If I borrow 10,000 points on a credit card for 12 installments, how much interest will I have to pay back?

The annualized comprehensive interest is about 18%, so your final interest is about 1,800 yuan.

Credit cards are a relatively common form of credit, and many people have their own credit cards. The consumption method of credit card is overdraft consumption. When the user encounters short-term financial difficulties, the user can choose the minimum repayment, and you can choose to repay in installments. If your repayment period is longer than six months, installment repayment may indeed be more cost-effective. Regarding the question you asked, I will give a specific answer from the following points.

1. There are only three repayment methods for credit cards.

Let me first talk about the mainstream repayment methods of credit cards. For most users, they will receive this bill every month in the future, and there will be a final repayment date. Users need to pay before the last repayment date. Pay off your loan on time. The first way to repay is to repay in full, which is a relatively good card usage habit. The second repayment method is the minimum repayment, which is more suitable for users with short-term financial difficulties. The third way is to repay in installments. Installment repayment is suitable for users who have financial pressure in the medium and long term.

2. You need to pay back approximately 1,800 yuan in interest.

Although each bank's installment interest rate is different, the banking industry basically has unified standards, and the fluctuation ratio is not large. The comprehensive interest rate of credit cards is generally around 18%. Since you didn’t say which bank the credit card is from, if you calculate it as 18%, your interest for 12 periods will be 1,800 yuan.

3. Installment repayment is more suitable for users who have medium and long-term repayment pressure.

For those mid- to long-term users who repay in full, if they make the minimum repayment every month, compound interest and penalty interest will occur, so the actual amount that needs to be repaid in the end is very high. At this time, you can choose to repay in installments. You can choose the installment repayment time yourself. I personally recommend choosing more than 6 months, because the installment repayment of more than 6 months is relatively more cost-effective than the minimum repayment.

To sum up, you need to pay back approximately 1,800 yuan in interest, and your total repayment amount is 11,800 yuan.

What is the interest rate for 12 installments of 10,000 points with CITIC Credit Card?

The rate for 12 periods is 0.64%. 10,000 yuan is divided into 12 installments, each installment is 10,000/12=833.33 yuan, and the handling fee is 100,000.64%=64 yuan. Total: 833.3364=897.33 yuan. Periods 1 and 2: 1%/period; Period 3: 0.8%/period; Periods 6 and 9: 0.72%/period; Periods 12, 18, 24, and 36: 0.64%/period. Based on CITIC Bank's assessment of cardholders' risks, the handling rates charged to cardholders with different risk levels can be adjusted within a range of 50% above or below the above-mentioned base rate.

Extended information: The actual interest rate of installment is high and not cost-effective. The handling fee for user installment payment is calculated based on the total user installment amount at the beginning of the period multiplied by a certain rate coefficient, and is not calculated based on the remaining monthly loan amount. However, still taking the above-mentioned loan of 12,000 yuan as an example, it is obvious that if you hold the credit card for 12 months, how much will you repay in installments of 10,000 yuan per month?

The first month of 12 installments of the Bank of China credit card 1553.33 yuan needs to be repaid, and 833.33 yuan will be repaid every month for the next 11 months. The 12-month installment interest rate of the Bank of China credit card is 7.20%. The total interest for 12 months is: 100,000.072 = 720 yuan. The total principal and interest to be repaid at maturity is: 10,000 (principal) 720 (interest) = 10,720 yuan.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's 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 designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

According to different card issuers, they can be divided into bank cards and non-bank cards

Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

Non-bank card.

This type of card can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., used for purchasing tickets, meals, accommodation, entertainment, etc.

According to the different objects of issuance, it can be divided into corporate cards and personal cards

Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal entities.

Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.

According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards

Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.

Gold Card.

Gold card is a high-end credit card that pays high membership fees and enjoys special benefits. Cards are issued to those with higher credit standing, stronger repayment ability and credit, or those with a certain social status. The authorization limit of the gold card starts from a higher level, and the additional service items and scope are much wider, so the requirements for relevant service fees and security deposits are also relatively high.

How much is the interest for spending 10,000 yuan in 12-month installments with China Merchants Bank's credit card?

The total interest for 10,000 yuan spent with China Merchants Bank's credit card in 12-month installments is 792 yuan.

The handling rate for China Merchants Bank credit card in 12 installments is 0.66%. The handling fee per installment = the total principal amount of the installment × the handling rate per installment for the corresponding number of installments; then it is a bill installment of RMB 10,000. Divided into 12 installments: the principal required for each installment is: 833.33 yuan, and the handling fee required for each installment is: 66 yuan, so the total repayment for each of the 12 installments is: 899.33 yuan.

Extended information:

For transactions that have not been billed, cardholders can apply for installments between the date of the transaction and 19:30 on the billing date of the corresponding bill; for transactions that have been billed For bill transactions, you can apply for installment between the day after the current bill date and the due date of repayment.

If the account has automatic repayment set up, the application deadline is 17:00 on the due date of repayment. If you have installment plans for future transactions or bills, you can use the scheduled installment function.

When applying for RMB bill installments, the minimum amount applied for each time is no less than 300 yuan. When applying for US dollar bill installments, the minimum amount applied for each time is no less than US$100. The total amount applied for installment payment for unbilled transactions must be equal to the total amount of the original transaction. Cardholders are not supported to apply for installment repayment of part of the amount of a single transaction.