You can buy things by installment with a credit card, which means: if you don't have enough cash or bank deposits, but you have a credit card, you can first borrow from the bank to pay for the products, and then pay the principal and interest of the loan monthly by repaying the credit card to the bank until it is paid off, thus reducing the financial pressure caused by paying a large amount of cash at one time.

1. Credit card installment payment: refers to the process that when a cardholder uses a credit card to make a large amount of consumption, the bank pays the consumption funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments. According to the cardholder's application, the bank deducts the consumption funds by stages through the cardholder's credit card account, and the cardholder repays according to the monthly amount.

2. Generally speaking, the handling fee for credit card installment 1 year is lower than the annual cash withdrawal interest 18%, and higher than the commercial loan interest of the bank 1 year by 5.3 1%. It is worth mentioning that the loan interest rate of commercial banks has been lowered many times since last year, but the standards of credit card installment fees and cash withdrawal interest have rarely changed.

Although different banks have different standards for credit card installment fees, the calculation method is roughly the same.

3. The main benefits of credit card installment payment:

Enjoy first, then pay.

Without a guarantor, the procedure is simple.

Fixed time and easy payment.

Free of payment and monthly repayment.

More room to choose payment methods.