Currently, using credit cards has become a normal life for many people. Using credit cards does have many benefits. It not only allows us to circulate funds, but also allows us to build trust with the bank.

Double Eleven has just ended. It is said that shopping is a temporary pleasure, but spending money is a crematorium. Looking at the long list of bills, the first reaction of many cardholders is to pay in installments. Installment repayment is actually a method commonly used by many cardholders to relieve financial pressure. If you hold a credit card, you must be familiar with the installment payment business: when you make a large purchase, the bank pays the cardholder a one-time payment to the merchant. The consumption funds for the purchased goods (or services) are then allowed to be repaid by the cardholder to the bank in installments.

Nowadays, young people have such a strong awareness of early consumption, and various banks have launched the "credit card interest-free installment repayment" business. As you can see, you can pay back the things you buy slowly without any interest. What a deal!

Today, Kaka is here to talk to you about credit card installment. Remember to save it~

What exactly is credit card installment?

Credit card consumption installment means that after the cardholder swipes the card for consumption, if the single consumption amount reaches the minimum consumption amount stipulated by the bank, the cardholder can apply to the bank to split the consumption into several repayments. The bank then divides the consumption into multiple times and credits it to your credit card account.

What are the advantages of installment consumption?

Coping with product depreciation and currency depreciation

With the rise of CPI, 100 yuan will be equivalent to 90 yuan in a few years. In this case, why not use future money to pay in installments? What about today’s 100 yuan?

Accumulate credit wealth

Some people think that no loan or credit card is the best credit record. In fact, if you do not have a loan or credit card, the bank will lose a way to quickly judge your personal credit. A convenient method to improve your situation, choose installments when shopping and repay on time, which can reduce financial pressure while forming a good personal credit record, whether it is an increase in loans, credit card limits, or job hunting.

Enjoy resources in advance and seize opportunities

Spend future money and enjoy a better life in advance. At the same time, friends who want to learn and improve themselves can also master it earlier through installments. More skills.

When can I go for installment?

It is not necessary to wait for the bill to come out to apply for credit card installment. As long as a certain credit card transaction is recorded in your account, you can apply for installment for this transaction. You can make a single installment or apply for multiple installments, but different banks have requirements for the transaction amount, such as starting at 100 yuan or 1,000 yuan.

Small Card reminds cardholders: If you are doing a credit card bill installment, you need to apply before the last payment date of the current bill. After this time, you cannot apply. If you do not repay in full, you still have to pay. of interest.

What credit card transactions cannot be used for installment?

The cash withdrawal part and the interest generated by credit card cannot be divided into installments. This part of the amount needs to be repaid in full in the credit card bill. In addition, there are three situations in which installments cannot be made: temporary credit cannot be made, installments cannot be made before the bill is issued, and the part that has been installment cannot be made again.

What phases are there to choose from?

Most bank credit card installments include 3 months, 6 months, 9 months, 12 months, 18 months, 24 months, 36 months, etc. Some banks also offer one-month installments. Different banks and different installment numbers have different installment payment rates. If you have multiple credit cards, you can compare them and choose the card with the lowest fee for installment; if you only have one card, you can choose a shorter installment or a preferential installment.

Do bill installments occupy the credit card limit?

Most of them occupy the credit limit (not excluding a small number of banks or special circumstances). That is to say, if your original limit is 40,000 yuan, After the installment, your credit card limit will only be 20,000 yuan.

Then every time you pay off a bill installment, your credit limit will rise accordingly. Your credit card limit will not return to its original value until you repay all outstanding debts and handling fees.

So, if you are a cardholder who is sensitive to the limit, consider bill installment carefully.

What should you pay attention to when applying for credit card installment?

First of all, interest-free installment does not mean free installment; when you see the words "interest-free installment", do not take it for granted that there is no fee. Interest is not equal to the handling fee. Even if the installment is interest-free, the handling fee will still be charged, so the installment is not truly free.

Secondly, is the installment interest really low?

Each bank has different rules for charging handling fees. There are two forms: one is a one-time fee; the other is a installment fee, with the latter being the majority. No matter how it is collected, for most bank credit cards, the remaining handling fee is non-refundable for early repayment, and the remaining portion collected in installments must also be collected in one go. Therefore, when making installments, you must calculate the most suitable number of installments in advance. Once the installment is made, do not pay back in advance to avoid wasting handling fees.

Although credit card installment sometimes charges a handling fee, credit card installment can help you increase your credit card balance to a certain extent. The above is Xiaoka’s introduction today. Welcome to leave your comments in the message area. When consuming in installments, everyone must learn to control themselves. Consume rationally~