The rule of credit card installment repayment is usually that once the installment is started, even if the repayment is made in advance, the bank will usually calculate the interest according to the date of full repayment, not according to the number of installments you actually use. This means that even if you end the installment in advance, the interest will still be paid for the remaining months that have not been consumed. In addition, many banks will charge a certain fee for prepayment, which is usually clearly informed at the beginning of the installment, so prepayment also needs to be paid together.
In addition, there are many types of credit card installment, such as shopping mall installment (such as POS installment), mail order installment and bill installment. Shopping malls usually have a handling fee after three installments. Mail-order installments usually do not charge a handling fee, but the processing cycle is long. Although bill installments are simple, they are usually free of handling fees, and the longer the number of installments, the higher the handling fee. Therefore, when choosing the staging method, it is best to know the costs and conditions in advance so as to make a wise decision.
generally speaking, prepayment by credit card installment is not completely free, and decisions need to be made according to the specific regulations of banks and their own economic situation.