Ya. I am new to cc.

Since your new to cc, let me give u some tips.

1. Interest rate for cc is 18% interest p.a(per annum) means 1.5% interest per month
2. Don't use the credit card if you can't fully settle it every month
3. In the event u cant settle fully, the balance amount will be subjected to 1.5% interest
4. If u have pay late, u will b subjected to late interest amounting to 0.05% (not sure if they have change this %)
5. If u have a saving/current account with the same bank, you can actually do a standing instruction to pay the credit card
6. In the even u need cash, you can use your credit card to withdraw cash from atm machine but of course u will b subjected to 5% interest against the amount of cash u withdraw. For example if u withdraw RM1000, u will b charge RM50 interest immediately. If u withdraw less than RM1000, the benchmark for interest charge will be at RM50.
7. Now this is most important, if u have been paying late, meaning u fail to pay the minimum payment of the cc statement for 6 consecutive month, u will automatically b tag in CCRIS and u wont get to make any further borrowings from any bank smoothly since u will b classify as a bad pay master.
8. Now most CC card gives reward points so that u can use to redeem gifts from the bank that your CC is attach to
9. When u purchase high value object for example a watch, u might be subjected to a cc service tax(not sure what this tiax is call) that varies for different outlets ranging from 1%-3%. Always ask the salesperson what the amount is.
10.Finally when your purchasing something above RM500, make sure u ask the salesperson whether they have installment plan, cause most installment plan will comes with 0% interest on the amount u charge on the card.
11. Government has implemented RM50 government tax on each card u own which can b paid annually
12. Please check your statement as they arrive for sometimes they tend to charge you annual renewal fee which can very well be waved by just calling their hotline and ask them to waive it.

I think that is about it. Just dont use the CC cause you are using advance cash. Is good to carry 2 CC if u travel frequently. I have been to certain country that does not accept certain CC cause they're not familiar with the bank. IMO better CC are from foreign banks since they're more recognize.
Personally i keep 2 which i do not use unless is neccessary

Bro ... I hate to point this out but many of the points that you mentioned are questionable / incorrect.

this is processing fees that should be paid by merchant to cc to use the service, cc user should not bear this cost & could just choose another shop

This post has been edited by SeanChang: May 22 2010, 11:29 AM

but almost all of merchants/ shops would want buyer bear the cost. only those huge supermarket/giant store like as carrefour, tesco didnt charge user for that.

Most of the shops (especially computer shops) no longer revert the merchant charge to their customers.

i bought parts from a computer shop yesterday and they charge me 2%..

which bank credit card you used?

that's good news BUT average there's more shop collecting the 2% than those not.

Then i guess i'm lucky as all the computer shops here in Kota Kinabalu no longer revert the merchant charge to the customers. I can now even pay for ink toners with credit card without incurring any extra charges.

Guys,

Citibank is having a promotion with its Platinum card issit? An agent approached me yesterday and telling me applicant gonna get free trip to either Bali, Phuket (got 6 locations to choose from) for two pax. Even said GST waived if swipe 3times during first month.

I'm using HLB cc..their merchant is PBB..but even if im using PBB cc they still gonna charge me..

That's an offense and reportable to Visa International.

hello guys...have sum problem here...

im using CIMB petronas credit card with RM4000 credit limit...supposedly if im already use RM 2,662.23, i still have RM1337.77 that i can utilize right? but when i checked my account online, the below particular came out:

Combined Credit Limit :RM 4,000.00

Present :
Outstanding Balance :RM 2,662.23
Credit Available :RM 259.00
Current Amount Due :RM 2,662.23

credit available means the amount that i can use right? shouldn't the amount is RM1337.77?

Please help me...

Do u pump petrol using the card? If so they r holding certain amount of ur credit limit.

yup ive use it to pump petrol...last time i use it to pump petrol 2 days ago..but holding 1000 ringgit is a bit too much la hehehe...do you know how many days they will release the credit limits?

@polemic
You got BT with that card?

or easy payment?

mr hye: i m very sure im right, cause i was formally a bank personnel maybe the figures r different since i left the bank about 6 years ago

This post has been edited by lordsapt: May 22 2010, 10:42 PM

Pump petrol one time, RM 200 is held for 10 days (speaking from my experience using CIMB card - not CIMB-Petronas though).

If you pumped petrol 5 times in the last 10 days, you get RM 1000 held.