaoman Finance (formerly Baidu Finance). Reliable interest rate is low, and the amount can be calculated immediately by clicking the following. The maximum loan amount is 200,000 yuan.

As can be seen from the above, credit cards should not be repaid in installments as far as possible to prevent paying more interest during the interest-free period, so it is ok to repay on the repayment date. You can deposit the returned money in the bank to collect interest, or make profits by other means.