I bought tv using senheng, paid using public credit card installment
2.8k for 6 months.

But I see my credit limit direct minus full amount 2.8k

So I need to pay full amount or what this month?

They block 2.8k from ur credit limit usage.

But will only post monthly instalment when your monthly statement come out.

Ok what.

kecian. buy tv also need installment.

Hold your whole limit
But pay 2800÷6 per month

This post has been edited by PJng: May 26 2023, 11:02 AM

your credit card limit deducted 2.8k cause bank help you pay 2.8k to retail
so naturally you are owing bank 2.8k, hence the limit deduction

but you still paying the agreed installment amount every month, the limit will be released accordingly

pay the outstanding amount of ur cards timely


thats all

pay what they state as outstanding...

If pay minimum amount, the interest will be charged on the balance right?

i think you guys mean statement balance

Yes.

But my maybank credit card when i take cash instalment or buy stuff instalment plan, the full monthly amount instalment plan will kira inside minimum payment as well + 5% from the rest total outstanding balance.

Minimum oayment become very high 😅

of coz limit reduced, because u use the limit from the card.

installment amount also must within credit limit.

example ur card limit 5k, u cannot buy installment amount of 6k (let alone higher).

when u pay the installment, the limit is increased again (in ur case, increased 466.67 per month)

This post has been edited by erry-: May 26 2023, 11:14 AM

no fair liao .. u rich can say like that lor
not all rich like you

first payment a bit high (not so high) since include some fee
all the rest payment will deduct accordingly

I doubt ur cash savings is more than me.

I got around 900k ringgit cash savings

I just try only to pay using installment since I never use before.

not just the installment balance, but ALL balance.

just pay full statement balance by due date, so ur 0% installment will be really 0%.

example installment 466.67 + other spending rm3k = pay FULL 3466.67
DONT just pay min 616.57 (5% of 3k = 150 + 466.67 installment) or any amount below statement balance!

if u do that, not just 2850 (balance from 3k), but installment balance 2333.33 + new spend ALL will get interest!




nops. 1st till last month should be same. bcoz thats 0% installment by merchant.

the 1st month got fee is for "swipe full amount and call bank later" to convert (even this, some bank did have 0% offer while some do have few charges example 0.88% etc.)

This post has been edited by erry-: May 26 2023, 11:19 AM

can we pay fully terus next month?

will deduct the total limit credit of TV price and devide 12 months.
make your card payment timely, otherwise one more brankkup case

how come you got 900k cash savings but still ask stupid questions?

i b40. no money to buy tv.

I B40. bank acc only got rm3k.

What TV is that so cheap 2.8k?

Smart move
Since it's zero interest
Why not? No harm.

SSHHhhhh... jangan tanya soalan susah

2.8k for 6 months 0% installment

After few days 466.66 will appear in your statement when you check online. So this coming statement you only pay 466.66 instead of 2.8k. And so on for the next few months until settle.

This post has been edited by la bella: May 26 2023, 11:56 AM

it will count as "extra" payment.

based on this installment plan by merchant,

if next month (june) statement just installment and no other spend, and u pay full 2.8k, then, the bank will still take 466.67 as payment, and 2333.33 will be carry fwd to july.

for july statement, if u got spend, total example 2k, statement should be 2466.67
but it will deduct the carry fwd 2333.33 so the statement will be just 133.34
next statement after that, 466.67 will be charge again as usual (plus ur other spending, if got)



This post has been edited by erry-: May 26 2023, 11:59 AM

dont say like that lor.. all of us rich in its own way.. not money only

so better stick to the installment plan then....

I always make use of 0% installment. I try to coincide with warranty period so that I know my warranty ends when installment ends.

yupz. its 0% some more

0%instalment plan is debt trap, missed one payment and they charge u super high interest due to default.

Works on poorfag, good money for cc.

Warranty period usually > 1 year. Got bank offer 0% Installment plan longer than that?

Tered can close liao since answered by almost all the posts

I am unsure MY. But in SG, we can stretch to 3 or 5 years based on card type

yes, HSBC for example lol, the transaction size has to be >2k to be eligible for 2 or 3 years of instalment period.

Don't look back , it's FREE TV

u must understand cashflow

besides, 0% interest wei

If there are full payment VS 0% installment, go for 0% if there is such choice.

I c I c. Maybe I only use pipit card la lol usually see 0% instalment plan up to 12 months only. Sometimes I saw 24 months but macam not 0%.

FYI, some bank got payment fee for long installment in senheng.

Eg, 50 ringgit 1 time payment for 12 months, 24 months for 100 ringgit.

I like senheng because got 5 years warranty.

Usually shopee will have cheaper price

Since i got time to burn.

TS, if anyone has not mention this to you, for your consideration.

For instalment plan (IP) and BT, its best to use a bank CC card with 0 statement balance before embarking to such plan.

Preferably, also not use the said card for spending while you are on such plan. If you need to use, MUST pay in FULL before statement due date and never a partof or minimum payment for the said card. If you pay part payment, you may not be paying on that month IP/BT payable.
Look out for the default reversal clause of your IP & BT.

Many ppl had it reset, reversed not knowing.

With this you will have a clean accounting and easy monitoring of your IP and BT repayments.

To be safe, you use that one card for IP/BT plan and not mix with spendings.

This post has been edited by jojolicia: May 26 2023, 04:31 PM

I will buy with 0 interest rate promo whenever I can, I have bought tv, DVD, digital camera, phone etc

I still don't understand what is Balance Transfer.

How to use? 0% interest also?

sexysarah aka kevin looks at this tered with disgust.

2.8k deduct from credit available, u can continue pay the installmemt amount as per statement balance due

it's using credit card B to pay your credit card A's debt via instalment plans.

i'm pretty sure you can find these info on your bank's website.

This post has been edited by Yenactiet: May 26 2023, 03:18 PM

use two cc
one for EPP one for monthly spend
senang kira

i got 4 credit cards:

cimb: monthly bills including insurance only
maybank: EPP 0% interest installment for gadgets ONLY
hsbc: petrol, car servicing, unexpected emergencies
bank muamalat: groceries, dining

but i don't mind the annual cc fee of rm25 x 4 though.
To ease my mind so that i don't mix up EPP 0% interest installments with other spendings. Later will incur more interest actually if i don't pay AT LEAST BALANCE STATEMENT every month.

Let's say you have CC outstanding at bank A,B,C, and the interest rate are so high like 18% because you didn't make full payment.

You can balance transfer all of them to bank D, at a lower interest rate, sometime got promo 0% also.

Just contact bank D and fill up some forms.

Let say you got one credit card, credit card limit is 10k, and you go buy 12 items each with installment.

Let say item 1 amount is 1200. first installment payment is rm100
Let say item 2 amount is 1200. first installment payment is rm100
Let say item 3 amount is 1200. first installment payment is rm100
Let say item 4 amount is 1200. first installment payment is rm100
Let say item 5 amount is 1200. first installment payment is rm100
Let say item 6 amount is 1200. first installment payment is rm100
Let say item 7 amount is 1200. first installment payment is rm100
Let say item 8 amount is 1200. first installment payment is rm100
Let say item 9 amount is 1200. first installment payment is rm100
Let say item 10 amount is 1200. first installment payment is rm100
Let say item 11 amount is 1200. first installment payment is rm100
Let say item 12 amount is 1200. first installment payment is rm100

total you paid is RM 1200 right? so, your card limit is still okay right?
i never of this way of spending a credit card. hahaha...

your credit limit will get deducted by the full price of the item though, so you can only buy 8 items at most

I got 2 card visa infinite, 50k each

Buy what good for installment?

I bought already gadgets, left gaming laptop only

I personally will opt for instalment for things that have long lifespan like what you've said, laptops.

2800 will blocked your cc limit,every month will charge the installment amount in your cc, you can pay min as per cc statement or full payment.

they reserve 2.8k credit limit

then will add back portion by portion whenever u pay for that installment

Its not. If u miss a payment thats ur own fault.

for those that dont know how credit card works and dont know how to read the statement, just pay the statement amount in full and you wont fuck anything up
its hella confusing to read the statement especially if you dont keep all the receipts and remember every single transaction
when you get your statement and want to pay your CC you will see 3 things for sure
1. statement amount
2. outstanding amount
3. min payment

just pay the statement amount and log off and go on with your day
dont bother with the other 2 options unless you know what you're doing
dont bother to read the current limit and whatnot, it will just confuse you even more if you dont know how to read it from the beginning

but to answer TS question, the full amount is deducted on the CC because the bank paid on behalf of you first so now you owe the bank the amount. just that when the bank send you the statement, they will divide the amount by 6 or 12 or 24 based on which installment plan you took. if you took 6 months then it should be divided by 6 and you only need to pay 1/6th the amount for the first month.

How the business and credit card companies gain from zero installment? Like Shoppe also give RM10 discount if use PayLater.

Correct. As i said, to be safe, separate any ongoing IP/BT plan CC from spending use.

There is a default reversal clause to prevailing interest rate to your IP/BT plan in an event of a month non full payment of the instalment plan, even a dollar

This post has been edited by jojolicia: May 26 2023, 05:25 PM

You apply a BT from bank A CC to pay-off your existing bank B/C/D/E CC outstanding.

Rate for BT differs from time yo time by bank A. I think now macam no 0-cost BT, minimum have one-time fee (x% of BT sum or flat fee) .

Dulu dulu when BT was first introduced, ade many 0-cost

This post has been edited by jojolicia: May 26 2023, 05:27 PM

lol don’t know why /k is so against 0% instalment

Gamble la, pray 1 end user fukken missed 1 payment already untung balik everything

Volume

with instalment plans, business owners can earn more because their products are relatively more affordable as the price is broken down into instalments, more customers = more profits.

credit card companies earn from not only merchant fees, but also late payment interests in the context of 0-interest instalment plans.

depend on bank

in layman term is

you have A credit card that have 20k outstanding
then you balance transfer that 20k into B credit card and break it into installment
whether it will have interest charges or one off processing charges that 1 will depend on bank
if u fail to pay B credit card outstanding then u will kena extra interest


reason of B offering that is want to bind u for certain period of time with potential opportunity cost from u


RHB even offered 15k cash advance 0% interest + 0% processing fee if you are first time to them

This post has been edited by fantasy1989: May 26 2023, 04:32 PM

Nothing to be disgusted about. Its just a facility knowledge and sharing for those embarking IP/BT plans

This post has been edited by jojolicia: May 26 2023, 05:22 PM

if you didn't pay accordingly based on statement date, will kena interest yo

many thought is a benefit and keep use installment plan and thought they can repay monthly....thus some keep using the cc for installment and rack up the monthly repayment (provided the cc limit is 10k above la)
if poor in management, plus their monthly expenses and etc....some unable to repay back the installment amounts and thus the interest started.

That's how they earn from 0% installment, to target those with poor management on their monthly income - monthly expenses and etc

Another thing to note: bank cc do not give much cc points or cashback if you use 0% installment. (E.g., 1x point for MBB if using 0% installment, 5x if pay outright).. many don’t take this into consideration..

TS example: 2.5k on TV is almost enough miles for one way ticket to Langkawi on MH yo…

This post has been edited by sheldonyong: May 26 2023, 04:50 PM

You pinjam dgn bank 2.8k.... you mintak installment 6 months...

Mmg credit limit will deduct the full amount.

You ingat 466.66?

I see .. means if your CC already reach 8K and your limit is 10K .. you can only request for installment up to maximum 2K only regardless of months to pay back?

Short answer : Yes

Thanks for the clarification. I'm trying to avoid personal loan to purchase 15K Workstation Desktop ... seems no choice then.

maybe u should ask yourself do you really need that 15k worth of workstation to perform your duty - which u need to get it thru "personal loan"

Terkejut a bit I when I first read your post.

I thought monthly install is rm2.8k per month for 6 months

I thought someone bought one of the Samseng 96 inch mini LED TV hnnnnnnnnngh

Daddykasi 900k???

I doubt ppl who earn that amount don't know about how zero installment work. Kek.

Can always ask the bank to increase your credit limit.

Or get new CC with cash promo and 0% interest in repayment.

Yup. It's for my PhD project. I've already owned a server worth 25K and 10K NAS via personal loan. It is just I need additional workstation as a complement for my project. But after viewing the OPR up and down for the past 3 years for my current loan ... the interest keep going up.

This post has been edited by Irzani: Oct 1 2023, 09:21 PM

It seems this can work ... personal loan interest is too crazy for me to absorbed

not sure if that is short term or long term

if short term ; have you checkout hosting/cloud services?

if long term then no choice ..consider that as investment All the best

----
or ..apply another card ..then 0% balance transfer old installment to new card ; then old card go installment that 15k machine

This post has been edited by fantasy1989: Oct 1 2023, 09:25 PM

Furthermore PC parts age really fast. Every few years faster better nodel keep get roll out

If you do have a steady and high income, applying to increase credit limit or applying for a new card shouldn’t be a problem.

Current Ringgitplus promo ends on 2nd October and none gives 0% cash upfront. Wait for next round

now only saw this, good explanation. i also alwiz wonder how much can it benefit as i never try before balance transfer but always heard friend uses it to balance his commitments

Yes

BT might be good option if you have outstanding that you cant settle all at once

if used back my earlier scenario
if no BT ; your A credit card balance/outstanding will continue snowball (if u fail to serve minimum u will get even more yahudi interest + penalty) - can be up to 18% p.a

if you did BT to B bank; atleast you are kind of halting it to further snowball (with some processing fee + fixed amount of interest p.a [some might give 0% or usually like 6 to 8% p.a])
after you do BT ; the only thing u need to focus is pay full every month till it habis

if korek lubang A ; patch with lubang B ; then continue korek another hole ..then sorry la

This post has been edited by fantasy1989: Oct 1 2023, 09:47 PM

ayam tatau, ayam wise je

basically like a new refinancing package right? where the bank B now at least can offer a better terms of repayment than just min payment via bank A until death

Yup

but many ppl exploit that ..

A 20k outstanding
BT A outstanding to B credit card
then continue spend on A or using TNG to cash out to pay B credit card installment
repeat for C D E F G

This post has been edited by fantasy1989: Oct 1 2023, 10:08 PM

stended la, some people have no sense of financial responsibilities wan

if can get away they just keep dragging and dragging their demise

most kesian is those who bitch about internet price

kesian tak mampu sub internet

On the surface, you are paying zero interest. But the item cost already included this zero interest "cost" inside.

So yes, in a way, it's better to buy with zero interest then without the zero interest. But it is even better to nego how much discount you will get if you pay everything immediately.

Actually I think so called zero interest products already included the interest cost as well. That's why those products are generally more expensive then those without zero interest payment.

It makes the product more affordable. But at the same time, the price is marked up as well to include the interest that is being paid to the bank. In other words, zero percent installment, you still pay the interest but that interest is part of the displayed price in other words you still pay the interest in the end even though it's "zero percent" interest.

There is no free lunch in this world.

Nope. Say you want to do full payment but with discount.

Wrong, you pay the same price with cash or other payment method with 0% installment. There is no markup price. it is a flexibility provide the bank, not the shop. The shop will get their full payment from the bank, u basically will deal the installment with the bank

Actually you do.
You are very naive if you think otherwise. Like I said, the price is already marked up and includes the interest that would have been otherwise paid to the banks.

Even in shopee, when you choose to pay 6 months, your price that you pay is eventually marked up. What makes you think banks are not doing the same thing but in a more discreet manner.

The only difference is. it will be silly to make the same payment by paying directly vs monthly payment instead for this kind of zero percent schemes. But for me, I will just try to get the discount and pay directly instead.

Banks dun just lend you money for free. But like most people, you are not that intelligent anyway and think in a 1 track mind.

It's ok dun bother to reply. Dun want to waste my time with low iqs.