Benefits of credit card installment:

Using credit card installment can help us reduce the pressure of repayment or consumption, because in daily consumption, we may encounter large fund payments For example, when buying a mobile phone or computer, the amount spent on electronic products will be much higher than daily consumption. At this time, using a credit card for installment will reduce the consumption pressure. Moreover, using credit card installments can also help you increase your credit card limit. Frequent installments allow the bank to make profits, so the bank will naturally be willing to increase your credit limit.

Disadvantages of credit card installment:

1. You need to pay a certain handling fee. Whether you repay in installments or choose to pay in installments, you will still need a handling fee. Generally, bank installment fees are above 0.6%, and the maximum will not exceed 8%. The longer the installment number, the more handling fees you need to pay.

2. Applying for credit card installments will also affect later card applications and loans. If you always apply for installments, and the transaction amount is not high, the bank will doubt your spending power and repayment ability. This When you apply for a credit card or loan, it will have a certain impact.

3. Credit cards basically require password-free swiping by default, which makes it easy to be stolen by others when lost or stolen, causing unnecessary trouble or losses; but in fact, you can also apply for a credit card Spending by swiping your card with your password - it all depends on how you manage your credit card.

4. Repayment troubles: You have to go to the bank every month, which is often overcrowded; however, you can repay your credit card for free online by opening a savings card through online banking.

In addition, if college students do not have their own financial resources, it is not recommended to apply for a credit card. Using a credit card itself is an act of overdrafting in advance, which may lead to blind consumption and excessive consumption, which will more or less affect your life. negative impact.