After the credit card bill installment application is successful, the principal and handling fee of the bill installment will be repaid from the billing date of next month to the repayment date. After the bill installment is successful, the cardholder only needs to repay the remaining bill amount after deducting the bill installment amount before the due repayment date.

After that, the repayable principal of each installment of the bill = total installment principal ÷ number of installments. The principal payable in each installment (accurate to the minute) is credited to the cardholder's credit card account every month, and the balance is credited to the last installment. Installment fee = total installment amount × installment fee rate, and the first installment is charged in one lump sum.

Postponement information installment payment is actually a loan provided by the seller to the buyer. The seller is the creditor and the buyer is the debtor. The buyer can get the goods or services he needs only by paying a small amount of money, but because the interest is included in the future installment, the amount paid for the same goods or services by installment is more than the amount paid in one lump sum.

On the one hand, installment payment allows sellers to complete promotional activities, on the other hand, it also provides convenience for buyers.

Installment payments are usually provided by banks and installment suppliers. Banks provide consumers with personal consumption loans equivalent to the amount of goods they buy, and consumers use the loans to pay their suppliers, who provide guarantees for consumers and bear irrevocable joint and several liabilities. Young people who spend by installment are often called "installment families".

References:

Baidu encyclopedia differentiated payment