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Why no app?, page-18

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ironwang

765 Posts.

135

01/08/20

23:29

Post #: 46242065
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Originally posted by habcos1: ↑

Ironwang the concept here is to utilise latent unused credit , a lot of folks have heaps of credit and dont use it , or do not wish to bump up their payment for the end of month, SPT spreads the cost of a larger purchase over a longer period, perfect if you have a 20K limit and dont wish to take that hit at end of month just keep the normal 3 to 4k bill. I can now buy the 10K thing and split the payment over say 20 repayments of $500 each and keep my bills manageable. Notice the size of the purchases about $800 each in the report, this is not realy for small purchases imo. Alternatively and more likely if you have a credit limit of $6k or so with a comfortable repayment of $2-3k you have that other $3K up you sleave for something special and split the repayment over a period.
My thought is that this may be the cause of the reuse rate being low in that once you are on a plan it may take a period to pay it off prior to using it again. Just a thought.
Hope this helps.

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This did answer my question, thank you kindly.

It can be beneficial then to consumers as generally it would extend out their interest free periods on their repayments.

communicating that benefit to the consumer isnt a easy task

SPT Price at posting: $1.37 Sentiment: Hold Disclosure: Held
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