Second, the relevant content of credit card installment payment
1. Credit card installment refers to the process that when a cardholder uses a credit card to make a large amount of consumption, the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments and pays the handling fee. According to the cardholder's application, the bank deducts the consumption funds and handling fees by stages through the cardholder's credit card account, and the cardholder repays according to the monthly recorded amount.
2. In the early days of credit card installment business, banks often advertised under the banner of "interest-free", and indeed many citizens were "fooled". In fact, interest-free is not free, just a different name. Generally speaking, the handling fee of credit card installment 1 year is lower than the annual cash withdrawal interest 18%, and higher than the bank commercial loan interest 1 year 5.3 1%. It is worth mentioning that the loan interest rate of commercial banks has been lowered many times since last year, but the standards of credit card installment fees and cash withdrawal interest have rarely changed. Although different banks have different standards for credit card installment fees, the calculation method is roughly the same.
3. Shopping malls are generally free in three phases. The rates for Stage 6 and Stage 12 vary from bank to bank. As long as the goods are sold normally in shopping malls, they can generally be paid by installments. In many cases, cardholders can also bundle multiple items together to settle accounts, and then pay in installments.
4. It 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 chooses from the limited commodities. Then the bank orders in installments through online installment mall, telephone or fax installment application form, etc.