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How is installment payment calculated on Apple’s official website?

1. Users use credit cards to purchase Apple mobile phones in installments. When the credit limit is insufficient, they can give priority to repaying part of the outstanding balance so that the available credit limit is greater than or equal to the payment amount. Or apply for a temporary limit from the bank. The temporary limit plus the fixed limit is greater than or equal to the payment amount. The user can also make installment payments. Credit card installment payment does not support combined payment. The available balance must be greater than or equal to the payment amount before the payment can be successful.

2. Credit card installment related content

1. Credit card installment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the cardholder’s purchase. The process of using funds for consumption of goods (or services) and then allowing the cardholder to repay the bank in installments and pay handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

2. In the early days of the credit card installment business, banks often promoted it under the banner of “interest-free”, and indeed many citizens were “fooled”. In fact, interest-free is not free, it’s just called something different. Generally speaking, the one-year credit card installment fee is lower than the annual cash withdrawal interest of 18% and higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that commercial bank loan interest rates have been reduced several times since last year, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment fees vary from bank to bank, the calculation method is roughly the same.

3. 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.

4. 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 selects 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.