What kind of installment payment is more cost-effective than credit card?

From two aspects: installment and overdue:

1 ? grading

There are two kinds of online shopping installment payment. One is the installment payment of goods, which is called shopping installment payment. The other is to pay the bill in installments after purchase, which is called bill installment.

In terms of shopping stages, the repayment fee for the third phase of Huabai is 0, and the repayment fee for the sixth phase of Huabai is 4.5%. At present, the service of 12 is only open to college students, and the service fee is 8%. However, the charge for the third installment, the sixth installment and 12 installment is 2.5%-3.9%, 3%-4.9% and 5%-7% respectively.

It can be seen that the fewer flower buds are divided into stages, the more valuable they are. Therefore, if you can repay in three installments, you can choose to spend money, and 0 handling fee can still save a lot of money.

In the installment of bills, the handling fee of credit cards is slightly lower than that of flowers. Taking the three-phase bill installment as an example, the handling fee for flower buds is 2.5%, 4.5% for six phases, and 8.8% for 12. However, the handling fee for credit cards is 2%-2.5% for the third installment, 4%-4.5% for the sixth installment and 7.2%-9% for 12 installment.

However, there is generally no prepayment fee reduction policy for credit card bill installment. Flower buds are much more flexible, and early repayment will reduce the handling fee for the remaining period.

It is suggested that if users are temporarily short of funds, they should choose to pay by installments. In the case of abundant funds, installment payment is undoubtedly the best choice.

2 ? Exceed the time limit

If the current repayment amount is not paid off before the repayment date, that is, overdue repayment occurs, both Bai Hua and the credit card will be charged interest of 0.5 ‰ per day. However, according to the data, at present, except ICBC credit card, the interest charged by other bank credit cards is full penalty interest, that is to say, if you don't pay off in full, even if you only pay off 1 cent, then every consumption on the whole billing date will not enjoy the interest-free period, and every consumption will be deducted from the consumption. However, Bai Hua's interest is a partial penalty interest, and the interest is charged at 0.05% of the unpaid amount in the current period, and the paid part does not bear interest.

For example, if the billing date of your credit card is 5th of each month and the repayment date is 25th of each month, then you spent 2000 yuan on May 6th. If you have no other consumption before June 5, your bill shows that the amount you need to repay is 2000 yuan. If you only paid back 1.999 yuan on the last repayment date on June 25th, then you are short of 1 yuan. Interest =1999× 50 (May 6th to June 25th )× 0.05%+1× 51(May 6th to June 26th )× 0.05%.

If it is a flower, how will it be collected? Suppose you spent 2000 yuan on May 2nd. If you didn't spend anything else until June 1 day, your bill date on June 1 day shows that the amount you need to repay is 2000 yuan. If you only paid 1999 yuan on the last repayment date of June 10, you paid 1 yuan less. Interest = 1× 1 (from June 10 to June 1 1) ×0.05%.

It can be seen that it is much more cost-effective to charge overdue interest than credit cards. Banks cling to the old calendar of full penalty interest, and the competition with virtual credit cards will become less and less advantageous. It's time to change a more reasonable way to calculate and collect interest.

1 Credit card issued by bank+bill installment

Anyone with a credit card will be invited by the bank in stages. Why? This is their profitable business, which claims to be interest-free and only charges commission. Generally speaking, the handling fees of the four major banks of workers, peasants and China Construction are relatively low, and there are often concessions. The installment rate of 12 is usually between 0.46% and 0.50%, and the actual annualized interest rate is10%-1%,while the installment rate of joint-stock commercial banks is higher at 15.

Then why is it on? Because everything has two sides, existence is reasonable, and installment payment is of course useful and beneficial:

(1) reduce the current repayment pressure;

(2) the opportunity to get points or exchange gifts;

(3) Making some contributions to the bank is conducive to increasing the permanent credit card limit.

There is also to relieve the pressure of being judged as a peach fairy.

But the cost is much higher than the interest on bank loans in the same period, which is not cost-effective? Of course. Therefore, it is necessary to decide whether to go on stage according to the situation. When you need money badly, even annualized 18% is very gentle! To put it bluntly, it is to do business with banks, and the benefits need to be exchanged with costs.

2 ant flower garden+bill installment

It can't be called "flower bud staging" for short, because flower bud staging refers to the on-site staging when shopping, that is, shopping by stages.

The flower garden bill installment is similar to the credit card bill installment (the flower garden is equivalent to the virtual credit card issued by Alipay). The operating time of Huabai bill installment is between 1-9 per month. I asked customer service MM but I didn't get a reply. I only said that I looked at the screen of my mobile phone and saw the page display. Then, refer to the flower bud staging.

Flower buds and Tmall installment fees:

The total rate of 2.3% in the third installment is equivalent to 0.767% in each installment, 4.5% in the sixth installment is equivalent to 0.75% in each installment, and 7.5% in 12 installment is equivalent to 0.625% in each installment. Fortunately, it's not too high. Alternative formula calculation:

Actual annualized interest rate = total handling fee rate σσI * 24/ (number of periods n+ 1)/( 1- total handling fee rate σ I). Taking 12 as an example, the actual annualized rate = 7.5% * 24/ 13/(65438+).