Credit card installment payment refers to the process that the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum when the cardholder uses the credit card to make a large amount of consumption, and then the cardholder repays the money to the bank in installments.
The "relief of one-time payment pressure" brought by credit card installment business is suitable for people with temporary liquidity shortage, but the pressure of increasing the total repayment burden can not be ignored. For low-income consumers, excessive use of credit card installment business can easily make them "card slaves."
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Precautions for credit card installment payment:
1. The more installments, the lower the installment interest rate, and the installment fee varies from bank to bank. If there is no economic pressure, it is best to repay in full.
There is a limit to the installment amount of the bill. Not all the expenses on the bill can be paid in installments. Under normal circumstances, the installment amount of credit card bill cannot exceed 90% of the new consumption in this period.
3. If the credit card has a temporary limit, you can't do installment business. The temporary limit must be paid off in one lump sum, and there is no minimum repayment amount. If you don't return it, it will affect your personal credit information.
4. The installment of bills does not affect personal credit information. Only the repayment that has not been repaid or missed the last repayment date will affect personal credit information.
5. Besides bill installment, there are cash installment, transaction installment, shopping installment, contract installment and special installment. Cardholders choose different staging types in different situations and find the most cost-effective way through reasonable configuration.
People's Daily Online-It is inevitable that credit cards will be repaid in advance by installments.
Baidu encyclopedia-credit card installment payment