My Pudong Development Bank Credit Card was automatically installmentd on the statement date, what should I do?

I suggest you bring relevant documents to the counter at a nearby branch of the bank to inquire.

Customers complain that their credit cards were "automatically installmentd"

On the Black Cat complaint platform and major bank card forums, customers claiming to be "automatically installmentd" can be seen everywhere. In early August, Ms. Zhang, a customer of Bank H, made a purchase of 99,888 yuan. She later discovered that there was a handling fee for 12 automatic installments on the bill that month, with each installment worth 749.16 yuan, and the amortized principal of each installment was 8,324 yuan. After paying off the 12 installments, she needed to pay a handling fee of nearly 9,000 yuan, with an annualized interest rate of 9%. Ms. Zhang remembered that when she first applied for this card, the staff told her that it was just a regular credit card. They did not explain that the card would automatically be installmentd on the billing date, and she did not take the initiative to apply for it later. Ms. Zhang believes that the bank opened the automatic installment business for her without authorization just to "make more money."

Mr. Zhao, a customer of a certain bank, applied for a credit card in September 2020. After paying off the bill in early December, he never used this card for consumption. Later, he found that he still had to pay off the card every month. When he checked the bill, he discovered that the bank system had carried out 12 automatic installments, but he had no memory of applying for this service.

Many industry insiders told a reporter from a newspaper that in accordance with regulatory requirements and the bank's own internal regulations, it is certainly impossible for the bank to open this business without the consent or authorization of the customer. In practice, many customers have checked the relevant options when applying for a card, or made relevant representations when receiving marketing calls or text messages from banks, but have forgotten them over time; Misunderstood the meaning of the terms or the staff’s statements. In the past few years, the credit card business management of some banks was not standardized. It cannot be ruled out that some salesmen deliberately concealed important information to lure customers, and even checked the "automatic installment" option on the application form for customers in violation of regulations.

It is recommended that you pay attention to the risk of debt even if you repay the loan.

What is Shanghai Pudong Development Bank’s automatic installment payment?

It means that the bank will automatically repay the loan in installments before it expires.

1. What does automatic installment card mean?

Automatic installment card means that the credit card has the function of automatic installment. After the user's consumption amount reaches the minimum points amount, each consumption will be automatically processed by the system in installments. Since the consumption amount will be automatically installmentd, users will need to pay additional installment fees. For users who do not need to apply for installment business, there is no need to apply for an automatic installment card.

As users are accustomed to consuming installments, automatic installment cards save users the time to handle installments themselves. For such users, automatic installment cards are very easy to use.

2. How to pay in installments when buying a house?

1. Installment payment is a transaction payment method commonly used by modern people. Many times, if you want to buy a product or enjoy a service, but you don't have enough funds temporarily, you can use the installment payment method to transfer the payment pressure to a later period of time.

2. First, determine the amount of funds you need. If the amount of funds you need is small, you can choose some loan platforms with lower amounts.

3. If you need more funds, you can focus on platforms with higher loan amounts.

4. Secondly, you must also consider the number of installments you want. Most of the current loan platforms on the market have installment periods between 3 months and 3 years.

5. The most important point is to choose some formal big brands. The loan products launched by formal platforms will generally be more reliable and formal.

3. When buying a house, can the down payment be paid in installments?

1. For down payment in installments, developers mainly operate in two ways. One situation is that after the home buyer pays part of the down payment, the developer pays off the remaining down payment on behalf of the home buyer, and the home buyer signs a loan contract with the bank. After that, the home buyer returns the remaining down payment to the developer within the agreed time. Another situation is that the developer first collects part of the down payment from the home buyer on the pretext of paying the down payment in installments, and then agrees to pay off the remaining down payment in a short period of time.

2. Industry insiders remind that such "low down payment" and "20% down payment" are the same, but they "look beautiful", there is no essential difference, and the repayment pressure will be greater in the future.

Moreover, this type of promotion often requires buyers to sign additional agreements with developers, so it is necessary to carefully understand whether there are any restrictions or conditions for the "installment down payment" promotion of this property.

The Shanghai Pudong Development Bank Credit Card forced me to make installments without informing me. I called and said it was an automatic installment plan and it has been paid out

1. Call the Shanghai Pudong Development Bank customer service number to complain to them and then ask them to cancel. installments, and the installment costs will be compensated to you.

2. The Pudong Development Bank credit card has been set up for automatic installment. You can go to Shanghai Pudong Development Bank to cancel the automatic installment business. If the credit card is an automatic installment credit card, the automatic installment cannot be canceled. The user can only set the automatic installment amount to the maximum amount, which can reduce the number of automatic installments. As for automatic installments applied for by the user themselves, this can be cancelled. Of course, the advantage of automatic installment is that the repayment pressure in each installment is less, but every consumption amount is automatically installment, and users will have to pay a lot more installment fees.

3. This is because Shanghai Pudong Development Bank changed the automatic installment contract from the original repayment date installment to the statement date installment. You can call Pudong Development Bank’s complaint hotline and emphasize that customers were not notified of this change. For example, there was no phone call or text message to notify you. In any case, they failed to fulfill their obligation to inform you. It is required to cancel the business and restore the previous bill installments. If the bank ignores or fails to handle the matter, you can file a complaint to the China Banking Regulatory Commission after 3 working days. If possible, record your conversation with customer service, which can be used as evidence.

1. Pudong Development Bank Credit Card has all the basic functions of a general credit card, including: the global function of making purchases at more than 20 million merchants at home and abroad and withdrawing cash at 840,000 ATMs; it can be used to spend money first Repay later and have an interest-free repayment period of up to 50 days; a revolving credit function that can be recycled and controlled freely; an additional card function that can be shared with family members.

2. While experiencing a new life of spending and consumption, this card can also enjoy the interest-free repayment period for consumption. When you use this card to make purchases (excluding cash withdrawals), you can enjoy an interest-free repayment period of up to 50 days from the transaction date to the due repayment date. Cardholders only need to pay off the balance of the current period on their statement before the payment due date, and they do not need to pay interest on these purchases. This card also provides minimum repayment benefits. The minimum repayment amount is the minimum amount that needs to be repaid every month. Cardholders can freely choose to repay in this way, which not only allows them to handle their own funds flexibly, but also reduces the pressure of repayment. (The minimum repayment amount repayment benefits and the interest-free repayment period benefits cannot be enjoyed at the same time).

Why do credit cards automatically pay installments? You must understand these three situations

Card holders often encounter such a thing. Their credit cards have not been installed, but their credit cards have been automatically installed by the bank. In fact, this kind of thing is relatively common. If you find that your credit card has been in installments for no reason, it may be caused by three situations. Let’s take a look at it together.

Why do credit cards automatically pay installments?

There are two situations for automatic installment of credit cards. One is that no matter how much you consume, it will be automatically divided into fixed installments for repayment. The other is that when the consumption amount reaches a certain standard, it will be repaid in installments. There are generally three reasons for these two situations, as follows:

1. Induced by customer service:

For example, customer service calls you and invites you to apply for installment through various slogans. Common ones include offering a 30% or 20% discount on the installment interest rate, or using a long number of installments, such as a maximum of 36 installments, while others can only offer a maximum of 24 installments, etc. to induce you to apply for installments. If you are deceived into agreeing, you will Handle automatic installment for you.

2. Automatic installment when the balance is full:

When applying for a credit card, the terms are numerous and complicated, and few people will take a closer look. Maybe there is an automatic installment plan when the balance is full. If you accidentally check the terms, as long as your consumption reaches the standard, installments will be automatically carried out.

3. Apply for an automatic installment credit card:

Many banks such as China Merchants Bank, China Construction Bank, Industrial Bank, Everbright, etc. have automatic installment credit cards. This type of card itself has the automatic installment function. Any consumption incurred after processing, regardless of the amount, will be automatically divided into installments.

In short, there are only three situations where a credit card will be automatically installmentd. However, except for the first situation, installment-related terms are generally listed in the credit card application terms, so before applying for a credit card It is necessary to understand the terms clearly before applying.

This is the end of the introduction on why Pudong Development Credit Card automatically pays installments and why Pudong Development Bank cannot pay installments. I wonder if you have found the information you need?