How does 0% interest works??

[prince_achilles]

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When you buy appliances, example it is worth Php32,400.00 or 2700/month for 12 months, 0% interest,

ilan ba ang makukuha sa credit card mo? ang 2700/month or anu ba effect nito sa credit card mo?



EDIT: I hope i'm on the right thread.

[dodongisputing]

It means exactly as it says. You will pay P2,700 per month for 12 months or P32,400 total, AS LONG AS YOU PAY ON TIME.

[dbalagosa]

When you buy appliances, example it is worth Php32,400.00 or 2700/month for 12 months, 0% interest,

ilan ba ang makukuha sa credit card mo? ang 2700/month or anu ba effect nito sa credit card mo?



EDIT: I hope i'm on the right thread.

Deferred interest tawag ana boss. matud pa ni boss dodong, as long as you pay on time, dili mutubo ang interest ana.

Strategy rapud na sa mga banks para masdali mukagat ang customer. Ok raman pud kay makatabang sa consumer para i break down ang whole sum.

[prince_achilles]

so, unsa man ni xa, example i have a credit limit of 90k,.. den naa koy utang as of now, nga 26k,

den i decided to get an appliance, naa man gud nag ingon nako sauna nga i minus na sa imong credit limit.. how true?

[BatmanBeyond]

It works like this.

If u r to buy a TV and the appliance center says that it's worth 12K, 0% interest to be paid in 12 equal monthly installments; that means that u will pay 1k per month for a total of 12k in all. It is equal to the price. No more no less. Take note that u have to pay on time to avoid any additional penalties.

The sum that u pay is equal to the cash price for that TV. It's juz a strategy to attract sales. But the company either lowers their gross profit or has a supplier that sells it to them at a lower price.

[medwarc]

in other words, wala juy zero interest nga utang.

[prince_achilles]

yup, i got the point of the zero interest.. what i'm asking is the effect of this to your credit card..

does it deduct your credit limit? If yes, how much.. is it the whole amount or the monthly fee?

or

does it add a credit to your account, say if you have an existing balance of 26k sa credit card? if yes, is it the whole amount or the monthly fee?

[bisan-unsa]

pangutana kha ang bank sa imo account kay mgdepende bya na... pwede nimo ipaid ang tibuok amount or ang down lng sa... provided kng ang down lng imo bayaran dapad on or before monthly due date ka bayad... kay ngano like for example last month sa imo giutang nga appliance den na delay nimo ug bayad for 1 day or 2 days kay gideklare holiday so ang effect ana mgbayad ka sa mga penalty good for depende sa pila ka months daw zero interest... so mao na ang customer trap nga dpat bantayan jud...

[fauxprophetess]

yes it will deduct your credit limit the whole amount... like if you have 100k credit limit and you purchase worth 30k in installment.. then the available credit limit you will have is 30k.. but everytime you pay your monthly for the installment mubalik rasad xa. like 3k per month imu bayranan mbalik imu 3k sa imu credit limit

[prince_achilles]

@bisan unsa,

sa appliance center man ko mokuha ana ila 0% interest, so im asking sa kad2ng mga nakasuway dri.. thanks 4 d input anyways..


thanks fauxprophetess.
batia diay sa, whole amount man ang i deduct.. dili unta to..hehe..

so assuming naa kay balanced daan nga 26k out sa imo 100k nga credit limit, so if dili lang ka delay sa imong bayad, dili mapuno sa 26k ang imong bag-ong utang diay sa?

what if kung ma delay ka? haha