Why Card Installment Interest-Free for Only 3 Months

(1)The credit card installment benefits have decreased
(2)More and more credit card companies are reducing installment benefits Not only credit card companies, but also automobile installments, which represent installment products, have seen their interest rates rise sharply these days if you look closely
(3)No interest-free installments Depending on the credit card company, interest-free installments would be provided for up to 12 months These days, it’s hard to find interest-free installments for 12 months, so many places have reduced interest-free installments for 6 months to 3 months
(4)I’m raising the interest rate on the car. I have to pay more interest when I buy a car with a card installment Earlier this year, there were two or three cars a year, but now that I’m in my 7s and 10s, the burden has grown so high that more people are canceling contracts to buy cars
(5)What happened
(6)It’s because of the Legoland crisis that poured cold water on Korea’s financial market Banks make money by rolling their customers’ savings = deposits, while credit card companies that do not accept deposits print bonds and get the money they need We write debt documents and borrow money to pay for things we scratched with cards first, but the Bank of Korea’s benchmark interest rate, which is the basis of all interest rates, continued to rise, and the bond market froze due to the Legoland crisis, and bond interest rate = interest rate nearly tripled The burden on the credit card company increased because they had to pay more interest and borrow money That’s why I’m trying to tighten my belt by reducing consumer benefits