Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsCredit Cards Credit Card v18, Post/Ask general questions here, Please read post 1-3 before posting, tq
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 Jan 6 2014, 09:31 PM
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#1
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Junior Member
26 posts Joined: Apr 2012 
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hi,
just one question, if i purchase an item rm2000 using cc, then i pay it like installment, rm500 per month. How much would the (real) cost of the item will be? I'm about to apply credit card, wanna know the concept 1st, all info here is too technical, thus im giving a situation based explanation here. Anybody care to help? ='( |
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Jan 6 2014, 10:08 PM
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#2
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Junior Member
26 posts Joined: Apr 2012
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QUOTE(victorywp @ Jan 6 2014, 09:58 PM) you can opt for 0% installment when paying for an item at merchants like tesco/harvey norman/courts/etc. lets say, the item cant do installment, give example with your credit card, what is the total cost of the item including monthly interest? so let's say your item cost rm2,000 and the 0% installment is for 12 months. then you just need to pay rm166.67 monthly. however, if you purchase an item without the 0% installment at rm1,200 and pay installment at rm500 per month yourself, you will have to incur monthly interest on your cc.   rm2000, pay rm500 monthly |
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Jan 6 2014, 10:24 PM
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#3
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Junior Member
26 posts Joined: Apr 2012
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QUOTE(fly126 @ Jan 6 2014, 10:20 PM) You can have a Try at Here: http://www.citibank.com.my/english/docs/us...-calculator.htm thats what i dont understand? got monthly charges? then got 18% p.a? can someone give a nett calculation how much total i need to pay? Most of the NEW Credit Card will Charging Interest Rate at 18% p.a  This post has been edited by Bleauet: Jan 6 2014, 10:26 PM |
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Jan 6 2014, 11:18 PM
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#4
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Junior Member
26 posts Joined: Apr 2012
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QUOTE(alexwsk @ Jan 6 2014, 11:15 PM) Can you not wait to get the item? Just save your money over the few months before buying it. I strongly advise you not to incur credit card interest by buying the item NOW. thanks for the reply, i think if need pay extra rm78 than normal price, then it still is managable, when ppl said the interest rate is ridiculous, what i imagine is like..rm2000 total will be like rm3000...again, thx for the englightmentAnd if you insist, RM2000 with min RM500 per month, total need to pay RM2078 with interest at 18% pa and also assuming you do not make any further swipes to that credit card. |
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