1. When applying for RMB bill installments, the minimum application amount each time is no less than RMB 300 and no more than RMB 50,000. When applying for U.S. dollar bill installments, the minimum application amount each time is no less than $100.
2. Banks generally evaluate the cardholder’s credit status based on the cardholder’s credit limit and cardholder’s credit record. Only when the evaluation is passed can the cardholder make smooth installment payment; if the evaluation result is not satisfactory, the bank may reject the cardholder's installment application, or may not be able to grant the cardholder the installment payment amount he wants. Cardholders can apply for installment by phone after fully considering their own financial situation.
3. From the second day of the billing date to the final repayment period, during this period, it can be processed through various application channels such as customer service and mobile banking APP.
4. The billing dates are the 3rd, 5th, 7th, 10th, 12th, 15th, 17th, 20th, 22nd and 25th of each month, and the repayment date can be changed every six months. The limit for regular cards is 3,000-50,000 yuan, the limit for gold cards is 10,000-50,000 yuan, and the limit for platinum cards is more than 50,000 yuan.
Extended information
China Merchants Bank charges a one-time handling fee of 0.9 for 3 periods; 0.75 for 6 periods; 0.66 for 12 periods.
Bill installments can generally be applied for by calling the customer service center or telephone banking of the card-issuing bank. ICBC cardholders can apply for installment payment at any ICBC branch, ICBC online banking, telephone banking and mobile banking. China Merchants Bank can apply for installment payment at Apply for the bank's online banking.
Relevant personnel from China Construction Bank remind cardholders that although various banks have launched bill installment payments, it does not mean that every cardholder can pay in installments through credit cards.
Baidu Encyclopedia - China Merchants Bank Credit Card
Baidu Encyclopedia - Credit Card Bill Installment