The common reasons for the high cost of credit card swiping are: (1) Credit card failed to update credit card points information in time; (2) The line of the credit card machine is busy, or broken, or the credit card network is not good. The pos line is busy or faulty, so I suggest you try again. (4) In some areas, due to the influence of the audience, it is suggested that you set a credit card fee, which can be paid in time a few days in advance.

Is the credit card installment rate 0.53 high?

Tall man. The credit card installment rate in 2022 is 0.43, which is already very high compared with 0.53. Credit card refers to recording the relevant information of the cardholder's account, which has the functions of bank credit line and overdraft.

Have you calculated that the actual rate of credit card installment is so high?

Shuang 1 1 left in a hurry. Your express delivery is almost in your hand, but while enjoying the++of unpacking express delivery, have you neglected that there are still long credit card bills to pay back this month? Yesterday was the billing date of a credit card commonly used by Mrs. Yao. The bill of this card alone exceeded 20 thousand yuan this month. It seems that after the double 1 1, Mrs. Yao didn't just eat dirt.

I believe that there are not a few people like Mrs. Yao who are deeply troubled by the large credit card bill after double 1 1. A few figures on the salary card this month can't fill in the repayment amount of the credit card, so we have to repay it in installments. Credit card installment payment is also common in daily consumption. However, Mrs. Yao reminded everyone that the handling fee for credit card installment business is not low, even equivalent to the online loan interest rate of large P2P platforms.

If Mrs. Yao's bill this month is 20,000 yuan, and the monthly repayment amount is 18 17 yuan, with the handling fee rate of 0.75% in each installment. If it is a loan of 20,000 yuan, according to the monthly remaining loan amount, the average monthly capital occupation is about 10833 yuan, while the actual annualized handling fee rate is1800/10833 =16.6%.

The fees for credit card consumption or cash withdrawal installment business of major banks in different periods are not the same, but usually there is little difference. According to the calculation of relevant media, considering the actual capital occupation, the annualized rate of credit card installment fees mostly exceeds the above-mentioned calculation of 16.6%, and may even exceed 20% at the highest, which is about 60 times the deposit interest rate, 13 times the one-year deposit benchmark interest rate and 4 times the mortgage interest rate, which is equivalent to the online loan interest rate of large P2P platforms.

Many people didn't expect the credit card installment rate to be so high, so if you repay in advance, will the rate be lower?

In fact, it depends on the specific regulations of each bank. However, most banks stipulate that cardholders who apply to pay off the outstanding installment balance in advance must pay off the outstanding installment balance and handling fee in one lump sum after the approval of the bank. That is to say, in this case, prepayment is meaningless, and the remaining handling fee cannot be exempted.

However, it is gratifying that before the double 1 1, many banks announced the adjustment of credit card installment fees. China CITIC Bank announced that its installment interest rate will be lowered collectively from1October 20 18 65438+29. Among them, the installment rate of 1 was reduced from 1.5% to 1%, with a reduction rate as high as 33.3%. At the same time, Ping An Bank, Hua Xia Bank and other banks have also formulated different preferential projects in stages according to their own operating conditions, which have different levels of profits than before.

Compared with the practice that WeChat credit card is about to charge fees for repayment, in recent years, the fees of major banks have been "slimmed down", from the transfer and remittance fees of personal accounts and the fees for cash withdrawal in different places to the financing service fees and consulting fees of small and micro enterprises. Banks have been increasing their efforts to reduce various fees, but this is a welcome change for consumers.

Is credit card installment 4.5 high?

Tall man. In other words, the monthly interest rate of 0.45% is 12 months, and the actual interest rate is about 10%, which is nearly 5% higher than the superficial interest rate of 5.4%. Obviously, the credit card installment rate of 0.45 is still very high.

What's the credit card interest rate?

Credit cards usually have three kinds of interest rates. First, credit cards can be overdrawn, and the current rates are 0.6% and 0.55%. Second, when the amount is high, the bank will recommend the cash installment business, which will involve the monthly interest rate of cash installment, which is about 0.6%-0.8%. Third, the cash withdrawal business, you can directly take a credit card to the ATM to withdraw cash, the interest is five ten thousandths.

On the surface, these three rates seem low, but if you are good at calculation, you will find that they are quite different. The first kind of overdraft consumption is credit card consumption. The current interest rates are 0.6% and 0.55%; The second kind of gold installment business is also one of the main businesses promoted by the bank's credit card department, and the cash installment interest rate given by banks is around 0.7%. The third type is credit card ATM cash withdrawal. Every bank's credit card has this service, and the rate is five ten thousandths. At present, many platforms engaged in micro-credit loans generally adopt this interest rate.

If the rate of consumer credit card is 0.6% and the average service life is 50 days, the annualized conversion rate is 0.6%/50x365 = 4.38%; The general rate of cash installment business is 0.7%, and the service life is calculated as one month: the annualized conversion rate is 0.7%12 = 8.4%; Credit card cash withdrawal business, the rate is five ten thousandths, the term is one day: the annualized conversion rate is 5/100003012 =18%. At present, the annualized rate of return of one-year time deposit in the bank is 1.5%, which means that if the income of the deposit bank cannot cover the overdraft of your credit card.

Why is the credit card installment rate high? Read the truth!

Although credit card installment is interest-free, the real interest rate is still very high. It stands to reason that everyone should avoid expensive handling fees, but in fact there are still many people who do credit card installment. The cruel reality makes many people last stand. Knowing these truths, it is hard not to do the same.

Why is the credit card installment rate high?

Everyone knows that credit card installment is interest-free, not free. Depending on the installment type and the number of installments, the rate is different, and even if repayment is made in advance, it is possible to pay the remaining installment fee. However, many people will handle it even though they know that the credit card installment rate is high, mainly for the following reasons:

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2. Relieve the repayment pressure and avoid overdue: credit cards cannot be repaid in one lump sum after large consumption, and the minimum repayment cost is high. Many card friends will go to installments to ease the pressure of repayment. Although they have to pay a handling fee, it's still worth it compared with overdue. At least the credit information has been saved, and credit business will not be rejected because of credit failure in the future.

Don't be afraid of ingratitude: many people are short of money and don't want to borrow money to avoid ingratitude. It is a good choice to handle credit card cash installment turnover, which is easier than bank loan. Even if the handling fee is high, at least the money borrowed from the bank needs to be paid back on time, without considering anything else.

The above is "Why is the credit card installment rate high? Why is someone still dealing with it? " I hope it will help everyone. In short, credit card installment has some advantages besides high rates, but it should be handled properly.

This is the end of the introduction of the meaning of high card swiping rate and high card swiping rate. I wonder if you found the information you need from it?