How to pay off credit card installments in advance?

With your ID card and card, you can go to the counter of the bank where your credit card belongs to handle early repayment.

You can also deposit the money into the credit card and call the customer service number on the back of the credit card to apply for early repayment. The customer service will operate the early repayment to end the installment. Under normal circumstances, the order of credit card repayment is to pay the bills that have been issued first, and then the bills that have not been issued. The remaining money becomes "overpayment", and the overpayment will be spent first by default when swiping the card.

The installment payment of China Merchants Bank credit card is divided into the following:

1. Shopping mall installment

The cardholder goes to a shopping place, such as a "mall" where installments can be made. Shopping. When checking out, please show a credit card that supports installment payment at the mall and indicate that you need to pay in installments. Then the cashier will swipe the card on a dedicated POS machine according to the number of issues required by the cardholder (such as 3 issues, 6 issues, 12 issues, etc., a few shopping malls support 24 issues).

2. Mail order installment

Cardholders receive the installment mail order catalog booklet sent by the card-issuing bank and choose from limited products. Then order the installment by mail from the bank by ordering from the online installment mall, calling or faxing the mail order installment application form. Mail order installment generally does not charge a handling fee regardless of the number of installments.

3. Bill installment

After swiping the card for consumption and before the monthly statement is sent, you can submit an installment application to the card-issuing bank by phone or other methods. However, it should be noted that each bank will stipulate some special cases. For example, speculative card swiping will not be successful in installments.

Advantages of China Merchants Bank’s credit cards:

1. Credit card points are very useful

Compared with the credit card points of several other banks, China Merchants Bank’s credit card points can achieve a lot Functions, many redemption products, and cashback.

2. Many outlets across the country

China Merchants Bank has many online stores across the country. Compared with other joint-stock banks, China Merchants Bank has relatively many more online stores, especially There are online stores in large, medium and small cities. Very convenient.

3. There are many offline activities

Compared with other banks, the offline activities of China Merchants Bank credit cards are much more, and high shopping points can also provide discounts, which not only achieves Customer demand can also help customers save money.

4. Credit card application is convenient

It is very convenient to apply for a China Merchants Bank credit card. Not only can you apply in the online store, you can also apply on your mobile phone, over the phone, on WeChat, or on the website. , or a salesperson comes to apply.

5. Complete card types

China Merchants Bank has many credit card types. There are different card types for different customers, which can bring maximum convenience to customers.

6. Installment payment is convenient

Currently, many online and offline shopping malls support installment payment by China Merchants Bank, which not only has low handling fees but also low interest rates.

7. Value-for-money group buying activities

Customers holding China Merchants Bank credit cards can often enjoy the group buying activities of China Merchants Bank credit card customers. The products are very rich and the prices are definitely very low. discount.

What should I do if I want to repay a credit card installment in advance?

If I want to repay a credit card installment in advance, the specific steps are as follows:

1. Credit card holders Call the customer service of the card issuing bank to apply for early repayment service. You can only repay in advance after the card issuing bank agrees.

2. After the bank agrees to repay in advance, it will calculate the final amount you have to repay, and then include it in the minimum repayment amount of the next period's bill. Just pay the minimum repayment amount. The installment has been terminated early.

If the bank does not agree, early repayment on your own will be invalid. If the amount exceeds the current repayment amount, it will become an overpayment. Not only will it not be able to offset the arrears, but there will also be a handling fee for taking out the money.

Credit card repayment methods mainly include: card issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

1. Mobile phone repayment

Mobile phone is a personal payment terminal of mobile financial system. It can be used to repay money directly by swiping the card, and can also perform transfers and other services.

Instant payment!

2. Convenience store repayment

Convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.

3. Online repayment

The more common online repayment methods in China include: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

4. Inter-bank transfer

Inter-bank transfer/remittance repayment is mainly divided into two methods: inter-bank in the same city and inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

5. Counter pass

Counter pass refers to the bank cards issued by various networked financial institutions, which can be used to make RMB transactions through the counters of other bank branches registered in the UnionPay exchange center host system. Current deposit and withdrawal transactions.

6. Lakala

Cardholders can complete credit card repayments, mobile phone recharges, online bill payments, etc. through convenience stores, bank outlets or purchase "Lakala" device terminals business.

7. Xinfutong

The "Xinfutong" smart card swiping phone was independently developed by China UnionPay, certified by the Bank Card Testing Center, and provided by China UnionPay's inter-bank information exchange network. Innovative electronic products backed by service.

8. Repayment Tong

Use "Repayment Tong" to make repayments. The fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.

9. Smart repayment

The main function of this new industry is to use about 5%-10% of the balance in the card to formulate consumption and repayment plans and then use licensed The payment company implements automatic recurring consumption repayments to achieve full repayment and charges a certain handling fee. The basic functions include bill management, local payment, free card application, etc.

How to pay off credit card installments in advance?

After the credit card installment is successful, it cannot be modified and you can only choose to repay it in advance. It should be noted that if an installment is settled in advance, the remaining outstanding principal and remaining installment handling fees generally need to be repaid in one lump sum. The installment handling fees cannot be reduced or reduced, and the installment handling fees paid in the past will not be refunded. There are even some banks that will charge a certain amount of liquidated damages if they cancel their credit card installment business (the details are subject to the regulations of the card-issuing bank, and you can call customer service).

How to pay off credit card installments in advance?

If you want to repay the credit card installment in advance, the customer can call the card-issuing bank’s hotline, apply to the customer service staff through the manual service channel, and then return the money to the card. The bank system will naturally Initiate a deduction.

Of course, customers can also directly find the installment statement on the card-issuing bank's online banking/mobile banking client/credit card APP, and then apply online to terminate the installment early.

If there is an offline branch of the card-issuing bank near where you work or live, you can bring your personal ID card and credit card to the branch to see the counter staff for early repayment procedures.

Are there any penalties for early repayment of credit card installments?

Whether liquidated damages will be charged for early repayment of credit card installments mainly depends on the regulations of the card-issuing bank. Different banks may have different regulations.

For example, China Construction Bank, if the customer applies to terminate or cancel the bill/consumption/cash installment early, the remaining outstanding principal will be included in the next bill in one go, and the customer will repay it before the due date of the bill. The remaining principal and the handling fee for the current installment are enough (the installment handling fee collected will not be refunded). Another example is ICBC. For installment transactions that charge handling fees in installments, if you handle early repayment, you will need to pay liquidated damages.

Will the available balance increase if you pay off your credit card in installments in advance?

After a credit card installment is paid, the balance available for early repayment will increase. Users can choose to return the current installment amount in advance, or pay off all remaining installment amounts at once. After the repayment is received, the available balance of the credit card will be restored in real time, so that the user's available balance of the credit card will be increased.

If the credit card installment fee is charged in one go, the early repayment fee will not be refunded if the user repays in advance, so it may not be cost-effective for the user to repay in advance.

How to repay a credit card installment in advance

First apply to the bank for early repayment.

1. If you want to repay your credit card in installments in advance, you need to call the customer service phone number to apply for the end of the installment payment service. After applying, you need to pay the installment amount and installment handling fee in one lump sum. At present, the order of credit card repayments is that bills are issued first and then bills are issued.

1. Prepayment of a loan means that the borrower applies to the bank to repay part of the loan in advance, and guarantees that the loan will be repaid that month if it is not overdue last month; the loan will be repaid in full or in part according to the date specified by the bank.

2. Early repayment is generally divided into two methods: partial early repayment and full early repayment. Depending on the repayment method, the borrower may choose to reduce the mortgage loan by term or amount. It is understood that most banks currently provide five prepayment methods for customers to choose from. The first is full prepayment, in which the customer pays off all remaining loans in one lump sum (no interest is required to be repaid, but the interest paid is not refundable). The second is partial early repayment, with the remaining loan keeping the same monthly repayment amount and shortening the repayment cycle (saving more interest). The third type is partial prepayment. The remaining loan will reduce the monthly repayment amount and keep the repayment period unchanged (reducing the monthly payment burden, but the degree of savings is lower than the second type). The fourth category, partial repayment in advance, the remaining loan will reduce the monthly repayment amount and shorten the repayment cycle (saving more interest). Fifth, keeping the total principal of the remaining loan unchanged will only shorten the repayment period (the monthly payment will increase and some interest will decrease, but it is relatively uneconomical). Financial experts suggest that early repayment should reduce the principal as much as possible, shorten the loan term, and reduce interest expenses.

3. It is confirmed that if the lending institution repays part of the housing loan in advance, it will be calculated according to the interest calculation and repayment method specified in the original loan contract. The principle of "interest takes priority, is reduced by equal amounts every month, and the repayment period is shortened" is After repaying part of the loan in advance, the loan balance and final repayment period are recalculated, the "Monthly Principal and Interest Payment Schedule" is reprinted, and the "Loan Modification Contract" is re-signed with the borrower. Loan interest decreases as the principal decreases. So, how can I pay less interest? One way is to choose the equal principal repayment method before taking out a loan. Because the "equal principal repayment method" repays a large amount of principal early on, you lose less in interest when you pay off your loan early. However, the "equal installment principal and interest payment method" will suffer certain losses when repaying the loan early due to the high interest rate and low principal of the previous period.

How to operate credit card installment repayment in advance

Call the Bank of Communications credit card customer service hotline, enter the manual service, and apply for credit card installment repayment in advance. After the bank confirms the early repayment, follow the prompts Carry out early repayment operations. 2 Log in to the Bank of Communications mobile banking, enter the credit card interface, click "Instalment Loan - Installment Settlement in Advance" and follow the prompts. Please follow the page display for specific operations

Extended information:

A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate). Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; a quasi-credit card refers to a credit card in which the cardholder can A quasi-credit card that deposits a certain amount of reserve fund and can be overdrafted within the specified credit limit when the reserve account balance is insufficient for payment.

The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).