While bringing great convenience to life, the interest is so terrible! Why is the interest so high?

People's daily payment tools can also be regarded as credit tools, such as borrowing flowers. Its own amount goes up with your credit score. The number of flower beds for a normal student is estimated to be two or three thousand. If it has been used for many years, it is estimated that seven or eight thousand is a normal alert, usually in the tens of thousands.

This is very convenient to use, but it has interest. Of course, if you pay back on time, you will lose it. For example, the money you spent this month, you spent a whole month of 3500, and your limit is 7000. Then when the repayment date is 10 or the 20th of next month, you don't need to pay interest at all, but if you repay truthfully. But in fact, installment payment is not as simple as the interest rate he said, and there are traps in this interest rate calculation.

Let's assume that the interest rate by installment is 8%, which means that you borrowed 1000 yuan, and you have to pay 800 yuan interest one year. Most people think this interest is acceptable, but it's actually different. Your actual interest is much higher than this, because you choose to pay in the form of annuity after installment, and one month is still 1 0,000 yuan, then you are still 65,440 yuan. You haven't paid back this 10000 yuan, but the calculation of interest is really based on your repayment after one year. You paid back some money in advance, so that in the ninth month, although you still bear the interest of 1000 yuan, in fact, you still owe him 1000 yuan, which almost doubled.

This tool has both advantages and disadvantages. If used properly, it is a good tool for your life and can help you solve your urgent needs. For example, because of salary payment, your normal salary is 25th, but usually your consumption can't be satisfied. By the end of the month, your money is always insufficient. Then you can mediate through this tool. As long as you can straighten out your own economic order, you can repay when it is due, and you won't always be in arrears.