I believe everyone knows that after using a credit card, you need to repay it on time. If you cannot pay off the debt at once, you can choose to repay it in installments, although there will be certain procedures. There is a fee, but it is better than being overdue. Today I have compiled some information to briefly introduce it.

Can the credit card be canceled after installment?

After applying for credit card installment, but before it is completely processed or the system has not yet executed the installment, the cardholder can directly contact customer service Apply to cancel the installment.

But if the credit card installment has already started, it cannot be canceled. However, cardholders can choose to repay in advance. To repay in advance, they must have enough funds to repay in full before they can apply to the bank to settle the installment in advance. In addition, early repayment also requires payment of installment fees, but no additional early repayment fees will be charged.

How to calculate installment interest?

Credit card installment will not charge interest, but will charge a certain handling fee. The specific calculation method depends on the number of installments and the handling rate. Generally, the number of installments can be divided into: 3, 6, 9, 12, 18, 24. Some banks can also divide it into 36 installments. The handling rates corresponding to different number of installments are also different. .

Suppose the bank's handling fee for 3 installments is 0.82, 6 installments is 0.70, 9 installments is 0.67, 12 installments is 0.67, 18 installments is 0.67, and 24 installments is 0.70. For example, if you use a credit card to spend 10,000 yuan and repay it in 3 installments, you will need to pay 10,000*0.82=82 yuan in handling fees for each installment.

In short, you must repay your credit card on time after using it.