The so-called credit card installment payment means that when the cardholder makes a large purchase, the card issuing bank uses the cardholder's application to pay for the goods (or services) purchased by the cardholder through the cardholder's credit card account. Installment deduction is a business in which the cardholder records the payment on a monthly basis and then repays the payment on a monthly basis.

Most banks in my country have credit card installment services. Installments are generally divided into shopping (POS) installments, online installments, mail order installments, etc. according to different occasions.

1. Shopping mall installment

Shopping installment is also called POS installment, which means that cardholders can make installments in shopping places, such as shopping malls. Credit cards that offer installment services at shopping malls require installment payments during checkout. Then the teller will swipe the card on the dedicated POS machine according to the number of periods required by the cardholder (such as 3 periods, 6 periods, 12 periods, etc., a few shopping malls support 24 periods) to complete the installment payment.

2. Mail order installment

It means that the cardholder receives an installment mail order catalog manual from the card-issuing bank (or the bank's online installment mall), and can choose from limited products. Then order through the online installment mall, purchase the installment application form by phone or fax and go to the bank for installment mail order. Regardless of the number of installments, there is generally no handling fee for postal installments. However, because the ordering cycle is long (in many cases it will take more than 15 working days to get the goods) and returns and replacements are troublesome, it is recommended to do more comparisons before buying.

3. Bill installment

This kind of installment is the most convenient. Basically, all card-issuing banks support this installment method, and it is relatively simple to apply for it. Users only need to make an installment application to the card-issuing bank by phone or other methods after swiping their card for consumption and before the monthly bill is issued. However, it should be noted that in some special cases, such as speculative card consumption, installments cannot be successfully carried out. Therefore, it is important to read the staging manual carefully before proceeding with staging.

The disadvantage of bill installment is that the handling fee cannot be waived. The longer the period for collecting handling fees in installments, the higher the handling fees will be, and they will all be borne by the cardholder.