Just checked my Amex Gold CC account and noticed that I got both 5x points and 15% rebate at MPH for the cashback promotion, that's pretty good.

The exact formula is at the back of your CC statement. But if you want a summarised version, it's basically total amount owed times interest rate times amount of time outstanding. Or in simpler terms, your outstanding amount is subject to daily compound interest.

http://en.wikipedia.org/wiki/Credit_card#Interest_charges

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Added on January 25, 2010, 9:34 pmYes, got my Ezypay transferred to my active card without me needing to specifically ask them to do it.

This post has been edited by charymsylyn: Jan 25 2010, 09:34 PM

Late payment charges is only charged if payment is made after due date or less than minimum is paid at/before due date. He will only be liable for finance charges and loss of 20-days interest-free period for retail transactions.

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Added on February 8, 2010, 1:04 amSome Petronas (usually in the city/highway) accept Amex, just that you need to swipe at counter and not at the pump. This also applies to Caltex, Bhp, and Esso/Mobil. Only Shell accepts Amex at the pump.

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Added on February 8, 2010, 1:16 amNo, interest rate for credit cards is quoted at per annum basis, but charging is on daily compounded basis. Refer to the following for more details:

http://en.wikipedia.org/wiki/Credit_card#Interest_charges
http://en.wikipedia.org/wiki/Annual_percentage_rate

This post has been edited by charymsylyn: Feb 8 2010, 01:16 AM

This is closest to the correct answer, although the calculation did not take into account compound interest effect.

Note that typical for Malaysian banks, finance charges is calculated up to the last payment date of the current statement cycle. This avoids a situation whereby even if you pay your outstanding in full, you still owe the bank extra due to the effect of compound interest.