1. Applying for installment repayment with a credit card will not affect the limit increase.
2. Installment fee;
Generally, the one-year credit card installment fee is lower than the annual cash withdrawal interest of 18%, and higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that commercial bank loan interest rates have been reduced several times since last year, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment payment fees vary from bank to bank, the calculation method is roughly the same.
Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder, and then allows the cardholder to pay in installments The process of repaying money to the bank and paying handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount. Extended information
From the perspective of the form of installment payment, when a cardholder handles this business, the starting amount of a single transaction is limited, and the installment repayment grade and handling fee standards are also different; it can be roughly It is divided into three categories:
The first category is carried out by banks in cooperation with special merchants, but the product types are limited;
The second category is that banks provide product catalogs, and cardholders can list them in the catalog. The bank then entrusts the supplier to deliver the goods to the customer;
The third category is not limited to merchants and goods. After the cardholder purchases, he or she can apply for installment repayment from the bank, and even some banks Set the acceptance scope to global.
Baidu Encyclopedia-Credit Card Installment