Can always ask the bank to increase your credit limit.

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

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

You never bought iphone is it?

You can’t nego the retail price. Can’t get cheaper by cash. The 0% instalment is literally taking the retail price and dividing it by financing tenure. Bank is making money from late/minimum payment. Guess what is the minimum payment for 0% instalment?

If there’s no difference, why would you not take the 0% instalment?

And where do you get the “non-marked up” iphone?

Entah.

Kadang aku masuk dalam ni rasa makin kurang IQ aku. Nasib baik la ada juga waras.

Aku rasa betul la apa emino cakap tu

Ok, let’s use other example.

I can also pay my car insurance in 0% instalment for 12 months. Same price if I pay lump sum. Now what?

It’s statistics.

Look at insurance. How do insurance companies cover a lot of money when you pay very little? Because they calculate risk and how much they can cover over premium and still have profit.

Similarly, they calculate likelihood of people missing payment from 0% instalment and they find that they can still make profit.

It’s not that difficult to get. RM30k/year income already can get.

The cc charge is service provider charge. Visa, AMEX etc. Those cannot escape. It will eat into the profit a bit, but giving some convenience to customer to have a bit less profit is acceptable to the business than losing that customer.

Now coming back to the 0% instalment, that is financing by the bank and risk held by the bank. So how do they get profit? Because they look at statistics and find that they can profit from the late charges from people defaulted on their minimum payment, even if some of us pay on time.

Unlike other spending on cc of which minimum payment is five percent of the outstanding balance or RM50 (whichever is higher), the minimum payment of 0% instalment is exactly what you have to pay monthly for your financing tenure.

For example:
Normal - outstanding monthly balance (RM2000), minimum payment (RM100)

0% instalment - outstanding monthly balance (RM2000), minimum payment (RM2000)

So, enough people pay late/less than minimum amount that they can give 0% instalment to those who can pay that monthly amount and still profit.

Again, the financing and risk of the 0% instalment are borne by the bank, not merchant. Merchants only pay for the service provider charge.