Camera Purchase Credit Card Installment


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luntut

Senior Member
Oct 19, 2007
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#3
the prices they quote are fixed. credit card or not.

they only accept 3 types of card, Citibank, DBS, cant remember the third one cos i dun haf.

minimum purchase value of 500 to be able to do interest free installments. if you get a DSLR, confirm hit.

PLEASE DO A MARKET RESEARCH ON THE PRICES OF THE CAMERAS THAT YOU ARE BUYING FROM CATHAY PHOTO, IF THAT ADDITIONAL 100-300 IS WORTH THE INTEREST FREE INSTALLMENTS. if you are not desperate to use that, i advice against you taking that interest free installments. end up paying more for nothing.
 

3in1c

New Member
Oct 23, 2008
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#4
Anyone bought camera from CP using credit card installment payment before? How does it work?
Interest free on purchased amount. E.g. $1200 charged today. 12 months instalment= Every month you must pay $100 on top of whatever minimum you have on your card statement. If not that $100 will incur interest the next month. The key to this plan is: You must pay the instalment sum plus balance minimum duely.

They charge 3 to 5% additional for credit card installment/payment.
Interest free with UOB, 6 or 12 months. Pushing % to consumer is highly marked by CASE, can complain, sure kana.

the prices they quote are fixed. credit card or not.

they only accept 3 types of card, Citibank, DBS, cant remember the third one cos i dun haf.

minimum purchase value of 500 to be able to do interest free installments. if you get a DSLR, confirm hit.

PLEASE DO A MARKET RESEARCH ON THE PRICES OF THE CAMERAS THAT YOU ARE BUYING FROM CATHAY PHOTO, IF THAT ADDITIONAL 100-300 IS WORTH THE INTEREST FREE INSTALLMENTS. if you are not desperate to use that, i advice against you taking that interest free installments. end up paying more for nothing.
As above, UOB.
 

aryanto

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Feb 16, 2005
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#5
Interest free with UOB, 6 or 12 months. Pushing % to consumer is highly marked by CASE, can complain, sure kana.
Dont spoil market lah, this is fair transaction.
I like to buy with cash and not get this, why should ppl buy with CC be paying the same as those pay with cash anyway, the shop has less profit cos have to pay CC company commission, plus they have to wait for settlement.
This is why CASH is KING.
 

#7
Originally Posted by playplay

They charge 3 to 5% additional for credit card installment/payment.​

Interest free with UOB, 6 or 12 months. Pushing % to consumer is highly marked by CASE, can complain, sure kana.

i know its Installment free but there is additional credit card charges 3 to 5% as long as you swipe your credit card?
 

3in1c

New Member
Oct 23, 2008
609
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#8
Dont spoil market lah, this is fair transaction.
I like to buy with cash and not get this, why should ppl buy with CC be paying the same as those pay with cash anyway, the shop has less profit cos have to pay CC company commission, plus they have to wait for settlement.
This is why CASH is KING.
Unfortunately this is the way business is conducted, like it or not people use cc for points that they can redeem later. It is against the law for passing % to consumers, get it right. It is part of COGS and should not be term as lost of profit.
 

3in1c

New Member
Oct 23, 2008
609
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#9
Originally Posted by playplay

They charge 3 to 5% additional for credit card installment/payment.​

Interest free with UOB, 6 or 12 months. Pushing % to consumer is highly marked by CASE, can complain, sure kana.

i know its Installment free but there is additional credit card charges 3 to 5% as long as you swipe your credit card?
As far as I know, CP doesnt.
 

ZerocoolAstra

Senior Member
Mar 13, 2008
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#10
be wary of 0% credit card instalment plans, because if your card's annual fee happens to be due during the instalment phase, then you have no choice but to pay. Can't threaten to cancel in order to get a waiver...
 

luntut

Senior Member
Oct 19, 2007
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#11
be wary of 0% credit card instalment plans, because if your card's annual fee happens to be due during the instalment phase, then you have no choice but to pay. Can't threaten to cancel in order to get a waiver...
i never never never thought of this...... :think: :think: :think:

do you think threatening to cancel right after all the plans are over, will work?
 

#12
the prices they quote are fixed. credit card or not.

they only accept 3 types of card, Citibank, DBS, cant remember the third one cos i dun haf.

minimum purchase value of 500 to be able to do interest free installments. if you get a DSLR, confirm hit.

PLEASE DO A MARKET RESEARCH ON THE PRICES OF THE CAMERAS THAT YOU ARE BUYING FROM CATHAY PHOTO, IF THAT ADDITIONAL 100-300 IS WORTH THE INTEREST FREE INSTALLMENTS. if you are not desperate to use that, i advice against you taking that interest free installments. end up paying more for nothing.
Thanks for the advice. So far I think only CP accepts credit card installments.
 

aryanto

New Member
Feb 16, 2005
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#13
Unfortunately this is the way business is conducted, like it or not people use cc for points that they can redeem later. It is against the law for passing % to consumers, get it right. It is part of COGS and should not be term as lost of profit.
You think too much like a customer, try to think as merchant.

The whole thing of not allowing to pass the cost is not actually a law, it is agreement between CC company and the merchant, same as nets. CC company and nets can punish the merchant but frankly speaking, they will be foolish to do that as Singapore is not such a big market to begin with. Merchant pay subscription fee to have those Credit Card machine or Nets machine.

The shop can always say if you pay cash I can give you better price. Effectively with math that is just the same, just say it differently.

Try selling something on ebay and you will realize how much cut the payment system actually takes to facilitate transaction and suddenly you want to deal with cash, especially when buyer and seller are local and prefer to meet up (also save money on postage).

There are shop that does not practice cash cheaper, and I use my Credit Card.
Do you think Credit Card give you cashback or loyalty point that that should benefit you?
Calculate how much they are taking as profit first and compare with your cashback or loyalty point (and how much effectively you can use), and compare this with how much you safe for cash transaction.

But then again, if you dont have much cash to begin with then you have to go by installment. Go check other shops too like Harvey Norman or Courts who offer installment plan and see which one give you better term.

By the way, make sure you buy what you can afford and not to rely too much on credit. This whole financial crisis from US started with that.
 

Last edited:
#14
You think too much like a customer, try to think as merchant.

The whole thing of not allowing to pass the cost is not actually a law, it is agreement between CC company and the merchant, same as nets. CC company and nets can punish the merchant but frankly speaking, they will be foolish to do that as Singapore is not such a big market to begin with. Merchant pay subscription fee to have those Credit Card machine or Nets machine.

The shop can always say if you pay cash I can give you better price. Effectively with math that is just the same, just say it differently.

Try selling something on ebay and you will realize how much cut the payment system actually takes to facilitate transaction and suddenly you want to deal with cash, especially when buyer and seller are local and prefer to meet up (also save money on postage).

There are shop that does not practice cash cheaper, and I use my Credit Card.
Do you think Credit Card give you cashback or loyalty point that that should benefit you?
Calculate how much they are taking as profit first and compare with your cashback or loyalty point (and how much effectively you can use), and compare this with how much you safe for cash transaction.

But then again, if you dont have much cash to begin with then you have to go by installment. Go check other shops too like Harvey Norman or Courts who offer installment plan and see which one give you better term.

By the way, make sure you buy what you can afford and not to rely too much on credit. This whole financial crisis from US started with that.
Thanks. Thinking if getting a D300 but it is a bit expensive for me. Thus, considering paying by credit card installment.
 

3in1c

New Member
Oct 23, 2008
609
1
0
40
East
#16
You think too much like a customer, try to think as merchant.

The whole thing of not allowing to pass the cost is not actually a law, it is agreement between CC company and the merchant, same as nets. CC company and nets can punish the merchant but frankly speaking, they will be foolish to do that as Singapore is not such a big market to begin with. Merchant pay subscription fee to have those Credit Card machine or Nets machine.

The shop can always say if you pay cash I can give you better price. Effectively with math that is just the same, just say it differently.

Try selling something on ebay and you will realize how much cut the payment system actually takes to facilitate transaction and suddenly you want to deal with cash, especially when buyer and seller are local and prefer to meet up (also save money on postage).

There are shop that does not practice cash cheaper, and I use my Credit Card.
Do you think Credit Card give you cashback or loyalty point that that should benefit you?
Calculate how much they are taking as profit first and compare with your cashback or loyalty point (and how much effectively you can use), and compare this with how much you safe for cash transaction.

But then again, if you dont have much cash to begin with then you have to go by installment. Go check other shops too like Harvey Norman or Courts who offer installment plan and see which one give you better term.

By the way, make sure you buy what you can afford and not to rely too much on credit. This whole financial crisis from US started with that.
Thanks
 

#17
ask for cash payment... u can save up to 5% of the credit card price.

the prices they quote are fixed. credit card or not.

they only accept 3 types of card, Citibank, DBS, cant remember the third one cos i dun haf.

minimum purchase value of 500 to be able to do interest free installments. if you get a DSLR, confirm hit.

PLEASE DO A MARKET RESEARCH ON THE PRICES OF THE CAMERAS THAT YOU ARE BUYING FROM CATHAY PHOTO, IF THAT ADDITIONAL 100-300 IS WORTH THE INTEREST FREE INSTALLMENTS. if you are not desperate to use that, i advice against you taking that interest free installments. end up paying more for nothing.
 

luntut

Senior Member
Oct 19, 2007
1,884
0
36
Punggol
#18
there are a few other shops that accepts too.

benphoto for one that i cant remember right off my head now.. deep inside i know there is at least another "recommended" shop or 2 with that plan..
 

ZerocoolAstra

Senior Member
Mar 13, 2008
9,522
0
0
rainy Singapore
#19
i never never never thought of this...... :think: :think: :think:

do you think threatening to cancel right after all the plans are over, will work?
It all depends on the timing.
For example,
- You sign up the 12-month 0% instalment plan in June.
- Your credit card annual fee renewal is due in December.

With 6 more months to go, there's not much you can do.
The only possibility I can think of is that if you have enough cash in the bank, you can suggest to pay off the final 6months of instalment in one go, and cancel the card. MAYBE they'll offer a waiver. You must be prepared to go through with your threat. Don't cry wolf! ;)
Also be careful of the rewards points system. If you have enough points to deduct for annual fee waiver, that's what they'll do! There goes your free movie tix or whatever it is you wanted to redeem! :)
 

aryanto

New Member
Feb 16, 2005
1,799
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0
singapore
#20
It all depends on the timing.
For example,
- You sign up the 12-month 0% instalment plan in June.
- Your credit card annual fee renewal is due in December.

With 6 more months to go, there's not much you can do.
The only possibility I can think of is that if you have enough cash in the bank, you can suggest to pay off the final 6months of instalment in one go, and cancel the card. MAYBE they'll offer a waiver. You must be prepared to go through with your threat. Don't cry wolf! ;)
Also be careful of the rewards points system. If you have enough points to deduct for annual fee waiver, that's what they'll do! There goes your free movie tix or whatever it is you wanted to redeem! :)
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.
 

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