Can credit card installment be canceled?

There are two situations for canceling credit card installment:

1. If the installment is not implemented or the bank stipulates Within the cancellation period, you can directly call customer service or cancel the installment online.

What cardholders need to note is: not all banks can cancel installment payments without executing installments. For example, China Merchants Bank, as confirmed by the China Merchants Bank Credit Card Center: CMB credit card bill installment applications are not allowed after successful application. Canceled. After the cardholder successfully applies for bill installment, the handling fee for the bill installment will appear in the current bill after the application is successful, and the cardholder cannot apply to cancel the bill installment.

If you want to cancel the installment payment with China Merchants Bank, you can return the bill installment amount in advance. However, even if you return the bill installment amount in advance, the bill installment fee already collected will not be returned.

2. If the installment has already started, it cannot be canceled. You can choose to repay it in advance, but repaying it in advance will not save the handling fee.

Cardholders can call the credit card customer service to apply for early repayment of installments after the current installment bill date, and no additional early repayment fees will be charged. The unamortized principal and handling fees of the cardholder's installment payment will all be included in the cardholder's current bill at the end of the early repayment application date, and will be fully included in the minimum repayment amount. They will no longer be charged on subsequent billing dates. apportionment.

If you pay all the installment fees in the first installment of your credit card installment, the fees will not be refunded even if you cancel the installment now.

CreditCard is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. The form of a credit card is a card with the name of the card-issuing bank, validity period, number, cardholder name, etc. printed on the front. Consumers holding credit cards can go to a special commercial service department to shop or consume, and then the bank will work with the merchant and the cardholder to The cardholder can make an overdraft within the prescribed limit.

China’s credit card market is still one of the fastest-growing product lines in China’s personal financial services market. Although the economic benefits of the industry are full of challenges, driven by economies of scale and growth in consumer spending, China’s credit card market will continue to grow in the next 10 years. The average annual growth rate of credit card issuance will remain at around 14%, and profitability will also tend to improve. Qianzhan.com predicts that by 2020, the cumulative number of credit cards issued in China will exceed 800 million.

Can the credit card installment be cancelled?

Yes, but 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.

Main features of credit card:

1. Credit card is one of the fastest growing financial services today. It is an electronic currency that can replace traditional cash circulation within a certain range. ;

2. Credit cards have both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using credit cards;

3. Credit cards are high-tech products that integrate financial services and computer technology.

4. Credit cards can reduce the use of cash;

5. Credit cards can provide settlement services, facilitate shopping and consumption, and enhance a sense of security;

6. Credit cards It can simplify the collection procedures and save social labor;

7. Credit cards can promote product sales and meet social needs.

Main types

According to different card issuers, they can be divided into bank cards and non-bank cards

Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

Non-bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., and are used for purchasing tickets, meals, accommodation, entertainment, etc.

According to the different objects of card issuance, it can be divided into corporate cards and personal cards

Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal organizations.

Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.

According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards

Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.

Gold Card. A gold card is a high-end credit card that pays high membership fees and enjoys special benefits.

Can I cancel the credit card bill installment if I no longer want to use it?

When repaying credit cards, many people use credit card bill installments in order to reduce their burden. But if I no longer want to use bill installment, can I cancel it? Next, I will answer this question for you.

Generally speaking, credit card bill installment cannot be canceled after application, but it still needs to be considered based on the specific situation, but there are basically only two situations:

1. The application has not been processed< /p>

After the cardholder submits the credit card bill installment application to the bank, there will generally be a period of time. The bank will investigate the cardholder's card usage during this period, and the results of the investigation will determine whether to approve the cardholder's application. During this period, cardholders can call the bank's credit card customer service and request to cancel the credit card bill installment.

2. The application has been processed

When the cardholder's bill installment application has been processed and passed the bank's internal review, then unfortunately, the credit card bill installment application cannot be canceled.

Although credit card bill installments cannot be canceled, and installment fees will also be charged. But if you want to end the installment, the only way is to pay off the installment principal and all handling fees in advance. The installment handling fee includes the handling fee for subsequent installments. Even if the installment is ended early, most banks will not reduce the handling fee.

If the cardholder wants to end the installment early, he can call the bank's credit card customer service to apply for early repayment, and then pay off the principal and handling fees.

The above is the relevant content brought to you. For credit card bill installments, once the application has been processed by the bank, it cannot be canceled, and the number of installments, handling fees, etc. cannot be changed. . I would like to remind everyone that before making a credit card installment, you must consider your own situation and do not make a blind choice.

Can I cancel the installment repayment application for a credit card?

After the credit card installment has not been implemented by the system or within the cancellation time specified by the bank, you can directly call the customer service number or cancel it through online banking. installment.

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.

1. The meaning of credit card bill installments

1. There will be a billing date and a repayment date every month. After the bill comes out, if you encounter insufficient funds, you can apply for installment payment. payment. Bill installment means repayment in installments. If you pay the bill in installments for the current period, the bank will charge interest on the bill installment.

2. Credit card bill installment payment is one of the types of credit card installment payments. This type of installment payment means that the credit card holder requests the credit card center to return the consumption amount to the bank in installments after using the credit card to swipe the card.

3. Credit card bill installment payment is the simplest method of installment payment. You only need to call the bank’s credit card center or log in to your personal account between the time the card payment is credited and the due date of repayment. You can apply for installment payment through online banking. Generally, as long as you have no bad personal credit record, you can get approval.

2. Under what circumstances cannot installment be carried out?

There are at least three situations in which bill installment cannot be carried out:

1. Installment cannot be carried out until the bill is issued;

2. Consumption that has been made in installments cannot be made in installments again;

3. Cash withdrawal cannot be made in installments.

3. Advantages of installment payment

1. Enjoy it first, pay later.

2. The starting point for application is low. As long as the single consumption exceeds 600 yuan or 600 Hong Kong dollars, or 100 US dollars or euros, you can apply for installment payment.

3. There are many options for the period. The installment payment period is divided into 3, 6, 9, 12, 18, 24, and 36 months. There are seven periods for cardholders to choose from. They can also repay in advance or choose to extend the period.

4. No guarantor is required and the application procedure is simple. You can easily handle this by swiping your card at ICBC designated merchants, going to ICBC business outlets, or dialing 95588 customer service hotline.

5. Convenient repayment. You will be reminded to repay with the monthly statement, and you can also activate SMS notifications to remind you of monthly repayments. You can choose from various repayment channels such as business outlets, self-service terminals, online banking, telephone banking, and mobile banking. You can also designate accounts for automatic repayment. ICBC waives handling fees for early repayment of installments.

6. Provide extension function. The extension business of installment payment can be handled through telephone banking or over the counter, extending the period of installment payment, reducing the amount of monthly deductions, and reducing the repayment pressure of cardholders; those who apply for extension will be charged according to the extension fee standard. Extension handling fee.

7. Avoid embarrassment and don’t worry about spending more than you can finish.

8. Reasonable financial management and more reasonable financial management.

9. When you accumulate points and spend in shopping malls, you can receive discounts or give gifts when you reach the full amount.

How to cancel credit card installment payment

1. If the installment payment has not been carried out after applying for installment payment, or within the cancellation time specified by the bank, the cardholder can You can directly call the customer service number of the card-issuing bank to cancel, or you can cancel the installment repayment yourself through online banking. But not all banks can apply for revocation without performing installment repayment.

2. If the installment repayment has already started, in this case, it usually cannot be canceled. The installment can only be ended by repaying in advance, but even if the installment amount is paid off in advance, , the handling fee incurred after the installment will not be refunded.

Credit card:

A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

That’s all for the introduction on how to cancel credit card installment payments.