Case Study 1

Bank Card: EON Bank Berhad
Credit Limit: RM20,000
Total Outstanding: RM12,000
Available Limit: RM8,000
Purpose: Restructure Credit

EPP Amount: RM18,000 (up 90% of Credit Limit)*
EPP Tenure: 5 Years

Restructure Fees: 27% (5.4% p.a for 5 years)

Calculation 1
= RM18,000 x 27% = RM4,860
= RM18,000 – RM4,860 = RM13,140
= RM13,140 – RM12,000 = RM1,140 (extra cash return to cardholder’s)
= RM18,000 / 60months = RM300 (payment to EON Bank’s direct every month)
= At this scenario, no extra cash needed for restructure fees

It's rather the consumers itself to choose whether to use their services or not. They use the loopholes of bank 0% merchant and provide such services to CC users.
I don't think this categorized in scams, as they dont cheat your money, just convert your outstanding to 0% , but in middle they earn some interest which is always lower than bank's interest. I remember many years ago gold and jewelery traders already provide such services.

try study wht is flat rate and effective rate for personal loan. use personal loan to cover credit card loan is a dumb way to do. personal loan effective rate around 21%, which is more than credit card.