How I got a 40-inch LED TV for only P1,000 a month from Abenson

Posted on December 19th, 2011. Written by Rico.

Last Saturday, more than one person scratched their head as my fiance and I skipped through the mall like schoolchildren. We had just found a Samsung UA40D5003 40-inch full HD LED TV retailing for ₱37,900—but available through a payment plan that would only cost us ₱1,053 a month over the next three years.

How? We were actually checking out the BPI Installment Madness at Glorietta 4′s Activity Center. The event is meant to reward BPI credit card holders, by offering appliances and gadgets available through 18-month 0% installment plans (instead of the usual 12). However HSBC—with the help of Abenson—has a bigger reward for its customers.

Ultimate 0% 36 Months installment plan

Turns HSBC credit card holders can avail of zero-percent 0% 36-month installment plans when buying anything from the local retail chain. The only requirements:

1. Resulting monthly installment should be no lower than ₱600.
2. Available credit on your card to cover the entire cost of what you’re buying (like any other installment plan).
3. Purchase must be made on or before December 31, 2011.

We discovered the promo only when asking Abenson salesmen at Glorietta what was the longest payment period available for the TV we were looking at—even though all the details are available on Abenson’s website. And for some reason we had to walk all the way to Abenson’s second-floor store in Glorietta 5 (around 200 meters or so) to process the purchase.

Now of course before you get excited, keep in mind that this Abenson-HSBC promo locks you into payments for three years. The Ultimate 0% 36 months is not something I’d recommend for those with poor financial discipline.

That Samsung also isn’t the newest unit in the manufacturer’s line-up. However, I doubt we will replace our new purchase within three years (the 40-incher comes with a two-year parts and service warranty). I can also treat my TV like an oversized computer monitor—connecting it to my desktop PC through one of the TV’s two HDMI ports—and get even more functionality than Samsung’s latest Smart TV line.

Update: Another caveat. Mike “Broseph” Villar reminded me that the same TV was available for only ₱32,000 (₱5,700 less!) at Automatic Center, a competing appliance retailer. So it’s really a question of whether you’re willing to pay now and save money in the long run, or pay a low installment fee per month but spend more on the same gadget! At least you have until December 31 to decide, and it goes without saying you should really explore all your options before committing to anything.

In any case, this is why I never used that credit card you sent me, BPI. At least you’re more judicious than HSBC when it comes to raising credit limits.