as we all know, credit card installment can bring income to the credit card application platform, so many banks are very supportive of credit card installment. Moreover, card friends often receive calls from banks for installment, especially after large consumption. If they feel that they have repayment pressure, they will apply for credit card installment after receiving the invitation from the bank. Of course, credit card installment doesn't mean that you can't do it, but before you do it, you must pay attention to the following three things:

1. Credit cards are interest-free but not free

In order to encourage cardholders to repay by installment, many bank staff will say that they don't have to pay interest, but only charge fees. But in fact, the so-called handling fee is the interest calculated on a monthly basis, mainly based on the number of installments, and the handling fee generated by consumption installment and cash installment is also different, and the handling fee for cash installment is higher.

2. You can't cancel after successful processing

Many cardholders may want to cancel the credit card installment business for various reasons, such as high handling fees or having enough money in hand to pay it off. But the bank will not cancel it. Not only that, but even the term of the loan cannot be changed.

3. Prepayment cannot be exempted from handling fees

Credit card installment is to be repaid on a monthly basis, even if prepayment is made, it is the same, and the remaining handling fees should be paid. Of course, some banks can waive the handling fee for the balance, but they need to pay about 3% of the outstanding principal as a penalty for prepayment. Therefore, it is not cost-effective to prepay after the credit card installment repayment.