Yes. After the credit card installment is paid, if the cardholder has the financial ability, he can choose to repay the credit card in one lump sum. However, if he wants to repay his credit card early, he must pay off the remaining unpaid amount and handling fees in one go, which is not cost-effective. However, if the cardholder does not care about the interest, he or she can apply to the bank to terminate the installment payment. The bank will credit the unpaid amount and fees to the next bill, and the cardholder can pay it off in one lump sum.

Is it cost-effective to pay off your credit card in installments in advance?

Not a good deal. Installment fees will be involved when cardholders apply for credit card installment payments. Some banks charge in installments, and some banks charge one-time fees. Once you apply for installment payment, you can repay it in advance. However, the installment fee still has to be charged as usual, so it is not cost-effective.