Nowadays, more and more people use credit cards. Banks also provide several repayment methods for users. The most commonly used method is to pay off the debt in one lump sum, but some friends like to repay it by installments. Friends who have never used installment repayment will have the question "Is credit card installment still worth using?" Bian Xiao will answer these questions for you today.

Is credit card installment cost-effective?

It depends on the uneconomical credit card installment. Although credit card installment repayment will not generate interest, it will charge a certain handling fee. The rate of each bank is different, generally around 0.6%, and the converted annual interest rate is 7.2%. Compared with usury, it is still very humanized and cost-effective. But for those who can repay in full before the repayment date, staging is not cost-effective. If you really can't repay in full, you can choose credit card installment to avoid overdue and will not affect your personal credit.

How many issues can it be divided into at most?

Most banks' credit cards can be repaid in 24 installments at the longest, and a few banks can repay in 36 installments at the longest. The handling fee rates corresponding to different stages are also different. Credit card installment can be divided into three periods, six periods, 12 period, 18 period and 24 periods, with the longest period not exceeding 36 periods. The handling fee rate depends on the regulations of the issuing bank.

The credit cards of China Merchants Bank and Bank of China can be divided into three periods, the longest of which is 24 periods. The credit card of China Everbright Bank can be divided into three periods, and the longest period can be divided into 15. The credit card of CITIC Bank can be divided into 3 periods at the shortest and 36 periods at the longest.