Seems like you not fully understand the credit card terms and conditions that you put your signature on it.
When you read your credit card terms and conditions (can refer to item 10 here), finance charges are charged to RM2000 (not the outstanding balance of RM13) from posting date to your partial payment date when you not fully settled by next due date.

Estimation: RM2000 x 1.25% x 27/30 = RM22.5



Just learn something new today, interest free period only good IF make full payment

This post has been edited by roy918: Feb 19 2010, 06:18 PM

If you foresee don't have enough money to settle in full, then pay the amount you able to re-pay as early as possible after you use it (there is no interest free period for the transaction anymore).

From my understanding, interest will be charged on RM4999 for 3 days (assuming posting date also on 5th March and partial payment of RM4999 made on 7th March). The remaining RM1 will incur 1 full month interest.

Service tax is charged immediately after new card got issued, so you still have to pay for it no matter you use/activate/cancel it or not.
Nothing to do with "they dare to charge service tax" or not.

Please file a complain to Citibank and BNM, don't let this happen again and again. Banks SHOULDN'T do business in this way.
Imagine they get you RM1,000,000 loan (or may be another credit card) without your knowledge?

This post has been edited by roy918: Feb 23 2010, 11:08 PM

Yes, you pay no interest for 1st 6 months but you will need to pay more interest if you can't settle the amount transfer to PBB within 6 months.
Say you paying minimum repayment for your MBB credit card and entitled to 13.5% interest rate. But once you sign up new PBB credit card, the interest rate is 17.5%.

Example: transfer outstanding 6k from MBB to PBB (5% minimum payment of outstanding)

MBB=13.5%
START O/S INT O/S+INT PAYMENT FINAL O/S
6000.00 67.50 6067.50 303.38 5764.13
5764.13 64.85 5828.97 291.45 5537.52
5537.52 62.30 5599.82 279.99 5319.83
5319.83 59.85 5379.68 268.98 5110.69
5110.69 57.50 5168.19 258.41 4909.78
4909.78 55.24 4965.01 248.25 4716.76
4716.76 53.06 4769.83 238.49 4531.34
4531.34 50.98 4582.31 229.12 4353.20
4353.20 48.97 4402.17 220.11 4182.06
4182.06 47.05 4229.11 211.46 4017.66
4017.66 45.20 4062.85 203.14 3859.71
3859.71 43.42 3903.13 195.16 3707.98
3707.98 41.71 3749.69 187.48 3562.21

Total payment=RM3135.41, Oustanding=RM3562.21


PBB=0% for 6 months, 17.5% for next 4 months, 16% for next 2 months
START O/S INT O/S+INT PAYMENT FINAL O/S

6000.00 0.00 6000.00 50.00 5950.00 (payment = 5% of RM1k)
5950.00 13.85 5963.85 98.19 5865.66 (payment = 5% of (RM1k + (RM950 from previous installment + RM13.85 interest)))
5865.66 27.21 5892.87 144.64 5748.23
5748.23 40.08 5788.30 189.42 5598.89
5598.89 52.48 5651.37 232.57 5418.80
5418.80 64.44 5483.24 274.16 5209.08
5209.08 75.97 5285.05 264.25 5020.80
5020.80 73.22 5094.02 254.70 4839.32
4839.32 70.57 4909.89 245.49 4664.39
4664.39 68.02 4732.42 236.62 4495.80
4495.80 65.56 4561.36 228.07 4333.29
4333.29 57.78 4391.07 219.55 4171.51
4171.51 55.62 4227.13 211.36 4015.78


Total Payment=RM2649.02, Outstanding=RM4015.78


You will find you are paying more when you do balance transfer and just paying for minimum prepayment.
But it does help you to save a lot interest if you can settle all amount transferred within 6 months.

This post has been edited by roy918: Mar 30 2010, 11:06 AM

If you have any doubt on the product, you can either call their CS or check the T&C attached with the promotion.
Check it yourself here


Cash transaction not applicable

Varying monthly EPF contribution may not be a good sign.
If the allowance is not fixed, they can interpret that you might not getting any allowance in following months.
Thus, you may not meeting the minimum salary requirement.
Wish you good luck

Ask back to yourself, will you lend money to a person that you knew he/she might not repay?
I doubt there is any bank willing to risk their money even though the return is high.

This post has been edited by roy918: Apr 7 2010, 06:29 PM

50% of your RM3k credit limit.

Your question has been answered in last few pages. If you were to console yourself by comparing 4.5% to 18%, then you will be paying the price.
There is no other way to help you if you can't help yourself. Ever wondering why some people has no problem owning more than 4 credit cards but you did?

Interest charged at FLAT RATE.

Did they offer such a good rate?
Can only find 12months for 2% here

But u still need to pay for monthly installment?
You wouldn't have earn full 2.75% for 1 year FD by doing that.

You are lucky in this case.
You cannot simply assume old due date as next statement due date. It is more accurate to calculate yourself since we all getting 20 days after statement date to pay.
So assuming your statement date is 14th every month, due date for Feb statement is March 6th (due to 28 days in Feb) and due date for March statement is April 3rd.

Your amount due more than RM10k?

Did you repay fully before due date? Or you did cash advance before?

Did you know you will not entitle to 20 days interest-free for all your transaction if you didn't clear off the amount due in statement?

Depend on your payment record.

Tier 1: Cardmembers who settle their minimum payment promptly for 12 consecutive months - 13.5% p.a. or 1.125% per month
Tier 2: Cardmembers who settle their minimum payment promptly for at least 10 months or more in a 12-month cycle - 16% p.a. or 1.333% per month
Tier 3: Cardmembers who are neither in Tier 1 nor Tier 2 - 17.5% p.a. or 1.458% per month

55 days interest free period only applicable if you have fully paid your balance for previous month.
Interest is calculated on daily basis, from the date of transaction until full payment. The interest will be charged to your bill on the following month.

Check here if this explanation is good enough for you.

http://www.commbank.com.au/personal/credit...estiscalculated




Bro, annual fee has nothing to do with interest. Annual fee is like membership fee.

Yes, only if your credit card doesn't require you to swipe certain number of times to get "free annual fee".

There is still no late payment charge as long as credit card holder make payment on time (doesn't matter his card carrying huge outstanding balance).
But huge outstanding balance will incur a lot of interest.

I guess u entitle for 13.5% interest since u doesn't have to pay if you didn't use your card (minimum payment will be zero).