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Invoice installment: how does it work?

Invoice installments are still a subject that causes many uncertainties, mainly because the information regarding this is not completely clear at the time of closing the contract, in addition, of course, people do not pay careful attention to this issue.

Find out how invoice installment works and find out if there are benefits to paying your invoice in installments.

What this article covers:

What does it mean to pay your credit card bill in installments?

If you happen to be unable to settle the amount of your entire invoice, installment payments may be a good option.

Source/Playback: original

In these cases, when paying the invoice in installments, the interest is lower than that charged for revolving credit by financial institutions, with a fixed amount for the installment every month. You can continue with your credit card, however, it is worth mentioning that your limit will be reset according to the installments paid.

In this option, it is still possible to choose how many installments you want to divide your invoice into, so as not to get heavy and compromise future payments, for example.

What are the benefits of paying your credit card bill in installments?

Although at first this issue of billing in installments seems to have no benefits, for those who find themselves in a financially difficult time, it can be a good solution, as it brings some interesting points:

  • By paying your invoice in installments, you pay lower interest rates than those on revolving credit;
  • The payment of your debt occurs in several months, which can help with your financial organization;
  • You can continue using your credit card, if it has a limit, but you have to be careful so that the expenses do not get out of control.

When analyzing these benefits, for extreme situations, invoice installments can be beneficial.

How to pay credit card bill in installments?

For the invoice to be paid in installments, you must contact the financial institution and inform them about your desire to pay the invoice in installments.

Most institutions ask for the minimum payment to be made, and only then to pay the invoice in instalments. Currently, some card issuers allow this installment to be done in the card application itself, which becomes something practical.

How do I pay my credit card bill in installments?

The invoice installment will appear on your invoice normally. In the same, in addition to other monthly expenses or already paid in installments, the fixed amount of the previously paid installments will also be present. Pay attention to the number of installments chosen when paying your bill in installments.

What happens if I miss a payment on my installment bill?

If you delay or miss the payment of your installment bill, your credit will be blocked, which in some cases, your card may be canceled by the financial institution. Your name can still “get dirty”, included in the SPC and Serasa.

What happens if I miss a payment on my installment bill

Source/Playback: original

That is, if you happen to delay or miss a payment, contact the credit card and make a new negotiation.

Yup. If you have a limit and make new purchases with your credit card, these amounts will come with the installment of your invoice.

Therefore, after knowing how invoice installment works, it is necessary to stay connected to the information regarding interest. And, if you are going through a moment of financial tightness, the possibility of installments can be considered. However, pay attention to the value of the installments, so as not to end up being something harmful in the future.

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