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

[Andrew Tay]

Berluti is under club 21??? really?
Your shoes very nice lei.... Jealous.

yup...after i bought the shoe....the receipt show club21....and just last week bought a belt of matching colour. going to wear it for my younger bro wedding at capella hotel at sentosa next sat.

really love the shoe....the colour is really nice.

[edsonchan]

thanks to triton....now read into detail of amex.

just realised that club21 also can earn 10 x bonus points....

bought a pair of Berluti shoe last mth that cost 1.8k......and this mth just bought a Berluti belt that cost 900.....no wonder my bonus points is so high up again.

hmmm......redeem another digital cam again???

Berluti is under club 21??? really?
Your shoes very nice lei.... Jealous.

[Andrew Tay]

thanks to triton....now read into detail of amex.

just realised that club21 also can earn 10 x bonus points....

bought a pair of Berluti shoe last mth that cost 1.8k......and this mth just bought a Berluti belt that cost 900.....no wonder my bonus points is so high up again.

hmmm......redeem another digital cam again???

[cheng]

i thot no rewards point will be earned if use instalment plan ?

also for the Mahanttan card...there is a cap. read the tiny prints

my own experience is

at THG, a price will be quoted based on credit card or instalment payment
if i use amex , the price will be slightly higher
and then if i use cash....will be slightly more discount from the credit card/instalmnt price ....

at sincere...i m always quoted on a cash price basis. if use credit card/instalment plan....just add the respective charges

i guess it all boils down on how the AD quotes. some could have factored in whatever charges so no difference whether u pay cash/card/instalment...

[Andrew Tay]

this is the page taken from page 16 of the new amex membership rewards catalogue 2010

though i believe there is some conditions. pardon me if i did not state clearly.

thanks man.

isn't this even better? can collect more points.....so it is better using amex to pay for watches instead of using cash......

[triton]

if there is no cap on amount spent, a 5% cash rebate on $16500 will give you $825

this is a hefty rebate.

Standard Chartered Manhattan card offers a cashback rebate of 5% for all accumulated purchases within the same billing cycle, amounting to $3001 & above.

[triton]

this is the page taken from page 16 of the new amex membership rewards catalogue 2010

though i believe there is some conditions. pardon me if i did not state clearly.

[triton]

mr. tay

let me check and revert

by the way, i spotted a mistake by u...mr cheng. amex point hor, it is 1 point for every S$1.60.....not 2 points for every S$1.60

[Andrew Tay]

not all brands(models) of watches have the same discount structure. i have also mentioned before, different customers are offered different discount structure. if i buy 40k worth of watches from AD a year, the discount i get is probably X, if i buy 400k worth of watches from the same AD, im sure my discount will be X+Y. how much discount the SE wants to offer to customer depends on the relationship between both as well.

not all retailers will pass on savings on cash purchases to customers. it depends on the company itself. company A may choose to offer additional discount up to ~3% to customer for product I if paid in cash while company B may choose not to offer the similar discount to customer for the same product even if cash payment. this is because operating costs are different. business policies are different.

recently i made an inquiry for a tag heuer. if it is card payment, it is about 25%, if it is cash, it might be slightly better discount. so i can definitely see the difference in using cash and credit card. if i ask for a rolex, discount is fixed regardless of cash or credit cards.

i agree that credit card offers points which allows the card holder to redeem points for various types of products. take for example, if we just look @ amex dollar to points $1.60 = 2 points. *ignore the X10 as i dont want to complicate calculation.* this is also the same as 1 point = $0.80

so let's look @ a 233 purchase @ $16500 *estimate for AD price assuming you are their A-list customer* this would get you 20625 points.

looking @ the amex catalog for a sony DSC-WX1(cost ~$460), it requires 90700 points. this means it needs a card member to spend $72560 or in other words, need to buy about 4 pam 233 @ $16500. how many of us can do so? also if u equate $460 to 90700, it means 1 pt is acutally $0.005. we buy 1 point for $0.80 but when we redeem, it is worth $0.005. so who is in the winning position?

if i were to use cash to buy a BNIB 233 from PI, it would cost me $14500. difference in savings of ~$2000. i can buy another 4 cameras(sony DSC-WX1), or buy 1 camera(sony DSC-WX1), spend 700 @ tung lok, i still got spare cash of ~$800.

bottom line is if my AD tells me no difference in cash or card, i pay card. this is because if you are in business, cash flow is important. if there is a difference i pay cash.

i would be more concern when i want to buy a particular watch and my AD offer me 28% regardless of payment mode but my friend who buys watches of value lower than me can get 28% discount and pays lower if cash payment.

by the way, i spotted a mistake by u...mr cheng. amex point hor, it is 1 point for every S$1.60.....not 2 points for every S$1.60

[Andrew Tay]

dear mr tay,

in case you miss, i have highlighted for you in bold.

thanks for the wording in bold....i know i am getting old and eye-sight not as good....hehe.

anyway, i am posting based on my own experience. so those who have amex credit card....u ended up in a better deal using it to buy watch from the hour glass.....

[edsonchan]

By the way Mahantten card by Standchart is most wu hwa if yr instalment plan is like 3k a month. because the rebate is cap at 300 dollars per 3 months and only elgible for 5% rebate if u spend more than 3k per month.

I think installment consider 1 charge. Doesn't mean you have a 36K divided by 12months - means you spend 3k a month.... I think only.. I may be wrong on this

By the way, the merchant gets the money in full by the way... it is between you and the bank in terms of the installment.

[buihia]

am i missing something ? i thought payment by installment plan doesnt earn you any points?

[noahjiawei]

By the way Mahantten card by Standchart is most wu hwa if yr instalment plan is like 3k a month. because the rebate is cap at 300 dollars per 3 months and only elgible for 5% rebate if u spend more than 3k per month.

[triton]

is it?

Hi guys! i think we are also missing a point on the insurance of paying by Credit card and Accountability issues. The AD will be protected even though the card is counterfeit or stolen as normally the card holder will have to bear the cost ( if I am right! ).

[caeden]

Not in time leh.

Aaaah...Not in time for THG Sale!?!...