Interest on splitting a payment for Rakuten CC

[CarlB]

Strange that you prioritize electrical machines over dealing with family emergencies in your home country. But some people are like that I guess.

This is not really the tone we want to see here on the forum. Please reread this: viewtopic.php?t=1175

Looks like your gentle warning did not work.

Beanhead, I wasn't aware that you have been appointed as a moderator. (Or maybe you just like to stir the pot).

[goran]

I thought I had closed the reddit tab. lol

[TokyoBoglehead]

Strange that you prioritize electrical machines over dealing with family emergencies in your home country. But some people are like that I guess.

This is not really the tone we want to see here on the forum. Please reread this: viewtopic.php?t=1175

Looks like your gentle warning did not work.

Yes. Just to reiterate. Splitting payments twice is free with most cards, so there is Zero downside. It can often be a GOOD idea with large purchases so you do not ruin the usability of your card over 1-3 months period. In fact, it is often recommended by store clerks when buying things like appliances.

Splitting more than 2 times will cause you to be charged a fee. But that fee is standardized, and you can calculate the cost ahead of time. Allowing you to budget for it. Splitting is much better than revolving payments, but it is not optimal.

I think it can be used logically and responsibly, and is something everyone should understand when they first get their credit card, especially because cashiers will specifically ask you if you want to split some surprising low-cost purchases! Has anyone had this experience? I swear I was asked the other day on a 3-4000 yen bill.

[RetireJapan]

Strange that you prioritize electrical machines over dealing with family emergencies in your home country. But some people are like that I guess.

This is not really the tone we want to see here on the forum. Please reread this: viewtopic.php?t=1175

Looks like your gentle warning did not work.

It's never an easy decision to delete someone's account (I try to give people the benefit of the doubt) but the number 1 rule of this forum is to keep things friendly, helpful, and supportive.

[adamu]

Judging by the response to beanhead, it was the right decision. Really appreciate the efforts to keep the atmosphere positive here. Regular programming now resumes.

[TokyoBoglehead]

Judging by the response to beanhead, it was the right decision. Really appreciate the efforts to keep the atmosphere positive here. Regular programming now resumes.

I agree. I regret being drawn into the "discussion", but I hate to see lower-income people be the focus of unjust vitriol.

I fear financial advice / investing communities seem to only attract upper middle class and above income persons (and mostly men), and seem inaccessible to others. People need help navigating their current financial realities, outside of the classic spend less/earn more mantra

[KCLenny]

Thank you for all the support everyone.
I appreciate it and appreciate that people are so understanding of my situation. I realise, like TokyoBogleHead said, that most financial advice sites are for middle class people, and I am definitely no where near that unfortunately. I’m just trying to do the best I can with the options I have, and that includes (in some peoples opinions) some difficult decisions and priorities.
But I appreciate the support and advice this community gives, even with my often silly or trivial questions.

[Roger Van Zant]

The other month I took out 120,000 yen in cash from an ATM using my credit card to cover an emergency, so called キャッシング.
I paid it back in full when my next bill came and the interest was around 3500 yen.
Very useful to have a credit card which allows cash withdrawals; has saved my bacon on a number of occasions!

How much will the interest rate for this kind of deal be？Just curious.
If the bill came the following month, then around 2.92% per month?
Or may be it works some other way.

Well, whatever 3500 yen as a percentage of 120,000 yen works out to be. It's nothing onerous, as long as you pay the whole borrowed sum back in full right away. If you start splitting up the repayment, and only pay 5000 yen per month or something, then you get hammered on interest.

[goran]

The other month I took out 120,000 yen in cash from an ATM using my credit card to cover an emergency, so called キャッシング.
I paid it back in full when my next bill came and the interest was around 3500 yen.
Very useful to have a credit card which allows cash withdrawals; has saved my bacon on a number of occasions!

How much will the interest rate for this kind of deal be？Just curious.
If the bill came the following month, then around 2.92% per month?
Or may be it works some other way.

Well, whatever 3500 yen as a percentage of 120,000 yen works out to be. It's nothing onerous, as long as you pay the whole borrowed sum back in full right away. If you start splitting up the repayment, and only pay 5000 yen per month or something, then you get hammered on interest.

Yeah. Pay right away and it comes to be around 2.92%. That's a good deal if I get into a cash crunch pickle sometime.
If the payment is delayed, 2.92% per month becomes 35.04% per year!!!

[Roger Van Zant]

Strange that you prioritize electrical machines over dealing with family emergencies in your home country. But some people are like that I guess.

It is an order of priorities. Dealing with the real and immediate before the hypothetical.

Keeping a large emergency fund just in case for last minute tickets home is a luxury that many cannot afford. Choosing not to return home for a funeral/bereavement is absolutely a real and devastating choice people make every single day.

I have students simulate household budgeting on low/minimum wages in japan, and plan accordingly including savings. It is very very difficult especially when you are supporting another family member. It is a great exercise to teach many important skills, not least of which, empathy.

Yes, well said.
The offending poster was offering "advice" but in a very snooty, holier-than-thou way.
"Look at me everyone, I can afford to save up a rainy-day fund for emergencies. You are too poor to do so, so have to use a credit card".

Not everyone on this forum is rich. Some, like me, are poor, but are trying to do the best with the little we have.
There is nothing to be gained from one-upmanship.