credit card installment payment does not charge any interest, and users only need to pay as much as the amount of goods. However, installment payment will charge a certain fee, and different banks charge it in different ways. Some banks charge the installment fee at one time, while others charge the installment fee, but this fee is not included in the credit card quota, but only included in the credit card bill.

whether a credit card needs interest depends on how you use it.

1. There is no need to pay interest:

1. There will be no handling fee when using credit card to spend directly.

2. Credit card repayment has an interest-free period, and there is no need to pay any handling fee or interest during the interest-free period.

second, the situation of paying interest:

1. You need to pay interest when you withdraw your credit card, and the interest is calculated from the day you withdraw your cash.

2. There is a handling fee to be paid for credit card installment, and the installment number and interest of each bank are different. Please visit official website or call customer service for details. (The interest here refers to the handling fee rate)

3. The credit card is overdue.

at present, most banks use full interest, that is, if the cardholder fails to pay off all the debts on the due repayment date, interest will be calculated on the total consumption amount, that is, from the date of consumption to the date of full payment, the cyclic interest will be calculated at the rate of five ten thousandths per day. At the same time, the cardholder has to pay a late payment fee, accounting for 5% of the unpaid part of the minimum repayment amount. The specific calculation formula is: late payment fee = (minimum repayment amount-the amount repaid by the due repayment date) ×5%, with minimum and maximum limits.

third, what is installment payment

installment payment is mostly used in some product transactions with long production cycle and high cost. Such as the export of complete sets of equipment, large vehicles, heavy machinery and equipment. The method of installment payment is that after the import and export contract is signed, the importer pays a small part of the payment as a deposit to the exporter, and most of the rest will be paid in installments after the products are partially or completely produced and shipped, or when the goods are installed, commissioned, invested and quality guaranteed.