Buying big ticket items via CC ! Old habit die hard !

[lifeafter41]

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Financing is free so long as the stipulated amount is paid on time. Those are the rules. If the person cannot afford or pay promptly, then he should not be taking up credit card installment in the first place. To be fair, the banks are not wrong to impose penalties for late payments.

Banks and retailers are there to make money from the consumers. The banks have 24 months or 36 months of opporunity to make money from each consumer, in the event of late payment or default, the obscenely high charges, late fees, advance fees, etc, all kick in. If given a choice, the banks would not want to take back the piece of product and would rather squeeze the consumer, each month, with all the charges.

Credit cards is to be used as a convenient way of making payment, especially if you are travelling overseas.

It really does not make sense to roll over the debt each month as the interest is chargeable not only on purchase make last month or earlier, interest is also chargeable on current purchase.

Those that roll over their debt in their credit card, frankly, is just asking for trouble.

 

[Ah Guan]

Credit cards is to be used as a convenient way of making payment, especially if you are travelling overseas.

It really does not make sense to roll over the debt each month as the interest is chargeable not only on purchase make last month or earlier, interest is also chargeable on current purchase.

Those that roll over their debt in their credit card, frankly, is just asking for trouble.

I know in the US, credit cards serves more than simply being a credit facility -- all your purchases made using credit cards will be guaranteed...

Another complain I have about cred cards is the obscene exchange rates they charge for making overseas purchases.

The only benefit from using credit card in sinkapore is for accumulating flight miles

 

[sleaguepunter]

If you go to a neighbourhood electrical appliance shop and willing to pay full in cash, you can get up to 30% off from the RRP of the same models in Courts/Harvey Norman etc.

Common sense tells us financing is never free. You pay a premium for the time value of money, admin charges and risk of default.

Actually u can go to Harvey Norman and Best Denki, tell the saleperson that the quote that u got from the neighbourhood electrical appliance shop. Most often than not, Harvey Norman and Best Denki will try to match the price.

I got my Panasonic LCD TV from Harvey Norman. They match the price that i was quoted from a electrical appliance shop in Kovan and throw in free installation (wall mounted) and also can had 12 month interest free credit card instalment. Not that i dont have the cash to pay but why not i keep the cash in my bank account a little bit longer to earn a little bit more interest and also get some points for the credit card to redeem for other free gifts.