Personalized Installment Bank has no contract. There is no written contract for personalized installment, only text messages and operation records. In special circumstances, if it is confirmed that the credit card debt amount exceeds the cardholder's repayment ability and the cardholder still has the willingness to repay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement.

The maximum term of a personalized installment agreement shall not exceed 5 years and 60 installments. During this period, you can save recordings, text messages, agreements, etc. until the debt is paid off. As long as you don't lose contact, it can basically be handled successfully. It is best to master the method before handling it. Don't mess around to avoid missing the best opportunity for negotiation.

Credit Card Handling Fee

In the early days of the credit card installment business, banks often advertised it as interest-free, and many citizens were indeed 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 many times in recent years, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment payment fees vary from bank to bank, the calculation method is roughly the same.

The main benefits of credit card installment payment are to enjoy it first, pay later, no guarantor, simple procedures, regular fixed amount, easy payment, free payment, optional monthly repayment amount, and more space to choose payment methods.