Is it a one-time payment to buy a mobile phone in installments with a credit card?
To buy a mobile phone in installments with a credit card, it is a one-time payment, and then the cardholder will pay the money back to the bank in installments. This is very easy to understand. The merchant will only give the product to the user after receiving the full payment. In addition, when using a credit card to buy a mobile phone in installments, the current available limit of the credit card must be greater than the price of the mobile phone, otherwise the payment will fail.
What is a credit card:
A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.
Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.
Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).
Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.
The main features of credit cards:
1. It is not encouraged to deposit cash in advance. Spend first and repay later. It enjoys an interest-free repayment period and can repay in installments independently (there is a minimum repayment amount). ), join VISA, MasterCard, JCB and other international credit card organizations for global use.
2. It is one of the fastest growing financial services today and is an electronic currency that can replace traditional cash circulation within a certain range.
3. It has both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using their credit cards.
4. It is a high-tech product that integrates financial services and computer technology.
5. It can reduce the use of cash currency.
6. It can provide settlement services to facilitate shopping and consumption and enhance a sense of security.
7. It can simplify the collection procedures and save social labor.
8. Can promote product sales and social demand.
What is the process for buying a mobile phone by installment payment with an Agricultural Bank of China credit card? Pay attention to these matters
Agricultural Bank of China Mobile APP often offers various mobile phone installment offers. For example, Apple fans’ favorite installment benefits are available. Use an Agricultural Bank of China credit card to purchase designated products in installments with 0 interest and 0 handling fees. Don’t miss out on the great benefits. If you don’t know how to use an Agricultural Bank of China credit card to buy a mobile phone in installments, you might as well read the guide introduced in this article.
The process of purchasing a mobile phone by installment payment with Agricultural Bank of China credit card
1. Download an Agricultural Bank of China Mobile Banking APP on your mobile phone and enter your account password to log in;
2. In Mobile Banking Select the mobile phone you want to buy in the APP mall;
3. Click to enter the mobile phone details page, select the number of installments, and click to pay;
4. Use the bound Agricultural Bank of China credit card to pay;
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5. After the payment is successful, the installment purchase of the mobile phone will be successful.
Instalments to buy a mobile phone with an Agricultural Bank of China credit card
1. If you want to buy a mobile phone with an Agricultural Bank of China credit card by installment, you must ensure that the available credit limit is greater than the price of the mobile phone. If the limit is not enough, in order to avoid purchase failure, You can apply for a temporary limit from the bank before purchasing, or you can directly deposit money into your credit card and wait until the available limit on your credit card equals the price of the mobile phone before making payment.
2. If you buy a mobile phone by installment with the Agricultural Bank of China credit card, the successful purchase means the installment is successful. The first installment amount and handling fee will be included in the credit card bill of the first period. Don’t forget to repay the loan. The method of repayment is the same as usual. You can repay by transfer or at an ATM machine.
3. Buying a mobile phone by installment payment with an Agricultural Bank of China credit card will occupy the credit card limit, but part of the limit will be restored with monthly repayments. It will be restored when all the installments are paid off. All amounts.
The above is the relevant introduction to the "Agricultural Bank of China credit card installment purchase process for mobile phones". In addition to the installment method of buying a mobile phone introduced above, you can also use an Agricultural Bank of China credit card to buy a mobile phone on Taobao or other e-commerce malls, and then wait for the bill to come out before applying for installment payment. The precautions for buying a mobile phone in this way are the same as those introduced above.
Is it reliable to buy a mobile phone by installment with a credit card?
Reliable. A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. Credit card installment purchase of mobile phones is reliable. The form of a credit card is a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back.
If you buy a mobile phone in installments with a credit card, the full amount will be deducted at once
When you buy a mobile phone in installments with a credit card, the bank will first help you pay the money to buy the mobile phone to the merchant, and then let you repay it in installments, so Credit card installment ≠ credit card payment, but refers to credit card installment repayment. Therefore, the money for purchasing the mobile phone will be deducted directly from your credit card limit in one go.
For example, if you want to use your credit card to buy a 3988 Huawei P30 in 6 installments, it does not mean that the bank deducts 664.67 yuan from your credit card limit every month to the merchant; it means that the bank deducts 664.67 yuan from your credit card limit at once. The credit card limit is deducted for 3,988 yuan, and then you pay 664.67 yuan to the credit card every month.
However, because a one-time deduction is required when purchasing a mobile phone in installments with a credit card, the current available limit of the cardholder's credit card must be ≥ the price of the mobile phone. Otherwise, the deduction will fail and the transaction will fail. You only have to deposit money into the credit card first, and when the credit card's available limit of the deposited money is ≥ the mobile phone price, you can successfully swipe the card. After swiping the card for consumption, the bank will automatically amortize the credit card limit.
Credit card consumption installment means that after the cardholder swipes the card for consumption, if the single consumption amount reaches the minimum consumption amount stipulated by the bank, the cardholder can apply to the bank to split the consumption into several repayments. The bank then divides the consumption into multiple times and credits it to your credit card account.
Repayment methods
The common domestic bank credit card repayment methods mainly include the following categories:
1. Repayment within the card issuing bank. This method includes: card issuing bank Counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.
2. Inter-bank transfers/remittances and repayments are mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.
3. The more common domestic online platforms for online repayment include: UnionPay Online, Kuaiqian, Shengfutong, Alipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.
4. Convenience store repayment This method mainly completes repayment through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.
5. Counter repayment counter refers to bank cards issued by various networked financial institutions. RMB current deposits and withdrawals can be carried out through the counters of other bank branches registered in the UnionPay exchange center host system. .
6 "Xinpaytong" smart credit card phone for repayment is an innovative electronic product independently developed by China UnionPay, certified by the Bank Card Testing Center, and supported by financial services provided by China UnionPay's inter-bank information exchange network. .
7. Repayment Tong uses "Repayment Tong" to repay, and the fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.
8. Other repayment methods In addition to the methods mentioned above, card issuers have also opened their own unique repayment methods in order to facilitate cardholders' repayment.
This is the end of the introduction on how to calculate the interest for buying a mobile phone by credit card installment payment and how to calculate the interest rate for buying a mobile phone by installment payment with credit card. I wonder if you found the information you need?