What is the handling fee for China Merchants Bank's credit card installment?
The handling fee is related to the bill amount. China Merchants Bank's credit card installment is divided into two types: bill installment and cash installment. The number of bill installments is 3, 6, and 12, and the corresponding handling fees are 0.9%, 0.75%, and 0.66% respectively. The number of cash installments is 3, 6, and 12, and the corresponding handling fee rates are 0.95%, 0.80%, and 0.75% respectively.
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1. China Merchants Bank credit card installments are divided into two types: bill installments and cash installments. Bill installment means that on the repayment date, the cardholder is unable to pay the entire balance at once, so he applies for bill installment and repays the installment amount in the bill in installments to reduce the pressure of repayment. Cash installment is similar to ++++. After agreeing on the amount and number of installments, the bank will directly transfer the money to your designated debit card, and you can freely withdraw cash for use.
2. Both bill installment and cash installment will incur certain handling fees, and the bill installment handling rate is slightly lower than that of cash installment. The installments of CMB bills are 2, 3, 6, 10, 12, 18 and 24, and the corresponding handling fees are 1.0%, 0.9%, 0.75%, 0.7%, 0.66% and 0.68% respectively. ,0.68%. The number of CMB cash installments is 3, 6, 10, 12, 18 and 24, and the corresponding handling fee rates for each period are 0.95%, 0.80%, 0.75%, 0.75%, 0.75% and 0.75 respectively. %.
3. How to apply for installment repayment of China Merchants Bank Credit Card? Installment is the repayment method chosen when the cardholder cannot pay all the outstanding debt in a short period of time. If you want to apply for China Merchants Bank Credit Card Installment, you can do it in one step There are four methods to apply, namely online banking application, telephone application, SMS application and WeChat application. Online banking application: Enter the China Merchants Bank Credit Card Center, log in to personal online banking, click Installment Management - Bill Installment, enter the installment amount, and select the number of installments. Telephone application: Call the China Merchants Bank credit card service hotline. After identity verification, select the credit card hotline according to the voice prompts, and then determine the installment amount and number of installments according to your needs. Telephone application: Call the China Merchants Bank credit card service hotline. After identity verification, select the credit card hotline according to the voice prompts, and then determine the installment amount and number of installments according to your needs.
How to calculate the installment fee for China Merchants Bank credit card?
The formula for calculating the installment handling fee of China Merchants Bank’s credit card:
The handling fee per installment = the total installment amount × the handling fee rate for each installment.
The total principal amount of the installment is amortized evenly on a monthly basis, and the remainder is included in the last installment. The installment amount of each installment and the handling fee of each installment are recorded at the same time. China Merchants Bank provides cardholders with personalized options of 2, 3, 6, 10, 12, 18 and 24 periods. The corresponding handling fee rates for each period are 1.0%, 0.9%, 0.75%, 0.7%, 0.66%, 0.68%, 0.68%. For example, if you spend 2,000 yuan and repay it in three installments, the handling fee is 2,000 2,000 yuan, you have to repay a total of 2,052 yuan.
China Merchants Bank handles bill installment. Bill installment is a financial management function provided by our credit card center for eligible cardholders to repay transactions in RMB accounts and U.S. dollar accounts in installments, including Unbilled transactions and billed transactions are divided into installments. Currently, our bank offers seven installments: 2, 3, 6, 10, 12, 18 and 24. The corresponding handling rates for each installment are 1.0%, 0.9%, 0.75% and 0.7% respectively. , 0.66%, 0.68%, 0.68%, of which 2 phases can only be applied through our bank’s mobile banking and mobile life channels (the maximum number of installments provided by mobile life is 36). Handling fee per period = total installment principal × handling rate per period for the corresponding period. The handling fee will be credited to the credit card's RMB account in installments after the bill installment business application is successful. For U.S. dollar bill installments, the handling fee is calculated based on the total RMB installment principal amount after conversion at the specified exchange rate. Once collected, the bill installment handling fee is non-refundable.
Whether the application is successful or not is subject to the comprehensive evaluation results of the Bank's Credit Card Center, which reserves the right to approve the application.
How much is the installment fee for China Merchants Bank's credit card~~
The installment fee for China Merchants' credit card is based on the evaluation results, as follows:
Installed by China Merchants Bank Cardholders are provided with personalized options of 2, 3, 6, 10, 12, 18, 24 and 36 periods;
The single-period handling fee is 0%~ 1.67%. The actual installment handling fee and the number of periods that can be applied for are subject to the real-time evaluation results of China Merchants Bank Credit Card Center.
Extended information:
Case in which China Merchants Bank cannot apply for bill installment:
1. Cash advance transactions, installment transactions, real estate transactions and various Fees (such as annual fees, interest, late payment fees and other credit card charges);
2. Funds that have been applied for foreign exchange purchases;
3. Other transactions specified by the Bank's Credit Card Center .
Reference materials: China Merchants Bank - Frequently Asked Questions about Credit Card Bill Installment
How to calculate the installment fee of China Merchants Bank
The handling fee of each installment of China Merchants Bank’s credit card installment = total installment Amount × handling fee rate per period.
The handling fee rate of China Merchants Bank is related to the number of installments. The corresponding handling fee for each installment is 2, 3, 6, 10, 12, 18, 24 and 36. The rates are 1.0%, 0.9%, 0.75%, 0.7%, 0.66%, 0.68%, 0.68%, and 0.68% respectively.
You can also directly open the bill installment fee calculator on the official website of China Merchants Bank, then directly enter the installment amount, and then select the number of installments. The system can automatically calculate the handling fee for each installment and the total repayment amount for each installment.
Extended information:
Credit card application conditions of China Merchants Bank
(1) Chinese residents who are over 18 years old, have full capacity for civil conduct, and have good credit standing, Foreigners and compatriots from Hong Kong, Macao and Taiwan who permanently reside in China can apply for a personal credit card master card from the card issuer with their valid identity documents. The main cardholder of the personal card can also apply for supplementary cards for other natural persons with full capacity for civil conduct or natural persons with limited capacity for civil conduct. The main cardholder can apply to cancel the supplementary card at any time.
(2) Any enterprise, administrative institution, social group, other economic organization authorized by a legal person, etc. that has independent legal person status can open a basic deposit account at a financial institution in China with a basic deposit account issued by the central bank. Deposit account opening license and other supporting documents must be submitted to the card issuer to apply for an organization card (if you need to apply for an international organization card, you must also have a foreign exchange settlement account). The qualifications of the company card holder shall be designated and revoked in writing by the legal representative of the company or his authorized person. The applicant unit shall bear all debts incurred by the unit card.
(3) When applying for a credit card for the first time, the applicant shall fill in the credit card application form correctly, completely and truthfully according to the card issuer's regulations and submit relevant supporting documents required by the card issuer, and agree to the card issuer's request to any Relevant departments, units and individuals understand and inquire about the credit status of applicants, and retain and use relevant data.
(4) The card issuer shall decide whether to issue a card based on the applicant's credit status, whether to require the applicant to provide guarantee and the method of guarantee, determine the method and type of card collection, and the credit limit to be granted to the applicant, etc. . Unsuccessful application materials will not be returned.
(5) The ways in which the applicant provides guarantee include: guarantee, mortgage and pledge. A corresponding guarantee contract should be signed separately for guarantee. The scope of guarantee covers all debts incurred by cardholders under their credit cards (including but not limited to principal and interest of overdrafts within the credit limit and overdrafts beyond the credit limit, over-limit fees, late fees and recourse fees).
(6) After receiving the credit card, the cardholder should immediately sign the same signature as the credit card application form in the signature column on the back of the credit card, and use the same signature when using the credit card for transactions, otherwise, The cardholder is responsible for any losses incurred. The card issuer also provides cardholders with inquiry passwords and transaction passwords (i.e. cash advance passwords and card consumption passwords) through designated channels.
That’s it for the introduction of China Merchants Bank’s credit card installment fees.