1. What is the installment fee card?
This is a new credit card specially launched by China Merchants Bank, which gives you a certain amount, which is determined according to your personal credit rating. For example, your amount is 98,000 yuan. Then you can apply for this credit card for consumption, and automatically repay it in 36 installments after consumption. There is a handling fee for installment, which is 3.0%, and the preferential rate is 0.2% for each installment. The annualized interest rate for the next year is 4.79%. In the second year, China Merchants Bank will re-evaluate the handling fee and credit line for the next stage. To put it simply, this credit card is like borrowing a sum of money from a bank, using the loan to spend it, and after spending it, you have to pay back an interest.
2. It is not recommended to handle it.
Because credit cards are used in advance, if you can repay them in time, you don't have to pay interest. However, this CMB credit card is equivalent to a CMB loan, and it has to pay high interest. Many netizens also think that this ratio is very high. Many netizens also said that it is easy to get on the credit list with this credit card, and the bank will think that you have poor financial ability and no money to spend, so you will borrow China Merchants Bank. If we use credit card services correctly, credit cards can provide us with stable cash flow. But if we can't use credit cards correctly, credit cards will become the source of our debts. If funds permit, it is recommended to use the whole generation and repay in full to get the interest-free period of the corresponding time.
Whether it is spending money, loans or installment cards, it is actually a kind of advanced consumption, which is actually a bad consumption habit. The best way is to save money honestly.