Credit Card Thread V7, Everything about the world of plastic
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 Sep 4 2009, 01:25 AM
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#1
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Junior Member
48 posts Joined: Jul 2006  
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Guys,
I have a CIMB CC. I need cash urgently (around RM 1k) and considering of doing Cash Advance. Read from CIMB website and found out that the charge is 5%. The charge is 5% only as long as I pay in full before my statement due date, right? No other hidden charges like Citibank who charges 18% p.a. daily interests? |
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Sep 4 2009, 01:59 AM
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#2
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Junior Member
48 posts Joined: Jul 2006
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QUOTE(WhiteWing @ Sep 4 2009, 01:45 AM) If you do it,got daily interest leh .. I alr kena , lol .. Which bank did you do the cash advance from? Checked CIMB website and they didn't mention about daily interest, only the 5% upfront charge. |
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Sep 4 2009, 02:10 AM
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#3
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Junior Member
48 posts Joined: Jul 2006
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QUOTE(WhiteWing @ Sep 4 2009, 02:07 AM) Are you sure ? I just did a cash withdraw on last 3 weeks and I kena daily interest. 4 days daily interest lo ... Not really sure, that's why I'm asking here.  Seriously, which bank did you do the cash advance from. Maybe different bank charge differently for cash advance?  |
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Sep 4 2009, 02:15 AM
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#4
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Junior Member
48 posts Joined: Jul 2006
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QUOTE(WhiteWing @ Sep 4 2009, 02:14 AM) I did a cash withdraw from CIMB Bank and Hong Leong Bank. So CIMB is charging you too? 18% p.a. daily interest? |
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Sep 4 2009, 05:21 AM
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#5
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Junior Member
48 posts Joined: Jul 2006
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QUOTE(charymsylyn @ Sep 4 2009, 04:37 AM) Cash advances from all credit cards in Malaysia is subject to 18% daily interest starting immediately from the withdrawal date until full settlement, excluding the cash advance fee paid for the facility (the fee is also subject to compound interest). This is not considered a hidden charge, it is nearly always mentioned in the interest information in the brochures and the back of your CC statement. 18% interest daily?  Meaning every day they will add in another 18% to my cash advance total? Or it's 18% per annum (1.5% per month) daily charge? |
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