Question guys (and gals)...

Are there any establishments that support the installment method to pay for our "addiction"? Something like Paylite, BPI 0%, HSBC yearly and etc?

I have loads of things that I want to buy but can't afford to shell out a huge lump of cash at one time... For example, I'm looking into buying a Tokina 12-24mm soon but can't because of strict finances. The monthly scheme does alleviate that for me... I know Canon does this with their retailers, but are there shops who do this for Nikon brands (and Tokina/Sigma)?

I'm fairly new to all this so I'm not that knowledgable when it comes to where to buy stuff... (got my D70 at Mayer). :Grin:

Thanks!

try JTphotoworld they carry sigma products..i believe they also have 12 months 0 interest installments. :)

Yup, JT Photoworld (http://www.jtphotoworld.com/contact.php) has 12 months to pay. No extra fee if equitable or BPI. Plus 5% if cash

i wish they had that for nikon lenses:)

Tammy , your link for jtphoto is broken.

Tammy , your link for jtphoto is broken.

oops sorry http://www.jtphotoworld.com/contact.php

Thanks, Tammy.

Henry's at Hidalgo offers Citibank paylite.

@Tammy

Diba less 5% if cash? Rather than plus? You might have overlooked lang.

Randy,

If you have a Citibank Credit Card, you can call their center and convert any of your single purchase of P5K and above (or P3K lang yata) from any establishments into a Paylite scheme (3-6-9-12-18-24 months to pay). However, you will be charged with an interest rate (hindi 0%) depending on the number of months of your preferred pay-scheme.

@Tammy

Diba less 5% if cash? Rather than plus? You might have overlooked lang.

I'm not sure. I'll double check if Jan :Grin: SORRY!

There's also Cash-To-Go from Metrobank. If you have a MetroBank Credit Card, you can go to their counter, and you can have a loan from your credit card, equivalent to the maximum available balance, and choose how long you want to pay for it. They will charge you an interest fee of 1.3% a month ata. They will give you cash up front and transaction will take 5-10 minutes.

@nap

wow, tempting yan!

Kaso minsan mahirap yun ganyan spending money na di pa dumarating. Mas maganda yun you buy something zero interest with money you have na. Para you can revolve the funds a little while paying the balance little by little. By the time tapos na yun term, you might have saved up some extra cash for new acquisitions pa.

Kaso minsan mahirap yun ganyan spending money na di pa dumarating. Mas maganda yun you buy something zero interest with money you have na. Para you can revolve the funds a little while paying the balance little by little. By the time tapos na yun term, you might have saved up some extra cash for new acquisitions pa.


That's the nature of credit cards though :D I don't really see it as spending what I don't have yet. More of minimizing the damage from a single act of insanity :) After all, instead of spending 25k on a lens on a single day, use that as a first payment for 2 lenses and a flash kit... You'll have the equip now and take pictures now! Compare it with waiting months to save up for an item, buying it and saving up for another item right after... It'll take the same amount of time but with the installment thingy, you get all the equip you need now for the same/similar cost...

I do understand your point though and I've been there before :BlackEye: Reminder lang... plan your long term spendings if you're going for the installment thingy... and be strict with your budgets! Minimize impulse buys and etc as well... May bagong lenses ka nga pero di ka makabayad ng meralco and di mo macharge camera mo... tsk...

great advice randy. as a banker i may help a bit. lets just talk benchmarks. assuming you have disposable income, dont spend more than 1/3 of your salary to pay debt. Secondly, if your total short term credit card debt is more than your 1 month salary, you're overleveraged. you'll surely have to wait for a bonus to pay that off.

In lieu of credit cards, you can apply for a personal loan (cash) from any local bank or from your depository bank. The interest rates have been quite low lately (about 1.5%/month over 2 years).

In lieu of credit cards, you can apply for a personal loan (cash) from any local bank or from your depository bank. The interest rates have been quite low lately (about 1.5%/month over 2 years).

Now, that's some good advice coming from a banker. If you straight charge it to credit card, you will get a 3.5% monthly interest rate (I think) if you only pay the minimum amount, versus 1.3%/month for a personal loan, say the cash-to-go, which I mentioned earlier. Citibank also offers this kind of service, and the interest rate is less than 1% per month. It will take a while though, some say 3 days, although I have not done this personally. HTH:)

i think columbia has a 6 mos. payment scheme on certain credit cards. i'm not sure if it's already implemented though.

I remember reading a post before that Columbia Digital Sales will be offering 12 months to pay @ zero % interest. Calling Mr. Anderson Tan aka The One for any update. Thanks.

It will be a big help if big companies like Columbia and Canon would offer such.

I hope someone accepts PDCs here. :D hehehehehehehe

I remember reading a post before that Columbia Digital Sales will be offering 12 months to pay @ zero % interest. Calling Mr. Anderson Tan aka The One for any update. Thanks.

yeah, i remember this post also by mr. anderson, hope the 0% interest is now offered to all nikon bodies and lenses at columbia digital, i'll get a d80 asap!

yeah, i remember this post also by mr. anderson, hope the 0% interest is now offered to all nikon bodies and lenses at columbia digital, i'll get a d80 asap!

Hmm... hope this is still on, i'll get a D80 ASAP too :Grin:

I hope someone accepts PDCs here. :D hehehehehehehe
Earl, I think Wilson of Avenue does...depends on the character references siguro...:)

Hi randy! =)

you can try HSBC, they have a promos now just not sure of the specifics like how many percent per month. and also Equitable. you can buy a product now and start your installment on january 2007 @ 0%.

hope it helped.

cez

Earl, I think Wilson of Avenue does...depends on the character references siguro...:)

Really?!?! :Grin: Temptation... Temptation...

Most stores charge 6%-7% on (single charge) credit card sales but effective Nov. '06 the gov't has declared this illegal and should not be practiced by any stores accepting credit cards.

Question guys (and gals)...

Are there any establishments that support the installment method to pay for our "addiction"? Something like Paylite, BPI 0%, HSBC yearly and etc?

I have loads of things that I want to buy but can't afford to shell out a huge lump of cash at one time... For example, I'm looking into buying a Tokina 12-24mm soon but can't because of strict finances. The monthly scheme does alleviate that for me... I know Canon does this with their retailers, but are there shops who do this for Nikon brands (and Tokina/Sigma)?

I'm fairly new to all this so I'm not that knowledgable when it comes to where to buy stuff... (got my D70 at Mayer). :Grin:

Thanks!

i dont think its a good idea to feed your photography hobby with loans or debts. If you cannot afford to buy an accessory from your spare cash, then don't buy it. Its that simple. You must save for your retirement, for your family, for your kids.

Thats a friendly advice, before you bury yourself in debt. SAVE for your future.

Most stores charge 6%-7% on (single charge) credit card sales but effective Nov. '06 the gov't has declared this illegal and should not be practiced by any stores accepting credit cards.

is this true? so, dapat pala I wait after this gets passed? where do we confirm this?

i dont think its a good idea to feed your photography hobby with loans or debts. If you cannot afford to buy an accessory from your spare cash, then don't buy it. Its that simple. You must save for your retirement, for your family, for your kids.

Thats a friendly advice, before you bury yourself in debt. SAVE for your future.


A Prudent advice. I couldn't agree more. That's why I'll use my mother's credit card. :D

Anyway, this thread is about loans and which bank or institution offer the best credit rates and schemes.

We do have to acknowledge that several of our hobbyist brothers and sisters aren't as cash-liquid as others and will opt to go the installment way... will feed their hobby with the same passion as any hobbist will do. I give the benefit of the doubt to our friends that they are prudent buyers and will not let themselves get buried in debt.

Peace.

Most stores charge 6%-7% on (single charge) credit card sales but effective Nov. '06 the gov't has declared this illegal and should not be practiced by any stores accepting credit cards.

There's actually a workaround on this matter. They should post regular price and cash price. Yes they have a right to do so. If you were in their position you would also do the same, kasi mawawalan ka na ng profit since you brought the price down on the understanding it was a cash purchase. And you might end up losing money because of the commission by the credit card company.

That is why there's SRP. To protect retailers from credit card commission.

I have nothing against this law, it protects customers from unscrupulous retailers also. Although may mga customer din kasing madudugas diyan, na tatawad-tawad na kala mo cash buyer tapos biglang bubunot ng credit card tapos magagalit pag sinabing may add-on or iba yun price. Kawawa nga din naman yun store. That's why to protect themselves, they should ask if it is cash or credit first before giving out the price or tag it on their item.

Dapat talaga same lang ang price like in other countries, if cash payment was made, the shop gets a larger profit margin than a card sale, yet the card sale is more likely an impulse purchase so it would've been a lost sale if they didn't offer a card price.

[quote=Brent_Co]There's actually a workaround on this matter. They should post regular price and cash price. Yes they have a right to do so. If you were in their position you would also do the same, kasi mawawalan ka na ng profit since you brought the price down on the understanding it was a cash purchase. And you might end up losing money because of the commission by the credit card company.

Nope they don't have the right to do this as stated by DTI (although I doubt if DTI is keeping track of this). As for keeping up their margins, it's the store's discretion whether to give in to the customer's demand and still keep a healthy margin on what they're selling. If they give in and the customer issues a credit card as payment, it's not the customer's fault.

Heck, they can always do the "unofficially illegal" practice of charging more for credit card payments! :Grin:

From a banker's viewpoint, the purpose of accepting credit cards by a merchant is to generate more sales. Cash sales can generate only so much, but the merchant should be aware that his sales probably double or triple with credit cards. So there is really no business to add a credit card surcharge.

Anyway,the issue is really what is reflected on the receipt. If the merchant blatantly adds a surcharge (i.e. the receipt reflects a 6% surcharge on top of the cash price), he is breaking the law. But if the merchant just reflects one price (inclusive of the surcharge), then he's not breaking the law. Wierd no?

Some credit cards (such as HSBC) actually reimburse the cardholder for the surcharge if the latter presents to them a receipt with an "add-on" surcharge. Ergo, HSBC pays the merchant the actual price (sans the surcharge).

Actually, hindi lang surcharge ang issue. The problems also include VAT and local sales tax. For instance, yung mga restaurants dati absorb a sales tax of lets say, 3% before VAT law. Now they pass on the entire VAT to consumers. SO effectively they pass on the old 3% tax + 10% VAT (so the 3% tax goes into their profit margin!). Ang ayaw lang ng gobyerno yung resibo na binili mo 100 pesos + 10% VAT + 6% surcharge = P116.60. What they want is a bill that clearly states that what you buy is worth P116.60 (and not a tag price of P100 + hidden costs later on) which is nothing but aesthetics.

Good as the law may seem, it is far from being virtuous. They just want prices to be based on the buyer's viewpoint and not the seller's. Personally and candidly, the one who penned this law - so much thought but so very little good - just did an act of (pardon my expression) --- "mental masturbation." :-> hehehe

"mental masturbation" - Nice hehe

Hehe, I guess most guys in power are euphoric daily... :D

There's actually a workaround on this matter. They should post regular price and cash price. Yes they have a right to do so. If you were in their position you would also do the same, kasi mawawalan ka na ng profit since you brought the price down on the understanding it was a cash purchase. And you might end up losing money because of the commission by the credit card company.

That is why there's SRP. To protect retailers from credit card commission.

I have nothing against this law, it protects customers from unscrupulous retailers also. Although may mga customer din kasing madudugas diyan, na tatawad-tawad na kala mo cash buyer tapos biglang bubunot ng credit card tapos magagalit pag sinabing may add-on or iba yun price. Kawawa nga din naman yun store. That's why to protect themselves, they should ask if it is cash or credit first before giving out the price or tag it on their item.

whether cash buyer or credit buyer basta nagkasundo kayo sa tawaran yun ang susundin nyo. actually mas madugas nga yung 6%-7% eh...one time may inaway akong tindera dyan, pinangbayad ko HSBC Mastercard Electronic eh hindi naman credit card yun, debit card yun dahil lang may nakalagay na "Mastercard" dapat daw may 6% charge. tama ba yun?? And besides SRP means "Suggested Retail Price" not "Standard Retail Price", retailers should protect themselves by pricing their goods properly.