This credit card is more suitable for users who frequently spend money online, and it is considered a relatively affordable credit card.

There are many types of credit cards, but if the user has no special needs, the functions of various credit cards are actually very similar, and there is no need to choose a fixed card. If you especially like to spend money online and sometimes spend money offline, China Merchants Bank’s exclusive consumption installment credit card is really good because the installment fee of this credit card is very low.

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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. Is this kind of credit card worth getting?

Because credit cards are designed to be used for advance consumption, if you can repay the loan in time, you do not need to pay interest. However, this credit card from China Merchants Bank is equivalent to a loan from China Merchants Bank, which requires a high payment. Many netizens also think that the interest rate is very high. Many netizens also said that it is easy to get on the credit list by using this kind of credit card. The bank will think that your financial ability is very poor, so you have no money to spend, so you will apply for a loan from China Merchants Bank.

3. Reasonable use of credit cards:

1. We must make full use of the interest-free period of credit cards.

Credit cards from different banks have different interest-free periods, but they are basically more than 30 days, and some banks can even reach more than 50 days. If we can repay the credit card in full before the due date, this basically means that we enjoy an interest-free period of 30 to 50 days in advance. For those who can use credit cards flexibly, we can completely regard this period of time as our stable cash flow.

2. It is best not to use installment payments and minimum repayments, and do not actively withdraw cash.

Some people cannot repay the credit card in full before the due date, so they will use installment payments and minimum repayments. These two methods seem to be able to alleviate a person's financial problems, but they have very high annualized comprehensive interest. Generally speaking, the annualized comprehensive interest rate of credit cards can reach about 18%, which is already very high. with