I would think most of the time the effective rate of Credit Card interest is lower than Personal loan by 2 - 3%, because PL interest rate is flat basis, whereas CC is reducing balance...
so it is better to pay monthly with discipline to your credit card and not swipe the card...
If cannot afford the camera, don't buy... use your existing one, because after few months... you may already wanna upgrade camera/ lose interest.. and either way, money is wasted...

just look at the 13.97%. that is the effective interest rate... makes u more scared to loan...

same concept like Fixed Deposit eff int rate = 3% and housing loan BLR = 6.6%.

the 7.6% is same as car loan calculation... flat interest rate... looks like lower, but actually it is 13.97%...

hope this clarifies...



This post has been edited by lalachong: May 29 2013, 02:31 PM