Yes, if interest charged is based on reducing balance. However, there's another option at lower rate, how about asking for balance transfer with PBB where their rate is only 1.5% and 2.5% upfront for 6 and 12 months plan respectively.

HLB staff do once a while call me or ask me when I call CC CS, they always say HLB offering me Personal Loan at 0.5% interest per month for 6 months which is actually their balance transfer program.

CC "balance transfer plan" for 6 months plan where the money is transferred into your savings or current account. Rate is 0.5% a month and based on daily outstanding balance. Only catch is that one cannot settle in full before the 6 months end or else there'e a penalty; guess if want to pay back loan early got to make sure got enough balance so that minimum payment does not settle the loan in full.

http://www.hlb.com.my/pfs/cc/ccbt.jsp?flag=ccbt

sometime ago, another member at CC Thread V6 said he had outstanding CC balance at HLB, to reduce the interest rate charged by HLB CC, he ask HLB for "balance transfer" into his bank account and then use this said money to pay his outstanding CC balance with HLB.

This post has been edited by Gen-X: Jul 26 2009, 09:53 PM