There is no limit to the number of installments you can apply for with a credit card, and cardholders can apply for multiple installments.

As long as your credit card limit is large enough, you can apply for multiple installments, but you should also pay attention when applying for installments. Credit card installments will charge a certain handling fee, so you should consider it carefully, and these handling fees cannot be due to advance payment. Exemption for repayment means that after you apply for installment with a credit card, these handling fees must be paid off together with the repayment.

The one-year credit card installment repayment fee is lower than the annual cash withdrawal interest of 18%, and higher than the bank's one-year commercial loan interest of 5.31%.

Commercial bank loan interest rates have been reduced several times since last year, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment fees vary from bank to bank, the calculation method is roughly the same.

Extended information:

Notes on credit card installment processing:

1. The amount of the installment will occupy the credit limit

For example, if You have to pay a 2,000 bill in installments over 12 months. Assuming it's 200 per month, your credit limit will be reduced by 1,800 in the first month because it's occupied. Each time you make a payment in the future, a portion of your credit limit will be restored.

2. Also, some consumption cannot be paid in installments

For example, the part that uses the temporary quota, such as the part that should be repaid in the previous installment. Or the bill installment that has been applied for cannot be re-installed. In the current month's bill repayment, this part of the payment should be paid first.

3. Choose the appropriate number of installments

Since most credit card applications for installments are successful, you cannot cancel or change the number of installments. Therefore, everyone should make a good choice before applying for installment payment. The handling fee standards of each bank are also different. According to the specific standards of the bank, choosing the appropriate number of periods can reduce the handling fee.

4. You still need to pay a handling fee for early repayment

There are two main types of handling fees charged by banks. One is to charge a one-time handling fee in the first month. , no charges will be made thereafter. The other is to charge monthly, that is, a certain handling fee is charged every month until the end of the installment. But no matter which method is used, if the consumer chooses to repay the loan early, he still has to pay the full installment fee at that time. Even if you pay off the card in advance and stop the installment, the handling fee will not be less, and repaying in advance is meaningless.

5. Avoid penalty interest

If the consumer fails to return the installment amount to the bank in time within the deadline, he will also pay a high "principal amortization late fee". If you have to repay 10,000 yuan every month, but forget it for some reason, you will pay a penalty interest of 50,000 yuan per day. In this way, you will pay an extra 150 yuan a month, which is higher than the repayment interest. . Not only will you not be able to enjoy the interest-free payment, but it will also cause a bad credit record, which is not worth the loss.

Baidu Encyclopedia-Credit Card Bill Installment