Generally speaking, there is only a handling fee for credit card installment and no interest.
Moreover, different banks have different regulations on credit card installment fees, and different installment numbers have different handling rates. For example, the installment fee of China Merchants Bank's credit card is as follows: 65438+0.0% for the 2nd installment, 0.9% for the 3rd installment, 0.75% for the 6th installment, 0.7% for the 10 installment, 0.66% for the 12 installment and 0.68% for the 24th installment.
If you withdraw cash by credit card, you have to charge interest. In addition, if only the minimum repayment amount is paid, the bank will charge interest. The specific charging method is that the daily interest is calculated at 0.05%. Moreover, if the repayment exceeds the grace period or the repayment amount is less than the minimum repayment amount stipulated by the bank, it will be regarded as overdue and the daily interest will be 0.05%.
Compared with ordinary bank savings cards, the most convenient way to use credit cards is for ordinary consumption, and there is no cash in the cards. In many cases, it is enough to return the consumption amount on time.
You can spend without deposit overdraft, and enjoy an interest-free period of 20-56 days to repay on time without any charge (most banks will charge 0.5% interest on the day of cash withdrawal, and there will be a 2% handling fee, but ICBC will only charge interest).
It is not only safe and convenient to swipe your card when shopping, but also a bonus gift.
Special merchants who hold cards in banks can enjoy preferential treatment.
Accumulate personal credit, add credit records to credit files, and benefit for life.
Access to the whole country is barrier-free, and you can withdraw money or spend money by credit card on ATM and POS machines with UnionPay logo; (Note: Credit cards are only suitable for credit card spending, and it is best not to withdraw cash, which is very expensive and uneconomical).
Credit card spending, some credit cards get existing points, and various discounts and lottery activities throughout the year, so that you can always have surprises as long as you use the card; Most credit cards pay online without points, but online payment is very convenient and fast.
Mail the statement free of charge every month, so that you can grasp every consumption expenditure transparently; (Now advocating environmental protection, you can cancel the paper statement and change it to electronic statement).
Unique supplementary card function, suitable for husband and wife to jointly manage money or master children's financial expenses.
The free choice of one card and two currencies is popular all over the world, and consumption abroad can repay in RMB.
400 telephone or 5-digit short number prefixed with "9" provides 24-hour service, and the report of loss takes effect immediately, with zero risk of card loss.
Validity period: It is known that the validity period of domestic credit cards is generally three to five years.
Is there any interest on credit card installment?
Credit card installment payment generally has no interest and only charges a handling fee. Whether there are points depends on what you buy in installments. For example, there are generally no points for buying a car and swiping a card in a restaurant or supermarket. In addition, when the bill is divided into installments, banks often have activities to send points.
The following are the installment fee standards of several banks:
1. ICBC credit card installment fee: 3 installments are free, 6 installments 1.8%, 9 installments 2.7%, 12 installments 3.6%, 18 installments 5.85%, and 24 installments 15.6%. (One-time charge)
2. Agricultural Bank of China credit card installment fee: 0.6% per month (charged monthly).
3. China Bank's credit card installment fee: 65438+3 installment 0.95%, 6 installment 3.6%, 9 installment 5.4%, 12 installment 7.5%, 24 installment/1.7% (one-time charge).
4. Installment fee of CCB credit card: 0.7% for the third installment and 0.6% for the sixth installment, 12 installment (charged monthly).
5. Credit card installment fee of CITIC Bank: 1, 1.50%, 3 0.82%, 6 0.82%, 12 0.77% (charged monthly).
6. Installment fee for Pudong Development Credit Card: 0.72% for the third installment, 0.7% for the sixth installment and 0.66% for the 12 installment (charged monthly).
7. Credit card installment fee of China Merchants Bank: 2 1.0%, 3/0.9%, 6/0.75%, 10 0.7%, 12/0.66%, 18/0.68% and 24/0.68%.
8. Bank of Communications credit card installment fee: 0.72% per month (charged monthly).
9. Installment fee of Guangfa Credit Card: 0.65% for the 6th installment 12 installment, 0.7% for the 8th installment/kloc-0 installment, and 0.72% for the 24th installment (charged monthly).
Is there any interest on credit card installment repayment?
Interest bearing. Usually there is no interest on consumption. If you pay back the money within the repayment date, there will be no interest. There is interest on withdrawal, and there is a handling fee. There is no interest on installment repayment, and there is a handling fee.
And the more installments, the more money you have to pay. So I suggest that you choose a shorter installment time if your financial resources allow, or pay it all back.
There are two ways to repay:
The minimum repayment amount is only110 of this month's repayment amount, namely 1000 and 100, which is low and bears interest;
Repayment in installments, 3 months 1000, naturally more than 300 per month, and there is a handling fee.
The interest of the minimum repayment amount is the total repayment amount calculated at the interest rate of 5/ 10000 per day, which can be used in short-term, long-term and one year, and the interest generated is amazing. For installment payment, interest is the monthly handling fee. If there is more money, it may not be paid for a month, and the handling fee is still not high.
If there is a delay of one month, the minimum amount can be used if the amount is not very large. If it is too late to repay the loan before next month's bill date, it can be staged, which will take a long period and reduce the pressure.
So be sure to grasp the repayment date. If you can't repay all the money, how to repay it is the most appropriate.
Is the credit card installment interest high?
The interest rate of credit card installment repayment is not high, and the annualized interest rate of credit card installment repayment 12 is between 13%- 17%. Compared with the other eight joint-stock commercial banks, the annualized interest rates of the four major banks are lower, and the annualized interest rates of Agricultural Bank and China Construction Bank are the lowest, which are 12 banks, both of which are 13.03%.
Credit card installment payment refers to the process that when the cardholder uses the 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.
In the early days of credit card installment payment, 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.
Suppose the installment amount is 1, 200 yuan, divided into 12 installments, and each installment (month) repays 1 0,000 yuan, and the handling fee is 0.6%/ month. The actual monthly deduction is 1 006,5438+0,200×. 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 be12006% (16%)12/(1b)12-1) =103.94 yuan.
The main benefits of credit card installment payment:
Enjoy first, then pay.
Without a guarantor, the procedure is simple.
Fixed time and easy payment.
Free of payment and monthly repayment.
More room to choose payment methods.
From the form of installment payment, there is a limit on the initial amount of a single transaction for cardholders to handle this business, and the level of installment repayment and the standard of handling fee are also different; It can be roughly divided into three categories:
The first category is the cooperation between banks and special merchants, but the product types are limited;
The second category is the catalogue of the bank, which is purchased by the cardholder, and then the bank entrusts the supplier to deliver the goods to the customer;
The third category is not limited to merchants and commodities. Cardholders can apply for installment repayment from banks after shopping, and some banks even set the acceptance scope to the whole world.
Is there any interest on the installment payment of credit card bills?
Although credit card bill installment says no interest is charged, there is usually a certain handling fee for bill installment. After the credit card bill is divided into installments, it is worth noting that "interest-free" does not mean free. Moreover, the commission rate is often not as affordable as the surface figures seem.
Can credit card bills be repaid in advance after installment?
You can repay in advance.
1. Once the bill installment application is irrevocable, if you need to terminate the installment in advance, you need to call customer service to apply for early termination, and the arrears and handling fees of the remaining installments will be settled in one lump sum on the next billing day, requiring the cardholder to repay;
2. It should be reminded that the installment fee is non-refundable. Even if the installment is terminated early, the installment fee will still be charged.
Problems needing attention after credit card bill installment:
What should I pay attention to when I successfully apply for bill installment by credit card? This may be unclear to some cardholders. Next, let Bian Xiao give a detailed introduction to friends.
After the cardholder successfully applies for bill installment payment, the principal of bill installment payment will be fully included in the used credit line; Recover the available credit line according to the cardholder's repayment amount in each installment.
The installment principal and monthly handling fee of the bill installment will be fully included in the current minimum repayment amount. When the cardholder repays, the repayment of this business is better than general consumption.
After the cardholder successfully applies for the installment payment of the bill, the number and amount of the installment application cannot be changed or revoked. When the cardholder returns or cancels the transaction, he still needs to pay the principal and handling fee according to the bill installment business that has been successfully applied.
Credit card credit information content:
Nowadays, the second generation of credit information has been launched, and the content of credit card in credit information has increased a lot, which reveals the cardholder's credit card usage more comprehensively:
1, the repayment record of the credit card within 5 years will be displayed, which can reflect the personal credit situation more comprehensively;
2. The monthly repayment amount of the credit card will show that it is not feasible to make 0 bills for arbitrage in the card by prepayment;
3. After the credit card is cancelled, the repayment record will still be displayed, which means that the cancellation method of white credit information is invalid.
4. The large-scale special installment of credit cards will show that it is not feasible to hide real liabilities by installment.
This concludes the introduction of how much interest is needed for credit card installment and how much interest is needed for credit card installment. I wonder if you found the information you need from it?