The UnionPay exclusive consumption installment credit card is very good, has high credibility and is relatively reliable. It is mainly divided into gold card and regular card. The difference lies in the size of the limit. However, a consumer installment credit card will definitely be subject to a credit check, and it is equivalent to paying a certain amount of interest just like a bank loan, so it is not recommended for everyone to apply for it.

1. What is a consumption installment card?

This is a new type of credit card specially launched by China Merchants Bank, which gives you a certain limit. This limit is based on your personal credit rating. For example, your limit is 98,000 yuan. Then you can apply for this credit card for consumption. After consumption, it will be automatically repaid in 36 installments. The installments require a handling fee. The handling fee is 3.0% off. The rate after the discount is 0.2 per installment. The calculated annualized interest rate for one year is 4.79. In the second year, China Merchants Bank will re-evaluate the handling fees and credit limit for the next stage. To put it simply, this credit card is like you borrowing money from the bank, using the loan to consume, and then you have to pay back an interest after consumption.

2. It is not recommended to apply for it

Because the credit card is originally used for consumption in advance, and if the repayment can be made in time, there is no need to pay interest. However, this credit card from China Merchants Bank is equivalent to a loan from China Merchants Bank, which requires high interest payments. Many netizens also think this ratio is very high. Many netizens also said that it is easy to get on the credit list with this kind of credit card. The bank will think that your financial ability is very poor and you have no money to spend, so you will borrow from China Merchants Bank. If we use credit card services correctly, credit cards can provide us with stable cash. flow. But if we cannot use credit cards reasonably, credit cards will become a source of debt for us. If funds permit, it is recommended to use full generation. Repayment in full will result in an interest-free period for a corresponding period of time.

Whether it is Huabei, loans, or installment consumption cards, it is actually a kind of advanced consumption, which is actually a bad consumption habit. The best way is to save money honestly by yourself