The minimum repayment amount refers to the minimum repayment amount specified on the credit card bill. The advantage is that it can temporarily alleviate the debt pressure, and will not cause overdue fees and credit history problems due to failure to repay on time. The minimum repayment amount is only calculated according to the proportion of interest to a small part of the principal, and the total loan is repaid at a very low speed for a long time, which leads to an increase in interest expenditure and an extension of repayment period.
Staging refers to the repayment method of dividing the overdraft amount into several equal principal and interest according to a certain period. The advantage is that the arrears can be evenly spread over many months and paid in installments, which reduces the economic pressure of the month, and the repayment period is fixed and clearly visible. However, the installment will generate certain fees and interest expenses, and the total repayment amount is higher.
Choose the way that suits you best according to your actual situation. If you have enough funds to repay the arrears in one lump sum and promise not to overdraw in the future, then full repayment is the most cost-effective choice. If you can't repay it in one lump sum for the time being, but you don't want to be dragged down by high interest rates, you can consider repaying it in installments and repaying the arrears in equal installments. But no matter which way you choose, you should plan your consumption and repayment plan reasonably to avoid falling into a long-term debt dilemma.
Remind you again that if you don't know your online loan application, it is recommended to go to Xiaoqi Credit Information to get a big data report first. After checking your detailed loan records and confirming that the loan amount is correct, pay off all the arrears first, and then contact the customer service of the corresponding platform for processing. Through these steps, you can better manage your loan record.