Why do I always have bank customer service calling me to ask for installment?

The bank customer service called the subject to ask the subject to apply for installment. There are three main purposes: 1. To improve service; 2. To generate interest for credit card installment repayment and increase bank income; 3. To promote.

The author also often receives calls from some bank credit card customer service, suggesting repayment in installments. Therefore, I consulted a friend who works in a bank about the existence of this situation, and the answer he gave me was the above three points. In fact, many friends know that the main purpose of recommending customers for bank credit card analysis is to generate interest income and increase the bank's income. If we want to talk about the main purpose, it is also like this, but it is not just that. After all, the bank does not lack the income. What is more important is to improve the bank's services and achieve promotion.

The longest interest-free time for credit cards is generally about 50 days, and the repayment cycle for ordinary users is between 15 and 30 days. Of course, it is precisely because there is an interest-free period for credit cards, during which funds borrowed from the bank for consumption do not accrue interest, and only a certain commission is charged when the merchant swipes the card.

However, the situation of credit card users is different. Some users do not need to make installment repayments because they only enjoy the additional benefits of interest-free payment. However, these people cannot represent everyone. In order to better improve services, bank credit card customer service has a tendency to proactively improve services. Of course, this tilt has a lot of help. On the one hand, it has a promotion effect, letting more credit card users know that credit cards can also be used for installment. If they are short of money at this stage, there are other ways to disperse their pressure; on the other hand, It is to increase interest income in banks in addition to promotion and commission collection. After all, banks lend funds without interest. It is naturally a good thing if interest income can be increased. On the other hand, it is to reduce the bad debt rate. After all, not everyone who uses a credit card can Able to repay on time.

Bank installment purchases will incur handling fees. The answers given by other friends above are already very professional, so I won’t repeat them. Here I will only add some pros and cons of installments.

Credit card installments, especially large-amount installments, are actually very cost-effective. For example, if you buy a car, the interest on the car loan will generally exceed the interest on the credit card installment. And when you use a credit card installment plan, it means that you have a credit relationship with the bank, which is very helpful for the bank to comprehensively evaluate your credit. This is why many people's credit limit increases a lot after doing a credit card installment plan. reason.

Many people think that they should not spend money in advance and borrow money from banks casually. In fact, I personally think that the reason why consumption in advance is not recognized is that people generally lack a sense of security and are afraid of not being able to repay it. But it is true. If you can afford it, why not?

Another analogy is that you have 1 million yuan in hand to buy a house worth 1 million yuan. I believe many people will choose to buy it in full, but in fact, you take 300,000 yuan as a down payment. Leaving 700,000 yuan to do other things will definitely bring greater benefits than buying it in full. The longer the mortgage loan period, the better. After all, your current monthly payment of more than 3,000 yuan may be stressful, but in 30 years, you may spend more than 3,000 yuan on a breakfast.

The risk of installment comes from the risk of self-control and self-judgment. As long as you use the funds reasonably after installment, the investment can be avoided with reasonable judgment.

I was chatting with a friend and said that I received a very annoying phone call. I asked if it was from the credit card center, and he said yes. In the evening, just as I was driving home, I received a call from Shanghai Pudong Development Bank, saying that you had made several large purchases and to confirm whether it was you who was using it. It was originally a normal exchange. My friend said: I am driving, so you can call me. Call me. Sometimes politeness needs to be called politeness only by those who know how to be polite. The person then said that it won't take you long, and my friend said directly: Is your ear not working well? I said I was driving, but you delayed me for a few minutes and I crashed. Are you responsible for the accident? Your phone calls are recorded. If the few minutes you wasted caused me to lose concentration and cause a car crash, resulting in personal injury, you, Shanghai Pudong Development Bank, or you, an ignorant salesperson, would be liable. If you can compensate me, I won’t. I suggest you delay me for a few minutes.

Fortunately, I met a salesperson who was not very stupid. He said he would call in half an hour, but my friend said no. Didn’t you invite me to make an installment plan? It’s just for your own benefit without considering the safety of others. Judging from his character, the designation cannot be phased. Just hang up the phone and block him. My friend said how could a bank have such a salesperson who harms others and does not benefit himself. I said that banks are also profit-making institutions and businessmen, and it is normal to use whatever tricks they use. Who told you to use people's money now? What can be done. My friend said: Yes, there is nothing we can do, but by doing the side job introduced by Ah Cheng, we should be able to pay it off soon, and we can cancel the card directly after paying it off. I agree with that.

Don’t be fooled by credit card customer service calls.

1) Generally, when banks call you and want to make installment payments, they will not directly tell you that it is good for you to make installment payments. They will first ask you how many large purchases you have made and confirm whether it is you. Yes, at this time, I don’t know if you feel a little bit in your heart. Did you find out that I cashed out? If you have this mentality, congratulations, you have fallen into the trap. When you use your own POS machine to swipe your card, it is inevitable that some unreasonable bills will appear, which just gives the other party a chance to make excuses. Even if you don't spend a lot of money, do you really think that the bank clerk is a fool and can't tell that you are... Cash out? He will also say that you feel guilty if you frequently swipe your card at an acquiring agency's machine.

2) If it is true that it is not for your own consumption, this opening statement is pure nonsense. Of course, the consumption of tens of thousands of yuan is for your own use. If it is stolen, the police will be designated. When you confirm that it is for your own use, Now, here comes the topic. The bank will say that you are a high-quality customer, and the repayment of your money can be deferred. Moreover, it seems that you have made a lot of large purchases recently, so it should be very needed. As long as you pay back a few thousand yuan every month, it will reduce your financial pressure. You see, I will give you a warning first, and then ease the atmosphere, give you a step down, and give you a favor.

3) If you calm down and think about it, you will find that this routine is too deep. First, they directly ask you about large purchases. Many people who swipe their cards using their POS will feel guilty. Then they confirm whether it was you who spent the money yourself, which means they tell you that they suspect you have withdrawn cash illegally. Be careful. Will you add up the money at this time? Will the bank do it? I will be derated. Then they tell you that you are a high-quality customer and accept the bank's invitation. You don't have to pay it off in one go. You only need to pay back a few thousand yuan every month. At this time, the customer service still won't tell you to pay it back in installments.

4) If you ask about installment repayment at this time, he said that installment repayment will be good for your credit accumulation in the bank. If you don’t want to make installment payment at this time, just say no. Just hang up. If you say think about it, or say something like I'll think about it for a while, then you're screwed. The phone will keep calling you until you get it. I believe in the business of the card department. Members have this resilience. Isn’t it very annoying? I don’t know how many people have been tricked. In fact, it’s not a big deal if you don’t tell me apart. Just block him or her, or be more forceful like my friend and say something back.

When the bank calls you to ask for installment, is it really reminding you that if you don’t make installment, it will reduce your balance?

1) Think about it carefully. If I want to reduce your quota, I will reduce your quota directly without talking to you. I won’t even bother to call you. The reason why I use so many tricks is because Whether it is bill installment or cash installment, it is currently the largest source of income from bank credit cards, which is why bank customer service is always happy to call you.

2) The monthly handling fee for credit card installment is between 0.5% and 0.9%. Maybe for you, the monthly handling fee is only a few dozen yuan, one or two hundred yuan, which is not a burden. But if you carefully calculate the installment fees, you will find out how pitiful it is.

3) For example, your installment amount is 12,000 yuan, divided into 12 installments, and you pay 1,000 yuan per month. The handling fee is 0.6%. The monthly handling fee is 120,000.6%=72 yuan, 12 months You will have to pay 864 yuan when you come down. If you simply use 864/12000 to get 7.2% and think this is the installment interest rate, you are wrong.

4) Don’t forget, you are paying back money to the bank every month, and the money you owe the bank is getting less and less, but the interest for each period is still calculated based on the base of 12,000 yuan. , the actual annualized interest rate needs to be 7.2% multiplied by a conversion factor of about 1.85, and the annualized interest rate is about 13.3%.

Bank installment annualized interest rate = monthly interest rate 12 (month) 1.85 (conversion coefficient), and all banks’ interest rates have been raised this year, and will reach between 7.4 and 8.4. If you calculate this interest rate, it will be even more terrifying. The annual interest rate can reach up to 20%.

Legal provisions:

Don’t believe the lies that installment can allow you to accumulate credit in a certain bank and help you increase your balance.

1) Credit card installment business will generate installment fees, which is the bank’s net profit. Everyone knows that since the bank is a profit-making institution, it will definitely make whatever it can. After all, if you earn 1 yuan from you and another person earns 1 yuan, the bank can earn tens of millions or even hundreds of millions from the customer. So don’t underestimate the profits of these few dollars.

2) We haven’t paid attention to a very serious problem. The bank has not told us the truth, because the bank often calls us and asks us not to tell us about installments, and also recommends that we divide it into 24 installments and 36 installments. Some people will think, I spent thousands of dollars in one visit. Do I need two or even three years to repay it? Once you listen to the bank installment specialist, you will be in a quagmire. The longer the bank's bill installment period, the higher the bank's profit. If you want to make more money, it is definitely recommended that you take the longest installment, and you give the bank a Paying off a credit card is as difficult as paying off a car loan. This shows how poor you are. Will banks increase credit limit for poor people? Don't even think about it. Don't believe the saying that the amount will be increased as long as it is paid in installments.

3) Finally, a reminder, banks are profit-making institutions. I believe you can understand these so-called routines of banks. In order to make money and allow you to make on-the-spot installment decisions, they will tell you any nonsense. So if you want to avoid so many annoying things, it is better to make money to pay off your credit card and cancel the card.

Is forced credit card installment payment illegal?

Forced credit card installment payment is a typical disguised form of arbitrary charging behavior. It not only violates the central government’s policy requirements on reducing financial service costs, but also makes banks It is criticized by the outside world and reduces its social image and reputation.

Legal basis:

Article 70 of the "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks" Under special circumstances, it is confirmed that the amount of credit card debt exceeds the cardholder's repayment ability and that If the cardholder is still willing to repay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years. The contents of the personalized installment repayment agreement should at least include: (1) the balance, structure, and currency of the debt; (2) the repayment cycle, method, currency, date, and amount of each installment; (3) the repayment period Whether annual fees, interest and other fees will be charged; (4) The cardholder shall not apply for a credit card from any bank before all the amounts related to the personalized installment agreement have been settled; (5) The rights and obligations of both parties and Liability for breach of contract; (6) Other matters related to repayment. If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing business service agency shall stop collections from the cardholder, unless the cardholder fails to fulfill the installment repayment agreement. If an oral repayment agreement is reached, the card-issuing bank must retain the recording materials. The recording data will be retained at least until the date of settlement of the debt.

Credit cards are often invited over the phone for installment payments. Will there be any repercussions if I don’t accept?

If you do not accept the phone invitation for credit card installment, there will be no impact on the user. If you have a credit card and have opened a credit card limit, you will often receive calls from credit card customer service to invite you to make installment payments. Some people on the Internet say that if you refuse the call invitation from your credit card to make installment payments, your credit limit will be reduced or even your card will be suspended. This statement is actually wrong.

We need to understand what a credit card is and why credit cards are often invited to pay for installments. When the cardholder makes a large purchase, the bank pays all the large fees to the merchant in one go, and then The cardholder repays the loan to the bank in installments. Because most of us do not have the ability to pay for large purchases at once, at this time we will borrow a sum of money from the bank and then use installment payments to reduce the repayment pressure. Installment is not free, but there is a certain handling fee. At first you will find this installment more convenient and reduce your stress, but if you calculate it in one account, the interest will be higher than some loan procedures. Sugarcane is not as sweet at both ends. If you choose the other side, you will sacrifice one side.

If you have a large consumer bank, the bank will call you and invite you for installment. If you refuse the installment, it will actually have no impact on you. We need to understand why the bank invites you to install installments on your large purchases. Their main purpose is to increase the bank's income. If banks want to increase their profits, they actually need interest, and they need to obtain high interest profits from their customers. If you make a large purchase and pay it off in one lump sum, there will be no interest or income for the bank. If you make 6 or 12 installments, they can charge a higher amount than a normal loan. interest, they can earn profits from it.

When you receive a request from the bank to make an installment payment with your card, you can refuse it directly. It will not have any impact on you, and your credit card will not be stopped or your limit will be reduced just because you have not made an installment payment. As a customer of the bank, they want to earn your interest from you, and they will not lose you as a customer just because you refuse their installment payment.

That’s it for the introduction of credit card installment plans.