How to repay in installments with a credit card
When you are under pressure to repay funds, choosing to repay in installments with a credit card can relieve your financial pressure and will not affect your personal credit report. Condition.
The common ways to choose credit card installment repayment are as follows, you can choose according to your own needs:
1. Telephone application method. Nowadays, many customer service staff of banks will call to ask whether they need to apply for credit card installments before the repayment date. You can choose from 3 months, 6 months, or 12 months according to your repayment ability. At the same time, you can also take the initiative to apply by phone or edit a text message to the credit card SMS platform to apply;
2. Log in to the bank's official website, enter the credit card center, apply for the credit card installment repayment business, and click on the amount you need to apply for the installment. Just confirm the repayment cycle;
3. Follow the credit card official account, enter the credit card installment in the query column, and the content of the installment business will pop up, and you can make the corresponding selection according to your own needs. Just go through it;
4. Go to the bank counter to handle it. If you have any questions, you can directly consult the bank counter staff for face-to-face communication.
Nowadays, credit card installment business is a regular service launched by various banks. You can handle the business according to your actual needs.
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How to repay the bill after installment and how to repay the credit card in installments
1 . Each credit card has a billing date. On the billing day, the bill will be issued. It will contain the amount you should repay in the current period and the minimum repayment amount, as well as the final repayment date, bill details, etc. When you apply for cash installment business, after the installment business application is successful, it will be reflected in your next period's bill. At this time, you should make the payment according to the amount on each period's bill before the final repayment date. Do not overdue repayment. If you cannot repay in full, you can repay according to the minimum repayment amount. However, it is not recommended to repay according to the minimum repayment amount. Pay according to the minimum repayment amount and pay the remaining amount. There is a handling fee. For example, if the bill amount is 4329.01 and the minimum repayment amount is 216.45, then the bill must be repaid in full before August 5th or according to the minimum repayment amount.
2. When you consume a relatively large amount of funds and you are unable to pay it off before the next repayment date, you can apply for installment payment from the bank. After the installment is successful, you Just make the repayment according to the bank statement amount in each period. Generally speaking, when you apply for installment from the bank and the bank approves it successfully, it will issue you a bill on your next bill date. You need to start repayment from the first repayment date after application. For example, you need to start from Repayment begins on the first repayment date after application. For example, if you apply for an installment on July 27, the bill will be issued on August 4. The installment business must be reflected in the bill on August 24. Pay off the bill amount before the date.
3. If you spend a large amount of money and do not apply for installment before issuing the bill, then you need to apply for installment after issuing the bill. The bank system will calculate the amount of your consumption based on your consumption amount. Use the bill amount to determine whether your bill can be installmentd. If you have applied for installment before the bill date, the bank system will not allow you to apply for installment.
4. Generally, most large-amount transactions can be paid in installments. For example, after a sales amount of 39,500 yuan is made, and there is no need to apply for a single installment of consumption, then it can only be done in August. You can apply for bill installment after the bill comes out on the 4th. Therefore, if you apply for bill installment on August 6, you must pay off the first installment amount and handling fee before August 24.
How to repay credit card installments
After credit card installments, you can automatically repay through mobile banking, third-party payment platforms, ATM machines, bound bank cards, and repay over the counter.
1. Mobile banking. Now all major banks have their own mobile APP. After downloading, you can log in to your account to pay off your credit card;
2. Third-party payment platforms, such as Alipay and WeChat , these softwares have credit card repayment functions, and you can repay after binding the bank card;
3. To pay at the ATM machine, just insert the credit card directly into the ATM machine and then deposit money;
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4. Link your bank card to your credit card, and the system will automatically deduct the money from your bound bank card on the repayment date;
5. You can also repay at the counter of a bank outlet To pay, you need to bring your ID card and credit card.
1. What are the advantages and disadvantages of credit card installment repayment?
Benefits:
It mainly relieves the pressure of excessively high bills in a single period. When I owe 10,000 yuan and only have 3,000 yuan on hand, paying it back in several installments will not affect my credit but also relieve the pressure. And it helps to increase the credit card limit. The bank will charge installment fees. It is happy to see users make installments. In order to collect more, it will naturally increase the limit.
If it is to increase the amount, it is not cost-effective to apply for installment if you have money. Although you have more free funds temporarily, it will increase a certain burden.
Disadvantages:
There are handling fees for installment repayment. Different banks have different rates. The longer the period, the higher the handling fees. If you repay in installments over a long period of time, you will find that the handling fees are astonishing. Moreover, this is not conducive to cultivating good consumption habits. Only paying back part of the money every month may lead to more and more debts.
Instalment repayment can be repaid in advance. Generally, users need to actively apply with the bank customer service, but this is not recommended as it has many disadvantages.
1. Why is it not recommended to repay the loan in advance?
The installment handling fee is fixed after the application is completed. I applied for it in 12 installments, so the additional fees for these 12 installments must be paid. No matter how many installments are left and you want to repay in advance, this amount cannot be reduced.
Furthermore, many banks have relevant regulations. Once you apply for early repayment from customer service, the remaining money must be paid off in one lump sum on the next bill. On the contrary, it increases the financial burden, so it is better to repay as agreed.
2. How to make reasonable use of installment repayment
The starting point of installment repayment is to spread the pressure on the cardholder over several installments when the user is temporarily unable to pay off the bill. Therefore, the installment plan is not blindly about the longer the better. It is important to choose the appropriate number of installments based on your actual income to avoid wasting handling fees.
After being unable to repay the money they owe, many people are wandering between the minimum payment and installment repayment, saying whichever is more cost-effective. In fact, it all depends on the user's own situation, such as how much money is owed and how long it will take to pay it off.
1. If you owe less, choose the lowest short-term repayment
If I only owe two or three thousand, and the funds will arrive in a few days, then I don’t want to choose installment payment. . The minimum daily interest rate for repayment is 0.05%, and compound interest is calculated on a monthly basis. For example, if the bill amount is 10,000 yuan, the interest is only about 150 yuan a month. If divided into 3 installments, the interest rate will definitely be higher.
2. How long does it take to pay off the debt in installments?
In the case of long-term economic constraints, it is of course recommended to repay in installments. The minimum repayment is compounded every month. If you don't repay it for one day, the interest will keep piling up. The interest generated by the minimum repayment in one year is several times the handling fee in 12 installments.
In short, installment repayment itself has advantages and disadvantages. It is recommended to choose the appropriate number of installments to repay when you are unable to repay. It is not recommended to repay in advance.
How to repay the credit card after installment?
Banks generally provide an interest-free repayment period of 20-50 days. The repayment due date is 20 days after the bill date, so repayment should be made before the due repayment date.
Credit card repayment method:
1. Online bank transfer: log in to online banking, and use the bank debit card, credit card, current all-in-one or current savings account under your name. Make transfer repayments.
2. Mobile banking transfer: Open mobile banking and easily complete transfers and repayments anytime and anywhere.
3. Bank self-service terminal repayment: You can use self-service equipment such as deposit and withdrawal machines (CDM) or automated teller machines (ATM) to transfer funds to your credit card for repayment; you can also use the integrated deposit and withdrawal machine Use cash self-service repayment machine (CDM).
4. Over-the-counter repayment: Make cash repayment at the counter of a bank outlet or transfer repayment to a credit card account through a debit card, credit card, current savings account, etc.
Extended information
Notes on automatic transfer repayment
First, if the credit card holder has a debit card bound to the agreed account repayment, then in Before the due repayment date, ensure that the associated savings card is in normal condition and the amount is sufficient, and the agreed account repayment will be automatically made when due.
Second, when repaying a linked savings account, the default is to repay in full. If the cardholder intends to repay the minimum repayment amount in each period, he can inform customer service and change the repayment mark when binding.
Third, paying the minimum repayment amount on time will not affect the cardholder’s current credit record, but interest will be charged on the entire bill.