Credit Card that refunds cash-out and convert to 0% installment.

**swordsman** · June 28th, 2010 04:56 PM

A few years ago, i had this credit card which has this service. You buy any items in cash, submit the receipt to the card company and convert the amount to 0% interest installment. After processing, your cash out will then be refunded to you via check. I'm not sure about the name of the card but i think it was Asiatrust. Are there any other card companies still offering this service?

Follow-up question. Would the usual CC companies(BPI, Citibank, etc) allow you to avail of 0% deferred payment payment on purchases that are straight card purchases?

**tidus1203** · June 28th, 2010 05:34 PM

All CC companies have some form of that pay in cash then charge it to them and pay in installments... I know BDO has one and Citi also has one. Now whether they are interest free or not is the difference since I remember BDO and Citi will charge interest on it...

**kotiko** · June 28th, 2010 07:08 PM

I believe sa BPI what you can do is have the amount transferred from your current balance to your SIP balance (which means your current balance will be reduced to what ever amount you transferred to SIP). However you'll need to apply and fill up a form for that in a BPI branch or fax it over to them, then there's a 1-3 day approval time.

I inquired about it a month ago but the extra process kinda turned me off so didn't push through with it.

**KERSMcRae** · July 2nd, 2010 07:12 PM

yes, BDO charge an interest. I havent availed it myself coz most of my purchases are charged to my other CC.

**swordsman** · July 8th, 2010 01:51 PM

Originally Posted by kotiko

I believe sa BPI what you can do is have the amount transferred from your current balance to your SIP balance (which means your current balance will be reduced to what ever amount you transferred to SIP). However you'll need to apply and fill up a form for that in a BPI branch or fax it over to them, then there's a 1-3 day approval time.

I inquired about it a month ago but the extra process kinda turned me off so didn't push through with it.

Yes, i just inquired with BPI and it is possibe to transfer the amount to the SIP. For 24 months period, the interest is .60 %. How do they exactly compute the interest? let's say i want to transfer 50,000 to SIP for 24 months period. So what will be the monthly amount i'll be paying for that 24 months period?