China Merchants Bank installment repayment is cost effective or minimum repayment

Installments are definitely more cost-effective than the minimum payments...

Hello, it is true that it is not possible to apply for installments with cash. If it is inconvenient to repay the full amount of the bills that have already been incurred, you can choose from two ways:

1. Bill installment (cardholders who only hold commercial cards, business cards (including financial and official cards), procurement cards, ANA guarantee cards or supplementary cards cannot apply): you can enjoy an interest-free period but there is a handling fee. Handling fee for each period = total amount of installment Handling fee rate for each period, the minimum charge for each period is 5 yuan, and the benchmark rates for each period are:

3 periods per period each period each period, please log in to your credit card for details**.

Click "Credit Management" - "Bill Installment" to inquire;

2. Minimum repayment: no handling fee but no interest-free period. If you make the minimum payment before the last payment date but are less than the full amount, you will not be eligible for the interest-free repayment period, and interest will be charged on all purchases in the current period starting from the billing date (usually the day after the purchase) at 5/10,000 per day until you pay it off in full.

You can choose the repayment mode according to your needs.

Installment repayment is more cost-effective, and if the amount owed is small, it can be repaid in a short period of time.

Installment repayment: Installment repayment is interest-free and requires a handling fee, which varies greatly from bank to bank. Most bank installment fees are determined by the length of the term, and the longer the term, the higher the handling fee.

Minimum repayment: The minimum repayment amount is 10% of the total amount purchased, and the repayment according to the minimum repayment amount given by the bank can maintain a good credit history. The bank stipulates that the interest on the entire consumption amount will be charged at a daily interest rate of 5/10,000 from the date of consumption credit, and compound interest will be calculated on a monthly basis, and the interest will still be calculated according to the total amount, and the interest will be rolled over.

For example, let's assume that Ms. D's bill date is the 18th of each month and the repayment due date is the 15th of the following month. Her bill on June 18 lists all her consumption records from May 19 to June 18, one 10,000 yuan card purchase, and the billing date is June 14. Therefore, Ms. D's last repayment date is July 15, the "current repayment amount" is 10,000 yuan, and the "minimum repayment amount" is 1,000 yuan.

If Ms. D chooses to repay all the $10,000 owed on or before July 15, then she will not have to pay any interest. If Ms. D only pays the minimum payment of $1,000 on 15 July, she will be charged interest from the accounting date (14 June) until it is repaid.

Before the next statement date of July 18, if Ms. D does not repay the remaining amount (including the interest part), then there will be interest in the bill.

10,000 months 14 - July 15) + (10,000 - 1,000) month 16 - July 18) = yuan. The last payment date for this bill is August 15.

If Ms. D does not repay the loan in full by 15 August, the interest-free period from 18 July to 15 August will be cancelled and the interest on the previous bill will be charged at the rate of 5/10,000 per day. This is also the meaning of monthly compound interest.

Since new interest is generated every day, the early interest will also generate compound interest, if Miss D is unable to pay off the arrears within 3 months, the interest will exceed 1,000 yuan, and the longer the arrears, the greater the repayment pressure.

Installment repayment is more favorable.

I recently wanted to buy a mobile phone. If you want to swipe a credit card, the price is 2500, and if you want a credit card installment, take 6 installments as an example. If you choose to pay in 6 installments, then the handling fee for 6 installments (China Merchants Bank Credit Card Installment Rate:

3rd Installment: 6th Installment: 12th Installment:

Yes: 2500* RMB. The amount you need to repay in each instalment is 2500 6 = yuan.

If you only pay the minimum amount every month, it is definitely not cost-effective, it is recommended that you pay the equivalent of the monthly installment of yuan, then you need to pay off all the arrears in 7 installments, and the total interest is yuan, a difference of a few dollars.

Generally, if you are unable to repay the full amount for a long period of time, you can apply for a bill instalment, and if it is inconvenient to repay in the short term, you can apply for a minimum payment.

After the bill installment application is successful, the current bill only needs to repay the amount other than the bill installment, and the principal amount payable in the first installment (the principal payable in each installment = the total amount of the installment principal and the number of installment periods) and the handling fee will be reflected in the next monthly bill. The bill instalment transaction is fully offset against the bill amount, and 10% of the minimum payment balance is offset against the minimum payment balance. If the application for bill installment is approved, it cannot be revoked, and the installment amount and number of installments cannot be changed, and the outstanding installment amount in the bill installment business that has been successfully handled needs to be repaid in advance.

The minimum payment is the minimum monthly payment amount that needs to be paid on the credit card, as shown on the credit card statement for the current month. If you can't pay it off in one lump sum, you can repay the minimum repayment amount on time before the last payment date, which will not affect your personal credit, but you will not be able to enjoy the interest-free repayment period, and interest will be charged on all purchases in the current period from the billing date, with an interest rate of 5/10,000 per day. (Repay the loan in full on time, and enjoy the interest-free period for card consumption).

The difference between credit card installment and minimum payment: minimum payment: The minimum payment is generally charged at 10% of the current bill, but the interest is still calculated on the total amount, and the interest is rolled over.

Installment repayment: There is no interest, only the handling fee needs to be paid, but the longer the installment, the higher the handling fee.

This answer is provided by Compo Finance, which focuses on the interpretation of financial hot events, the popularization of financial knowledge, adheres to professionalism, pursues fun, makes financial content that people can understand, and conveys financial value in a vivid and diverse way. I hope you find this answer helpful.

The minimum repayment is only about 10% of the bill amount, which is not considered overdue, but the late fee is calculated from the day you consume, and it is calculated according to 5/10,000; If you repay the loan in installments, you can choose 3 6 9 12 installments, and the handling fee will be automatically calculated for you. It mainly depends on how long you can repay the money, if you can pay it back in the short term, you can choose to pay the minimum payment temporarily, if you can't pay it back in the short term, it is recommended that you pay it in installments. As long as the above two methods repay the loan according to the deadline, it will not count as your bad credit.

Actually, it's all about the same, but I personally think that installment payments are better, and the minimum repayment seems to have an impact on creditworthiness.

1. Minimum repayment amount of China Merchants Bank:

If it is difficult to pay off all the arrears at once, you can repay the minimum payment on time before the last payment date, which will not affect your personal credit, but you will not be able to enjoy the interest-free repayment period.

Minimum Payment = 10% of all general transactions on the credit card account + 100% of all outstanding installment transactions in the account + 100% of the outstanding amount of the previous minimum payment + 100% of the total amount used in excess of the credit limit of the account + 100% fee + 100% interest.

2. Installment repayment of China Merchants Bank:

China Merchants Bank provides cardholders with a variety of installments of 2, 3, 6, 10, 12, 18, 24 and 36 installments, with a single installment handling fee rate of 0%, and the actual installment handling fee and the number of installments that can be applied are subject to the real-time evaluation results of China Merchants Bank Credit Card Center.

After the bill installment is successfully completed, the principal repayable and handling fee of each instalment will be credited to the cardholder's credit card RMB account. The principal payable in each installment = the total amount of the installment principal The number of installments, the principal payable in each installment (accurate to the minute) will be credited to the cardholder's credit card RMB account on a monthly basis, and the remainder will be credited to the last installment. Handling fee for each installment = total principal amount of installment Handling fee rate for each installment.

Once charged, the handling fee is non-refundable.

First of all, it is necessary to understand the difference between the two, the minimum repayment is generally charged at 10% of the current bill, but the interest is often still calculated on the total amount, and the interest is still calculated on a monthly basis. There is no interest on installment repayment, only the handling fee needs to be paid, and the handling fee is fixed, and the longer the installment, the higher the handling fee.

As can be seen from the above, the interest on the minimum repayment can be accumulated indefinitely, and as long as the cardholder keeps using the minimum payment, the compound interest can continue to grow. Installment repayment is a fixed handling fee, and the handling fee for 12 installments a year is often much lower than the interest rate of the minimum payment. Therefore, when you can't repay the loan for a long time, you can choose to pay in installments, and if you can't repay it for a long time, you can choose the minimum payment.

1. What is the installment interest of China Merchants Bank credit card?

Strictly speaking, the installment charge of China Merchants Bank credit card is not interest, but the handling fee of Zheng Zheng in installment, which is related to the installment method. Unlike compound interest, which has no upper limit on minimum repayment, the instalment fee is fixed. The handling fee has different rates according to the number of periods, and the handling fee for each period = the total amount of the installment The handling fee rate for each period.

At present, the number of installments of China Merchants Bank credit card can be selected: 1 period, 2 periods, 3 periods, 6 periods, 10 periods, 12 periods, 18 periods, 24 periods, and 36 periods. It is determined by the credit card center of China Merchants Bank according to the actual situation, and generally fluctuates between 0% and 0%.

2. Is it okay to settle the credit card in advance in advance after installment?

China Merchants Bank's credit card installment can be repaid in full in advance, but if you choose to repay in advance before the installment ends, the previous handling fee will not be refunded. Not only the handling fee of the previous installment, but also the handling fee for these arrears that are paid off at one time, that is, the handling fee agreed upon when handling the installment.

In short, since the installment is successful, the handling fee will be fixed, regardless of whether the user repays the loan in advance or not, he has to repay the money. Therefore, few people choose to end the installment repayment early, without any benefit, and take the initiative to apply and bear the corresponding handling fee.

If you have a minimum repayment and installment, of course, it is a good deal. With the minimum repayment amount, all purchases on the bill cannot be interest-free, full penalty interest, interest will be calculated from the date of card swiping, 5/10,000 per day, and compound interest will be calculated every other month until the principal and interest are paid off.

If it is an installment, it is recommended that you divide it into 6 or 9 installments, and the installment of the CMB bill can only be 90% of the current bill; China Merchants Bank provides 3 installments, 6 installments, 10 installments, 12 installments, 18 installments and 24 installments, and the corresponding handling fee rate for each installment is .68%, a one-time handling fee. However, if you can afford to repay, it is best to repay the loan in full so that there will be no fees.

The minimum repayment of the CMB credit card is calculated on a daily basis, which is equivalent to monthly interest; China Merchants Bank credit card installment repayment, handling fee rate: 2 installments, 3 installments, 6 installments, 10 installments: , 12 installments, 18 installments, 24 installments are charged every month); Handling fee = installment principal * handling fee rate of each installment.

1. How to deal with the freezing of all overdue credit cards.

1. Repay as soon as possible: When you find that your credit card is frozen, you need to repay it immediately. Under normal circumstances, the overdue time is very short, the amount is not much, and there is no suspected malicious arrears, etc., after confirming that the arrears have been returned.

After payment, the credit card can be unfrozen within 24 hours;

2. Contact the bank: After repayment, you can contact the bank to confirm and ask if the freeze status can be automatically lifted. If not, the user needs to apply for unfreezing after providing relevant materials and information as required by the issuing bank;

Second, the credit card really can't afford to pay, what are the conditions for wanting to stop interest?

1. The debtor is in an overdue state, although the regulations of each bank and online loan platform are different, but most of them can only be negotiated after the deadline.

2. The debtor has the ability to repay the loan in installments, for example, if he owes the bank a total of 80,000 yuan and repays the loan in 40 installments after negotiation, then he will repay 2,000 yuan in each installment, and the debtor must ensure that he has the ability to repay the loan every month.

3. The debtor is willing to repay, but the debtor currently has no ability to repay the debt in a lump sum, and can only repay the arrears slowly through installments. Proof of inability to repay on time is required, such as failure to start a business, physical discomfort, etc.

The minimum repayment is 10% of the total amount of the bill, and the minimum repayment will not cause a bad record, but the interest is calculated from the day the card is swiped.

Installment is to installment of the consumption amount is to repay the loan in several months, no interest but there is a handling fee, charged once per installment, if the follow-up consumption chooses the lowest, the amount of the installment and the handling fee will be included in the minimum repayment, no longer 10%.

Hello! After the minimum repayment, interest will be calculated on a daily basis from the date of your card swiping, with daily interest; Installment repayment requires an application and can only be used after approval.

The final repayment is subject to the actual bill.

If you choose installment business, China Merchants Bank credit card installment rate: 3 installments: 6 installments: 12 installments: , minimum repayment: 10% of the minimum amount owed, so installment repayment is more cost-effective than the minimum repayment!

Of course, it's an installment business!!

Regardless of the bank, the installment fee is definitely more cost-effective than the minimum exchange amount.

Actually, it's the same. It's all about interest. The interest is about the same.