Credit card installment payment is more cost-effective than borrowing money with 1 cent interest. < /p>

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder, and then allows the cardholder to pay the cardholder in installments. The process of bank repayment. The bank will deduct the consumption funds in installments from the cardholder's credit card account based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

The interest rate in private lending is calculated on a monthly basis, and the interest rate is the percentage of the monthly interest. For example, one-cent interest is 1% of the monthly interest, and two-cent interest is 2% of the monthly interest. By analogy, when calculating the annual interest, one cent of interest is equivalent to an annual interest of 12%, while two cents of interest is equivalent to an annual interest of 24%.