After applying for installment transactions with HSBC credit card, it can reduce the repayment pressure for cardholders. So how do you repay after applying for installment transactions with HSBC credit card? How much money do you have to pay back?

1. How to calculate the installment fees for HSBC credit card transactions?

HSBC provides cardholders with a variety of installment options including 3, 6, 10, 12, 18 and 24 installments. The corresponding base handling rate for each installment is 1.0% respectively. , 0.75%, 0.7%, 0.65%, 0.65%, 0.6%. The amount to be repaid in each installment = the principal to be repaid in each installment + the handling fee in each installment. Among them, the principal repayable in each installment = the total principal amount in the installment ÷ the number of installments. The principal repayable in each installment (accurate to cents) will be charged to the cardholder's credit card account month by month, and the remainder will be included in the last installment. The handling fee per installment = the total principal amount of the installment × the handling rate per installment for the corresponding number of installments. Once collected, the handling fee is non-refundable.

2. How to repay the installment after handling the transaction with HSBC credit card?

After you successfully apply for installment, the installment amount will be included in the bill starting from the latest installment after the installment. The handling fee for each installment will be recorded at the same time as the installment amount, and will be included in the minimum repayment amount. If the cardholder fails to repay the remaining balance of the current bill on time after the application is successful, it will be regarded as incomplete repayment, and the current bill will not enjoy the interest-free repayment period for consumer transactions. If a cardholder who has successfully applied for the installment business still has excess balance after repaying the credit card balance for the current period on schedule, the amount will not be used to pay off the principal and handling fee of the next installment of the bill in advance.

3. Can I repay the loan in advance after completing the installment transaction with an HSBC credit card?

If you want to pay off the outstanding installments in advance for the installment business that has been successfully handled, you must call the HSBC customer service hotline to apply. After the application is approved, you must pay off the outstanding installments and the remaining balance in one go. The payment processing fee and the installment processing fee collected will not be refunded.