The maximum installment amount can reach 95% of the total amount of new RMB credit card consumption in the current period. After the application is successful, the current bill only needs to repay the installment amount, and the installment down payment and handling fee are included in the next bill. Handling fee per installment = total installment amount × handling fee rate per installment. The total installment principal is amortized monthly, and the balance is included in the last installment. At the same time, the installment amount and the handling fee of each period are recorded. We provide cardholders with personalized choices of 2, 3, 6, 10, 12, 18 and 24 installments, and the corresponding handling fees for each installment are 1.0%, 0.9%, 0.75% and 0.7% respectively.
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When is the most cost-effective time to apply for installment:
However, as long as there is a large amount of consumption, the bank supports users' staging and is willing to handle staging. Staging can be done before or after the billing date. If the installment payment is made before the billing date, you need to return the installment arrears of the current month. If you apply after the bill date, you can repay it before the repayment date next month. Although there is a handling fee to be collected in stages, it also extends the repayment period from the side, which is really much less for the small partners with tight economy. So in general, no matter what the reason, it is the most cost-effective to apply for installment repayment or repayment after the bill.
It is most cost-effective to repay in several installments:
Credit cards of different banks have different installment dates for users, ranging from 3 to 36, but most banks have 24 installments. There is a handling fee for credit card installment. Although it is interest-free, the handling fee is not cheap. The longer the installment, the higher the handling fee. For small partners who need to be phased, it is suggested to divide them into about 6 stages, which will not only reduce the handling fee, but also help to withdraw cash from credit cards in the future. If the economy is tight, you can take a long time occasionally, but not too many times. If you often apply for long-term installment repayment, it will leave the bank with the impression that the cardholder's financial ability is not good, and the possibility of rejection will increase in the future. Of course, the specific situation should be decided according to your actual economic situation.