credit card installment payment
credit card installment payment refers to the business that when a cardholder uses a credit card to make a large amount of consumption, the card-issuing bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and according to the cardholder's application, the consumer funds are deducted from the cardholder's credit card account in installments, and the cardholder repays according to the monthly recorded amount. In the past, credit card installment mainly included bill installment and single consumption installment, and banks usually charged corresponding handling fees according to the number of installments. Whether it is bill installment or single consumption installment, the premise is to generate consumption behavior first, and then the bank will set up the installment repayment of the generated credit loan.
Most domestic banks in China have credit card installment business. Installment payment is generally divided into POS installment, "mail order installment" and bill installment according to different occasions.
Shopping mall staging, also known as POS staging, means that cardholders go to shopping places, such as "shopping malls" that can be staged. At the time of checkout, hold the credit card that supports installment in the mall to explain that installment payment is required. Then the cashier will swipe the card on a special POS machine according to the number of periods required by the cardholder (such as 3 periods, 6 periods, 12 periods, etc., and a few shopping malls support 24 periods). Note: When staging a shopping mall, you need to verify the identity of the cardholder, so remember to bring your ID card. Shopping malls are generally free of charge in three stages. The rates for the 6th and 12th installments are different from bank to bank. As long as the goods that are paid by installments are normally sold in the shopping mall, they can generally be paid by installments. In many cases, cardholders can also bundle multiple goods together to settle accounts, and then carry out installment.
mail order installment means that the cardholder receives the installment mail order catalog manual sent by the issuing bank (or the online installment mall of the bank) and selects from the limited commodities. Then, the bank will order by installment through online installment mall, telephone or fax the installment application form, etc. Generally, there is no handling fee for mail order installment regardless of the number of installments. However, due to the long ordering cycle (in many cases, it will take more than 15 working days to get the goods) and the relatively complicated return and exchange, it is recommended to make more comparisons before buying.
bill installment is the most convenient installment method, and all card-issuing banks can basically support this installment method, and the application is simple. Users only need to apply for installment to the issuing bank by telephone after spending their credit cards and before sending monthly bills. However, it should be noted that banks will stipulate some special cases, such as speculative credit card can not be successfully phased. So before staging, be sure to read the staging manual carefully. The disadvantage of bill installment is that you can't waive the handling fee. The longer the number of installments, the higher the handling fee, and all of them should be borne by the cardholder himself.