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 Pay RM3000 with credit card then pay back in 2 mth, What do you guys think?

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TScrabbypatty
post Jul 16 2012, 10:05 PM, updated 14y ago

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This month I have to pay RM3000 and it is somewhat unexpected.

I was given a choice to either pay cash or pay by credit card. I have no problem paying cash upfront RM3000 and I wouldn't have any financial difficulty after that as I have saving.s But I just feel a bit heartache to be parting away with RM3000 and leaving a dent in my saving.

I am actually thinking of paying with credit card and repay back in 2 months (RM1500) each month. However, I'm worried that it will ruin my credit reputation. I have been paying my credit card every month diligently even before the due date and I pay in full; sometimes more. Plus I don't know how the interest rate works out. I'm using a PB Classic Visa card btw.

If you were in my shoes, which will you choose? Pay cash or pay with credit card?

Suggestions?

This post has been edited by crabbypatty: Jul 16 2012, 10:15 PM
TScrabbypatty
post Jul 16 2012, 10:13 PM

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QUOTE(MasterRamen @ Jul 16 2012, 10:06 PM)
bank will love u if u not pay full....but u must pay la...becoz they get lots of interest from u...they will love u as long as u keep paying them..haha
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Hmm, I don't know how the interest rate works. If the interest rate is just around RM50 for the second month, sure enough, I don't mind. At least I have more cash in hand just in case I have emergency.
TScrabbypatty
post Jul 17 2012, 03:05 PM

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QUOTE(chocolatepallette @ Jul 17 2012, 12:41 PM)
» Click to show Spoiler - click again to hide... «


i'm not sure what you have to pay for but if you charge 3k to your card, you can make it into monthly installment with interest blush.gif

check out different's bank monthly installment's interest with the respective bank blush.gif
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Its medical bill and insurance does not cover so I have to fork out. Maybe I'll call up the bank and enquire about the monthly installment.
TScrabbypatty
post Jul 17 2012, 09:38 PM

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QUOTE(pisces88 @ Jul 17 2012, 06:29 PM)
Is RM3000 a big part of your savings? If you plan to leave it in the bank and delay credit card payment, its not worth it, unless its 0% interest repayment plan. Else, it just don't make sense.

If u worry u need the 3k for emergency, you can use the credit card to pay if u hv any emergency.
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Big part not really. Just that I have not parted with that amount of cash before. A bit heartache really.

It's just that I figured that my working allowance is sufficient to cover for the interest. That's why I was thinking of paying with CC
TScrabbypatty
post Jul 21 2012, 02:23 PM

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QUOTE(rayng18 @ Jul 19 2012, 11:11 AM)
just pay in full since you can afford to do that. Not worth to pay extra interest. It makes no difference you pay this month in full or delay till next month by half now and half a mth later
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Ya true.


QUOTE(Mech Warrior 6 @ Jul 19 2012, 10:00 PM)
Peh...3k only. Pay installment 3 mths la..0 interest summore. If rm30k then pay 1 time feel sadding understand la.
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Haha if only I don't have the mentality that RM3,000 is a lot to me then yeah maybe I won't feel heartache. In fact, I would be shopping from morning until night. biggrin.gif

QUOTE(shastri90 @ Jul 20 2012, 12:52 AM)
Well I did the same thing couple of mth before. But in my case I had to use 5k.
first month I paid 2.5k
the the following month was 2.5k + (Interest of 3%=75)+ My current Expenses.They only charged interest for the outstanding by the way.

P/s: Banks Make Money when you pay late, because then only they can charge you interest.

Check with you bank for the interest rate and charges.

Hope this helps. Have a nice day.
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Thanks bro. smile.gif

QUOTE(cypher @ Jul 20 2012, 09:16 AM)
can switch into flexi playment? i did that last year...

but if u got purpose with the 3K, u can go for it..

if not, just pay and dont waste money on interest...
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Not sure eh. Anyway, I've planned to pay by cash.

QUOTE(spyduh @ Jul 20 2012, 09:25 AM)
pay with card got point system?
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I doubt my credit card has any big point system. I mean they got send brochures together with the statement but the stuff is quite boring. Mine is just basic card and compared to those Citibank etc, mine doesn't have anything 'solid'. Anyway I'm just a small consumer anyway. My credit card mostly use for makan and petrol. smile.gif

QUOTE(kayshoun @ Jul 20 2012, 12:39 PM)
chrometophobia
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Haha I'm not sure what's chrometophobia and I went google. Then it says fear of money. I don't fear money. I'm just worried I don't have enough money tongue.gif

Added on July 21, 2012, 2:24 pmAnyway, I generally get the idea of what some of the forumers here are trying to say.

If can pay then pay la. Don't pay for the interest. After all, it's still money that you're paying with interest.

So I decided to pay full in cash. biggrin.gif

This post has been edited by crabbypatty: Jul 21 2012, 02:24 PM
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