Instalment repayment is more cost-effective, and the interest on installment repayment will be lower than the minimum repayment.

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 name of the issuing bank, validity period, number, cardholder 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 appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

The credit card stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on lt; the People's Republic of China and the Criminal Law of the People's Republic of China; and the relevant provisions on credit cards") refers to a credit card issued by a commercial bank or other financial institution. Electronic payment cards issued by institutions with all or part of the functions of consumer payment, credit loans, transfer settlement, cash deposits and withdrawals_1-2]_. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is Credit Card.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People's Court issued and implemented the "Regulations of the Supreme People's Court on Several Issues in the Trial of Bank Card Civil Disputes".