Is it cost-effective to repay the credit card by installment?

The credit card installment interest is determined according to the installment time, and the charging standard of the handling fee is different in different banks. Generally speaking, the more installments, the higher the handling fee rate. In addition, some banks will charge a certain fee when credit cards are divided into stages. The credit card installment rate seems to be low, and the actual annualized rate is not low, because the principal is repaid every month, but the monthly handling fee is fixed.

:

1. Can credit cards be repaid in advance by installment?

Yes, but it should be noted that you should try not to apply for prepayment after credit card installment, because many banks still charge fees or late fees for users who repay in advance. Except for ICBC, most banks stipulate that if the cardholder repays in advance, he must pay all the remaining principal and handling fees in one lump sum.

2. Does credit card consumption installment affect mortgage approval

After credit card consumption installment, if each installment is repaid on time and the debt ratio is not high, it will not affect the user's mortgage approval. After the installment, users have overdue records, and the existing liabilities exceed 5% of the personal debt ratio, which will directly affect the results of mortgage review, because banks have greater risks in lending money to users.

3. Will credit card installment repayment affect credit information?

No, credit card installment repayment will not affect personal credit information, because it is not considered as overdue repayment, but it should be noted that if the cardholder fails to repay on time after applying for installment repayment, it will affect personal credit information. In addition, it should be reminded that applying for credit card repayment will affect the personal quota, and a certain amount of installment fees will be paid.

4. Credit card loan interest rate

Using a credit card for installment is a credit card loan, and there will be a handling fee for installment. The interest rate of each bank's credit card installment is different. For example, the interest rate of ICBC's credit card installment is 1.8% for the 6th installment, 2.7% for the 9th installment, 3.6% for the 12th installment, 5.85% for the 18th installment and 15.6% for the 24th installment (one-time charge).

5. Is the credit card++

No, the credit card is not+++. Credit card is a credit certificate issued by commercial banks or credit card companies to qualified consumers, while+++is a loan with high interest, which usually belongs to private lending. They are two completely different concepts. Even from the interest point of view, credit cards usually pay interest at the rate of .5% every day when they are withdrawn or overdue, and the annual interest rate is only 18%, which is far lower than 36%. [img]

Is it cost-effective to pay by credit card?

This problem cannot be generalized, and it can be divided into the following two situations:

1. For users with temporary economic pressure, credit card installment payment is more cost-effective, and the use of credit card installment payment can alleviate the temporary economic pressure of users. However, there will be a certain installment fee for choosing credit card installment payment, and the specific fee depends on how many installments the individual repays. In addition, users also choose to repay on time after installment so as not to affect personal credit information.

2. For users without financial pressure, credit card installment payment is not cost-effective, because installment payment will generate installment fees, which means that users have to spend more money, so it is not cost-effective.

Extended information:

The number of credit card installments mainly depends on the regulations of the issuing bank and the types of installment business handled by customers. However, most bank credit cards mainly have three, six, nine, twelve, eighteen and twenty-four periods. Some bank credit cards can be divided into two special periods, 1 special periods, and 36 super-long periods (please call the customer service of the issuing bank for details, subject to the staging page).

when customers installment their credit cards, they just need to choose the appropriate number of installments according to their own needs and repayment ability. However, we need to pay attention to the fact that the installment fee rate may be different depending on the number of installments selected. Of course, the longer the number of credit card installments, the more installment fees you have to pay.

customers are advised not to always apply for long-term installment, so as not to make the bank think that the repayment ability is insufficient, which is not conducive to the improvement of the card limit. Usually, it is enough to choose 3 to 6 installments. If the installment is longer, 12 installments will be enough, not too long.

credit card installment is not a loan:

whether it is credit card bill installment, consumption installment or cash installment, it is a credit card business, not a loan. In the personal credit report, it is also displayed in the credit card record in the credit record, not in the loan record.

some people may mistakenly think that cash installment is a loan, but it is not. For example, some cash installments will occupy the credit card consumption limit, which itself will not be recorded independently; The special cash installment that does not occupy the credit card consumption limit will open an independent account, but it will also be displayed in the form of electronic credit card instead of loan in the personal credit report.

of course, customers should remember to repay the loan on time, whether it's credit card installment or loan. Otherwise, once it is overdue, it will leave a bad credit record in the personal credit report, and it will generally take at least five years to delete it after the customer pays it off. At that time, both the overdue credit card records and the loans overdue records will lead to personal credit damage.

Is credit card installment appropriate?

Credit cards can be repaid by installments, and most banks can divide them into 6 installments, 12 installments, 18 installments, 24 installments and 36 installments. Cardholders can choose the appropriate number of installments to apply for repayment by installments according to their repayment ability.

generally, there is no special reason, and applications for installment repayment can be approved by the bank's credit card center. Even in order to promote performance, many banks will take the initiative to arrange customer service to remind the card owner that they can repay the consumption bill in installments by telephone after the card owner's consumption bill is generated.

however, it should be noted that if you want to repay the loan by installments, you must submit the installment application before the repayment date of the bill. Don't wait until after the repayment date to apply for repayment by installments because the repayment is hindered.

In this way, not only can you not apply for repayment by installments, but it will even be regarded as overdue credit card debts, and the overdue records will be included in the personal credit information system, which will seriously affect your subsequent credit information.

moreover, credit cards need to pay a certain handling fee for installment repayment. The specific handling fee needs to be paid, which is related to the bank to which the credit card belongs and the number of installments, because the repayment rate of each bank is different, and different installment numbers will also lead to different repayment rates.

Therefore, how much handling fee should be paid for credit card installment repayment depends on which bank the credit card owner uses, the amount of bill to be installment, and the number of installments selected, and finally how much handling fee should be paid can be calculated.

Moreover, once the installment repayment application is approved, all the handling fees will be generated immediately. If the cardholder repays according to the installment plan, the handling fees will be repaid on a monthly basis as the installment amount. However, if the cardholder wants to repay the loan in advance after paying a certain number of installments when the economy allows, he will not only pay the installment principal, but also pay all the handling fees.

For example, if the number of installments applied by the card owner is 12, even if all the principal is repaid in advance in the eighth installment, the card owner still has to pay the handling fee for 12 installments. Therefore, in the process of repayment, the card owner needs to pay attention to this rule, so as not to think that he has repaid in advance and failed to pay the subsequent handling fee, resulting in problems in the repayment record.

What are the advantages and disadvantages of credit card installment

Benefits of credit card installment: First, reduce the pressure of repayment or consumption; When we usually spend money, the transaction amount may be relatively high, which will make it difficult for us to pay in full at the moment. If we handle the installment, our consumption pressure will be much reduced. For example, if you buy an Apple mobile phone, many people will buy it in stages. Second, it is conducive to credit card withdrawal; Credit card limit can be used for our consumption, so credit card limit is very important. If credit cards are often divided into stages, banks will be profitable, which is why banks always encourage customers to divide them into stages. And this is also conducive to the increase of our credit card

the disadvantages of credit card installment; First, you need to pay a certain handling fee; Credit card installment repayment needs to pay a certain fee, and whether it is installment repayment or installment payment, the fee is inevitable. And the longer the number of installments, the more fees will be paid. Second, it has a certain impact on handling cards and loans; Although installment can relieve our pressure, if you always handle installment, such as when the transaction or bill amount is not high, it will easily make the bank question your spending power and repayment ability, and it will also have a certain impact on your card or loan. So it is enough to stage it appropriately.

credit card installment refers to the process that when a cardholder uses a credit card to make a large amount of consumption, the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments and pays the handling fee. According to the cardholder's application, the bank will deduct the consumption funds and handling fees by stages through the cardholder's credit card account, and the cardholder will repay them according to the monthly recorded amount. At present, the actual annual interest rate of most credit card installment products on the market is about 17%, and some of them are even higher, which is almost equal to the annual installment rate given by the bank multiplied by 2. Another business person in the credit card center of the credit card joint-stock bank said that sometimes credit card installment payment is calculated separately from the handling fee and interest rate, but the actual annualized interest rate is rarely clarified in marketing. Citi official website can support credit card installment prepayment: you can choose to settle the amount to be repaid in advance in one lump sum before the installment expires, and at the same time, the remaining principal and other handling fees will be recorded in the latest installment bill. For example-can credit card be repaid in advance by installment:. If you have applied to Citibank for installment of credit card bill for 12 installments before, but want to settle the remaining installment in one lump sum in the sixth installment, then when you choose to settle in the sixth installment, you need to pay the total amount of the remaining installment principal plus the required installment fee for the remaining six installments. In the process of repayment, it should be noted that prepayment cannot exempt the handling fee.

that's enough for the introduction of credit card installment.