You can't charge RM6K if your credit limit is only RM5K, unless you request for increase in CL. Say your credit limit is RM5K and you bought an item for RM4K (inmaterial if it is an installment plan or not), your balance credit you have is RM1K and that's the maximum you can charge to your card until you make payment and the amount of payment you make will determine the credit available again for you to utilize.

Read below link for clarification on CL:

http://en.wikipedia.org/wiki/Credit_limit

Here are more overseas transactions, purpose is to determine which card charges lower fees. As you will observe the fees charged for the same card varies and this may be due to the exchange rate.

AMEX Charge Card and CC versus Alliance based on Transaction Date, you will notice that AMEX rate not constant at 2.5%
Transaction Date, Card, USD, RM, RATE, FOREX, Ratio
12 Aug 09, AMEX, 29.58, 105.51, 3.56693712, 3.51186, 1.015683176 = 1.57%
12 Aug 09, AMEX, 49.11, 176.83, 3.600692323, 3.51186, 1.02529495 = 2.53%
12 Aug 09, AMEX Gold CC, 83.19, 298.56, 3.588892896, 3.51186, 1.02193507 = 2.19%
12 Aug 09, Alliance, 144.48, 516.17, 3.572605205, 3.51186, 1.01729716 = 1.17%


UOB Debit Card Cash Withdrawal versus Alliance. UOB exchange rate 1 for 1 BUT they charge RM12 per withdrawal and as such the percentage for the withdrawal fees came out to be 1.7% for USD200 at exchange rate of 3.51. If I were to withdraw more and RM strenghten, then this percentage would drop.

Transaction Date, Card, USD, RM, RATE, FOREX, Ratio
15 Aug 09, UOB Debit, 200, 702.1, 3.5105, 3.52167, 0.996828209 = 0%
16 Aug 09, UOB Debit, 200, 701.9, 3.5095, 3.52078, 0.996796164 = 0%
16 Aug 09, Alliance, 324.93, 1156.21, 3.558335642, 3.52078, 1.010666853 = 1.07%


MBB Petronas Visa Versus Alliance based on Posting Date. MBB fees lower than Alliance.

Posting Date, Card, USD, RM, RATE, FOREX, Ratio
13 Aug 09, MBB Pet, 64.15, 227.66, 3.548869836, 3.53216, 1.00473077 = 0.47%
13 Aug 09, Alliance, 68.03, 242.02, 3.557548141, 3.53216, 1.00718771 = 0.72%
13 Aug 09, Alliance, 208.49, 741.72, 3.557580699, 3.53216, 1.007196927= 0.72%



MBB Petronas Gold Visa Versus Alliance Plat Versus Direct Access Visa Infinite based on Posting Date. MBB fees again lower than Alliance. However MBB reward points only 1X.

DA VI rate is higher than Alliance, however DA VI gives you 1% cash back but no points whereas Alliance gives 2X reward points.

Posting Date, Card, USD, RM, RATE, FOREX, Ratio
20 Aug 09, MBB Pet, 37.84, 135.82, 3.589323467, 3.5491, 1.011333427 = 1.13%
20 Aug 09, Alliance, 183.8, 661.34, 3.598150163, 3.5491, 1.013820451 = 1.38%
20 Aug 09, Alliance, 84.32, 303.39, 3.598078748, 3.5491, 1.013800329 = 1.38%
20 Aug 09, Alliance, 64.13, 230.75, 3.598159988, 3.5491, 1.013823219 = 1.38%
20 Aug 09, DA VI, 40.74, 147.35, 3.616838488, 3.5491, 1.019086103 = 1.91%
20 Aug 09, DA VI, 49.26, 178.13, 3.616118555, 3.5491, 1.018883253 = 1.89%

Here's a comparison between MBB and Alliance where transactions were in Singapore

Posting Date, Card, SG, RM, RATE, FOREX, RATIO
23 Aug 09, MBB Pet, 76.51, 189.76, 2.480198667, 2.47581. 1.001772619 = 0.18%
23 Aug 09 Alliance, 40.00, 99.45, 2.48625, 2.47581, 1.004216802 = 0.42%


Conclusion - MBB Petronas Card Lowest Fees for Overseas Transactions. But Alliance have 2X rewards points and cash back.

What is your purpose of saying above? What has being bumi or non bumi has to to with CC?

As you may be aware, BN ruling is that CC issuers are to give 3 days grace period from due date statement before any fees can be imposed, here is what I noted for payment due dates:

UOB, Alliance, MBB still same as previous.

HLB and DA have added 3 days for Payment Due Date from previous date, i.e. previously due date on 30th of every month but this month statement 3 Oct.

Just to add, someone mentioned UOB have been bring forward his statement date, well I checked mine and it is still the same for the past 1 year.

Anyway I want to comment on DA/CIMB stupid payment system. I have both MCW and VI and supp to my wife. Therefore got 4 different statements for each card. When I go make payment I have to key in each card statement at the cheque deposit machine and this also often the amount is not credited into my supp card (i.e. payment to my account only). Last month CIMB stupid machine cannot make payment for VI. So had to make payment to MC account and then call CS to transfer. DA sure wasting my time and money for phone calls. If not for the 5% rebate at TESCO and Petrol on 1st of every month I would have just put the card into the drawer.

UOB the best, key in my UOB Visa account and cheque amount and it will auto payment to my supp and MC accounts. Same goes for AMEX Gold CC where I do not need to key in my supp account.

This post has been edited by Gen-X: Sep 20 2009, 06:46 PM

PBB offer of 10% rebate payout is capped at RM200,000 a month. Therefore is it not guaranteed you will get the rebate is you spend RM500 on petrol.

Moreover, I hate promotions where one needs to register via sms.

PM said 11miliion cards in circulation and 250K charged card, budget really innovative on ways to get more income for government.

Looks like I have to start cancelling my CC

I don't think it is wise to hope that the bank will absorb the service tax. Comes 1st January 2010, all principal CC and charged card will be taxed RM50 and you won't get even a single sen refund if you cancel the card on or after 1st January 2010. So if you do not need the card go cancel it in December 2009 and pay up all outstanding balances including installements.

I myself will be cancelling 7 CC where I hardly use

DA MC Plat since I have WMC and VI from them
Maybank Petronas Gold and Petronas Plat (yah I have 2 active MBB petronas CC). Not too bad if DA still give 2% at Petronas.
UOB MC Plat - got the card as few years back had to charge 6 times to both MC and Visa to get annual fee waiver but this policy no more.
Citibank Clearcard - no more discount at coffebean or dome for years now so don't need the card
PBB Visa Plat never used it as not many discount.
HSBC Visa Plat

Keeping 7 Cards that would cost me RM450 incl 4 supp cards

AMEX Charged Card as I get 3X Turbo Points for any transactions
AMEX Gold CC for 5X reward -I can see my points accumulate damn fast with this card as I burn a lot of fuel
Alliance Visa Plat since get cash back up to RM68 per month
UOB Visa - my first local issued CC back in 1991 and got too many auto debit with them so lazy to cancel
HLB MC Plat - I like their service, and long ago there was a fraud involving my card and had no problems with HLB and did not even had to pay a single sen.
DA WMC and VI for their discount and rebates. However if after January 2010 they cancel the 2%-5% rebate then too bad for me. But one thing for sure is CIMB/DA gift are guaranteed if spend a certain amount unlike others where gifts are limited.

Thunder Match outlet (ACER CENTER) at Midvalley don't charge surchage for CC because ACER absord this cost. SO go there and shop


As for Harvey Norman, what do you mean that their price already include the charge? For Notebooks, I know Harvey Norman prices are RRP or SRP. For example, when I was gettng my son a HP TX2, LYP shops selling it at RRP/SRP and won't give me discount, so I called Harvey Norman IKANO outlet and they agreed to sell me RM100 off from RRP/SRP and no surchage for me using AMEX. So it actual fact, I got the TX2 cheaper at Harvey Norman and got reward points also.

Harvey Norman usually can give discount if you do single swipe, you just have to talk to the supervisor of the department (call them up first instead of wasting time going there). Went I bought a washing machine and dryer at Harvey Norman, they also gave me discount. Even if you do installement plans, there is no surchage at Harvey Norman for using AMEX or CC.

However my daughter's wanted the pink BenQ netbook few months back and had no choice but to get it at LYP as Harvey Norman don't carry it and had to pay surcharge for using CC

So, in conclusion, we consumer have a choice as to where we want to shop. As for the IT merchants that charges 2-3% for CC, well if they want our business then they have to absord the cost or else in the long run they be out of business where the big boys (Courts also now concentrating on IT ) will eventually take away their business (hypermarkets vs kedai runcit).

I think installement plans one can use CC but not sure for AMEX. They accept AMEX. I did not go for installement plan as then I won't get discount.

Why don't you just call them and find out and let us know

Latest Promo Direct Access 0% BT for 6 months for EXISTING and new cardmembers.

http://www.directaccess.com.my/index.php?c...085&tpt=cimb_da

Terms and condition:

No interest will be chargeable on the Approved Balance or such outstanding thereof until
the first day of the seventh month from the date of the Approved Balance transaction
is posted to cardmember’s Direct Access credit card account;

The cardmember will have to make a monthly minimum payment of 5% of the Approved
Balance

There is no mention of surcharge or handling fees, this is truly "FREE" credit. This is good.

As I did mentioned in another threat, with the reintroduction of RM50 tax for CC, banks will offer more benefits to card members to ensure they keep the cards.

Firstly, you should call the customer service to confirm if you can or cannot settle the balance amount and what are the conditions if any.

Secondly, since you have cash on hand and if you are not allowed to settle the outstanding balance in full now for amount yet to be billed, put the money in the bank (e.g. FD) and get interest lah or invest it.

I also pump at Esso and uses Smiles Points. It is beneficial for you to get a CC and charge you petrol to the card as you will get additional rewards points where you can get up to 3.5%-4% rebate. Here are two examples:

A) Smile Points rebate.

Pump RM1000 a month at Esso and you can redeem RM15 petrol = 1.5%

B) CC reward points or cash back.

Direct Access - you will get 2% cash rebate at ALL petrol stations. Therefore the total rebate for RM1000 spend for fuel at Esso will get you 3.5% rebate. Please note that CIMB/DA offer of 2% cash rebate ends on 31 Dec 2009 unless it is extended

American Express Gold Credit Card - you get 5X reward points. For the same amount of RM1000 you charge to AMEX Gold CC, you will get 5000 points which you can redeem for cash back at the rate of 200 points = RM1. Therefore 5000 points will give you RM25 or 2.5% cash rebate at ALL petrol stations (except Petronas as most outlets don't accept AMEX). Total rebate will come out to be 4%


DO NOTE: most credit cards (Visa and MC) do not give rewards points for pumping fuel at petrol stations.

Both American Express and Direct Access cards are free for life without conditions. However if you only want to have 1 card, then better get a Mastercard or Visa since it is more widely accepted. Since you travel a lot, my recommendation is to get both Mastercard and Visa from different banks where one card shall act as backup in case the main card cannot be used for whatever reason.

As for paying for CC bill, you have option to bank in directly by cheque on pay online. What bank does your pay go into, why not get that bank CC?

As for alliance bank - Click here to view cash rebate tier scheme for Alliance CC. younique should be similar. Petrol transactions is entitled for the cash rebate scheme. I have to warn you, Alliance have the worst customer service IMHO.


HSBC do have a cash rebate program at Caltex but it is subjected to max payout of RM200,000. So forget about it.Click here for HSBC cash rebate at Caltex.

My suggestion:

You mentioned you spend a lot, well if you spend about RM5K a month then get Alliance CC where you can get up to RM68+ cash rebate monthly for Platinum CC. Do check with Alliance on younique cash tier scheme.

If you spend about RM1K for petrol, and not much on other things, get DA or Amex Gold CC as Alliance rebate is less than 1% if your total combined transactions are less than RM2K (for Plat CC).

Do look into Direct Access as it has many rebate offers e.g. KFC, Guardian, MPH plus petrol rebate of 2% (for now).

If you really really spend a lot i.e. more than RM20,000 a year on non-petrol and non-groceries related transactions, then get AMEX Charged Card and enroll into Turbo points where you get 3X rewards points and considering Amex cash redeemption scheme, the cash back is equivalent to 1.5% without any conditions.

most credit card do have maximum cash back per month or limited time offer (confirm this before you apply for card) or some conditions like max payout or worst still Public Bank's where cash back is tied to other purchases except for CIMB/DA's Visa Infinite where you get 0.5% (1% overseas) and maybe 1 or 2 more cards.

Even debit cards offer cash back like Public Bank's Day to Day Visa. So better than cash

As for the HSBC max payout of RM200,000 for petrol, it means that HSBC will only pay out up to a total of RM200,000 and not you got to spend RM200,000 lah. Moreover, HSBC offer of RM5 cash back is subjected that you spend RM200 on petrol. So to me HSBC offer is not "pure" cash back and not guaranteed.

As for paying using cheque, yes there is a "fee" for each cheque but is it much cheaper than transferring funds online where there is a charge of RM2 if not mistaken.

Based on your spending above, yah HSBC not that attractive. Anyway do check out HSBC website on discount for dinning and shopping up north.

One last note, maybe you should consider a card where the bank have a branch near your office or home for easy payment using cheque and always pay your balance due before the due date and never never withdraw cash with a CC.

I guess 1 of the 2 cards is Citi Well if you read the earlier posts here you will note that Citi not very accomodating when involving fraud cases, so yah better to reduce your Citi CL to RM8K if that is what you need only.

I guess most Citi holders getting increase in CL including myself. Have not been using my Citi Clear Card for the last month and will be cancelling it after I redeem the balance reward points at Coffee Bean.

for HSBC and Citi you may cancel the card over the phone but not CIMB, MBB, HLB, UOB and PBB. Not sure of others


If your above theory is true good for us loh but I doubt banks are going to absorb the RM50 tax. Assuming 10% of population have CC, that's equivalent to RM50 x 2.8million people = RM140,000,000.00. And if each of these people have to 2 cards, that's RM280,000,000.00 and within 4 years time the banks would have to absorb more than RM1Billion.

The point is RM50 is taxed by the government and is mandatory and if banks were to absord this cost, their profits are going to be affected. Most probably all the bankers are now discussing among themselves that none of them will absorb the tax, just like what they did last month where they agree to "increase" the interest rate for property loans this month as they are losing money competing among themselves.

What I foresee is that banks will offer more benefits to retain and attract new customers e.g. CIMB 0% BT, HLB Essential 1% unlimited cash back, etc. The only time I think banks will absorb the RM50 tax is for those with Premier/Premium Accounts where their customer have deposits which is more than satisfactory to the bank.

So do you need the SCB credit card and are the benefits better than CIMB and or HSBC? Basically you got to determine which card will be beneficial to you in terms of discounts at places you do spend your money, cash rebates, reward points and redemption, convenience and customer service.

Good for you. I just called UOB and they not offering me RM50 waiver but instead offer me RM50 smart$ points to redeem at participating outlets. Guess better than nothing but with stupid condition I got to swipe 3 times within 14 days. Yet to accept this offer, wait and see.

Guess I am not a valued customer like yourself

you can go to any CIMB branch and fill in a form there. No need to write any letter. Also ask the person to make a copy of the form for you after you signed it for your records. Same for RHB, MBB, PBB and UOB where you can fill in form to cancel thier CC at their branch and no need any letter from you.

Mind sharing your CL for the other UOB CC

Actually I already cancelled my UOB MC Plat 3 weeks ago and did not get any calls from UOB Keeping my UOB Visa Plat because got many auto debit with it since it was my first local issued CC.

tgeoklin , can you please PM me the name and contact of the person that called you and I try my luck with him. Worst case, I will just accept UOB offer to swipe 3 times (each above RM100) and get the Smart$ points and redeem petrol at BHP.

It is actually very good news from tgeoklin being the 1st person I know that bank willing to absorb the tax. This is a good start, I guess the rest of the other banks will have some kind of offer sooner or later. Having said this, UOB Plat Card actually don't have much benefits such as cash rebate for all transactions nor 2X reward points nor discounts at chain outlets so I guess UOB management made a decision promptly by offering incentive early to retain their customers.

It would be a joke if MBB willing to absorb the RM50 tax because MBB is controlled by the government. What is the point of the government imposing the RM50 and then absorbing it?

For those of you wanting to cancel any of your cards, do it immediately so that all our collective actions will pressure the management of banks to make a decision quickly and offer some kind of incentive for the cards we are going to retain.


In your email to them complain that the CSO was rude and chatting with her collegues.

The thing with HLB is that it is better you call them during office hours, same goes to Alliance. After 9pm and on Sundays, HLB Platinum line and Alliance CSO are not so informative nor up to satisfaction. However sometimes you do get one or two seniors who are assigned to work the night/weekends shift and these people are very helpful and friendly. If you not happy with the CSO, hang up and call again and speak to another person.

tgeoklin: thanks for the reply

MBF put up a full page ad in The Star today stating RM50 tax Subsidised and 0% for 12 months up to RM7500 outstanding balance per month i.e. outstanding balance below RM7,500 won't be charged any interest.

Also in The Star PBB mentioned get RM30 for appyling their card.

Hi to you too, it is not like we don't want to give suggestions but your post gives very little info. Anyway there are a few threads on BT and debt where you can refer to.

In general, you are on the right track planning to do balance transfer where the interest charges are lower. So why have you not applied for another card and do BT earlier? CIMB now offering 0% for 6 months BT. However it will take approximately10-14 days to get your application approved, so if you want to cancel your card by year end you got to take action now.

You also have option to transfer your Citi balance to MBB BT (assuming you still have credit available in MBB). MBB do have 12-24 months BT Plan. IF you have a lot of outstanding balance in MBB, better you go get another card for BT.

Also why want keep 2 MBB cards? Cancel 2 of the 3 cards and keep only 1 MBB card since the CL is the same.

1) The question you need to ask yourself is do you have the means to pay the BT? No point doing BT and you can't pay it as you will be imposed the same high interest charges.

2) Second question, how long you think it will take you to pay off the BT? Example if you think you need 1-2 years to pay of the BT, then go for Public Bank or MBB plan. If you can pay off in 6 months, then go for CIMB 0%. However do note that for PBB card you need to swipe few times a year to get free annual fee waiver whereas you should not be swiping at all until your debts are cleared.

My suggestion, once you do BT, cancel the other bank credit cards, keep the BT's Bank CC in the drawer. Actually you should stop using your current CC immediately and use a Debit Card or cash for your expenses.

tgeoklin: I did finally got a called from UOB today regarding my cancellation of MC which I returned to the bank 3 weeks ago. She offered to "waive" the RM50 tax on condition I sign up for 2 auto-debit Said no thanks. Asked her to waive my Visa Plat and she said she can't as she's in marketing and targetting customers that have cancelled their UOB cards. She asked me to call 121 for my Visa Plat. She then wanted to ask some personal questions for verification and I said no way I am giving any of my personal details over the phone since I had already signed a form at UOB branch for my MC cancellation.

Look like I have to accept the Smart$ points offer.

odieseven, you can afford RM500 a month to pay back which is good. First thing, you got savings? If yes consider using part of it to pay the MBB balance and then do BT from Citi to MBB. Problem solved no need any new card.

you earlier mentioned you want cancel 1 of MBB card, well I guess its the Visa and just go cancel it immediately. As for AMEX, if you pump at Petronas then not very useful might as well cancel it too. I am sure you have Petronas MESRA card. I keep telling everyone to get Esso-Mobil Smiles Card, you get RM15 for every RM1K petrol which works out to be 1.5% and together with AMEX Gold CC you will get 4% in total. FYI, PBB Day2Day Debit card gives 1% rebate for petrol and groceries.

Anyway, click on my signature below on BT where you can get some comparison on BT rates (outdated a bit since was months since I wrote it). Gor 18-24 months you have option of Alliance and AMBank besides MBB and PBB.

And finally, is your travelling due to work? IF no better change your lifestyle.