How to repay a credit card in installments
How to repay a credit card in installments:
1. Bill installment application time
From the transaction date to Until the repayment date, you can freely choose to make installments for transactions under RMB or USD accounts.
For transactions that have not been billed: You can apply for installment between the day the transaction occurs and 19:30 on the billing day corresponding to the transaction.
For bills that have been issued: You can apply for installments between the day after the bill date and the due payment date (for customers whose accounts have set up automatic repayment, the application deadline is 17:00 on the due payment date) 00).
2. Conditions for bill installment application
Applicants must hold a China Merchants Bank personal credit card master card, have good card usage records, and have no delays in current repayment. Customers who only hold commercial cards, business cards, purchasing cards, ANA guaranteed cards or supplementary cards cannot apply for bill installments at the moment.
3. Amount of bill installment application
To apply for RMB bill installment, the minimum application amount each time is not less than RMB 300; to apply for USD bill installment, the minimum application amount each time is not less than RMB 300. $100. After successfully applying for RMB or U.S. dollar bill installments, the principal of each installment and each installment handling fee will be credited to the RMB account, that is, the U.S. dollar bill installment amount will be converted into RMB according to the exchange rate specified at the time of application.
Extended information:
Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder. consumption funds, and then allow the cardholder to repay the bank in installments and pay handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.
Cancellation of credit card installment:
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.
The difference between credit card transaction installment and bill installment:
1. The time is different:
Transaction installment is generally after the consumption occurs, the transaction is recorded, but the bill is not returned It is handled before the bill comes out; while the bill installment is usually done after the incoming transactions are summarized and settled. After the bill comes out, it is handled before the repayment date arrives.
2. Different amounts:
If a credit card is used for transaction installments, the entire amount of the entire transaction can usually be installmentd, but if it is used for bill installments, it is often only Approximately 90% to 95% of the bill amount can be installmentd.
In addition, the respective handling rates may also be different (of course, whether it is transaction installment or billing installment, if the number of installments selected is different, the respective handling rates themselves will also be different. The difference is subject to the page display). There may also be differences in the choice of the number of installments. For example, some credit cards can choose to divide the bill into 36 installments, while the transaction installment can only choose to divide into 24 installments at most, and there is no option of 36 installments.
How to Install Credit Cards
1. After credit card installments, you can automatically repay through mobile banking, third-party payment platforms, ATM machines, bound bank cards, and repay over the counter.
2. Specifically:
Computer operating environment: Apple Computer A1466Window10 system
Mobile phone operating environment: Xiaomi 12MIUI12.5.13
< p>1. Mobile banking. Now all major banks have their own mobile APP. After downloading, you can log in to your account to pay off your credit card;2. Third-party payment platforms, such as Alipay and WeChat, are available on these software. There is a credit card repayment function, and you can repay after binding the bank card;
3. To pay at the ATM machine, just insert the credit card directly into the ATM machine and then deposit money;
4. Associate your bank card with your credit card, and the system will automatically deduct the money from your bound bank card on the repayment date;
5. You can also repay at the counter of a bank outlet, and you need to bring your identity. certificate, credit card.
3. Installment payment:
1. Installment payment (PaybyInstallments) is mostly used in some product transactions with long production cycles and high costs. Such as the export of complete sets of equipment, large-scale vehicles, heavy machinery and equipment and other products. The method of installment payment is that after the import and export contract is signed, the importer first pays a small part of the payment to the exporter as a deposit, and the rest of the payment is paid after part or all of the product is produced, shipped, or after the goods arrive for installation and test run. , investment and repayment in installments when the quality guarantee period expires.
2. Installment payment is actually a loan provided by the seller to the buyer. The seller is the creditor and the buyer is the debtor. The buyer can obtain the required goods or services after paying only a small part of the payment. However, because future installment payments include interest, the amount paid for the same goods or services by installment payment is higher than that of a one-time payment. The payment for goods is more. On the one hand, the installment payment method allows sellers to complete promotional activities, and on the other hand, it also provides convenience to buyers.
3. The characteristic of installment payment is that after the import and export contract is signed, the importer first pays a small part of the payment to the exporter as a deposit, and the rest of the payment is made during part or all of the production of the product. Payment will be made in installments after completion of shipment, or when the goods arrive for installation, commissioning, investment and the expiration of the quality guarantee period. The buyer and seller sign a contract when the transaction is concluded, and the buyer pays the seller in installments for the purchased goods and services within a certain period of time. The date and amount of each delivery of goods are stated in the contract in advance.
4. Most domestic banks have credit card installment services. Installments are generally divided into shopping mall (POS) installments, "mail order installments" and bill payments through the Internet, mail, etc. depending on the occasion. installment.
Credit card installment strategy, what are the methods, and the most comprehensive method to use it!
Credit card installment is one of the functions of credit card. Banks often promote bill installment. According to Jintou Credit Card, I understand that China Merchants Bank is now engaged in credit card bill installment activities. Most people may have heard of credit card installment, but how much do we really know?
1. Types of installments
In addition to cash installments, bill installments, and credit card purchase installments, there are also car installments, shopping mall installments, contract installments, special installments, etc. Students can choose Choose different installment types under different circumstances and compare which one is more cost-effective. Let me give you a brief introduction to the following types of installments.
Cash installment
Cash installment is also called cash installment, which is applied by the credit card holder or the card issuer actively invites the cardholder to apply. An installment method in which the credit limit on a person's credit card is converted into cash, transferred to a designated debit card (our bank or another bank), and divided into designated monthly installments for repayment.
To put it simply, cash installment means borrowing cash from the bank and then repaying it in installments. Of course, the interest you pay to the bank cannot be less.
Bill Installment
Credit Card Bill Installment 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 make purchases. Credit card bill installment payment is the simplest method of installment payment. You only need to call the bank's credit card center to apply for installment payment from the bill date of the card consumption to the due payment date. You can also apply for installment payment on your credit card. Apply directly on the APP.
In layman’s terms, credit card bill installment means that when you can’t pay off your credit card, you can use the credit card bill installment to relieve the pressure of repayment.
But remember, installment repayment requires corresponding handling fees and interest. This fee is quite spectacular. You must know that recent financial reports of the banking industry show that credit card revenue accounts for nearly 30% of the bank's total profits. Of course, whether or not to carry out credit card bill installments depends on personal circumstances. While we enjoy the convenience brought by credit cards, we must also make some money for the bank appropriately.
Shopping Installment
Many credit cards now have their own online malls, and there are quite a variety of products in the credit card malls. The prices in the credit card malls are basically the same as the market prices. However, it One advantage is that you can purchase goods in interest-free installments, up to 24 installments.
In layman's terms, we go to the credit card's own online mall to purchase products, but we can pay the cost of purchasing the products to the credit card mall in installments.
Shopping mall installment
Also known as POS installment, it means that cardholders go to shopping places and make purchases at "malls" where installment can be carried out. When checking out, please show the shopping mall's credit card that supports installment payment and indicate that you need to pay in installments. Then the cashier will swipe the card on a dedicated POS machine according to the number of issues required by the cardholder (such as 3 issues, 6 issues, 12 issues, etc., a few shopping malls support 24 issues).
Note: Cardholder identity verification is required when making installment purchases in shopping malls, so remember to bring your ID card.
Shopping mall installments are generally free of charge for three installments. The rates for 6 and 12 periods vary from bank to bank. Installment products can generally be purchased as long as they are normally sold in the shopping mall. In many cases, cardholders can also bundle multiple items together at checkout and then make installment payments.
2. The annualized interest rate of the bill installment fee is as high as 15%
I bought a computer for 12,000 yuan and paid it off in 12 months, with a monthly payment of 1,000 yuan. Assuming that the handling fee is 0.6%, the monthly handling fee is 120,000.6% = 72 yuan in handling fees. If you pay it back in 12 months, you will have to pay an extra 864 yuan, and the annual interest rate is 7.2%.
However, the actual interest rate is much higher than 7.2%. Since I am repaying the bank every month, the installment repayment fee has always remained the same: I owed the bank 12,000 yuan in the first month. The fee was 72 yuan. In the last month, I only owed 1,000 yuan, but the handling fee was still 72 yuan! On average throughout the year, my annualized interest rate on the handling fee was as high as 15%!
3. Repay in advance The handling fee will still be charged
The handling fee and interest are so high, so if I don’t pay the remaining balance in installments, and I pay off the balance in one go, will I stop charging it? Most banks have regulations , once the credit card bill is installmentd, if you pay the installment fee on a monthly basis, even if you repay the loan in advance, you still need to pay the fee for the remaining months.
4. The temporary quota cannot be divided into installments
The temporary quota given to you by the bank is only temporary, and it will definitely be withdrawn when it expires. Therefore, the temporary limit must be paid off in full before expiration, and bill installments are not supported.
Reminder:
1. Before choosing installment repayment, you must first carefully read the relevant details and consult the customer service hotline in detail, then comprehensively compare the number of installments and rates, and finally make the final decision. A choice that saves money and worry.
2. Mail order installments through bank malls often have fee-free discounts, but the price is slightly higher than the market price. Choose a discount based on comparative analysis of the actual situation.
3. Be sure to control your consumption desires and don’t fall into a situation where you can’t afford it just for the sake of cheapness. Although the installment doesn’t feel like much, it still adds up to a lot. Don’t use installment to numb yourself, thinking that it costs nothing. In fact, it still costs you money.
How to Install Credit Cards
How to Install Credit Cards
How to Install Credit Cards? Nowadays, almost everyone has several bank cards, and many people have started to use their cards to maintain their credit cards. However, only by knowing the card swiping methods supported by the bank can you increase the limit of your credit card. There are also many skills in maintaining a card. Let's learn more about how to repay your credit card in installments.
How to pay in installments with a credit card 1
1. Credit card installment payment
Credit card installment payment means that when the cardholder uses the credit card to make large purchases, the bank pays the merchant The process of paying the cardholder one-time consumption funds for the goods (or services) purchased, and then allowing the cardholder to repay the bank in installments and pay handling fees.
The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.
2. How to repay credit card in installments
1. Bill installment application time
From the transaction date to the repayment date, you can freely choose to pay in RMB or transactions under a USD account for installments.
For transactions that have not been billed: You can apply for installment between the day the transaction occurs and 19:30 on the billing day corresponding to the transaction.
For bills that have been issued: You can apply for installments between the day after the bill date and the due payment date (for customers whose accounts have set up automatic repayment, the application deadline is 17:00 on the due payment date) 00).
2. Conditions for bill installment application
Applicants must hold a China Merchants Bank personal credit card master card, have good card usage records, and have no delays in current repayment. Customers who only hold commercial cards, business cards, purchasing cards, ANA guaranteed cards or supplementary cards cannot apply for bill installments at the moment.
3. Amount of bill installment application
To apply for RMB bill installment, the minimum application amount each time is not less than RMB 300; to apply for USD bill installment, the minimum application amount each time is not less than RMB 300. $100. After successfully applying for RMB or U.S. dollar bill installments, the principal of each installment and each installment handling fee will be credited to the RMB account, that is, the U.S. dollar bill installment amount will be converted into RMB according to the exchange rate specified at the time of application.
How to apply for installment with credit card 2
The method for applying for installment with credit card is as follows:
To apply for installment with credit card, you can directly call the credit card customer service hotline, and the customer service staff will help the user handle it; Users can also apply for credit card installments on their own bank’s mobile banking. Banks provide users with different installment numbers, and users can decide the number of installments based on their income. Generally, the greater the number of installments, the more handling fees the user pays.
When applying for credit card installment repayment, not all arrears can be repaid. For example, the interest generated, the cash withdrawal limit, the installment limit of the previous period, etc. cannot be repaid in installments, and the user needs to pay it back in one go. clear. The installment debt is the user's normal card consumption amount in the previous consumption cycle.
After applying for installment repayment, overdue payment cannot occur; if overdue payment occurs, it will have an impact on the personal credit report. If users still have difficulty repaying in installments, they can consider using the minimum repayment amount, which is lower than the installment amount. However, all consumption using this repayment method will not enjoy the interest-free period.
After using credit card bill installment, many relatives and friends around me said that credit card bill installment is indeed not as good as Weilidai. Weilidai is a microfinance product under WeBank, the first domestic Internet bank, and it is safe and guaranteed. The operation is also very convenient, and there is no need to provide any paper information
There is no mortgage or guarantee. Invited users can enter the Weilidai entry point in WeChat payment or mobile QQ wallet and follow the prompts to borrow. It adopts the method of equal principal and interest calculation, and the daily interest rate is between 0.02% and 0.05%. No interest will be calculated on the principal that has been repaid. It supports borrowing and repaying at any time, and users can choose 5/10/20 monthly installments to repay the principal. There is no penalty for early repayment, which can meet customers' short-term payment needs.
How to pay in installments with a credit card 3
Credit card installments can be repaid in the following ways:
1. You can go directly to the business hall with your credit card and explain the requirements directly to the staff To apply for installment, just fill in the form and apply with the assistance of the staff;
2. You can call the bank customer service number and follow the voice prompts or directly transfer to manual instructions to apply for installment, and just follow the staff's instructions;
p>
3. You can use the bank APP. After logging in, select "Credit Card", click "Instalment Repayment", and follow the page prompts to apply for installments;
4. Check in to the official bank credit card website and log in. Then click "Credit Card", "Instalment" and "Bill Installment" and follow the website operations to select installment;
5. Follow the bank's credit card WeChat official account and apply for bill installment.
Credit Card Installment The main benefits:
1. Enjoy it first, pay later;
2. No guarantor, simple procedure;
3. Fixed time and fixed amount, easy payment;< /p>
4. You can choose any monthly repayment amount as you like;
5. More options for payment methods.
1. What is bill installment?
Bill installment refers to the process in which the credit card holder requires the credit card center to return the consumption amount in the current bill to the bank in installments after swiping the card, and the bank charges a certain installment fee.
2. What is cash installment payment?
Cash installment is an installment method. The cardholder applies or the card issuer invites the cardholder to apply, and the cardholder's credit card limit is converted into cash (or the credit card limit is not credited, and then transferred The cardholder specifies the account of the debit card (our bank or another bank), and then the cardholder returns it according to the designated installment number
3. What is consumption installment?
Credit card installment means that after the cardholder swipes the card, if the single consumption amount reaches the minimum consumption amount specified by the bank, the cardholder can apply to the bank to split the consumption into multiple repayments, and the bank will split the consumption into multiple payments. Credit it to your credit card account.
In this way, consumption installments are very similar to bill installments. I was almost fooled, but if you look closely, you will find that consumption installments refer to single installments. The amount is the lowest, while the bill installment emphasizes the bill installment.
So in simple terms, you can also understand it this way:
The installment bill is. After you owe money with a card, you pay it back to the bank in several installments; cash installment means converting the amount on your credit card into cash; installment consumption means that you can divide the money you want to buy a product you like on the bank's official website. Multiple payments.
I finally understand that the choice of these installments depends on your needs. Because the handling fees of these installments are similar, consumption installments are suitable for foreseeable single or multiple payments. For purchases with a certain amount, bill installments are applicable to situations where the total bill amount for the current period is relatively high.
How to repay in installments with a credit card?
Credit card bill installments refer to unbilled transactions and billed transactions. Installment. The application qualifications, installment amount, number of installments and rates shall be subject to the comprehensive assessment of the credit card center. [You can click here for the web link]
If it is a China Merchants Bank credit card, you can choose the following channels to apply for a bill. Installment:
Handheld Life: After logging in to Handy Life, click Finance → Installment → Bill Installment, fill in the amount and number of installments, and then click "Preview Order" to submit the application online.
Bank: Log in to the public version or professional version, and click "Instalment Management" - "Bill Installment - Disbursed" / "Bill Installment - Not Disbursed" - "Instalment Application" on the credit card interface
Mobile phone. Bank: After logging into mobile banking, click My → All → Credit Card → Installment to enter the operation page. Enter the application page to see the number of installments available and the installment rate.
Credit card phone channel: Call credit card customer service. Hotline, click and directly tell the business you need to apply for.