called CIMB CS but no one pickup the call!

Call them at odd hours e.g late night or very early morning as some forummers have reported better results @ that time.

I can reach them at the Sunday morning without any free songs listen

This morning 230am, I call DA to activate card. No waiting time at all. You may want to try it.

Btw, the CS not allow me to transfer my Gold Card point. I can only redeem it.
Anybody transfer point before?

I need some help from the sifus here...
Which card is more suitable for overseas transaction?
I still don't get it.

AMEX gold cc - 1.5% conversion cost + 0.5% processing fee
Direct access - conversion rate set by MasterCard + 1% processing fee

In the end, which 1 is cheaper to use in overseas?
Thanks a lot!!

You can refer to first page for the list or look at this post

However, some LYN forum member verified that Maybank is the cheapest even though they charged 0.5%.

This post has been edited by GHz: Feb 1 2010, 08:40 PM

You need to change the one for AMEX with Maybankard logo (both Islamic and non-Islamic) as the admin fee is only 1.5%. It is stated on the back of my mom's old Maybankard AMEX statement.

Thanks for point it out. Table updated.

I asked to transfer anything but not sure if the points are transferred as well since there's no way to check it online till you receive the next statement.

I thought there was a post where a forumer successfully transfered his points and balance from his DA gold to plat. Anyway David please let yus know when your next statement comes .

DA points last for 3 years right?

The problem with that it is not something that is recorded in B&W from the bank. Whether points transfer request is successful or not is purely up to the discretion of the bank. So one guy was successful doesn't mean the next will be coz it is not officially written in the bank's T&C.

What is written in most cc's T&C, is that points rewarded valid so long it doesn't expire and/or the cc account remains active.

Yes ... DA points last for 3 years.

I am not sure about that.

AMEX gold charge 1.5+0.5% according to market exchange rate ...
DA charge 1% according to the Visa/Mastercard exchange rate.

However, i found out that the exchange rate of Visa/Mastercard is lower than the market rate.
http://www.corporate.visa.com/pd/consumer_..._ex_results.jsp

E.g. Market rate for RMB-->RM is 0.491
Visa rate is 0.49.
So, end up when u use DA....
u need to pay 0.49(visa rate) +1%...
which is cheaper than maybank AMEX gold cc which is 0.491(market rate) +2%

Is the above true?

This post has been edited by cantona7: Jan 13 2010, 06:49 PM

@cantona7

Your calculations may be spot on but the problem is that nobody could confirm what is the exchange rate (and method of calculations) that each bank is using to determine overseas expenses.

The previous forummer actually performed a few transactions using different cards but swipe at the same date (of course slightly different time) and same value. Surprisingly, the converted value in RM differs and proved that MBB is lower than DA although theoretically MBB should be higher.

I mean just take it as it is ... coz credit card is all about convenience and security. If you want it any cheaper then use cash. Bear in mind in forex conversions it's either the money changer or the bank stands to gain from you - you can't run away from it. Even debit cards are subjected to forex conversions when used overseas.

To put things in perspective, the actual exchange rate is akin to the stock market where the banks are the punters buying & selling as required.

The rates quoted for the day normally reflects the highest rates for the previous day plus a % of profits. Thus it very unlikely that a comparative benchmark can be properly derived.

@cantona7,
Also, if you're using ur Amex overseas, there's a double exchange rate conversion unless you're spending in USD. Amex typically converts the local currency into USD before making a 2nd conversion to RM; that in itself usually makes you lose out when you use Amex overseas.

Both VISA and Mastercard also use US$ as the base currency for all foreign transactions not done in Ringgit.

@MilesAndMore,
U mean there's also a double conversioin for Visa & MasterCard?

Thanks hye for the clarifications.

Based on hye, use MBB.

Tinkerbell, I am sure u have a lot of cc.
Which card do u use when u r in overseas?
wat do u recommend?

I guess so. It is written on Public Bank's website. I have also read about that on other websites. So i guess it is the same for all other banks and not just Public Bank as the conversion will all be done by VISA/Mastercard and not our card's issuer bank.


No problem. One more thing. The admin fee for HSBC is 1.25%, not 1%. I just found out about this from the back of my credit card statement.

Yup ... you took the words right out of my mouth ! Couldn't have said it better.
Guess I have a very long winded way of explaining things.