A Louis Vuitton bag that can be split to 12 payments?

  1. #1 May 28, 2012
    Last edited: May 28, 2012
    Just got this in my mail and it makes me tempted to make another purchase.

    I was going to cancel this card but didn’t and thank goodness because the bank rolled out this program.

    It’s a credit card for ladies to buy any luxury good from a luxury brand for bags and shoes on...a 12-month instalment plan that is on ZERO % interest. So basically, I can buy a $2,000 bag split between 12 payments and no interest will be charged to me. Sounds like fantastic to be putting aside spare cash while carrying the bag I like!! ARGH this gives birth to the rise of new temptation! :graucho:
     
  2. Don't be tempted! Keep to your original plan. Those offers can be very dangerous!
     
  3. Caveat Emptor...please read the fine print and remember: if it's too good to be true, IT IS!
     
  4. I just called the bank. It is true oh my god! The bank officer confirmed that any shoe or bag from Louis Vuitton can be split to 12 payments on a 0% interest. The only catch is you have to pick a purchase that is $500 and above. Now, that's easy!

    And I can use this in U.S.A or Europe when I travel.

    I don't have to inform the SA that I am using this plan. I only have to send a text to the bank in their format on my purchase information (card number, bag, store branch) and the first monthly instalment will be reflected on my next bill.

    I will be using this plan if I decide on any bag near the end of the year. I think the best part is that I can use this overseas. I still have not decided if I should go to Vegas or Europe in October.
     
  5. Yes, I agree. One should never default on their credit card bills and pay and spend only within their own limits.
     
  6. Seems strange...what company is this?
     
  7. Europe!!!!!
     
  8. :yahoo:
     
  9. It is a local bank in my city. I will post the link up in a while.
     
  10. Don't they usually have these type of promos from credit cards offered by the department stores? I don't know about clothing stores, but Sears and The Bay had these type of purchasing offers for anything over $800 in the past.

    Anyways, make sure to read the fine print.
     
  11. #11 May 28, 2012
    Last edited by a moderator: May 29, 2012
    This is from the website:
    http://www.uobladys.com/sg/money/LuxePay/index.html

    With the UOB Lady's LuxePay, you can convert your shoes and bag purchases worth S$500 or more into a 12-month installment plan, absolutely free!

    With the UOB Lady's LuxePay, you can:

    Avoid the burden of a lump sum repayment
    Convert any shoes and bag purchases in Singapore or overseas into an UOB Lady's LuxePay Plan
    Enjoy the financial flexibility of 0% p.a. 12-month installment plan absolutely free


    Illustration:
    If you bought a new handbag for S$3,600, with UOB Lady's LuxePay, you only need to pay S$300 per month for the next 12 months*.

    One month's Installment Free:
    From now till 31 July 2012, you'll also enjoy one month's installment free when you put at least two separate purchases on the UOB Lady's LuxePay Plan. Conditions apply.

    To apply
    Please complete this online form and we will process the application form within 7 working days.

    Alternatively, simply SMS in <LuxePay> <16 digit UOB Lady's Card number> <Purchase amount> <Merchant name> to 77862

    e.g. LuxePay 5421252101234567 $5000 Chanel
     
  12. I'm not sure about the US stores but we don't have such plans for designer shoes and bags here. Electronics, maybe.
     
  13. Ah, it makes more sense now. Still a bad idea IMO.
     
  14. Sounds like a sg bank promotion.
     
  15. If you know you can handle it financially and won't default on your payments then it's a great idea! Please don't let others try to persuade you otherwise. Finances are very personal and no one should dictate how we spend or what we use to spend - cash, check, debit, or credit, it is YOUR money and only YOU know how much you make and what you can afford to buy.

    I bought a Balenciaga bag on a Neiman Marcus CC in 2008 with a similar promotion. Zero interest for six months on any luxury handbag over $1000. I paid it off before the six month deadline.

    Good news for you to buy a new LV and be able to pay for it interest free! :biggrin: