Camera Purchase Credit Card Installment

[ZerocoolAstra]

You can try this if you feel lucky, please read the T&C of how much they can "fine" you when you terminate the interest free installment.

We can all scream unfair (yes it is unfair), but you don't have to get that credit card and get that interest free installment so I dont think CASE can help. Paying all 6 months ahead is still considered as termination of agreement and they can still "fine" you.

Do not trust what I say above, read your Credit Card fine print. I am serious. We are all adult and be bound by law as adult so please be careful when signing any contract.

ya i think you're probably right. I'm sure there's some clause in there, in super fine print, where you cannot terminate a 0% plan without some 'admin fee' being imposed.
Actually logically that is really weird though. The bank is offering free credit, and you're offering to pay them early. It's not like you're terminating a loan early, right? haha.

 

[aryanto]

ya i think you're probably right. I'm sure there's some clause in there, in super fine print, where you cannot terminate a 0% plan without some 'admin fee' being imposed.
Actually logically that is really weird though. The bank is offering free credit, and you're offering to pay them early. It's not like you're terminating a loan early, right? haha.

OT!

That is what we call golden handcuff. You are bound to have that credit card so they can claim you as customer. And hope you also use that card for other purchase.

Another way is to have other feature of the credit card.
Citibank strategy of combo credit card and ezlink is very good. Very innovative.
It is another golden handcuff but it is functional.
UOB one touch card look nice but er.. no thanks. It is just a gimmick to me.
OCBC tie up with NTUC linkpoint is good for people who are union members. Me not so not for me.

 

[ZerocoolAstra]

hahaha yes you're right... Going off-topic already...
Just wanted to make another point that we're quite fortunate in Singapore to have so many credit-card-linked promotions. This is unlike countries such as Australia, where you hardly get petrol discounts, dining-out discounts, etc. To them, a credit card is just a credit card. For me, I use POSB Everyday for petrol @ SPC, UOB for dining discounts, HSBC for movie discounts.... sigh.. troublesome to carry so many cards!

Anyway regarding the different pricing by merchants.
Well, we have to look at the issue from a merchant's point-of-view.
For items like cameras, computer stuff etc, I 'believe' (maybe I'm gullible) that the merchants' profit margin is not too great. Hence the credit card fee of 3% or thereabouts is quite significant for them. BY RIGHT, there should be no difference in pricing. But 3% of a $300 item is about $9. If their profit margin is $25, that becomes reduced to $16. So even if they offer cash price of $290, they still make more profit.
I'm happy with things the way they are. Better to get a more attractive price when paying by cash...

CASH IS KING!

 

[kamiru]

Anyway CP does not charge interest for the installment plans.

 

[Anson]

Anyway CP does not charge interest for the installment plans.

But would it be cheaper to pay by cash in CP?

 

[kamiru]

But would it be cheaper to pay by cash in CP?

I dun think so, they quoted the same price for me. I think they standardised the price already.

 

[sirswa]

no additional charge for CC payment or CC 0% installment. But CP price are slightly higher than other shops. but if you intend to use CC or CC 0% installment, CP is the best so far. Harvey Norman/Best, etc their price are much higher than CP.

 

[xhui22]

Recently was at CP and i checked e price of flash that i'm thinking of getting, when i was quoted a price, i probably looked "not-interersted" after that and the staff asked me what was holding me back. When i reverted somewhere else quoted lower price, he did asked if it was in cash, when i said yes, he was able to "re-calculate" and gave me a lower price and even commented "aiyah, cash then different la."

so i guess when the item you're buying is maybe more expensive and when you pay in cash, technically they can lower the prices a bit as compared to installments or CC. (btw, i'm paying installment for some items i bought at CP so i kindof knew).

 

[Pinoy]

Bought my 10-22 from CP in Peninsula Plaza. Got a quote of S$930 prior to coming down and I opted to pay by credit card and by installment. No surcharge was levied.

:Later,

 

[ZerocoolAstra]

Bought my 10-22 from CP in Peninsula Plaza. Got a quote of S$930 prior to coming down and I opted to pay by credit card and by installment. No surcharge was levied.

:Later,

... which is EXACTLY what xhui22 meant. They (CP) quote you the price for payment by credit card. Then if you bargain and say you are paying by cash, they 'could' offer a lower price. Quoting you 1 price then offering a 'cash discount' is essentially the same as quoting you the lower cash price then levying the c/card fee, but it sounds nicer this way!

 

[Pinoy]

I did bargain but I guess I really suck at it. That is why I ended up deciding to pay by CC and by installment. If the cash price was attractive enough, I would have gone that way...

:Later,

 

[Anson]

I did bargain but I guess I really suck at it. That is why I ended up deciding to pay by CC and by installment. If the cash price was attractive enough, I would have gone that way...

How much different in price? :think:

 

[Pinoy]

How much different in price? :think:

Dunno. :dunno:

As I said, I tried to bargain but price didn't nudge a bit. Thought price was fine coz in the price guide it was listed as S$930... so I told the sales guy.. "Ok. I'll take it but I'll pay by CC and by installment". No problemo.

I do agree and somehow think that paying by cash should give you some leeway as far as pricing goes. Just like how some shops in SLS give you 2% discount if you pay by cash instead of by NETS or CC.

:Later,

 

[xhui22]

for the item i was interested to get, i was quoted $430 initial, but when i mentioned cash and somewhere was offering lower (of cuz u do not say this as a challenge but with more tact), sales person was able to give me $415. so if i pay in cash, its a $15 savings. not sure if its a lot but to some, it might be. in the end, i paid by CC and managed to bargain to $425

 

[cqprime]

Anyone bought camera from CP using credit card installment payment before? How does it work?

Just to add on:

I just spoken to DINERS Club customer service, she told me that the following merchants are able to accept Diners 12 to 48 mths installment credit card payment.

The reason i asked DINERS because Harvey Norman told me i can only use CITIbank and UOB for 12 to 36 mths instalments. And other bank cards are 12 to 24 mths only.


1. Best Denki

2. Harvey Norman

3. Audio House

4. Carrefour

5. Gain City

6. Atlas Sound Envision

7. Mustafa

8. Courts

 

[aryanto]

CITIbank and UOB for 12 to 36 mths instalments. And other bank cards are 12 to 24 mths only.

36 months holy me! by the time you finish paying you will be ready to pay for new body.
This is like installment forever.

 

[SabaDen]

36 months holy me! by the time you finish paying you will be ready to pay for new body.
This is like installment forever.

U missed the Diners 48mths :bsmilie: ... maybe by then going for 3rd body? ;p

 

[ZerocoolAstra]

WAH! all so rich? change camera bodies every 24 months?
My D80 > 2 years already.. no intention to replace it yet as it still serves me well.

 

[aryanto]

Depends, if you buy flagship model, the single digit, then no need to upgrade so fast. but if you buy entry model, unless you are not improving then you dont upgrade. if you are improving but happy with that then no need to upgrade, but if you are serious, upgrading will add to your improvement, well depending on what you shoot actually. If you are mainly doing static shots, then I guess not.