Today, let's talk about cash withdrawal and installment payment. What's so good about that? What's so good about that? What's wrong with that?

Hello. Credit card installment payment refers to the process that when the cardholder uses the credit card to make a large amount of consumption, the bank pays the consumer funds of the goods purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments. But many credit card holders don't know much about the advantages and disadvantages of credit card installment payment. Today, Bian Xiao will introduce it to you.

Advantages: the application process is simple, the processing cycle is short, and compared with traditional bank loans, it is fast and easy, and the success rate is high.

Disadvantages: Generally, only cardholders of corresponding banks can handle it. The down payment is relatively high, and the longest installment is about 3 years. The quota is limited, and the average customer is below 50,000 yuan, unless it is a high-end customer of the bank. In addition, the so-called interest-free is also conditional. For example, if you buy a car, you can't enjoy the preferential price. The handling fee varies according to the installment period. The longer the term, the higher the rate.

Credit card, although it already has the function of withdrawing cash, often we just use credit card to spend directly, not withdraw cash.

So, what are the disadvantages of taking credit cards?

1. Cash withdrawal without interest-free period There is no interest-free period for credit card cash withdrawal, and interest on cash withdrawal will be generated from the moment when cash is withdrawn. Moreover, the interest cost of cash withdrawal is also relatively high. So try not to withdraw cash.

2. Withdrawal requires full repayment. Generally, you can choose the minimum repayment amount when swiping a credit card, but if you withdraw cash, you generally need to pay in full.

3. Credit cards can't be fully withdrawn, but they can be fully consumed or overspent. However, if you use a credit card to withdraw cash, there are often certain restrictions on the amount of cash withdrawn, and you can't withdraw cash in full. One of the biggest drawbacks of withdrawing cash by credit card is that banks will begin to doubt your economy and your economic ability, so it will have an impact on the credit card quota in the future.