When your credit card expires and you are temporarily unable to pay, should you choose the minimum payment or installment payment? It needs to be considered comprehensively based on the size of the repayment amount and recent financial ability. 1. For bills with small amounts, it is more cost-effective to choose the minimum repayment amount

The minimum repayment method of a credit card means that when the credit card cannot repay the entire amount on the agreed repayment date, you can choose to repay part of it. However, at least 10% of the repayment amount should be returned.

After selecting the minimum repayment amount, interest will be calculated on the remaining unpaid portion at a rate of 0.5% per day.

If the amount to be repaid is relatively small and it is not worth paying in installments, you can choose to repay with the minimum repayment amount; if the amount to be repaid is large, you can consider repaying in installments. 2. If you are unable to repay the loan in the short term, it is more cost-effective to choose installment payment

You can decide which method to use based on your recent financial capacity and repayment ability. If the short-term economic pressure is relatively high, the income is low and the expenses are high, and it is difficult to repay all the loans, it is recommended to choose the installment repayment method to relieve the financial pressure.

The minimum repayment method is more suitable for people who have no money to repay before the repayment date, but have the ability to repay the credit card in a timely manner in the short term.

In other words, repayment with the minimum repayment amount is suitable for solving temporary financial pressure, and installment is suitable for solving medium- and long-term financial pressure.