tag:blogger.com,1999:blog-2818480333870774602.post7771763412126100451..comments2024-03-08T16:27:40.311+08:00Comments on Portfolio Diversification: Paying advance bills with Manhattan card (Revised)Mike Dirnthttp://www.blogger.com/profile/04811948691612939470noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-2818480333870774602.post-20066477156738053572008-09-28T00:58:00.000+08:002008-09-28T00:58:00.000+08:00GIRO deduction will not take placeIf u are on GIRO...GIRO deduction will not take place<BR/>If u are on GIRO, u made advance payment 5-6 day before the GIRO deduction. <BR/><BR/>however if you made payment 2-3 day before, GIRO deduction might take place. TAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-33281791879350614792008-09-27T10:42:00.000+08:002008-09-27T10:42:00.000+08:00if you have a giro, usually the BO will request a ...if you have a giro, usually the BO will request a payment few days before due date of your bill. so if you make advance payment before that cutoff date, the BO will not request duplicate payment. this is what i understand.<BR/><BR/>maybe you can check with BO to confirmMike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-71709282336609982772008-09-26T14:04:00.000+08:002008-09-26T14:04:00.000+08:00what happen if u do advance payment for bills that...what happen if u do advance payment for bills that u have giro arrangements?<BR/>they will still deduct from ur bank during next bill payment, or deduct from the leftover cash from ur advance payment?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-67275611831269904342008-09-25T22:18:00.000+08:002008-09-25T22:18:00.000+08:00I have many frds/colleague who ask me which bank o...I have many frds/colleague who ask me which bank offer the best FD rate. <BR/><BR/>I always tell them that if they have 3k to spare, why not spend in advance using manhattan card. Even if it takes 1 year to utilise the 3k, it makes sense as it will earn u 5% (more than 5% as u get your $150 by the end of following qtr)<BR/><BR/>for FD, u are locked up and the return is 1-2% only.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-72562389290084853332008-09-25T11:04:00.000+08:002008-09-25T11:04:00.000+08:00currently im charging all my bills including ezlin...currently im charging all my bills including ezlink to UOB one. so reaching $300 a month is about there.<BR/><BR/>i will consider the advance payment with manhattan when i have my own house.Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-30192663230989304862008-09-25T10:23:00.000+08:002008-09-25T10:23:00.000+08:00uob one card isn't suitable for normal retail spen...uob one card isn't suitable for normal retail spending. it requires $300/$800 spent every month for 3 months in order to get $30/$80.<BR/>since bills are already taken care of by manhattan, it's not guaranteed that u can hit that amt every month.<BR/><BR/>ya, i have read about the xtrasaver. but i have also read about D-pay. D-day is coming.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-5681977883300433982008-09-24T21:42:00.000+08:002008-09-24T21:42:00.000+08:00for normal retail spending, the next best card is ...for normal retail spending, the next best card is UOB one card. effectively rebate is at 3.33% then followed by Xtrasaver at 2%.<BR/><BR/>i like to use my Xtrasaver because i earn big rebates from them :P if you have been following my blog, you will know. try read more on my credit card sectionMike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-73089363093202298842008-09-24T14:58:00.000+08:002008-09-24T14:58:00.000+08:00i see...the website mislead me. I tot is based on ...i see...<BR/>the website mislead me. I tot is based on per quarter.<BR/>seems like this card isn't good for those normal spending on clothes and such.<BR/>it should only be used for advance bill payment and big ticket spending on plasma tv and such.<BR/><BR/>then in that case, for those normal retail spending, xtraSaver card should be used right?<BR/>but assuming u maintain $7k in that acc, u Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-34971684318975071292008-09-24T08:46:00.000+08:002008-09-24T08:46:00.000+08:00FYI,i have calculated based on $250 monthly bill o...FYI,<BR/><BR/>i have calculated based on $250 monthly bill or annually bill of $3000.<BR/><BR/>if you make advance bill payment of $3000, your remaining money = $151.35<BR/>if you pay monthly of $250 with credit card like UOB one card at 3.33% rebates, your remaining money = $108.66 (assuming $3000 is kept in the bank at the beginning of the year)Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-46980404720597923922008-09-24T01:12:00.000+08:002008-09-24T01:12:00.000+08:00zong,you confused me intially. :Pyour combination ...zong,<BR/><BR/>you confused me intially. :P<BR/><BR/>your combination does not work because you need to spend 3k in a month not in a quarter.<BR/><BR/>anyway i have revised the whole article. this time it should be clearer. you may want to read from the beginning.<BR/><BR/>it seems if you have a monthly bill of at least $600, its good to pay using Manhattan. i did not try to calculate for smallerMike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-42454167548772672572008-09-23T23:51:00.000+08:002008-09-23T23:51:00.000+08:00actually quite curious how u all manage to strike ...actually quite curious how u all manage to strike up such a huge monthly bill.<BR/>my household of 4 only have $100-150 in hp, telephone and broadband bill.<BR/>sp $100+. (OT abit. saw u all saying that D-Day is coming. shit... i just cancelled my giro. need to do giro again:( )<BR/><BR/>come to think about it, how does stand chart earn from manhattan card? <BR/>i tot credit card merchant Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-81054759984300138012008-09-23T11:16:00.000+08:002008-09-23T11:16:00.000+08:00interesting combinations zong,01 Jan $600 (Just in...interesting combinations zong,<BR/><BR/>01 Jan $600 (Just in time payment)<BR/>01 Feb $600 (Just in time payment)<BR/>01 Mar $600 (Just in time payment)<BR/>31 Mar $1800 (Advance payment)<BR/>01 Jul $600 (Just in time payment)<BR/>01 Aug $600 (Just in time payment)<BR/>01 Sept $600 (Just in time payment)<BR/>31 Sept $1800 (Advance payment)<BR/><BR/>now i know what you meant. i didnt see the datesMike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-28912267632728310862008-09-23T11:03:00.000+08:002008-09-23T11:03:00.000+08:00zong,the option D1 is just using Manhattan card on...zong,<BR/><BR/>the option D1 is just using Manhattan card only. for a better management, you need to use a combination of manhattan and other cards. i did say this on the 3rd post of these comments<BR/><BR/>i think we get the idea now. no matter whatever your bill amount, you can optimise your rebates if you time your and manage your advance payment. i did say this on the 3rd post of these Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-88354379110946431622008-09-23T10:45:00.000+08:002008-09-23T10:45:00.000+08:00hi,u shouldn't just to pay only $3k per quarter. m...hi,<BR/>u shouldn't just to pay only $3k per quarter. manhattan is capped at $300 cash rebate per quarter, which means that u should only spend up to $6000 per quarter.<BR/>using my proposed schedule, u only need to pay $3600 for 1st and 3rd quarter, resulting in $7200 total for bills paid.<BR/>The modified one still doesn't make sense. If the annual bill is only $7200, which should u pay $8700?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-47283253159359182302008-09-23T01:13:00.000+08:002008-09-23T01:13:00.000+08:00my brain has started to think. i think my conclusi...my brain has started to think. i think my conclusion is skewed.<BR/><BR/>on a 2nd thought, i realise as long as your annual bill is > $3k, you should use combinations of Manhattan and other cards to maximise rebates.<BR/><BR/>for example, if annual bill = $3k then do a one time advance payment of $3k by Manhattan. the rebates is definitely more than the interests earned by money put in banks/Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-54721332320502043312008-09-23T00:29:00.000+08:002008-09-23T00:29:00.000+08:00hi Zong,thanks for bringing up. i have overlooked ...hi Zong,<BR/><BR/>thanks for bringing up. i have overlooked on the option D1.<BR/><BR/>1) the corrected schedule should be the following:<BR/>Modified for 3 quarter payments only <BR/>Total Bills paid for the year = $8,700<BR/>Remaining money at end of year with interests = $3,461.65<BR/><BR/>it still lose out to the option D2<BR/><BR/>2) as to your other schedule of payment, can you explain Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-40675982891794112672008-09-22T23:23:00.000+08:002008-09-22T23:23:00.000+08:00hi,the Scenario D doesn't make sense.The annual bi...hi,<BR/>the Scenario D doesn't make sense.<BR/>The annual bill is only $7200. <BR/>3 quarters of $3000 will be sufficient. there is no need for a 4th quarter payment.<BR/><BR/>anyway, there should be a better payment schedule. <BR/>consider the following:<BR/>01 Jan $600 (Just in time payment)<BR/>01 Feb $600 (Just in time payment)<BR/>01 Mar $600 (Just in time payment)<BR/>31 Mar $1800 (Advance Anonymousnoreply@blogger.com