Advisory : Payment Method - Cash or Credit Card or Instalment Plan

[andi]

any bro know which AD provide interest free instalment for credit card payment? and which bank credit cards?

[116520]

I think none of them

[elyjacob]

None?

Cannot be what.. they got nothing to lose... they get to give less/little discount, bank pays them in full and customer pays bank monthly...

i actually saw some table top mini-posters on interest-free instalment payments at THH last time I was there a few weeks back... didn't ask about it though cause I paid cash to secure a bigger discount...

[Oceanklassik]

There definitely are. THG, Cortina, WOS, All Watches, Sincere FW, all offer CC interest-free instalment. It's only a matter of how much discount they are willing to give for such services. Most banks are available too. You should check it out yourself. IMO, no point asking this here cos' quite a number of forummers DO NOT believe in CC interest-free instalment, as they are quite well-to-do...

That's of course, not me..

Happy hunting dude !

[Darkangel]

I think all of them...hahahaha or well for most banks

[triton]

my take on this credit card payment with interest free plan is just a gimmick.

my experience is that once i secured the price for a watch on the condition is that i pay without instalment plan. with this, i suspect that they factor in the discount given for those customers who want to pay via instalment through credit card.

so do note that if engage with this interest free instalment plan, your credit card monthly limit is reduced by the instalment amount, so if your limit is 1k and instalment amount is 100 monthly, your credit limit is now 900.

[seiko.citizen]

determine the discount rate you would have got payin cash, and what your final amount would be on an interest free payment option, after factoring time value of money the choice will be clear

[pebz]

If I'm not wrong, dif between cash and card is about 3%. For me, it's not a huge difference. So I might just consider 0%.

[seiko.citizen]

cash price S$8000 (discounted 15%)
credit price S$9200;(interest earned being 8%) now assuming you are paying off the payments over 12months, occurring 12 monthly payments of $766.67, the real value of the repayments added up comes to a total of $7442.20, thus being cheaper then having paid cash upfront.
Now you can wear your watch whilst paying it off in interest free terms. Best of all, you can have your money working for you in other investments earning more interest.

Of course, if my TVM calculations are wrong, please correct me.

[teo]

Get seadweller since there is no discount for it. Installment or no installment still the same price now.

[seiko.citizen]

Get seadweller since there is no discount for it. Installment or no installment still the same price now.

in that case, a no brainer, chuck it on installment and done deal! no incentive to pay cash, why bother.

[Darkangel]

I think...it would depend on the situation la...no hard n fast rule about it.

But 1 thing is that,if paying 8k 1 short might cause some cash flow problem,dun risk it...

[seiko.citizen]

if maintaining the monthly repayment is a problem dont risk it either. ....... You dont want to see how these people play you out on interest payment

[minusplus]

I would advise all buyers to pay cash as far as possible. Credit cards can be dangerous if their usage are not well controlled. More and more youngsters are getting themselves indebted at a young age because of excessive spending...

[feudallordcult]

I would advise all buyers to pay cash as far as possible. Credit cards can be dangerous if their usage are not well controlled. More and more youngsters are getting themselves indebted at a young age because of excessive spending...

agree in totality.