1. The installment fee rate of China Merchants Bank Credit Card is related to the number of installments. Different installment numbers correspond to different handling fees. The longer the installment time, the lower the handling fee. China Merchants Bank Credit Card can be divided into The handling rate for the 2nd period is 1%, the 3rd period is 0.9%, the 6th period is 0.75%, the 10th period is 0.7%, the 12th period is 0.66%, and the 18th period is 0.66%. The handling rate for 24 periods is 0.68%.
2. The calculation formula for each period’s handling fee is: application amount × each period’s handling rate = each period’s handling fee; the calculation formula for the total handling fee is: application amount × total handling rate = total Handling fee.
3. Overall, as the installment time increases, the proportion of handling fees gradually decreases, but in fact the total fees everyone needs to pay is increasing. Taking the installment of 10,000 yuan as an example, the total handling fees corresponding to different installment times are as follows: 2 installments are 200 yuan, 3 installments are 270 yuan, 6 installments are 225 yuan, 10 installments are 700 yuan, 12 installments are 792 yuan, and 18 installments are 792 yuan. It is 1,224 yuan, and the 24th period is 1,632 yuan.
4. From the above data, it is not difficult to see that although the handling fees for the 2nd and 6th phases are the lowest, the handling fees for the 2nd phase are even lower than those for the 6th phase. But from the perspective of cardholders’ repayment pressure, repayment in 6 installments is the most cost-effective. However, it should be noted that if the installment handling fee is paid in one lump sum in the first installment, even if you want to repay in advance later, the handling fee paid previously will not be refunded by China Merchants Bank. If the handling fee is paid on time, the remaining outstanding handling fee does not need to be paid further, but the handling fee paid previously will not be refunded. However, installment repayment can also be regarded as an act of making a contribution to the bank, so for those who want to increase their credit limit, applying for installment payment will help them successfully increase their credit card limit.
1. After using a credit card, there may be a shortage of funds that cannot be repaid. In response to this situation, banks have launched credit card installments. In addition, there are also minimum credit card repayments, all for the purpose of holding the card. People can reduce their repayment burden.
2. As long as the cardholder chooses the minimum repayment on the repayment date, it is not considered overdue. The minimum repayment of China Merchants Bank’s credit card is 30% of the total repayment amount of the current bill, but a certain amount will be charged. The interest will be accrued from the day the cardholder makes the purchase, at a rate of 0.5% per day. If the credit card repayment date comes, you can choose these two repayment methods to avoid overdue. Once overdue, the bank will record it in the credit reporting system, which will cause the bank's credit business to be rejected in the future.