Why credit cards are automatically installmentd?

Card holders often encounter such a situation. Their credit cards have not been applied for installments, but they are automatically installmentd by the bank. In fact, this kind of thing is relatively common, so why do credit cards automatically issue installments?

1. Induced by customer service: For example, customer service calls and invites you to apply for installment through various slogans. Common ones include 30% or 20% off the current installment interest rate, or the number of installments, such as The maximum is 36 installments, while other companies can only provide up to 24 installments. If you are tricked into applying for installments, if you agree, they will automatically apply for installments for you.

2. Automatic installment when the balance is full: When applying for a credit card, the terms are numerous and complicated, and few people will read it carefully. Maybe there is a clause about automatic installment when the balance is full, and you may accidentally tick it. If selected, installments will be automatically carried out as long as your consumption reaches the standard.

3. Apply for an automatic installment credit card: At present, many banks such as China Merchants Bank, China Construction Bank, Industrial Bank, China Everbright, etc. have launched automatic installment credit cards. This type of card itself has an automatic installment function. Any consumption, regardless of the amount, will be automatically amortized.

In short, there are only three situations where a credit card will be automatically installmentd. However, except for the first situation, installment-related terms are generally listed in the credit card application terms, so before applying for a credit card It is necessary to understand the terms clearly before applying.

Why do credit cards always require installments?

Installation is originally a way of obtaining money promoted by banks. If you pay it in installments, you will make a profit. If you are using the card normally, you don’t need to consider installments. If you feel there is a risk of derating, you can pay the protection fee in installments.

Why can my Bank of Communications credit card be divided into only 6 installments

1. The bank automatically adjusts the number of installments based on the card user’s usage and cannot change it by myself

2. It is recommended to call the bank customer service manual service and ask if installments can be made at other times

Bank of Communications credit card bill installment application requirements:

1. Bill installment application time

From the transaction date to the repayment date, you can freely choose to make installments for transactions under RMB or USD accounts.

For transactions that have not been billed: You can apply for installment between the day the transaction occurs and 19:30 on the billing date corresponding to the transaction.

For bills that have been issued: You can apply for installments between the day after the bill date and the due payment date (for customers whose accounts have set up automatic repayment, the application deadline is 17:00 on the due payment date: 00).

2. Conditions for bill installment application

Applicants must hold a Bank of Communications personal credit card master card, have good card usage records, and have no delays in current repayment. Customers who only hold commercial cards, business cards, purchasing cards, ANA guaranteed cards or supplementary cards cannot apply for bill installments at the moment.

3. Amount of bill installment application

When applying for RMB bill installment, the minimum application amount per time is not less than RMB 300; when applying for USD bill installment, the minimum application amount per time is not less than RMB 300. $100. After successfully applying for RMB or U.S. dollar bill installments, the principal of each installment and each installment handling fee will be credited to the RMB account, that is, the U.S. dollar bill installment amount will be converted into RMB according to the exchange rate specified at the time of application.

What’s the matter with Bank of Communications credit card installments that can only be used for installments?

When applying for bill installments with a credit card, you can generally only make partial installments. The entire amount of the bill cannot be installed in installments. Most of the This is what banks all stipulate.

After all, credit card bills may include cash withdrawals, installment payments, as well as interest and various handling fees (such as credit card annual fees) charged in accordance with the credit card articles and use agreements for real estate, securities investment, wholesale, etc. , cash withdrawal fees, overdue liquidated damages and other credit card charges), as well as overpayments or consumption corresponding to temporary limits, and these cannot be handled in installments.

If a customer wants to apply for bill installment, they must exclude the above-mentioned amount.

As for the specific amount that can be divided into bill installments, the regulations for credit cards of different banks may also be different. For example, China Construction Bank stipulates that the maximum amount of credit card bill installments shall not exceed the total amount of RMB consumption in the bill issued (excluding cash withdrawals and installment payments). payment and other transactions specified by the Bank), the minimum needs to be RMB 300.

Why do credit cards automatically pay installments? You must understand these three situations

Card holders often encounter such a thing. Their credit cards have not been installed, but their credit cards have been automatically installed by the bank. In fact, this kind of thing is relatively common. If you find that your credit card has been in installments for no reason, it may be caused by three situations. Let’s take a look at it together.

Why do credit cards automatically pay installments?

There are two situations for automatic installment of credit cards. One is that no matter how much you consume, it will be automatically divided into fixed installments for repayment. The other is that when the consumption amount reaches a certain standard, it will be repaid in installments. There are generally three reasons for these two situations, as follows:

1. Induced by customer service:

For example, customer service calls you and invites you to apply for installment through various slogans. Common ones include offering a 30% or 20% discount on the installment interest rate, or using a long number of installments, such as a maximum of 36 installments, while others can only offer a maximum of 24 installments, etc. to induce you to apply for installments. If you are deceived into agreeing, you will Handle automatic installment for you.

2. Automatic installment when the balance is full:

When applying for a credit card, the terms are numerous and complicated, and few people will take a closer look. Maybe there is an automatic installment plan when the balance is full. If you accidentally check the terms, as long as your consumption reaches the standard, installments will be automatically carried out.

3. Apply for an automatic installment credit card:

Many banks such as China Merchants Bank, China Construction Bank, Industrial Bank, Everbright, etc. have automatic installment credit cards. This type of card itself has the automatic installment function. Any consumption incurred after processing, regardless of the amount, will be automatically divided into installments.

In short, there are only three situations where a credit card will be automatically installmentd. However, except for the first situation, installment-related terms are generally listed in the credit card application terms, so before applying for a credit card It is necessary to understand the terms clearly before applying.

Why does my Pudong Development Credit Card installment only have 12 installments

System problem. When the Pudong Development Bank credit card installment only had 12 installments, it was due to a system problem. Pudong Development's credit card could have 24 installments, but only 12 installments were approved. Shanghai Pudong Development Bank Credit Card is a standard dual-currency Visa credit card issued by Shanghai Pudong Development Bank. It enjoys a variety of discounts and can even apply for a photo card for free.

This is the end of the introduction on why credit card applications can only be made in installments and why new credit cards cannot be applied in installments. Have you found the information you need?