At present, installment repayment is the main repayment method for credit cards, and many banks very much welcome users to use this repayment method. However, some users find that their credit cards cannot handle installment repayments. What is the reason? How to solve it? Let’s take a look.

Why credit card cannot be repaid in installments

Consumption limit is limited: The credit card installment limit cannot be greater than the credit card limit. When the credit card limit reaches the upper limit, even if the user applies for installment, he will be subject to limit.

The product is not supported: Not all transactions can be paid in installments. If the product purchased by the user does not support installment payment, the user cannot use a credit card for installment payment.

Overdue status: The credit card is overdue and cannot be used for installment business.

Banks have other regulations: In addition to the above reasons, some banks will also have other regulations when handling installments, such as busy systems, poor personal credit, etc., which will cause installment failure.

What to do if the credit card cannot be repaid in installments

If the credit card cannot be repaid in installments, those who have the ability can choose to pay off all current bills within the specified repayment period.

If it is temporarily impossible to repay the entire amount within the stipulated repayment period, the cardholder can choose to repay the minimum repayment amount first. Because as long as the cardholder guarantees to pay the minimum repayment amount of the current credit card bill before the repayment date (inclusive), there will be no overdue payment.

Some credit cards also have a grace period for repayment. If you cannot repay the minimum repayment amount before the repayment date (inclusive), the minimum repayment amount will be reduced during the grace period after the repayment date. If you return it, it will not be considered overdue.

If the cardholder really cannot afford it, he can also borrow some money from relatives and friends. First, he must ensure that the credit card is repaid on time, and then repay the money to relatives and friends. If the credit card bill has far exceeded the cardholder's repayment ability, the cardholder can also choose to negotiate with the bank to see if the interest rate can be suspended and the repayment can be delayed.

However, under normal circumstances, credit cards can apply for bill installment repayment. Unless the current bill amount does not reach the initial installment amount or the cardholder's credit is not good and there are serious bad credit records such as overdue payment and cash out, the bank will not agree to the cardholder's installment application.