1. Application process

At present, most banks' credit card installment business requires certain application procedures, either by calling or writing a letter. Only China Merchants Bank and China Everbright Bank can apply without any application. formalities. Among them, China Merchants Bank's credit card installment business is a shopping mall installment type, that is, purchasing specific commodities in a specific shopping mall and using a CMB credit card at a specific POS machine to complete the installment payment business; China Everbright Bank provides an automatic installment type. The bank's "Fu" card, "Ruyi Sanbao" credit card and "UnionPay Golf" credit card all adopt a card set design, with a standard card and a special-shaped card. If consumers want to enjoy interest-free installments, they only need to choose to swipe a special-shaped card. Without any procedures, they will automatically enjoy the interest-free installment treatment at any merchant and purchase any goods. However, swiping a standard card will not generate interest-free installment business. From the customer's perspective, In terms of autonomy and convenience, it is higher.

2. Starting point of the amount

Since the credit card installment business will increase the operating costs of the card issuer, most banks have set minimum requirements for the total installment amount required by consumers. , only China Everbright Bank does not specify a starting amount.

3. Merchant Scope

Except for China Merchants Bank, the installment payment business of other banks basically does not impose restrictions on the merchants and products that can be consumed. Among them, China Guangdong Development Bank and China Construction Bank have restricted the installment business of some special consumer transactions. China Merchants Bank needs to purchase products at designated shopping malls designated by China Merchants Bank to enjoy the installment payment service.

4. Monthly Installment Fees

Although major banks have used the slogan of “interest-free installment” when promoting their installment business, in fact consumers still need to Bear a certain handling fee. The specific installment fee rates vary from bank to bank. However, consumers need to be reminded that when choosing an installment business, they not only need to consider the handling fee printed on the rate table, but also the price of the purchased goods, because the final handling fee is equal to the total price of the consumer goods. directly related. For example, if you buy a Canon 400D SLR digital camera in installments, if you choose a credit card with merchant restrictions, such as buying it at Gome, the latest quotation is 6,460 yuan, which is relatively high. According to Gome’s regulations, you need to pay the total amount in one go in 12 installments. If there is a handling fee of RMB 2.5, the total amount consumers need to pay is: 6460 6460*2.5=6621.5 yuan; and if you use a credit card without merchant restrictions, you can go to PC markets such as Pacific and Hailong to buy licensed products (you can bargain as much as possible). Generally, it only costs about 6,000 yuan, so the total amount consumers need to pay is 6,000 6,000*5.5 (first installment fee is waived) = 6,330 yuan. In comparison, the latter has a wider range of choices, cheaper prices, and is more suitable for the consumer needs of IT digital users.

5. Early repayment charges

After using the credit card installment payment function, if the consumer repays the remaining amount in advance, the handling fee for the corresponding remaining installment will not be waived. Most banks will also accept admissions without delay. Only China Everbright Bank and Guangdong Development Bank charge lower fees. Among them, China Everbright Bank will no longer charge all remaining installment handling fees, and Guangdong Development Bank will charge one installment handling fee. In this way, if you choose a credit card other than China Everbright Bank and China Guangdong Development Bank for installment business, there is no need to repay in advance.

6. Comprehensive Index Evaluation

Looking at the credit card installment business of the banks listed in this article, from the perspective of consumer convenience, autonomy and payment fees, we have A comprehensive index is evaluated for the credit card installment services provided by various banks:

China Everbright Bank: *****

Guangdong Development Bank: ****

China Merchants Bank: ****

China Construction Bank: ***

Bank of Communications: ***

China CITIC Bank: ** *