In fact, it’s almost the same.
Under the same amount and number of installments, the main deciding factor is the installment fee. Generally speaking, the Huabei installment rate is fixed, but the credit card installment rate may be related to the card issuer and credit card level. Therefore, if you want an accurate comparison, you can compare your own credit card installment rate with the Huabei installment rate. Enter the formula and do the math.
Then the Huabei installment interest is divided into 3 installments. The total interest = 1000*2.5% = 25 yuan; the interest payable in each installment = 25/3 = 8.3 yuan.
The total interest of CCB credit card installment is divided into 3 installments = 7.5*3=22.5 yuan; 1000*0.75%=7.5 yuan.
The Huabei installment interest rate is higher than the CCB credit card installment interest rate. But if your credit card installment rate is 1.25%, then the Huabei installment interest is still 3 yuan per installment, and the credit card installment interest is 12.5 yuan per installment. The Huabei installment interest is more cost-effective.
Product Origin:
The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit line.
A credit card is generally a special carrier plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front, and there is a chip on the back. Magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.
It is said that one day in the 1950s, American businessman Frank McNamara was entertaining guests for a meal in a New York hotel. After the meal, he found that he had forgotten his wallet and had to call his wife to bring cash. McNamara came up with the idea of ??starting a credit card company because he felt embarrassed about paying the bill at a restaurant.
In the spring of 1950, McNamara and his friend Schneider invested US$10,000 to establish the "Diners Club" in New York, the predecessor of Diners Club.