Use credit cards skillfully and pay in installments for online shopping

As the volume of online shopping transactions continues to grow, this popular offline payment method has gradually expanded to include online consumption on the Internet. Alipay, a third-party payment company, announced that credit cards from China Merchants Bank, Bank of China, Agricultural Bank of China and Ping An Bank can be used for credit card installment payments through the Alipay platform. Consumers can apply in real time by selecting "installment payment" before paying for online shopping, converting ordinary consumption into installments. Payment. Not only Taobao and Tmall, but also shopping malls such as Joyo Amazon, JD.com, Newegg, and Suning.com can also implement credit card installment payments. You must have a credit card, and you must have had online shopping experience, but you may not necessarily use installment payment services when shopping online. Many cardholders know very little about this content. Let’s learn about installment payment for online shopping, taking Taobao as an example.

Step1 Choose a seller that supports credit card installment, select the product you need, and click "Buy Now".

Step2 On the order confirmation page, check "Credit Card Installment" payment.

Note: Combined payment is supported. All combined transactions must support credit card installments. When paying for multiple transactions, as long as the cumulative bank channel payment is greater than 600 yuan.

Step3 Select the bank, fill in the information and confirm the payment. If you don't want to use credit card installments, there is still an opportunity to change it, click "Don't use installments" next to the "Next" button.

Step 4 Select "Use Installment", the default is 12 installments, and the number of installments, handling fees, rates and the amount of each installment will be displayed.

Step5 Click the drop-down box of the installment number to modify the installment installment number.

Step 6 Click "Installation Rules" and the specific rules of installment will be displayed.

Step7 Enter the payment password to complete the payment.

Online shopping saves a lot of time compared to shopping in physical stores. If we don’t have a credit card, we need to go to the bank to deposit money into the debit card and then pay online, which is very inconvenient. The combination of credit cards and online shopping not only speeds up shopping, but also saves us on various other expenses, such as transportation fees, parking fees, meal fees, etc.

Instalment payment is one of the important functions of credit cards. However, in the past, credit card installments were mainly concentrated in offline shopping malls or users applied to the bank after the monthly credit card statement was released. The process was relatively cumbersome, and daily online shopping was straightforward. Completing the application and procedures for credit card installment is still new. Credit card installment payment relieves the pressure of consumption and repayment on the other hand. It can be said to kill two birds with one stone and fundamentally meet the shopping needs of various groups of people.

However, it should be noted that the number of credit card installments of different banks is slightly different. Bank of China and Agricultural Bank of China support 3, 6, 9 and 12 issues, while China Merchants Bank and Ping An support 3 and 6 issues. and 12 issues, each issue is one month long. Like offline credit card installments, online installments do not charge interest, but you need to pay a handling fee for each installment. Different banks have different rate standards. Most of the handling rates spread to each month are around, and the fees vary depending on the number of installments. The rate will be different again. Consumers should compare carefully to find the best solution.

How to pay for a mobile phone in installments with a credit card

Tools/Materials

A credit card (Bank of China)

A computer connected to the Internet< /p>

Method/Steps

1. Find the mobile phone you want to buy and select "Instalment Payment"

2. At this time, a small window will pop up. The form states the three credit card installments supported by JD.com. Select "Apply for Credit Card Installment"

3. Confirm the order installment information.

4. Confirm the installment information, whether to choose to pay off in 3, 6 or 12 installments.

According to your actual income, select "Save Installment Information".

5. Submit order information.

The interest that needs to be repaid in installments is listed above. The smaller the installments, the less the interest.

6. After submitting the order, confirm the installment information.

JD.com requires manual telephone consultation for installment information.

Notes

Some shopping malls also support credit card installment payment, you can directly consult the person in charge of the shopping mall to achieve this.

You can also purchase mobile phones in installments through the official credit card website, or purchase through the official mobile phone website, and you can also pay in installments with a credit card.

Credit card installments reduce the temporary payment pressure, but you need to pay corresponding interest, so for payments that can be paid in one go, it is best not to pay in installments.

And if you forget to repay the loan during the installment, the interest will double and you will also accumulate bad credit.

Why do you have to pay in full when you pay in installments with a credit card on Jingdong Mall

When you pay in installments with a credit card, the cardholder does not bear the entire consumption amount at once. The bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder. The bank deducts the consumption funds and handling fees in installments from the cardholder's credit card account, and the cardholder repays them according to the monthly credit amount.

Therefore, the credit card installment business does not involve payment in installments, but rather a one-time payment that is repaid by the cardholder in installments.

The main benefits of credit card installment payment:

1. Enjoy first, pay later.

2. No guarantor required and the procedure is simple.

3. Fixed time and fixed amount, easy payment.

4. You can choose the monthly repayment amount at will.

5. More space to choose payment methods.

Extended information:

Instalments are generally divided into shopping mall (POS) installments, "mail order installments" and bill installments through the Internet, mail, etc., depending on the occasion.

1. Shopping mall installment

Also known as POS installment, it means that cardholders go to shopping places and make purchases at "malls" where installment can be carried out. When checking out, please show the shopping mall's credit card that supports installment payment and indicate that you need to pay in installments. Then the cashier will swipe the card on a dedicated POS machine according to the number of issues required by the cardholder (such as 3 issues, 6 issues, 12 issues, etc., a few shopping malls support 24 issues). When conducting installment payments in shopping malls, cardholder identity verification is required.

Shopping mall installments are generally free of charge for three installments. The rates for 6 and 12 periods vary from bank to bank. Installment products can generally be purchased as long as they are normally sold in the shopping mall. In many cases, cardholders can also bundle multiple items together at checkout and then make installment payments.

2. Mail order installment

It means that the cardholder receives the installment mail order catalog manual sent by the card-issuing bank (or the bank's online installment mall) and chooses from limited products. Then order through the online installment mall, call or fax the mail order installment application form, etc. to the bank for installment mail order.

There is generally no handling fee for mail order installments regardless of the number of installments. However, due to the long ordering cycle (in many cases it takes more than 15 working days to get the product) and the relatively cumbersome return and exchange process, you need to do more comparisons before purchasing.

3. Bill installment

This is the most convenient installment method. Basically, all card-issuing banks can support this installment method, and the application is simple. Users only need to submit an installment application to the card-issuing bank by phone or other methods after swiping their card for consumption and before monthly bills are issued.

However, each bank will stipulate some exceptions. For example, speculative card swiping will not be successful in installments. Therefore, you need to read the staging manual carefully before proceeding with staging.

The disadvantage of bill installment is that the handling fee is not waived. The longer the number of installments, the higher the handling fee, all of which must be borne by the cardholder.

Baidu Encyclopedia - Credit Card Installment Payment

If I use a Bank of China credit card to purchase products in installments on the Points Mall, do I have to pay a handling fee? How do I repay the payment after completing the process?

< p>Currently, there are two cash payment methods in Points Mall: one-time payment and installment payment. The handling fee is borne by the merchant. Bank of China Points Mall promotes the promotion of “0 interest, 0 handling fees, and 0 shipping costs”.

Using installment payment is regarded as normal card consumption, and you can still enjoy the interest-free repayment period. 10% of the principal amount recorded in each installment will be included in the minimum repayment amount of the month, and you can also enjoy consumption smartness. Purchase and accumulate to participate in the redemption plan. The first repayment amount will be recorded in the next bill after the transaction is successful. Failure to repay in time on the due date will incur repayment penalties and interest.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

This concludes the introduction to credit card mall installment payments and how to pay credit card mall installment payments. Have you found the information you need?