After the consumption loan was settled, the bank began to promote credit card installment plans.

Reporters have noticed that many banks such as Bank of China, Bank of Communications, CITIC Bank, and Shanghai Pudong Development Bank have recently launched promotional activities for credit card installment rates. A spokesperson from CITIC Bank's credit card center told reporters that the lowest annualized interest rate for their credit card installment is 2.77%, with a maximum loan of 50,000 yuan. Previously, consumer loans were an important focus of retail banking. With the intensifying price war, regulatory authorities have required consumer loan products with an annualized interest rate lower than 3% to be withdrawn from the market starting April this year. Industry insiders believe that banks are now shifting their focus to credit card installment services in order to increase volume through competitive pricing and expand the scale of related business.