You can call credit card customer service online or by phone to apply for installment repayment. When a cardholder uses a credit card to make a large amount of consumption, the bank will pay the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder will repay the money to the bank in installments and pay 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.

The extended data assumes that the installment amount is 1.200 yuan, divided into 12 installments, and each installment (month) repays 1.000 yuan, with a handling fee of 0.6%/ month, and the actual monthly deduction is100+1.200×. If other factors are not considered, the convertible nominal annual interest rate is 7.2%. But the cardholder did not always owe the bank 1.200 yuan. In the last month, he actually only owed the bank 1 1,000 yuan, but the bank still charged the handling fee according to 1, 200 yuan.

According to the calculation, the actual annual interest rate that the cardholder has to pay is about 15.48%. According to the correct calculation formula, it should be1200 * 6% * (1+6%)12/(1+b)12-1) =/kloc.

Baidu encyclopedia-credit card installment payment