Credit cards: Good news for PC buyers. PC Stores beware.

[dexterdal]

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maau ni kay hapit na sad pasko..

mo gara na sila samot kay hapit na ang pasko

[mini_mouse]

agree jd ko nimo spookey.. hehe.. naa mn gani uban nga personel sa pc store nga wlay ayo alaman about sah parts sa pc.. mo huwat pa ka kai manawag pa cla sa ka2 kamao..

tinuod gyud ni bro. I think some store owners hire them kay murag dili kaayo ni mopalag ug increase sa sweldo. Hehehe. No offense ha.

[jintatsu]

mao gyd mini_mouse.. heheh

[muzikfreakah]

well coming from an establishments point of view:

You see, banks charge up to 7% (5-6% for some depending on bank) and frankly speaking, with the way the industry is going, this is more than the computer shops profit. Most of the time the establishments earn less than 5% even on the hardware that we sell.

Another option would be to just not accept credit card payments. And maintain the competitive prices.

So the Patung on credit card is really more for the consumers atleast they have an option to get items cheaper. There is a misconceoption man gud, consumers sometimes think ang mu gain sa additional percentage is ang establishment when actiually its the bank gaining from it. Sayang the Gov doesnt get it or, dili regulated ang price sa tanan butang gi baligya diri sa pinas.

Here is a sample:
Lets say an 80 gig Hardrive costs a regular shop 2,200.00
Lets say ang markup for viewing purposes is 10% (atung dakoon) which is 220 pesos = 2420.00

Then bank gets 6% of 2420 = 145.20
So:
2420 - 145.20 = 2,274.80

Which gives the establishment:
SRP 2274.80 - Cost 2,200 = 74.80

It just wont be worth it to sell, how will they maintain their shops with these kinds of kita?


Giving cash discounts is regular in any business even with most appliance stores mas barato gyud kong cash, not only tungud sa bank surcharges but also because ang the establishment can get cash right away and matuyuk dayun ang money unlike sa credit nga they have to wait for bank to release money.

There are also numerous big companies in the country who are opposing to this new law, rule or watchemcallit.

IMHO: Ang bank unta dili mu charge kay sila daghan nag kita ug kwarta, anyway they already gain from the credit card membership fees, surcharges etc.. to them we should pay for THEIR technology. Mura manag kung akong panindutun akong tindahan ang customer muy pabayrun.

FYI: At arctech only selected items will be allowed for credit card payments the rest will be cash only.

[dagget]

yes its true the credit card company takes 5% of the total amount. 95% goes to the merchant.

What is that 5% for??

-computer servers that process the payment. (Imagine running computers 24hours a day/7 days a week) who will pay for the electricty for that (do you think the merchants are willing to pay for the servers The software that comes with the servers The upgrades for the servers and software The electricity)
-operating a toll free hotline(If your card gets lost or stolen you want to call and cancel the card right?Huh) do you think a toll free number is FREE( the credit card company pays for it)


In the end not the whole 5% is kept by the credit card company. It is used to pay and maintain the service.

[dagget]

Giving cash discounts is regular in any business even with most appliance stores mas barato gyud kong cash, not only tungud sa bank surcharges but also because ang the establishment can get cash right away and matuyuk dayun ang money unlike sa credit nga they have to wait for bank to release money.

I think this is not the entire story......

Appliance store are given 30-60 days by their suppliers to pay for their order.... Suppliers can even extend a credit line with no interest....

so when you say mo tuyok dayon ang money..... sobra pa sa tuyok kay dili man mag pa bayad ang supplier sa appliance.... 60 days paman sila mo collect... some even give 90 days....

When you supply to a grocery like metro ayala, sm, gaisano etc.... they ask for 30-60 days....

sobra ra gyud sa tuyok.....

[dexterdal]

N besides lets say naa kay ganahan palit worth 30k, mas maayo man gud kung credit card lang imong dalhon kaysa sa cash.

[muzikfreakah]

Thats trued dagget but is this 5% the only source of income sa bank? They are even giving free cellphones for time depositors etc... ngano daginoton paman ang 5% and they term this as "processing fee" mura manig sa universit nga "misc. fee" hehehe

Look I believe in paying service charges for rightful service provided.
Lets put it this way, would you find it ok if google charged us to use their servers?

[muzikfreakah]

I think this is not the entire story......

Appliance store are given 30-60 days by their suppliers to pay for their order.... Suppliers can even extend a credit line with no interest....

so when you say mo tuyok dayon ang money..... sobra pa sa tuyok kay dili man mag pa bayad ang supplier sa appliance.... 60 days paman sila mo collect... some even give 90 days....

When you supply to a grocery like metro ayala, sm, gaisano etc.... they ask for 30-60 days....

sobra ra gyud sa tuyok.....

Well im buying an LCD TV and an HT system at appliance store this week, why are they going to give me a huge discount if I pay in cash?

Im not really getting you arguement here, What do you mean by sobra sa tuyok? Kung negosyante ka, kapila maka tuyok the better, more return for your buck thats why kung naa pa gyud sila terms sa supplier nga 30-60 days the better pa gyud the more they want to be paid in cash para maka "tuyok"

Lets put it this way If you loan from a bank 1,000,000.00 and you have 1 year to pay it. If you buy and sell 1 house a month the good for you right? by the end of the year youd made money already and return to the bank their money, but if you buy and sell 2-5 houses a month the better right? There is no limit to what you can do if you want to do it.

Kung ang suppliers muhatag ug terms nga 30-60 days then ang appliance store can buy and sell more TVs in that period taking advantage of the term making more profit for them right kaysa mu huwat sila sa bank nga mu release lets say 1 week sa payment dako nakayo nakaoon ana sa time.

[fd]

I agree with Ryan but this whole issue is the DTI's fault!

Kita ray gibinuangan.. they passed a law which has a loop hole.
wala na lagi charge but establishments pod kay himoon nalang discount ang cash, which is the
other way around.

some useless people in the government are already starting to annoy me.