What to do if your credit card cannot be repaid in installments? You can try these methods

In normal times, many people will use credit cards for consumption, but after spending more than they need, many people have to use installment repayment. This can Why can’t I lower my monthly repayment amount, but I can’t make installment payments on my credit card? Have you paid attention to it in normal times? What should you do if you encounter this situation?

If the user cannot use installments when repaying the credit card debt, he or she can borrow money from friends around him to repay the credit card debt, thus avoiding overdue credit card repayments. However, it is best to promise a repayment date when borrowing money, and do not borrow money from friends around you often, otherwise it will arouse the resentment of others.

When a credit card cannot be used for installment, it may be caused by multiple reasons. For example, the user's consumption limit using the credit card does not meet the amount required by the card issuer; and the cardholder has multiple overdue payments when using the credit card. In this case, the bank will also refuse to handle the installment.

If the credit card cannot be used for installment, it may also be because the credit card limit includes a cash withdrawal limit and a temporary limit. These limits cannot be used for installment repayment, and the user must pay it off in one go. Furthermore, when a credit card is cashed out, the bank will refuse to apply for installment repayment.

When applying for credit card installments, users can choose different installments for repayment, but the handling fees charged for different repayment installments are different. After applying for installment, users can repay in advance, which can reduce interest expenses. Do not frequently handle installment repayment in normal times, which is very detrimental to increasing the credit card limit.

When repaying a credit card, you must repay it on time. Overdue repayment is not allowed, because penalties will be incurred after overdue repayment. The longer the time, the more penalty interest will be incurred. Moreover, overdue repayment will affect personal credit, and when credit becomes bad, it will affect the processing of various loans, such as car loans or housing loans.

What should I do if my credit card cannot be applied for installment?

It is reported that the main reason why the credit card cannot be installment is due to insufficient comprehensive score. To solve the problem, you have to find the reason and then prescribe the right medicine. Generally, we start from two aspects. , one is in terms of applicant qualifications, and the other is in terms of credit card usage.

1. Applicant’s qualifications

If the applicant has problems with his or her credit, high debts, financial constraints, etc., checking the credit report can basically reveal these problems, and then take corresponding measures. solution. For example, if you have problems with your credit score, pay off overdue debts and then gradually improve your credit score through subsequent use of cards; if you have high debt, find ways to raise money to pay off your debt and reduce your debt; if you are short of funds, you must reduce your loans and credit card applications recently.

2. Credit card usage

It is precisely because there is no standard use of the card that the risk is controlled. If the credit card is overdue, or has frequent installments, minimum repayments, etc., the greatest possibility is There are illegal card usage behaviors, such as frequently making large transactions on the same POS machine of the same model, using up all the repayments within a few days of entering, and maxing out the card every month, etc.

There is only one solution, which is to standardize the use of cards and increase real consumption. In addition to swiping cards in daily life, you can also occasionally go to high-end places for consumption. It is best to be a special merchant of the bank. Not only do you get points, but it is also easy to use. Let the bank recognize your spending power, and even if you make large purchases in the future, you may not be subject to risk control.

The reasons why credit card installment cannot be applied for:

1. Poor personal credit record

Although the threshold for applying for credit card installment business is relatively low, if the cardholder If the consumption and repayment situation are not good, the bank will reject it. For example, if you have a credit card consumption situation, the bank may suspect that you are cashing out through data monitoring; if your repayment record is not good, you have been overdue multiple times or you have not paid overdue. It’s normal to be unable to apply for credit card installments.

2. The purpose of cash installment funds is incorrect

Generally, when applying for cash installment from a bank, you will need to know the purpose applied for by the cardholder. The bank has clearly stipulated that the money applied for cash installment cannot be used for investment (including but not limited to house purchase, stocks, futures and other equity investments) and can only be used for consumption (including but not limited to decoration, home appliances, weddings, car purchases, Student assistance, tourism, medical care, etc.).

3. The cash installment amount exceeds the available limit

There is another situation where cash installment cannot be applied for, that is, your credit card limit has been overdrawn, or the credit card available limit is less than your cash installment limit. The amount cannot be paid in installments. For example, if your credit card limit is 10,000 yuan and you have overdrafted 8,000 yuan, if you apply for another 3,000 yuan cash installment, you can only apply after you have paid off the balance and restored your credit limit.

4. The bill installment amount is not enough

After the cardholder makes a large purchase and knows that he cannot repay the full amount on a single billing date, he can use the bill installment service , make installment payments. Each bank has requirements for the amount of bill installment. For example, the installment amount of China Construction Bank must be more than 600 yuan, and the bill installment amount of China Merchants Bank must not be less than 300 yuan each time. If the amount of your bill is lower than the bank’s minimum installment requirements, naturally you cannot apply for installment.

What to do if the credit card does not allow installment repayment?

Not all banks can handle installment repayment. Therefore, this requires everyone to ask clearly whether installment repayment is possible before applying for a credit card. Then proceed with the process.

The main items that banks generally prohibit installments are:

1. Annual fees, principal of previous installments, revolving credit interest, and liquidated damages;

2. Transactions such as transfer transactions, gold sales, and hotel pre-authorization transactions;

3. U.S. dollar account transactions and funds that have been applied for foreign exchange purchases; banks with the above items will refuse to handle installments.

There are also relevant regulations of some banks:

1. The installment amount must meet the standard, and the owner’s installment amount must be 500 yuan or more;

2. The installment amount is limited. The maximum amount of the bill installment applied by the poster shall not exceed 90% of the current bill amount, and shall not exceed 80% of the permanent credit limit;

3. The minimum repayment amount of the poster's bill after installment is still the principal. The minimum repayment amount of the current bill.

If the above requirements are not met, the bank will refuse to apply for credit card installment. If none of the above are involved and your credit card cannot be used for installment, it is recommended to go to the bank for consultation.

In fact, it is very simple. It is possible that our past payment cards are not in place and are subject to risk control, which limits our installments. In fact, credit cards cannot be used in installments, which is quite serious. Because it may be derated at any time, so what should you do if this happens?

1. Increase real consumption; if this happens, it is best to go to some high-end places to do some consumption, and it is best to go to the bank's special merchants. In this way, your card consumption becomes more normal.

2. Installment is compulsory for purchases in the credit card APP mall; that is to say, we can choose what we need in the credit card's own mall, and it shows that it can be installmentd. We can buy directly with a credit card, so we can buy in installments. In this way, our credit card also has an installment for a single consumption.

3. Do some operations such as recharging phone bills appropriately; similarly in the credit card APP, we can do some recharging of phone bills. Doesn’t it mean that we must recharge how much? Just do some operations like this, and it will cost you a hundred dollars.

4. Try not to repay, and let the available limit return to more than 50 of the total limit; for example, if the limit is 20,000, no matter how much the bill is, when we repay the loan, we should not let his available limit return to 10,000. , because sometimes, if we pay a little more, he may immediately lower the amount for us. So we can repay part of it first, transfer it out after a while, and then repay part of it. Pay off your debt gradually. Of course, this does not mean that we are told to go in and out quickly.

The above operations can effectively buffer the card and must persist for a period of time. This does not mean that we can do this for only a day or two. Secondly, it does not mean that you will be safe and unscrupulous after doing these operations. Everything we do is to be safer and reduce risks. Therefore, strict risk control must be carried out at all times when using the card to ensure greater security.

That’s it for the introduction of what to do if your credit card cannot be paid in installments.