both had theirs done in pavilion today

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Added on September 21, 2010, 1:46 amdo share with us when you get yours

just wait for one hour get card immediately!

This post has been edited by rockefeller: Sep 21 2010, 01:46 AM

Hi there,

To get 10% rebate for your motor insurance, do you have to go to a Chartis branch to pay the premium? Or can just ask Chartis via standing instruction to automatically charge your credit card?

Like I mentioned makes more sense to limit to 2 banks instead of 2 cards. Wonder what will happen when BNM imposed this to people who have cards issued from more than 2 banks.


Yah lah OCBC damn stingy giving me CL same as my lowest Plat CL but higher than my Citi Clear Card CL 30K.

But then again comes 1st January 2011, one do not need more than RM5K CL as get nothing from the card if spend more than RM5K (assuming all non 5% rebate transactions).

I really don't know what you complaining about. Give you free credit also not satisfied. Just go use the RM38 and then after 6 months cancel the card la.

Good to know you finally got your application approved.

You do eat a lot don't you

So did you call OCBC CS and enquire why? Most probably your application lost and gone missing.

Strategy: Offer to pay for colleagues

Submit a complaint letter through ocbc.com.my contact us web...

So good??
My 1 is MSIG, if renew myself got 10% discount and those benefits??

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Added on September 21, 2010, 7:29 amThanks
Waiting for the card now...

This post has been edited by travelyew: Sep 21 2010, 07:32 AM

Yes. I think i'll try my luck Will post an update if i get it ... But really sure RM30k from HSBC credit card is enough ? It's kind of surreal ...


Every year, you will get a renewal notice from them. I do have to go to their office to lower down the sum insured. So usually, i pay at their office and not via the reply form. The 10% rebate saves me around RM60 + RM10 (agent's runner fee). To renew a motor insurance policy doesn't take much time. The total savings definitely is worth it that i do it all on my own. Besides, last time when my car got in an accident, my agent did not help me to do anything too. All the claims were prepared and done by the car repairing centre. So why would i need an agent's service right ?


Yes. I believe you will. I believe the 10% is the agent's commission and they will rebate it for you if you are not using an agent's service. Not exactly sure if MSIG will get you the AAM membership though. I believe it is exclusively for those renewing their motor insurance policy through AIG (now Chartis) only.

Oriental motor insurance (comprehensive only) also comes with complimentary AAM membership.

Mine is 26 year old car, no more hope to get comprehensive cover. should thank God already for having Allianz willing to cover my car..

I have called OCBC CS. They said my status is "Under Processing - Pending Recommendation". I wonder what kind of recommendation they need to approve my card . The CS lady said she will check with CC Department and get back to me by today. Let see what she can do.

Is this your first time to apply cc?

Are you working abroad?

Did you change employer from the last credit facility you applied through any financial institutions?

Pending recommendation??
what is it??/

Nope to all question.

I have no idea. It is somehow a weird term, like need some kind of introducer.

Tuesday September 21, 2010

Lower credit-card limit will not impact profitability of banks

BY DALJIT DHESI
daljit@thestar.com.my


PETALING JAYA: The plan to limit credit for credit-card usage among the lower income group will affect only the interest income portion of banks in the short term but will not impact joining and merchant fees or the overall profitability of banks, analysts said.

Malaysian Rating Corp Bhd (MARC) vice-president and head of financial institution ratings, Anandakumar Jegarasasingam, said the lowering of the credit limit was not likely to have a major impact on banks’ profitability.

“Banks derive income from credit cards in three forms: joining and annual fees, merchant fees when credit cards are used for payments, and interest income when credit is utilised beyond the interest-free period,” he said.

“The lower limit is not likely to impact the first two sources of income. This is because joining and annual fees are independent of the credit limit assigned to a cardholder.


“Although a lower credit limit will impact merchant fees that are levied on transactions as a result of the lower value of transactions, this is not expected to be a major concern.

“In the short term, to a certain extent, the lower credit limit can affect interest income earned from credit-card advances as the outstanding credit-card advances may be reduced to be in line with the new lower credit-card limit,’’ Anandakumar told StarBiz.

Besides having multiple sources of income from cards, analysts generally agreed that individual banks have their own credit risk management tool that allows them to check the financial credibility of customers and hence it won’t impact their bottom lines in a big way.

“Individual banks know the “comfort level of their customers”, among others through bank deposits, to ensure that they are able to pay back their credit-card loans,” he said.

Talk is rife that banks are looking at limiting the credit limit for those earning RM12,000 to RM36,000 a year at two times their monthly salary.

Major credit-card players like Citibank Bhd, Malayan Banking Bhd (Maybank) and CIMB Bank Bhd as well as other players declined to comment.

The Association of Banks in Malaysia, in an email reply, said: “Banks are continually reviewing their products and services in tandem with changes in the marketplace to ensure prudent management of credit risk.

“Admittedly, there have been suggestions from some quarters that for the purpose of instilling better financial management on consumers, tying credit limits to incomes is a possible approach.

“Be that as it may, any changes to be made to the card businesses would be carefully evaluated and due consideration of all issues will be made before implementation, particularly, in relation to any potential adverse impact of pulling credit.”

RHB Banking group director of retail banking Renzo Viegas said: “No such decision (to impose credit-card limits) has been made.”

The mean monthly income of Malaysian households ranges from RM3,000 to RM4,000.

“The bank’s customer segment with credit limit up to RM10,000 is our largest segment, at about 60% of our card base. However, the Kuala Lumpur/Selangor region’s card base, with its higher income range, has a slightly larger mix of higher credit limit segments.”

Meanwhile, Consumer Association of Penang president S.M. Mohamed Idris said that the move to cap the maximum credit available at twice the monthly income of the cardholder may give rise to the problem of multiple applications.

He suggested restrictions on the total credit available, regardless of the number of cards held.

http://biz.thestar.com.my/news/story.asp?f...73&sec=business

My situation is I don't have any employment / income in Malaysia but hold a HSBC card with RM30K limit, means I can apply for this?

Edit : Just saw T&Cs , Malaysian citizen only

This post has been edited by rjb123: Sep 21 2010, 11:44 AM

Hi LYN forumers out there, did you guys see any OCBC promotion booth at any shopping mall or hypermarket? Please inform me if there is. TQ.

Do u know what is the requirement for SCB card limit for CIMB/DA VI or WM application?

Is minimum card holding period, let say at least 1year applied?

Just received a call from OCBC CS. My pending application problem is cause by my billing address in CC application form is different from the record in their system. Last year I applied OCBC home loan using my old home address, now is new house address. After address is updated, CS ask me to check my application status next week.

It's a shame they did not call me to reconfirm my address. Instead they choose to left my application on pending recommendation status.
If I did not call in to complain, I dont know how long do I need to wait. This is my 3rd complain to CS btw.

meaning HSBC's cc is better than others?

need quick verification on Alliance Rates card

"Your finance charge is only 9% p.a. for the first 12 months, and thereafter it is subject to your payment behavior in accordance with Bank Negara tier interest guidelines. If you consistently make minimum payment every month, the finance charge remains at 9% throughout the tenure of the card."

does this means i must pay the exact minimum amount stated in order to enjoy 9% interests? Or can i pay more than that?

I think it meant HSBC ultra stingy with their limit and if need higher limit, cannot find customers lieu