Ribo payment - Mitsuisumitomo visa card

[bunga]

Hi, I am thinking about trying this kind of payment but I don't know actually how is the payment calculation, thanks to my poor Japanese ability
Can anyone kindly help ? Thank you in advance.

[Phoenix_stu]

Don't quote me on this however, I beleive the reasoning behind the Rebo payment is...the majority of Japanese workers get a bonus either once or I beleive twice a year.
The Rebo payment is set up to where you purchace the item and you do not have to pay until the bonus season however, it has to be paid in lump sum. I beleive that it is usually around the same time for everone.

[Big Booger]

I always though Ribo　リボ払い meant revolving, as in you buy an item and then you pay incremental payments until the debt is repaid along with a pretty substantial interest payment as well.

There are several schemes involved in the repay. One involves the lowest monthly payments possible until the debt is repaid, thus resulting in shitloads of interest.

Others involve paying a certain amount each month, and increasing that amount over a certain period. Like you start paying 1man a month, and in 3 months it doubles to 2man, and then in 3 more months it doubles to 4man etc...

My own card allows you to make customizable revolving payments, where you pick the amount you want to repay each month until the debt is culled.

But I could be wrong.

[Phoenix_stu]