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Old 14-03-2019, 11:12 AM   #5092
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Knightoftheblackrose's Avatar
Join Date: Oct 2010
Posts: 4,488
let’s say that your computer costs $1,200 . And you have taken up a 12 months plan .

At the start of the Instalment plan, your available total credit limit will be reduced by the $1,200.

Each month , they will charge $100 to your credit card . This is how the instalment payment plan works.

Please also be aware of the “ hidden “ cost .
If your credit card is due for renewal, the bank can charge you annual fees .
Because of your instalment plan, you have to pay the annual fees in order to continue with the instalment plan if they don’t waive it.

If you cancel your card , you have to cancel the instalment plan and this itself can attract another round of instalment cancellation fees.

Another hidden cost is that some issuing banks might claim that they don’t charge any interest fees, but they can still slap you with administrative fees for setting up this arrangement.

Has anyone tried paying via credit card instalment before? How does it work?
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