1, installment repayment is actually very expensive. Major banks often publicize how cheap their credit cards are in installments, saying that interest is free, but interest-free is not free, and banks still have to charge fees, and the fees are still very high.
2. The annual interest on the minimum repayment amount is higher. If you think 14.3% is high enough, the expected annualized interest rate of "minimum repayment amount" is as high as 18.25%, which is the highest among all types of installment business. Therefore, the minimum repayment amount is also a repayment method that is used only as a last resort. Although its annual interest rate is higher than that of installment repayment, if you don't pay back the money for only a few days, there is no doubt that the total interest paid by using the minimum repayment amount is less than that paid by installment repayment. So the final repayment method depends on the number of days you plan to repay in installments. Calculate which of the two methods has the lowest total interest and which one to choose.
3. The minimum repayment amount will affect the credit limit. Repayment according to the minimum repayment amount will not affect personal credit, and banks can also expect annualized income, which will not affect the credit card limit in the short term. But in the long run, banks will think that cardholders do not have enough repayment ability.
4. If the credit card is stolen, you should continue to repay. After the credit card is stolen, you can take three steps: calling the police, reporting the loss of bank complaints and proving your innocence. After calling the police, you have to continue to return the stolen money. Because the credit card debt is in the cardholder's own name, if the cardholder does not repay, the overdue will also be recorded in the cardholder's own name.
Automatic repayment by credit card may not be foolproof. Debit card and credit card binding is the simplest and worry-free repayment method. However, the repayment time should be set at 3 days before the due repayment date, so as to avoid overdue credit cards due to delayed repayment. There should be enough repayment amount in the debit card to avoid overdue credit due to insufficient balance. Some banks have lowered the automatic repayment limit, so readers must pay attention to the credit card billing information in advance. If the limit is exceeded, the second repayment will be made manually in time.