Which is better, credit card installment or small loan? Which one is more cost-effective? What should I do if I need short-term small amount of funds, but I don’t have that much money at the moment? Do you choose credit card installment or small loan? Which one is more cost-effective?

In fact, it is better to apply for a small loan or to pay in installments with a credit card. You will know by comparing the advantages and disadvantages of the two methods. Many friends are concerned about the cost of applying for a loan. Please compare the interest rates of the two. We use 10,000 yuan, half-year small loans and credit card installment calculations. The current half-year credit card installment fee is generally around 0.7%-0.8%, and the monthly interest rate for small loans is generally around 1.5%. At first glance, I think The interest rate of a small loan is higher than that of a credit card installment, but the monthly principal of the loan is reduced. The basis for calculating the credit card fee with a reduced interest rate is the original total installment amount, which will not decrease with the reduction of repayment. Taken together, In fact, the interest paid by both is roughly the same.

In addition, after applying for credit card split, the amount of the split part is frozen. If you want to print the card again, the amount may be affected. Therefore, do not overuse it. Spend in installments. Otherwise, the amount applied for a credit card may become lower, and the amount of the credit card may become lower.

Therefore, it is good to finally apply for a small loan and split the credit card, and it needs to be based on Calculate the best loan method for your situation.