How to repay the credit card by installments

Cardholders need to call the card issuing bank 2 to 3 days before the repayment date, and the amount and number of installments they apply for can be selected. However, although this repayment method is interest-free, it requires a certain percentage of handling fees. After choosing to repay by installments, you must still ensure that you repay in full and on time every month. Generally, if you miss the repayment period, it will cause overdue and lead to bad credit records. Moreover, if you want to repay in advance, the handling fee must be made up. Note: From the point of view of rate, credit card installment payment is not cost-effective, so consumers with repayment ability should try not to choose installment payment.

how to repay the credit card after installment

1. Each credit card has a billing date. At sunrise of the bill, there will be the amount you should repay in this period and the minimum repayment amount, as well as the final repayment date, bill details and so on. When you apply for cash installment business, after the installment business application is successful, it will be reflected in your next installment bill. At this time, you should repay the money according to the amount on each installment bill before the last repayment date, and don't be overdue. If you can't repay it in full, you can repay it according to the minimum repayment amount, but it is not recommended to repay it according to the minimum repayment amount, and there will be a handling fee for the remaining amount. For example, if the bill amount is 4329.1 and the minimum repayment amount is 216.45, then it must be repaid in full or according to the minimum repayment amount before August 5.

2. When you spend a large sum of money and you can't pay it off before the next repayment date, you can apply to the bank for installment payment. After the installment is successful, you only need to repay according to the amount of the bank's bill for each installment. Generally speaking, when you apply to the bank for installment, the bank will bill you on the next billing date after approval, and you need to start repayment from the first repayment date after application. For example, if you apply for installment on July 27, you will bill you on August 4, and the installment business will be reflected in the bill, and the bill amount should be paid off before August 24.

3. If you spend a large sum of money and don't apply for installment before billing, you need to apply for installment after billing. The banking system will judge whether your bill can be phased according to your consumption amount and bill amount. If you have applied for installment before the billing date, the banking system will not let you do it.

4. Usually, most large-sum transactions can be divided into installments. For example, after the sales cost is 39,5 yuan, and it is useless to apply for a single installment, you can only apply for the installment of the bill after the sunrise of the bill on August 4, so if you apply for the installment of the bill on August 6, you must pay off the installment amount and handling fee of the first installment before August 24.

how to repay the credit card after installment? can I repay it in advance at one time?

Yes, but it should be noted that you should try not to apply for prepayment after credit card installment, because many banks still charge fees or late fees for users who prepay.

except for ICBC, most banks stipulate that if the cardholder repays in advance, he must pay all the remaining principal and handling fees in one lump sum.

ICBC stipulates that if the credit card installment fee is charged according to the "installment charging" mode, it will be repaid in full in advance, and the remaining fees will not be charged. If it is repaid in part in advance, N installment fees will be charged less. If the installment repayment fee is charged according to the "down payment" mode, the prepayment will be made and the fee will not be refunded.

Extended information:

Generally, the handling fee for one-year credit card installment payment is lower than the annual cash withdrawal interest of 18%, which is higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that the loan interest rate of commercial banks has been lowered many times in recent years, but the standard of credit card installment fee and cash withdrawal interest has rarely changed. Although the standards of credit card installment fees in different banks are different, the calculation methods are roughly the same.

suppose that the installment amount is 12 yuan, and 1 yuan will be repaid in 12 installments, with a handling fee of .6%/ month, and the actual monthly deduction is:

112×.6%=17.2 yuan.

if other factors are not considered, the convertible nominal annual interest rate is 7.2%, but the cardholder does not always owe the bank RMB 1,2. In the last month, he actually owes the bank 1 yuan, but the bank still charges a handling fee of RMB 1,2.

according to the calculation, the real annual interest rate that the cardholder has to pay is about 15.48%.

The correct formula should be:

12,.6% (1.6%) 12/((1.6%) 12-1) = 13.94 yuan, and

3.2% handling fee will be paid for each installment.