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daimaru store card 2011/6/27 19:34
could anyone tell me how the Daimaru store card works?
I understand it can be used both as a point card and credit card .. the points are easy but not sure about the credit part...for example
when are payments due after purchasing?
what are spending limits?

by alex (guest)  

... 2011/6/28 17:13
Did you apply for one or are you just considering?

Those department store cobrand credit cards (Daimaru with MasterCard, Visa or JCB, for example) are just like other credit cards - they screen you, and if they find you eligible, approve your application, and probably start you off with credit limit of (if you have regular income) something like 300,000 yen (including the cash advance line as well), to be increased over the years if you pay on time. According to their website, they seem to have a cycle of closing on the 15th, then the payment to be deducted from your registered bank account on the 10th of the next month, if you just pay in one lumpsum. In Japan, credit cards are like "deferred debit" cards in that they deduct the spending from your bank account in lumpsum, UNLESS you specify "revolve the balance," "two installments, "pay during my bonus months" etc.
by AK rate this post as useful

thanks! 2011/6/30 10:46
Thanks AK for your information!
by alex (guest) rate this post as useful

one more thing.. 2011/6/30 17:39
One more question about interest. If I choose to pay in 1 installment, do I need to pay interest? or is interest added for the revolving payments only? does anyone know?

by alex (guest) rate this post as useful

... 2011/6/30 18:10

Do you mean the whole amount in "lumpsum"in the following month? Then, no, no interest applies.
Even if you chose to pay in "2 installments" (to be deducted from your account on the 10th of two consecutive months), or to pay at bonus months, no fee/interest is charged.

If you choose to pay in 3 up to 36 installments, or to revolve, then yes, interest will be charged.
by AK rate this post as useful

I see! 2011/7/1 11:54
many thanks! I cannot read Japanese yet so your information has helped me out a lot!
by alex (guest) rate this post as useful

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