Credit card repayment in six installments means that the credit card repayment amount is divided into six installments (six months), and there will be six repayments soon, and the repaid principal and interest will be divided into each installment.
(1) credit card installment repayment is a installment repayment business launched to avoid penalty interest according to the total consumption limit when customers are unable to repay the overdraft amount of credit cards at one time.
(2) installment repayment is different in application procedures and application scope. For installment repayment business, it is not necessary to specify the place and category of consumption. If customers realize that they cannot repay in full on schedule after swiping their cards, they can call to apply. However, it should be noted that the handling fee for installment repayment is higher, which is generally higher than the commercial loan interest rate in the same period.
(3) Reminder: The shorter the installment period, the lower the cost, and maintaining a good repayment habit is the basic requirement to enhance the reputation.
it is more cost-effective to choose several installments for installment repayment, or it depends on the bank's installment interest rate standard.
Phase 3: The handling fee rate of ICBC's credit card Phase 3 is 1.65%, which can be said to be the lowest among all banks, so ICBC can be given priority; Try not to start with China Merchants Bank and Shanghai Pudong Development Bank in three phases. These two banks can be said to be the highest in the industry, with a rate of .9% per phase and 2.7% in three phases.
Phase 6: The handling fee rate of Standard Chartered Bank Phase 6 is 2.6%, and the handling fee is charged at one time. However, there may be fewer people with Standard Chartered Bank cards. If there is a large amount of consumption and it needs to be phased, you can consider applying for one in advance. However, it is best not to use CITIC and Shanghai Pudong Development Bank in installments. The six-phase fee rate of these two banks has reached 4.8%.
9th installment: there should be very few people who choose 9th installment. However, if repayment is made in 9th installment, it is still necessary to avoid wasting money. The installment rates of Agricultural Bank, Industrial and Commercial Bank of China and Bank of China are relatively low, which is .6% for each installment and 5.4% for the 9th installment. CITIC Bank has the highest rate, which is .76% per installment. Sometimes, the installment rate of CITIC will be discounted, so you can compare it and make a choice.
12th installment: the four major banks, Bank of China, Agricultural Bank of China, Industrial Bank of China and China Construction Bank, have the lowest rates of .6% each installment, while Societe Generale and Standard Chartered have the highest rates of .75%;
24th installment: CCB and ABC have the lowest installment rate of .6%, while Pudong Development Bank (the method of collecting fees by installment) has the highest installment rate of .8%, followed by Xingye, CITIC and Standard Chartered with the installment rate of .75%.
By comparison, it can be seen that the installment fee rates of the four major banks are ok. Although it may be difficult to apply for a card, we have to say that the installment fee rates are indeed much lower than those of other banks. Finally, I would like to remind all cardholders that when choosing installment repayment, they should choose a base that suits them according to their credit cards. No matter how many installments and which bank they choose, they should repay on time so as not to affect their credit records.