The so-called interest-free period refers to the buffer period for customers to save money after the credit card balance is zero (or the balance in the card is less than the commodity price), which generally means that customers will have this interest-free period after spending. The longest interest-free period, as an explanation, if the bank stipulates the 25th of next month as the repayment period, then the longest interest-free repayment period is 56 days if you spend 1 this month. Consume on the 2nd of this month, and the repayment period is 55 days.
There are generally two kinds of interest-free period settings. One is that the bank clearly stipulates that one day of each month is the deadline for interest-free repayment, and the interest-free period is the date between the bank's bookkeeping date and the deadline. Both ICBC and ABC adopt this method; The other is that the cardholder chooses a billing date according to his own needs, and then sets the latest repayment date according to the billing date, so the interest-free period is the date between the bank billing date and the latest repayment date.
Taobao's interest-free installment is the first time that Tmall has launched a business that consumers can't stop, realizing an unprecedented three-phase free handling fee. That is, after the buyer chooses Taobao installment payment, he does not need to pay interest, but only needs to pay the amount of the goods themselves.