I've never been a fan of CreditCards because I don't like the feeling of buying stuff I cannot afford and accumulating years of interest and debt. However, recently, I found OCBC Cashflo Card which helps me automatically manage my cash flow.
It has an in-Built Installment Payment Tool and I can pay installments from anywhere - at home or abroad. It automatically stretches my payments over 3 or 6 months with zero interest.
Here's an example of how it has worked for me:
Let's say hypothetically - my fiance and I have a monthly disposable household income of $5000 per month. I set the Trigger Amount on the OCBC Cashflo Card at $1000. (Meaning, everytime a purchase is more than $1k, it automatically gets broken down into 3 or 6 monthly installments for us to pay back, interest free).
The latest big purchase for our new home was a new 3D Smart Tv from Samsung which cost $3K ( actually, $2999, but I'll round up to 3K for easier calculation). We bought this from a participating merchant.
If we had used a normal credit card, we would have to pay $3000 in full at the end of the month in order to avoid getting charged interest. That would leave us with $2000 ($5000 minus $3000) to run the household, for daily expenditure, transport and savings.
Fortunately, because we used the OCBC Cashflo Card to pay for this purchase, the $3000 was automatically split into 6 payments (over 6 months). So we only pay $500 a month, interest free.
That leaves us a much more comfortable amount of $4500 ready cash in our pockets every month.
If supposing we had purchased the TV from a merchant that is not one of the participating merchants, then the installments would be split over 3 months instead. That would mean we have $4000 cash remaining in our pockets each month after the installment of $1000 each month. Still manageable and best of all, interest free!
It's very overwhelming, having to spend on so many things at one time - the wedding (food, hotel, photographer, invites, alcohol, dress, kilt, flowers, cake, etc!!), the new apartment, renovations, new furniture and travel. Imagine once you start having kids!
The OCBC Cashflo Card frees up our cash flow, so we can pay for all these things we need right now for the wedding and new home, and still have money for other investments and savings.
How does it compare to other Credit Cards? You still get rebates and privileges, but you also get the Auto-Trigger Installment and it's 0% installment from anywhere... which most normal credit cards do not offer.
At the moment, with regular cards, most installment plans do not give any cash rebates, so it's either cash flow or rebates. With the OCBC Cashflo Card, you don't have to choose, because customers get up to 1% cash rebate while still being able to enjoy cash flow!
With my upcomming wedding. I've got a idea for a mini-contest giveaway!
The prize is 5 x $100 departmental store vouchers from a partnering merchant - Robinsons Department Store.
QN: How would you use the OCBC Cashflo Card to finance a wedding? (If you are already married or not getting married, you can still take part! Just imagine if you were me, how would you use the OCBC Cashflo card for an upcoming wedding?)
Contest starts today, and ends on 18th October. You can submit more than 1 original answer but leave your email address at the end of each answer so I can contact the winners. Submit your answers in the comments section of this post.
The top 5 most interesting answers will win $100 Robinson Gift Vouchers each :)
p/s- Comments/your answers will not be visible until the contest ends.. so no one can copy your answer (lol).
It has an in-Built Installment Payment Tool and I can pay installments from anywhere - at home or abroad. It automatically stretches my payments over 3 or 6 months with zero interest.
Here's an example of how it has worked for me:
Let's say hypothetically - my fiance and I have a monthly disposable household income of $5000 per month. I set the Trigger Amount on the OCBC Cashflo Card at $1000. (Meaning, everytime a purchase is more than $1k, it automatically gets broken down into 3 or 6 monthly installments for us to pay back, interest free).
The latest big purchase for our new home was a new 3D Smart Tv from Samsung which cost $3K ( actually, $2999, but I'll round up to 3K for easier calculation). We bought this from a participating merchant.
Fortunately, because we used the OCBC Cashflo Card to pay for this purchase, the $3000 was automatically split into 6 payments (over 6 months). So we only pay $500 a month, interest free.
That leaves us a much more comfortable amount of $4500 ready cash in our pockets every month.
If supposing we had purchased the TV from a merchant that is not one of the participating merchants, then the installments would be split over 3 months instead. That would mean we have $4000 cash remaining in our pockets each month after the installment of $1000 each month. Still manageable and best of all, interest free!
It's very overwhelming, having to spend on so many things at one time - the wedding (food, hotel, photographer, invites, alcohol, dress, kilt, flowers, cake, etc!!), the new apartment, renovations, new furniture and travel. Imagine once you start having kids!
The OCBC Cashflo Card frees up our cash flow, so we can pay for all these things we need right now for the wedding and new home, and still have money for other investments and savings.
How does it compare to other Credit Cards? You still get rebates and privileges, but you also get the Auto-Trigger Installment and it's 0% installment from anywhere... which most normal credit cards do not offer.
At the moment, with regular cards, most installment plans do not give any cash rebates, so it's either cash flow or rebates. With the OCBC Cashflo Card, you don't have to choose, because customers get up to 1% cash rebate while still being able to enjoy cash flow!
With my upcomming wedding. I've got a idea for a mini-contest giveaway!
The prize is 5 x $100 departmental store vouchers from a partnering merchant - Robinsons Department Store.
Contest starts today, and ends on 18th October. You can submit more than 1 original answer but leave your email address at the end of each answer so I can contact the winners. Submit your answers in the comments section of this post.
The top 5 most interesting answers will win $100 Robinson Gift Vouchers each :)
p/s- Comments/your answers will not be visible until the contest ends.. so no one can copy your answer (lol).
Comments
1. first determine the big ticket items of my wedding.
2. then evaluate the list of participating merchants for the best rebates and privileges.
3. compare prices of other merchants not in the participating merchants list. Use the price after rebates in no. 2 above as a base to negotiate down the price of these other merchants. Use the privileges in no. 2 above to negotiate for more freebies from these other merchants.
4. Get the best of both worlds. Analyse which is the best deal and lastly, decision time!
One thing's for sure, I will need the OCBC Cashflo Card to finance our honeymoon.
Rings:
Engagement
Bride's wedding band
Groom's wedding band
Fashion:
Wedding gown +
Veil
Shoes
lingerie
Jewellery
Bridesmaid's dresses
Hair, makeup
Groom's suit +
Ceremony:
Venue +
Misc
Reception:
Venue +
Price/head +
Misc
Services:
Photog
Videography
Wedding cake
Entertainment
Transport
I'll pay those with a + sign using th card! Can't pay be monthly installments for services, usually. As for th wedding bands and rings, even though they're costly I would rather pay everything upfront so that I'll feel safer (not financial-wise but... i just feel better like th ring is already mine haha). I think the table per head is best paid by installments because it's uncertain whether or not guests will contribute substantially or fall short which will add onto my financial burden thus to play safe i'd use th card. (:
Lamjasmine@me.com
I would use the Cashflo Card to pay for all the big ticketed items like air tickets & hotel stays for the honeymoon.
lujiahui@gmail.com
Don't worry if your comment does not appear. They will remain hidden until the end of the contest (so no one can copy ur answer)! Thanks!
As for things like flowers and wedding favours, I would check the list of Participating maerchants from OCBC Cashflo and buy from those merchants so I can spread payments over 6 months.
Even though I can afford to pay for wedding expenses straight away... Charging big ticket wedding expenses on the Cashflo Card will be a neat way of earning back rebates and other rewards.
dave@c2c.com.sg
my idea, use the OCBC cashflo card to start paying down-payments for your wedding bills, escp those huge one like banquet dinner, honeymoon, home renovation, so that you wont choke when bills are due-ing at the same time. maximize the zero interet privilege.
(Some of u have already left answers anonymously, and left no form of email etc.)
L3m0nnkiss3s@hotmail.com
mynightlydose@hotmail.sg
mynightlydose@hotmail.sg
mynightlydose@hotmail.sg
Getting married means getting a new place to live in for many people, so I would think that home insurance is a very important coverage we can get for our home. Luckily, the OCBC Cashflo Card enables me to buy home insurance from participating merchants such as AXA Insurance Singapore without any worries about having to pay for high credit card interest rates. I would choose to buy the SmartHome Optimum from AXA Singapore because it gives me coverage for any accidental loss of or damage to the renovation and contents of my home. Not only that, I can also be protected from any theft within my house! Nobody would want that to happen, but it is better to be safe than sorry. ^-^
Also, I would plan for my honeymoon as well. Budget would always limit us to where we want to go, and the hotels we stay in. However, it is a once in a lifetime experience to go on a honeymoon with my newly acquired husband! (hehe, comparing husband to product lol) Planning to go wherever we want, and staying at whichever hotel wouldn't be that much of an issue because I can take my time to pay due to 0 interest rates for 3 to 6 months when we use the OCBC Cashflo card!! :D I can plan to go to Bhutan with Chan Brothers, where I can spend precious time with my husband drinking in the scenery of mountains and living among the clouds and snuggling together with him due to the cold weather. My purrrrrfect honeymoon.
With the OCBC Cashflo Card, I can do so many things without worrying about interest rates for 3 to 6 months! How amazing is that! :D
I love OCBC Cashflo Card because it allows me to have my perfect wedding.
^-^
Sherlyn
chuaqys AT yahoo.com.sg
If I were getting married, I would use the OCBC Cashflo Card to get as much rebate and rewards as I can, while also enjoying the perks of spreading my payments out over 3 or 6 months.
Looking at the participating merchants, I am pleased to see all the big reputable brands such as Singapore Airlines. I would book my honeymoon flights from SQ so it can be split over 6months. Once on honeymoon, all overseas spending will be automatically split into 6 installments too.
As for other expensive items like the gown, and banquet. I will book those early ( 8 months advance) and stagger those purchases, so when I am done paying for one (in 3 months), I can add another purchase to my cashflo card.
kbox@live.com.sg
Email: tingyimyname@hotmail.com
I would use it to hold my dream fairy tale wedding outdoor style under the moonlight and stars similar to dinner en blanc! ;)
But every girl always want to look their best and most beautiful on their wedding day!
With the OCBC Cashflo card, it will definitely make it a much easier choice for us to get both furniture and the dream gown with the extended installment plan!
A win win situation which is made possible by OCBC Cashflo card!
Email: misslynn.is@gmail.com
Name: Lynn
Congrats on your impending wedding! I'm also getting married in nov and if I do have the OCBC Cashflo card, I'll fly my close overseas relatives and friends to attend my wedding! It will be a great surprise for them to join us in our big day. Thanks!
Underwater_sha@yahoo.com.sg
With the OCBC Cashflo card..I will be able to comfortably splurge on my wife in our once in a lifetime wedding. This is how I will do it..
Buy my wife a one carat ring.. ($10,000) in a brand she likes..
I don't usually like to buy things on credit but with this interest free Cashflo card..that will be a big help in making my wife the happiest woman on our special day..
alvinhosc@gmail.com
Jeraine442@hotmail.co.uk
amostan123@hotmail.com
awong0011@hotmail.com
macarenamarshmellow@hotmail.com
Jackie82@gmail.com
Okie, although I'm married, I wish I had this OCBC Cashflo to help me with my wedding back then.
If time can turn back, I'd use the Cashflo for our wedding rings. The wedding rings are probably the most expensive buy we had (excluding the dinner!), with the Cashflo, things wouldn't be so tight for us then. :)
Now if I win the Robinson Gift Vouchers, I'll definitely splurge it on Dylan. Hehehe.
- Jacqualine
jaccyy@gmail.com
thesuper-girl.com
Besides, every time I pay for the installments for the photography and videography package over the next 6 months, I will be reminded to look at my photos and video again! :)
Email: daphne.maia@gmail.com
I won't even be so worried about the cost since OCBC Cashflo Card automatically splits the costs into installments AND I still get rebates and privileges! <3
ruiting90@gmail.com
You can either commonly use it to 1)make payment for the wedding dinner/lunch and still have that spare cash for a great honeymoon getaway to pamper yourself.
Or you can 2) use it to pay for the wedding shoots and wont have to worry too much about the bills after choosing too many great photos to keep.
3) Last but not least u can pay payment for a round europe honeymoon trip and having higher ability to make purchases during the trip aka the cheaper branded stuff after tax.
1) you can use it to make payment for the wedding lunch/dinner if you could not get enough back from the 'ang paos' so that will lessen 1 worry about the high bill after the meal
2) use it to pay for the wedding shoots and with such flexibility of the card you can pamper yourself to choose more fabulous photos to keep as your beautiful memories of that special day.
3) pay for that round Europe trip/accommodations (package tour) so your will have bigger spending power over the cheaper branded stuff and souvenirs and need not worry about another bomb after the great honeymoon.
Michael Goh
jrgoh@live.com
email:jubeskel@hotmail.com
sarah_toh@msn.com
After that, the card will be much more useful for things that will come after the wedding, like buying new furniture and planning for children.
Sarah_toh@msn.com
Answer: I would work out the breakdown of the cost of a wedding first... to see which are the biggest cost! Say for example the main costs are:
Hotel Dinner: S$ 26,000
Photography and Videography: S$5,000
Honeymoon: S$5,000
Others: S$5,000
Firstly, I would try to buy my "others" items e.g. sister's dresses from Robinsons as it is a participating merchant!
I would also pay for the dinner from OCBC Cashflo Card since it is the most expensive, and it would most certainly free up my cashflow to get my photographer and videographer and honeymoon!
Depending on the credit limit, I may need to pay the rest of the expense using a normal credit card.
The Ang Baos from the dinner could be used to cover the amount owed in due course. Hence this ensures that I get to have a grand wedding without stretching my finances and have a good time too =)
Name: Ting
Email: angaitingaileen@yahoo.com
Guessing that the first thing to look for is the venue for the wedding since Singapore doesn't have much hotspots for holding a wedding. I would pick at least a 4-star hotel to hold my engagment and wedding dinner. I believe there are packages to choose from and my fiancé (of course!) can use the OCBC Cashflo Card to pay by 3 installments.
Next is the rental of tbe long awaited wedding gowns which can be split into 3 installments too.
All the other stuff shouldn't spend a bomb except for the honeymoon.
We will book a package to Europe through one of the travel agencies who is a participating merchant of the 6-month payment plan. That will reduce our heartache on shopping for luxury goods like Prada and Louis Vuitton.
kristen7902@gmail.com
It could also be possible that we use the card to get things required for the wedding. For example, the cutleries provided weren't what we wanted, so we head to TANGS to get em, some accessories from Tiffany & Co to match my wedding outfit or a better sound system from Courts for the wedding day if the one provided weren't up to standards!
It's always nice to have things paid in installments so you don't have to survive on eating grass one month after your wedding.
stripsexdeuces@hotmail.com
stripsexdeuces@hotmail.com
Stripsexdeuces@hotmail.com
incaruis22@gmail.com
jerynl@gmail.com
Here’s how I would use it to finance my wedding: Depending on when the cut-off date for my statement to be churned, I would start using my card the day after the cut-off date is. For example, if my statement for the current month will only be available from 15 October, I will start spending on 16 Oct. That way, I will have one more month of leeway or so to manage my cash flow.
I will also request for a temporary increase in credit limit before I kickstart my wedding arrangements.
Back to the exciting stuff: With the CashFlo card; I plan to purchase my Monique Lhuillier wedding dress in NY! Of course the economy return airticket will be charged to my CashFlo card too.
I will also make sure my hubby-to-be applies for the CashFlo card so that he can take care of the wedding reception expenses.
Our honeymoon trip will also be booked with the CashFlo card so that we are able to enjoy the trip without worrying about our cash flow at the end of it all!
rene.yap@gmail.com
assuntaspirit@yahoo.com
I would you use the OCBC Cashflo Card to pay for the gowns, table gifts, accessories, etc as the bill can be split into 3 months/6 months for participating merchants, totally interest free!!
My email is Kristin.minyi@hotmail.com =)
Well, if it is my wedding, I would definitely buy a bed for my new home. Well not just an ordinary bed but a Grandeur Platform Faux Leather Bed Frame KING SIZE :D This will cost me and my fiance around $1000, which will split the payments to 3 or 6 months.
And as we also like to keep check of balance sheet and avoid unnecessary interest, I would fairly say that this OCBC Cashflo Card will help us finance our wedding, without us worrying over anything. Plus we love to snuggle underneath the sheets and try to boost SG's low fertiliy rate (but i think we focus on the former for now). LOL :)
Cheers!
my email: sallehuddin.hussain@gmail.com
Basically the idea I have is to ensure fiscal responsibility - if you already have the cash to pay for something reserved, and can afford the monthly payments, take the money spent on the wedding dinner itself and upgrade your honeymoon accommodations and have more free cash to spend on the honeymoon itself. It'll make it that much more magical. (I think I didn't put it this way in my original comment).
Anyway, apologies if I post twice! Have a great time ahead.
We can use the OCBC cashflo mastercard to make payment for many lovely wedding items such as those stated below. Go on... swipe and sign away like mad! Hahaha retail therapy makes one super happy. Thinking of shopping really psyches me up. =p
1. Choose beautiful wedding favors and bridesmaid dresses from participating merchants like Robinsons, Metro, River Island etc.
2. Get a wonderful luxury good for your partner! Like a husband-and-wife watches to celebrate your wedding day. Get either your names or initials engraved on the luxury watch/bag. It is cool.
3. Laugh your way to a honeymoon! We love celebrating our wedding. Hooray! Apply the OCBC cashflo mastercard for yourself and the hubby-to-be please. Haha. Now we get to go to the honeymoon soon because dear hubby doesn’t get a BIG HEART ATTACK after he looked at his credit card bill right after the first month of marriage. Use the card to purchase some travel insurance too.. just in case we fall sick overseas from too much partying.
4. Use OCBC cashflo to get some furniture and home appliances for your house. Yes, a wedding includes budgeting for good furniture! You really can’t be investing only on your wedding dinner only. That is short term planning. Far sighted wedding planning includes items in your love nest. Bride and groom needs to make sure they have good quality mattress and luxurious pillows and linen and at least a good coffee machine/ fruit juice mixer (depending on your beverage preferences). A good bed is key. You will feel so blessed ending the busy days in the arms of your loved one on a luxurious bed. Ahhh….
Lots of $$ will be spent on a wedding. It is definitely great to pay in installment for all these wonderful wedding items. Swipe the card and enjoy! *muack*
tiffanieTY@gmail.com
1) House renovation
2) Everything i need to buy for the house
3) Insurance
4) Car
5) Basically everything i need later :P
Hope i don't end up in debt!
As wedding planning requires money and effort,I would want to save as much as I could with the card!whats more with zero installments!a great bargain ya!
Bubble_pure@hotmail.com
P/S: Definitely signing up for it since I'm expecting a baby and delivering in less than a month. :) Really hope to win the $100 Robinsons voucher as I've spent so much on baby's stuffs already.
All the best for your wedding!
josefyn.lim@gmail.com
Since the cost of the trip is substantial, flight+hotel. Splitting the honeymoon cost into installments would give more funds to enjoy the honeymoon!
Say NO! to feeling cash-strapped on your honeymoon! =D
Email: queen.xueen@live.com
I would used the cashflo to hire a wedding planner and let her do all the work! easy!
Lilian2@hotmail.com
I recently just got married and if OCBC had posted about this earlier, it would be much help to me.
The cashflo can be used to pay for the my wedding expenses (i.e. catering) and honeymoon to Bora Bora!
The wedding expenses in Singapore is relatively high even though we Malays held it at the Communal Halls; the bookings alone can cost up to $600/.
With its no interest and easy installment payback plan; it seems like the best plan any bride&groom to be can have!
Thank you Holly!
Entries are now closed. We will pick our 5 winners later today. Stay tuned :)
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