Thanks guys for the wishes of good luck, I would need a lot of that. Haha. I mean when negotiating out a solution tomorrow. I will go and see the officer who is in charge of my case tomorrow and hopefully, she will give me a better solution, also, selling my car is my last resort and hopefully my business will be better in this coming Hari Raya.

I would go to AKPK as the last resort too since I don't want my credit to be bad until all the bank blacklists me. I'm going to try to work in other areas to clear off my debts such as reduce entertainment fees e.g clubbing, having expensive foods & etc.

Besides going for debt consolidation loan, selling my personal assets, any suggestions? I've read from the net that the bank might consider reducing my debt to like 70%-80% of the original debt, but I think I'm not good in negotiating. But I hope the officer would be kind enough to listen to my difficulties.

It's true that people shouldn't use so much of advance money such as credit card. We only want to enjoy the things we want without considering the consequences first, but in the end, we all will have to work for banks. Lolz.

Well ... you got to remember that the officer is at the end of the day earns salary from the bank. Probably there's a certain range of decision this person can make but what another member has said ... bank are not charities. They are there to make money, period.

Likely you can get a good offer if you are willing to pay a lot on a monthly basis. If I were you, just bite the bullet for a few months and come out stronger later. It wouldn't help if you do not want to sacrifice your lifestyle now for a better credit standing in the future. The banks won't be impressed and I don't think you are being fair to yourself either. Consider to sell away some of your assets or even your car to have additional liquidity to your finances.

Debt & loans are all liabilities and you need to make all effort to reduce that. Like what you mentioned earlier, the cc debt level now is attracting about RM200 bucks per month in interest and you are paying only RM500. Look carefully as about half goes to the principle - not a good ratio my friend.

OK ... I leave to you to think about it.
Hope you'll drop in sometimes and give some advises to forummers who potentially will make the same mistake but in the state of denial and thinks cc debts are always manageble.

This post has been edited by hye: Sep 9 2009, 08:02 PM

I doubt if there is any people here having this cc. It would be better for you to call Ambank CS for clarification.

@viqq

have you try to borrow money from ur relatives?

relative's loan is interest free, no charge, no installment and only pay when you have money.

@vin_ann
You have very kind relatives

@ syd G

just giving best solution. i learned this from my tax lecturer. hehe

beside relatives, others like parent, brother, sister, friends etc etc... also falling the same category.

hehe

Hi guys need some advice here.. actually i want to apply for a CC but i don't know which bank that is suitable for me.. firstly the bank that i interested that is Maybank , AmBank , HSBC , CIMB & Citibank

actually.. what i do apply card is must have
1) 0% installment plan no interest at all
2) free for life.. other then that can have or not

i checked long time ago but still not sure which bank card that is suitable for me.. my income annual is just 20,000 so alot of card that i apply i worry can't get it.. any advice bank that i should look for..

sorry if i asked wrong place..

My mom actually have this card but she never used it. When she tried to cancel the card about a month ago someone from AmBank called her and ask her not to cancel it since it is free for life. No minimum swipe required.


The problem is that it will be hard to get the money back. My best friend promised he will return all the money he borrowed but i never got a cent back and his name is in my NPL book Total loss > RM1050. And no, it is a 100% interest free loan.


You should try with Maybank and CIMB Bank.


This post has been edited by MilesAndMore: Sep 9 2009, 10:20 PM

but maybank annual income is needed 30,000 can i go try to apply? cimb is quiet ok de.. how is about other bank.. thx for ur reply

No bank can give you a free lunch. There will be upfront interest or handling fee for the so called 0% installment plan.

It seems your mum is a fanatic cc collector ya…just kidding.

Anyway, there are not many people interested in this cc as the benefit provided is not great.

You can try to apply if you are maybank card holder, last time when my salary is about RM 1400 (lower than the requirement for classic card), Maybank send me a letter ask me to take the letter to their branch to claim the credit card.
Or you can try to apply to those banks you interested at the same time, the agent are willingly to help you as apply more bank the commission will be more.

---

Added on September 10, 2009, 9:22 am@Micheal_G

For the RHB credit card, You can choose to active and then cancel if you feel that the privilege of the card is not good, or not to activate and watch the situation first.

For the Ambank Real reward, i think it should be Free for life, depends on which information you get are the most updated, the annual fee normally is charged for their customer service provided to you. But nowadays it is easy to get your annual fee waived, when you see there is an annual fee on your bill, just call them and ask for annual fee waiver.

The benefit of the Real Reward card is let the customer earn Real Reward point when buying, you can link this card with your Real Reward card to get extra points.

This post has been edited by aeronlim: Sep 10 2009, 09:22 AM

huh?? no one actually holding ambank realrewards card??? =.="

Michael, i've this card. it's free for life. don't worry.

Product is not a popular card that's why.
May I suggest something ... if you don't like the card then just cancel it. These days cc agents are all out to make sure they meet their targets so they will sell aggresively and not bother about whether the consumer need the card or not. Some unscrupluous ones will "apply" additional cards for you. This can happen from any banks and my personal experience is that an International bank agent did this to me. Note that some banks outsource their card marketing thus these agents are even more pressured to sell their cards to you or they don't their dough at the end of the month.

Please do not condone this ... if you receive a card that you never apply then just cancel the card. Same goes if you don't like the card and the priviledges not meeting your expectations then just cancel it.

Cancel after 3 months if not that the cc agents will fail their target as well. They are trying to make a living after all.

Good that you think of others. Imagine if we are in their shoes.......

So hold on to your card and cancel a few months later. After all, it makes no difference to us but it matters to other.

Monthly Income RM 3200 Just Reach 21 Years Old Yesterday
Any Card Can I Apply ?

No lah. A recently graduated salesman went to her office and kept asking my mom to sign up for 4 different credit cards from him. One each from Public Bank, Alliance Bank, AmBank and Hong Leong Bank. The Hong Leong bank credit card really gives us a big headache. My mom got soft and applied all cards from him


Is that gross fixed income ? If so yes. There are many cards you are eligible for. Try CIMB Bank, tons of discounts and it is 100% free for life

This post has been edited by MilesAndMore: Sep 10 2009, 04:05 PM

Is Gross Fixed Income ,If + Fixed Allowed It Shall be RM3600
Basic :RM 3200
Allowed : Rm 400

u r doing great for a 21 yrs old
u can get the cimb/DA gold cards, MBB AMEX Gold CC, MBB Sony Visa (if u like sony)

do read the posts above or search this thread, u shud be able to find the cc suitable for your needs