Why is the credit card installment of China Merchants Bank so high? For example, the sixth phase is 4.2%, while Shanghai Pudong Development Bank is only 0.7%. What I read comes from the following web pages. Hello, you can't apply for installment in cash withdrawal. If it is not convenient to repay the generated bill in full, there are two ways for you to choose:

1. Billing installment (only for business cards, business cards (including financial business cards), purchase cards, ANA protection cards or supplementary cards): you can enjoy the interest-free period, but there is a handling fee. Handling fee per installment = total installment amount × handling fee rate per installment. The minimum handling fee for each period is 5 yuan, and the benchmark rates for each period are: 0.9% for the third period, 0.75% for the sixth period, 0.70% for 10, 0.66% for 12 and 0.68% for 18 respectively.

2. Minimum repayment amount: no handling fee but no interest-free period. If the minimum repayment amount is paid before the final repayment date, but less than the full amount, you cannot enjoy the interest-free repayment period. From the bookkeeping date (usually the day after consumption), interest will be charged on all consumption in the current period, with a daily interest rate of 0.5 ‰ until you pay it off in full.