How many installments can the credit card installment be divided into at most?
The maximum number of installments can be 36.
China Merchants Bank charges 0.9% in 3 installments; 0.75% in 6 installments; 0.66% in 12 installments; a one-time handling fee is charged.
Introduction to product features:
1. There are many types of cards, with novel and beautiful styles, which are easy to attract people.
2. The service attitude of telephone banking is very good and very convenient.
3. Electronic banking and mobile phones are linked together and are relatively safe.
4. There will be an email notification for every purchase, and a text message reminder for every online transaction and general card transactions over 300 yuan.
Extended information:
Most domestic banks have credit card installment services. Installments are generally divided into shopping mall (POS) installments, through the Internet, and mailings according to different occasions. "Mail order installments" and bill installments are carried out.
Shopping mall installment
Also known as POS installment, it means that cardholders go to shopping places, such as "malls" where installment can be purchased. When checking out, please show a credit card that supports installment payment at the mall and indicate that you need to pay in installments. Then the cashier will swipe the card on a dedicated POS machine according to the number of issues required by the cardholder (such as 3 issues, 6 issues, 12 issues, etc., a few shopping malls support 24 issues).
Note: Cardholder identity verification is required when making installment purchases in shopping malls, so remember to bring your ID card. Shopping mall installments are generally free of charge for three installments. The rates for 6 and 12 periods vary from bank to bank.
As long as the products that can be paid in installments are normally sold in the shopping mall, they can generally be paid in installments. In many cases, cardholders can also bundle multiple items together for checkout and then make installment payments.
Mail order installment
It means that the cardholder receives the installment mail order catalog manual sent by the card-issuing bank (or the bank's online installment mall) and chooses from limited products. Then order through the online installment mall, call or fax the mail order installment application form, etc. to the bank for installment mail order.
There is generally no handling fee for mail order installments regardless of the number of installments. However, due to the long ordering cycle (in many cases it will take more than 15 working days to get the product) and the relatively cumbersome return and exchange process, it is recommended to compare before purchasing.
Bill installment
This is the most convenient installment method. Basically, all card-issuing banks can support this installment method, and the application is simple. Users only need to submit an installment application to the card-issuing bank by phone or other methods after swiping their card for consumption and before monthly bills are sent.
However, please note that each bank will stipulate some special cases. For example, speculative card swiping will not be successful in installments. So before proceeding with staging, be sure to read the staging manual carefully.
What is the maximum installment for a credit card?
The credit card can be repaid in installments up to 3 years. The maximum installment for credit cards of China CITIC Bank and Industrial Bank is 3 years, and the maximum installment for industrial and commercial, construction, China, agriculture, transportation, investment, people's livelihood, Ping An, Guangfa, Pudong Development, Huaxia, Savings, and Bank of Beijing is 2 years.
Extended information:
Credit card installment means that when the cardholder uses a credit card for consumption, the cardholder does not have the money to repay the full amount on the repayment date, so he will choose the minimum repayment Or repay in installments. The minimum repayment is based on daily interest, while the credit card installment payment directly calculates the installment fee, and the cardholder repays according to the monthly credit amount.
Cancellation of credit card installment:
After the credit card installment has not been executed by the system or within the cancellation time specified by the bank, you can directly call the customer service number or cancel the installment through online banking.
If the credit card installment has already started, the cardholder cannot cancel it. However, you can choose to repay in advance. It is worth noting that cardholders must have enough funds to repay in full before they can apply to the bank to settle the installment in advance. In addition, early repayment installment handling fees still need to be paid, but no additional early repayment handling fees will be charged.
It is worth mentioning that if your credit card repayment date is on the 13th and you do not have the money to repay it in full, and your salary day is on the 15th, then compared to installment repayment, the minimum payment is The payment method is the most cost-effective.
The difference between credit card transaction installment and bill installment:
1. The time is different:
Transaction installment is generally after the consumption occurs, the transaction is recorded, but the bill is not returned It is handled before the bill comes out; while the bill installment is usually done after the incoming transactions are summarized and settled. After the bill comes out, it is handled before the repayment date arrives.
2. Different amounts:
If a credit card is used for transaction installments, the entire amount of the entire transaction can usually be installmentd, but if it is used for bill installments, it is often only Approximately 90% to 95% of the bill amount can be installmentd.
In addition, the respective handling rates may also be different (of course, whether it is transaction installment or billing installment, if the number of installments selected is different, the respective handling rates themselves will also be different. The difference is subject to the page display). There may also be differences in the choice of the number of installments. For example, some credit cards can choose to divide the bill into 36 installments, while the transaction installment can only choose to divide into 24 installments at most, and there is no option of 36 installments.
The longest credit card installment can be divided into several years
The longest credit card installment can be 24 months, that is, two years.
In bank credit card business, the interest is calculated based on the total principal amount for installment repayment and minimum repayment. If you pay in installments, no matter how many months you repay, the interest is calculated based on the total principal amount. of.
Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder, and then allows the cardholder to pay in installments The process of repaying money to the bank and paying handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.
In the early days of the credit card installment business, banks often promoted it as "interest-free", and indeed many citizens were "fooled". In fact, interest-free is not free, it’s just called something different.
In general, the one-year credit card installment fee is lower than the annual cash withdrawal interest of 18% and higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that commercial bank loan interest rates have been reduced many times in recent years, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment fees vary from bank to bank, the calculation method is roughly the same.
Assume that the installment amount is 1,200 yuan, divided into 12 installments, with each installment (monthly) repayment of 100 yuan, the handling fee is 0.6%/month, and the actual monthly deduction is 101200×0.6%=107.2 Yuan. If other factors are not considered, the convertible nominal annual interest rate is 7.2%. However, the cardholder does not always owe the bank 1,200 yuan. In the last month, he actually only owed the bank 100 yuan, but the bank still charged a handling fee of 1,200 yuan. .
According to calculations, the true annual interest rate paid by cardholders is approximately 15.48%. According to the correct calculation formula, it should be 12000.6% (1+0.6%)^12/((1+0.6%)^12-1)=103.94 yuan, which means an extra 3.2% handling fee per period.
The main benefits of credit card installment payment:
Enjoy it first, pay later;
No guarantor required, simple procedure;
Fixed amount, Easy payment;
Pay as you please with any monthly repayment amount;
More options for payment methods.
From the perspective of the form of installment payment, when cardholders handle this business, the starting amount of a single transaction is limited, and the installment repayment grades and handling fee standards are also different; it can be roughly divided into three types. Category:
The first category is carried out in cooperation between banks and special merchants, but the product types are limited;
The second category is the bank’s product catalog, which is selected by the cardholder from the catalog. After purchasing, the bank then entrusts the supplier to deliver the goods to the customer;
The third category is not limited to merchants and goods. After the cardholder purchases, he or she can apply for installment repayment from the bank. Some banks even accept the payment. The scope is set to global.
What is the maximum number of installments that a credit card can be divided into?
Each bank's credit card installments are divided into different installments. Most banks' credit card installments are 3, 6, 9, 12, 18, and 24 installments. Wait, up to 36 issues.
1. China Merchants Bank: The shortest installment for a China Merchants Bank credit card is 3 installments, and the longest is 24 installments.
2. Bank of China: The shortest installment for a Bank of China credit card is 3 installments, and the longest is 24 installments.
3. Everbright Bank: The shortest installment of Everbright Bank credit card is 3 periods, and the longest is 15 periods.
4. China CITIC Bank: The shortest installment for a CITIC Bank credit card is 3 installments, and the longest is 36 installments.
5. China Construction Bank: The shortest installment for a Construction Bank credit card is 3 installments, and the longest is 24 installments.
6. Industrial and Commercial Bank of China: The shortest installment for an ICBC credit card is 3 installments, and the longest is 24 installments.
1. How many installments can a credit card be divided into at most?
Different banks have different regulations for credit card installments. Generally, it can be divided into 3 installments, 6 installments, 12 installments, 18 installments and 24 installments. The maximum period shall not exceed 36 periods, depending on the regulations of your card-holding bank. For example, the number of installments of Ping An Credit Card can be divided into up to 24 installments and a minimum of 3 installments. However, the more credit card installments there are, the higher the handling fee. For example, the handling fee for 24 installments will definitely be higher than the handling fee for 3 installments (there are also special circumstances in banks)
Minsheng Bank Credit Card Consumption For single consumption amounts between RMB 800 and RMB 50,000 (excluding cash advances and various interest charges), cardholders can apply for 3, 6, 9, and 12 interest-free installments before the current bill date. Cardholders You can apply for installment payment by calling Minsheng Bank’s 24-hour customer service hotline or logging into online banking.
According to the customer service staff of Industrial Bank, customers can request cash installments within the limit, which can be divided into 1 installment (1 installment). Each month is 1 period), 3 periods, 12 periods and 24 periods, the handling fees are 1%, 2.4%, 9% and 18% respectively. For example, if the customer's quota is 30,000 yuan, he can apply for a cash installment of 30,000 yuan, choose one. For years, the bank will charge a handling fee of 9%, which is 2,700 yuan, and then repay the principal of 2,500 yuan every month.
According to the information on the official websites of China CITIC Bank, Hua Xia Bank and Ping An Bank, their business of this type is generally 2,700 yuan. It can only be divided into 24 installments, and Hua Xia Bank can apply for up to 36 installments, or 3 years. The handling fees vary from bank to bank. Taking 12 installments, or 1 year, as an example, each bank is mostly 9%. However, the customer service staff of China CITIC Bank said that the bank charges each period. The monthly handling fee is 0.85%, which is 10.2% in one year
If you hold a China Merchants Bank credit card, you will have the bill installment function after paying in full (only if you hold a business card, official card (including financial official card) ), purchase card, ANA guaranteed card or supplementary card cardholders cannot apply): can enjoy the interest-free period but there is a handling fee. The handling fee per period = the total installment amount × the handling fee rate per period, and the handling fee per period is the lowest. The charge amount is 5 yuan, and the handling fee per period = total amount = single period rate. Currently, there are periods ranging from 2 to 36 periods, and the single period handling rate is 0%~1.67%.
When applying for RMB bill installments, the minimum amount applied for each time is not less than 300 yuan. For U.S. dollar bill installments, the minimum amount applied for each time is not less than $100. The total amount applied for installments for unbilled transactions must be equal to the original transaction. The total amount does not support the cardholder's application for amortization of part of the amount of a single transaction, such as cash advance transactions, installment transactions, real estate transactions, RMB funds that have been applied for foreign exchange purchases, and other transactions designated by the Bank. You cannot apply for bill installment. The maximum amount that can be applied for bill installment is subject to the actual evaluation results.
The maximum number of credit card installments
The number of credit card installments is different for each bank. , mainly include:
1. China Merchants Bank: The shortest installment for a China Merchants Bank credit card is 3 installments, and the longest is 24 installments.
2. Bank of China: The shortest installment for a Bank of China credit card. The installment is 3 installments, and the maximum is 24 installments.
3. China Everbright Bank: The shortest installment for the Everbright Bank credit card is 3 installments, and the maximum is 15 installments.
4. CITIC. Bank: The shortest installment for CITIC Bank credit card is 3 installments, and the longest is 36 installments.
5. China Construction Bank: The minimum installment for CITIC Bank is 3 installments, and the longest is 24 installments.
6. Industrial and Commercial Bank of China: The minimum period of ICBC is 3 periods and the maximum period is 24 periods.
This concludes the introduction to the maximum installment period for credit cards and the maximum installment period for bank credit loans. Have you found the information you need?