The term of credit card deferred repayment is usually one month, but it may be longer or shorter. If the cardholder needs to postpone repayment, he needs to contact the bank to apply before the due date. The bank will decide whether to agree to postpone repayment according to the cardholder's credit record and personal situation, and give the specific extension period and procedures.
It should be noted that although credit card deferred repayment can temporarily alleviate the repayment pressure, it will also generate certain interest and late payment fees. Therefore, cardholders need to be cautious when using deferred repayment service to avoid the debt risk caused by long-term overdraft.
In addition to delaying repayment, cardholders can also choose to pay by installments to ease the repayment pressure. Installment payment refers to dividing the consumption amount on the credit card into multiple periods, and the repayment amount and interest of each period will be adjusted according to the installment period and credit history. Installment payment usually needs to be applied in advance, and the bank will decide whether to agree to installment according to the credit status and repayment record of the cardholder, and give a specific installment plan and process.
Generally speaking, credit card deferred repayment and installment payment are common credit card repayment methods, but it should be noted that these services will generate certain interest and formalities fees, and cardholders need to carefully consider their repayment ability and risk tolerance to avoid unnecessary debt risks caused by excessive overdraft.