A Story About Installment Payments

Credit card installment payments are very convenient. To be able to have something now and pay later (multiple payments) is always good, but this privilege needs to be handled with care or it will hurt you. We will use one of my recent transactions as an example.

This is my Montblanc Tribute to the Mont Blanc Series 149 Le Grand fountain pen. I bought it from the Montblanc store in the Rustan's Department Store in Makati City. It was a lifetime investment, since a Montlbanc fountain pen will last a lifetime (and because it was so expensive). Installment payments are designed to help us acquire things of this nature, especially when very expensive and intended to last for a long time.

Why pay in installments? It's convenient! And you can buy things you can't usually get using cash. That pen cost me a fortune, and I will pay for it over 24 months. I used my Metrobank Travel Platinum Visa to pay for this, which allowed me to use Metrobank's generous payment terms.

If that sparks your interest, this is a link to Rustan's. They specialize in luxury products.
https://www.rustans.com.ph/

HOW TO HANDLE INSTALLMENT PAYMENTS:

Be aware! Some credit product issuing banks have better offers than others. Some might offer longer and easier payment terms while some offer delayed payment schemes. It all does depend on how much you know about your own credit portfolio. Sometimes, these offers are very quick, so pay attention to the emails you receive under promotions. Also, some merchants might have better terms for specific credit companies like Visa, Mastercard, and American Express. For example, JCB which is based in Japan will obviously have better offers there, just like how Unionpay will have better offers in China and Hong Kong.

Be practical! Sometimes we want very expensive things all the time. When making large purchases, plan things out. I use a planner for the sole purpose of planning my long term purchases and investments. Also, do try to plan ahead when you want something really badly. Try to find the best deal, the best credit card to use, and the best time when to buy. Also, remember that you will always pay full price. Remember that in the end, you won't pay less, just pay over a longer period of time.

Do not be caught unaware! I wasn't joking when I said QUICK. These offers come and go daily, and I have to clean up my email inbox at least once a day. Remember that if you miss out because you were too lazy to read ads sent to you, it will be your loss, maybe even for something really needed. Don't let it happen.

Do not lose control! Like I said, you will always pay the full price. Don't allow yourself to be enticed by sweet, juicy offers and terms. Remember that you have other needs. If you miss out on payments or fall short, you might end up paying interest fees and late payment fees, which nobody likes.

I wish you luck in your shopping adventures, and may you find the best deals always!

IS THERE SOMETHING YOU WANT TO BUY WITH INSTALLMENT PAYMENTS? SUGGESTIONS? OR MAYBE YOU KNOW OF A GOOD DEAL? COMMENT BELOW AND TELL US MORE!

Thank you for reading my blog. Feel free to comment and if you need to reach me personally, leave me a comment saying just that. I read all my comments.

*All images here were just taken from the internet with the assumption that they are in the public domain. [But I took those photos of my Montblanc] This blog was written with no intention of damaging anyone's public image, just sharing my opinion and experience.

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