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Thread: Credit Card Charges

  1. #21
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    Originally posted by Stoppable
    Yeah right. Most of us have a camera. Do we need another one? The reason to buy another is really because we want not that we really need it. If we live on just what we need we will wait till our current camera breaks down completely before buying another.
    For people who make a living out of photography, it's a different case. They NEED the backup bodies. They cannot afford to have a body/lens/flash fail on assignment, and given the kind of torture they give to their equipment, failure is not uncommon.

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  2. #22
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    Originally posted by Stoppable
    Yeah right. Most of us have a camera. Do we need another one? The reason to buy another is really because we want not that we really need it. If we live on just what we need we will wait till our current camera breaks down completely before buying another.
    What I mean is if its not urgent, can wait if you are not willing to pay the CC charges. You mean to say one month later, you'd want the camera less?

  3. #23
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    so at the end of the day........ you still pay that extra charge cos of the WANT...... so i think you should not be complaining..... You could have always backed out of the purchase. So move on.....

  4. #24
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    Lets see EOS1Ds = $12800..nets limit $2000, cheque take 2 days to clear and CP oni accept if super regular. So how? Walk around with $13K cash and hope you don't get robbed? Or, zzzaapp! sign and write cheque for full amount later to card company?

    EOS10D = $2650...nets limit, still $2000...so grab cash...ATM card max out per say I think is $2000... still $650 short hmm...bugger the hassle and zzaaap sign again...

    Not everyone lives on credit. Some use it for convenience. Don't be so quick to judge.
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    Originally posted by vince
    Lets see EOS1Ds = $12800..nets limit $2000, cheque take 2 days to clear and CP oni accept if super regular. So how? Walk around with $13K cash and hope you don't get robbed? Or, zzzaapp! sign and write cheque for full amount later to card company?

    EOS10D = $2650...nets limit, still $2000...so grab cash...ATM card max out per say I think is $2000... still $650 short hmm...bugger the hassle and zzaaap sign again...

    Not everyone lives on credit. Some use it for convenience. Don't be so quick to judge.
    I think you can NETS $2k and withdraw the rest, not a problem. Been there, done that. Only if you need to buy something > $4k....

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  6. #26
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    Originally posted by ckiang
    I think you can NETS $2k and withdraw the rest, not a problem. Been there, done that. Only if you need to buy something > $4k....

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    Why bother? I can just go to CP, don't have to worry about withdrawing cash and walking around with it, and write a cheque and mail it off later. More convenient issn't it? Anyway CP doesn't charge addt'l for using credit cards so I don't bother. Only when retailers say that credit card has a surcharge then I'll pay by cash/NETs
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    Don't forget also that some credit card companies (Citibank and StanChart come to mind) offer interest-free instalment schemes that help to spread out payments over 6-12 months.

    On the NETS thingie, I think you can ask the bank to increase your NETS limit (both for NETS debit and also cash withdrawal). If your bank allows, can increase to $3K NETS, $3K ATM for a total spending power per day of S$6K (or more!!)

  8. #28
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    Originally posted by vince
    Why bother? I can just go to CP, don't have to worry about withdrawing cash and walking around with it, and write a cheque and mail it off later. More convenient issn't it? Anyway CP doesn't charge addt'l for using credit cards so I don't bother. Only when retailers say that credit card has a surcharge then I'll pay by cash/NETs
    You're right. If the shop does not surcharge you, by all means sign for it. You will have to anyway, if you are buying maybe a 1Ds. Unless you really want to walk around with $14k cash....



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    Originally posted by vince
    Lets see EOS1Ds = $12800..nets limit $2000, cheque take 2 days to clear and CP oni accept if super regular. So how? Walk around with $13K cash and hope you don't get robbed? Or, zzzaapp! sign and write cheque for full amount later to card company?

    EOS10D = $2650...nets limit, still $2000...so grab cash...ATM card max out per say I think is $2000... still $650 short hmm...bugger the hassle and zzaaap sign again...

    Not everyone lives on credit. Some use it for convenience. Don't be so quick to judge.
    Not judging what..... what you said is true. But i feel that if one does not want to pay the 2-4% then jolly well go through the trouble of withdrawing the cash in advance.

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    Lavenderlilz, Nitrotech,
    Point taken. I agree that we should only spend what we can afford. Usage of cc is really a personal thing.

    But the point of discussion is why 4%? Raven mentioned that cc companies charge 1+% while Watcher said that Diners charge 4%.

    So it seems that it depends on what kind of card you are using. I don’t mind paying, as this is a cost to the merchant. But if I use a card that charges 1.5% versus 1% charged by NETS, shouldn’t I be paying only 0.5%?

  11. #31
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    Originally posted by ckiang
    You're right. If the shop does not surcharge you, by all means sign for it. You will have to anyway, if you are buying maybe a 1Ds. Unless you really want to walk around with $14k cash....



    Regards
    CK
    Actually, walk around with that much cash oso shiok shiok feelin...hahaha
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  12. #32
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    Originally posted by Darren
    Don't forget also that some credit card companies (Citibank and StanChart come to mind) offer interest-free instalment schemes that help to spread out payments over 6-12 months.

    On the NETS thingie, I think you can ask the bank to increase your NETS limit (both for NETS debit and also cash withdrawal). If your bank allows, can increase to $3K NETS, $3K ATM for a total spending power per day of S$6K (or more!!)
    You're right, you can request a higher limit. But we don't really make big purchases often.

  13. #33
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    Originally posted by Stoppable
    Lavenderlilz, Nitrotech,
    Point taken. I agree that we should only spend what we can afford. Usage of cc is really a personal thing.

    But the point of discussion is why 4%? Raven mentioned that cc companies charge 1+% while Watcher said that Diners charge 4%.

    So it seems that it depends on what kind of card you are using. I don’t mind paying, as this is a cost to the merchant. But if I use a card that charges 1.5% versus 1% charged by NETS, shouldn’t I be paying only 0.5%?
    I don't recall NETs charging 1% or anything for that matter. Usually NETs is same as cash rite?
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  14. #34
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    Originally posted by Stoppable
    Lavenderlilz, Nitrotech,
    Point taken. I agree that we should only spend what we can afford. Usage of cc is really a personal thing.

    But the point of discussion is why 4%? Raven mentioned that cc companies charge 1+% while Watcher said that Diners charge 4%.

    So it seems that it depends on what kind of card you are using. I don’t mind paying, as this is a cost to the merchant. But if I use a card that charges 1.5% versus 1% charged by NETS, shouldn’t I be paying only 0.5%?
    Perhaps you could write in or call up the bank and enquire about the charges. If the bank can't answer then maybe call CASE?

  15. #35
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    Originally posted by espn
    .............I know AP will charge that surcharge if you pay by card.

    Btw, the use of NETs also has a 1% surcharge.

  16. #36
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    It really depends on the card, yes. NETS < MC < Visa <Amex < DC. Just ask the bosses, they will know the exact rates (ouch! ).

  17. #37
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    Originally posted by Watcher
    It really depends on the card, yes. NETS < MC < Visa <Amex < DC. Just ask the bosses, they will know the exact rates (ouch! ).
    Thanks Watcher. This is valuable info. I guess that is why the starter of this thread really wanted to do... so that we all know that we can also bargain on the additional cc charge.

  18. #38
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    The last I remember, Amex and Diners is 4%.
    The rest are 2%.

  19. #39

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    Amex and Diners is 3.75%, right?

    I think the issue here is not whether I have the money to pay or spending more than what is available in the bank. The issue is more of, why should the merchant surcharge me. If they are willing to accept credit card, then they should bear the costs, and not the consumers. True, I can pay with cash or nets. But then why not credit cards then? I have the right to use credit card too.

    Someone mentioned that the profit margin of cameras is very low... Imagine... when G3 first launched, it is sold for $1399, now? around $1200 can get liaw.. This is price drop of more than 14%. But these stores are still making profit when they sell you G3 at $1200. So why must I pay surcharge if I use credit card to pay for the G3 at $1399 during its launch? I just dont see the reason.

    Also similarly (but a bit OT), nowadays many restaurants do not give you 1 cents change. For instance, if your total bill is $13.16, and you give them $20, the change should be $6.84, but they return you only $6.80. Then are we going to say, if we cant afford the 4 cents difference, then dont dine in the restaurant? I feel that it is a matter of principle. I wont die without the 4 cents, and neither will I become a millionaire with the 4 cents, but still I feel that as consumers we should fight for it. Hence, this time I go restaurant, I sure use credit card even if the total bill is less than $10.

    Just my 2 cents..

  20. #40
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    Originally posted by trendmatrix
    Amex and Diners is 3.75%, right?

    I think the issue here is not whether I have the money to pay or spending more than what is available in the bank. The issue is more of, why should the merchant surcharge me. If they are willing to accept credit card, then they should bear the costs, and not the consumers. True, I can pay with cash or nets. But then why not credit cards then? I have the right to use credit card too.

    Someone mentioned that the profit margin of cameras is very low... Imagine... when G3 first launched, it is sold for $1399, now? around $1200 can get liaw.. This is price drop of more than 14%. But these stores are still making profit when they sell you G3 at $1200. So why must I pay surcharge if I use credit card to pay for the G3 at $1399 during its launch? I just dont see the reason.

    Also similarly (but a bit OT), nowadays many restaurants do not give you 1 cents change. For instance, if your total bill is $13.16, and you give them $20, the change should be $6.84, but they return you only $6.80. Then are we going to say, if we cant afford the 4 cents difference, then dont dine in the restaurant? I feel that it is a matter of principle. I wont die without the 4 cents, and neither will I become a millionaire with the 4 cents, but still I feel that as consumers we should fight for it. Hence, this time I go restaurant, I sure use credit card even if the total bill is less than $10.

    Just my 2 cents..

    Well, if you are willing to pay by credit card, the same logic should apply too. Then you should willing to pay the surcharge mah. The thing is, I think the shops that accepts credit card actually have to pay for their subscription to the respective banks. So when they charge the 2%, it's actually to pay the banks for the administration of charges.

    I believe the cost prices for shops for products when they are launched are higher than say after a few months. This means that when the G3 are at $1399, the distributors are probably selling it to the shops are $1300 or so. When the price drops to $1200, correspondingly, they are sold to the shop at maybe $1150 or so. The profit margins of shops are really small, if you want to blame, you will have to blame Canon for aiming to earn such a large profit margin for their products.

    And the reason that restaurants and shops don't accept 1 cent coins anymore is because the coin is no longer in circulation. Meaning that they are not making the coin anymore. The ones that are still in circulation are just making it ways changing hands before being recalled by the banks.
    Last edited by Prismatic; 7th May 2003 at 09:21 PM.

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