We often come into contact with the concept of credit card installment when using credit card for consumption or bill repayment, and banks often encourage cardholders to handle credit card installment business. So what does credit card installment mean? Next, I will answer for you.

The concept of credit card installment payment

Credit card installment refers to the process that the bank pays the consumer funds of the goods (or services) purchased by the cardholder in one lump sum when the cardholder uses the credit card to make a large amount of consumption, and then the cardholder repays the money to the bank in installments. Generally speaking, when the price of the goods purchased by the cardholder is relatively high, and the cardholder cannot directly withdraw enough cash for repayment during consumption, you can divide the consumption amount or credit card bill into 3-36 installments through the installment payment conditions given to you by the bank.

Classification of credit card installment payment

Credit card installment is divided into consumption installment and bill installment. When shopping in the mall, you can directly handle the installment payment business at the counter. At this time, you don't need to apply to the bank, just negotiate the installment fee directly with the merchant. If you don't choose installment directly at the cashier, but apply to the bank, then this type of credit card installment is bill installment. After you pay the bill and swipe your card, you will ask whether you want to pay by installments by applying to the bank or calling the bank for consultation, and charge a certain handling fee. The rates of different banks are different.

The above is the answer to the question of what is the meaning of credit card installment payment. It is suggested that card friends can choose the appropriate number of installments to reduce the repayment pressure and plan their consumption reasonably when they are still not available.