Credit card borrowing is divided into two types, one is credit card cash withdrawal, and the other is credit card loan.
1. Credit card cash withdrawal
If the cardholder uses a credit card to withdraw cash, then according to regulations, credit card cash withdrawal is not allowed in installments.
After cardholders apply for cash loan services, they must repay within the specified time. There is no option for installment repayment or minimum repayment.
And after choosing cash loan, the installment rate will also increase accordingly.
2. Credit card loan
If the cardholder uses a credit card loan, he can choose installment payment.
Credit card loans actually refer to credit card personal consumption loan products launched by banks, specifically provided to bank cardholders.
The credit card loan limit is generally separate from the original credit limit of the credit card. Assume that the cardholder has a credit card credit limit of 50,000 yuan. After applying for a credit card loan, there will be an additional borrowing limit of X million yuan. .
Credit card loans are essentially consumer loans, so they can be paid in installments.
The installment interest rate is calculated according to the bank's consumer loan interest rate, and some banks will directly calculate it according to the credit card installment rate.
The main application method for credit card loans is online application. Cardholders click on the mobile banking APP of the card-issuing bank, click "My Credit Card", then find the corresponding credit card loan application on the credit card page and submit it. Just apply.
If your loan application is rejected, you can check your credit status on "Xiao Qixin Check" before applying for a loan. If your credit is not good, wait until the credit risk is determined. If you apply when there are almost no stains, it will be easier to pass.
Extended information:
Can the minimum repayment of a credit card be paid in installments?
The minimum credit card payment cannot be paid in installments.
When repaying a credit card, if you choose to repay only the minimum repayment amount of the current bill, you need to pay off the minimum repayment amount within the repayment period. The minimum repayment amount is It is not possible to apply for installment.
Of course, as long as the minimum repayment amount is paid within the repayment period, you can pay it off in one lump sum when repaying the minimum repayment amount; you can also choose to repay part of it first and then repay it. Previous part.
If the minimum payment is selected for the credit card bill, then the bill cannot be applied for installment.
Of course, if a new bill is issued on your credit card later, you can still apply for installment.
It does not mean that if there is a minimum payment for a credit card bill, subsequent bills cannot be installmentd.
In fact, whether it is minimum repayment or installment repayment, they are expedient measures for cardholders who are unable to repay in full on time. They are intended to relieve the cardholder's repayment pressure and avoid overdue payments.
Whether to choose the minimum repayment or installment payment depends on the cardholder’s own situation. If the bill amount is large, it is recommended to apply for installment payment; and the bill amount is not very large, If you have sufficient funds soon, you can choose the minimum repayment.