Last month I got charged RM50 tax on my Citibank Clear Card, so I called Citibank and asked if I can cancel the card and the RM50 waived. I was informed that I can cancel the card and it will take about 3 months for the government to reimburse the RM50 and I need not worry about the outstanding amount. So I told the CS to cancel my card.

I have too many credit cards, now starting to collect Debit Cards as it is tax free and same time get same benefits or even better compared to credit card from same issuer.

2 weeks ago made few transactions at Singapore with DAWMC, Alliance Visa and OCBC Titanium. Alliance conversion forex rate was the highest followed by DAWMC and OCBC. OCBC and DAWMC rate about the same. Alliance rate was 1.24% higher when comparing to the other two cards.

Last year when I used Alliance Visa at Singapore the rate was comparable to MBB. No more using Alliance Visa for me for overseas transactions.

I noted you mentioned few posts back that Alliance MC overseas rate still ok. Told my wife to go get her own Alliance MC Plat since she has PB banking with them (she has 5 supp cards from me, so when she go buy her stuffs with her own card she won't hear me nagging how expensive the things are when I see the statements, ahaha) and this will also help her build her own Credit History. I kind of like Alliance because of their evergreen reward points and cash back capped at RM800+ per annum.


alexwsk: Airport Lounge for RHB Plat - 4X a year at KLIA, LCCT and Senai. 4X access share with supp card (i.e. Supp card also can enter free).

Recently there have been many posts here on IBG which are informative, maybe someone would like to open a new thread and summarize the info posted here. How about you MilesAndMore.

Well, if you do have overseas transactions then I would suggest you keep MBB Petronas since it is free and has the lowest rate for overseas transaction. I regret cancelling my MBB Petronas as now Alliance Visa overseas rate is high.

As the the other cards, cancel all and get OCBD Titanium

Cancel UOB One Plat as OCBC Titanium better as gives 5% at all petrol station, groceries store and for dining.

Cancel HSBC Premier if you have it because you deposited FD with them. There are better rates from other banks for up to one year tenure (for comparison, RM200K you can get RM1500 extra interest a year). However before you cancel HSBC Premier, go apply for CIMB WMC using your HSBC CC. If you did read previous posts, with HSBC CL of RM30K, you can qualify for CIMC WMC.

With CIMB WMC cancel your CIMB Petronas as CIMB WMC got better offer. With OCBC Titanium you get 5% rebate for all petrol stations so no need CIMB Petronas.

Citibank Signature - well this is SG card? Guess you would want to keep it.

For today's rate, 3% for 12 months is low, many bank offering better rates than 3%.

Citibank, HSBC and SCB 1 year FD rate is low. When I mentioned RM1500, actually I took into consideration HSBC promotion of 3 months rate of 5%, so if your rate is 3%, then you can get close to RM2000 extra from other banks today. PM me if you want to know more.

Click on my signature below CC 101 to read more on Credit Cards.

Yes, apply for CC that gives you life time free annual fee waiver like MBB Petronas or Direct Access/CIMB where you don't even need to swipe once and still got no annual fees but need to pay RM50 government tax. If you have annual salary of RM36K then apply for American Express Gold Credit Card and OCBC Titanium where both also are free for life.

Haha, another HSBC loyal customer.

UOB Preferred Plat, well I have it too, hardly use it except for auto debits which I signed up more than a decade ago. Keeping the card as it was my first local issued card and the first bank to offer me Plat back in the early 2000. Going to cancel my wife's supp card soon tho as her transactions are not considered for the required number of swipes and amount spend for auto annual fees waiver. UOB not much promotion, but do get 2X reward for overseas transaction. Ask them to waive the GST if they want to maintain relationship wth you

Like I mentioned earlier, MBB lowest rate for overseas transactions.

As for OCBC, well after 1st January 2011, you still get 5% rebate for dining and petrol lah. Free annual fees and best of all RM50 tax waived if spend RM10,000 with the card. However got to plan properly as rebate capped at RM50/monthly and no reward points. But I guess since you mostly overseas not worth to get the card with RM50 monthly capped rebate.

You want more CL, go lah deposit FD with OCBC

Early this month I posted that Citibank informed me that I can cancel my Clear Card eventhough the Government Tax of RM50 have been posted and it will take the government up to 3 months to reimburse. So I asked for the card to be cancelled.

Well got my statement today, it states Government Service Tax Reversal - RM50CR and my outstanding balance NIL. Must say Citibank damn efficient. So for you guys wanting to cancel citibank CC, make sure you don't have outstanding balance before proceeding to cancel your card even if Government Tax have been imposed.

I also mentioned I asked my wife to apply for Alliance Plat MC earlier, she applied on 18th Oct and received it today. Pretty fast considering her Hybrid Account Cheque Book (account opened on same day) is not even ready. Next time overseas will use her Alliance MC and my Alliance Visa to see any diff in conversion/admin rate.

For item 3, No interest up to Dec 31. After that, there will be interest on the RM19K if you have yet to settle in full.

If your statement is on Dec 15, your due date would be around 5th of January. Just settle everthing in full before Dec31 for the amount shown in the Dec 15 statement.

For my case, once I get my December 11 statement, going to BT 90% of outstanding immediately to DA and settle the balance with OCBC before Christmas. Kiasu a bit in case got hiccups due to BT documentations.

Well actually the rate is around 2.5%-2.7% for the above example.

Yes, using credit card the exchange rate will definately be higher than money changer. However you also need to take note of the posting date and transaction date. The conversion rate can also move within 1-3%% within this time frame.

Even if you go to bank and buy bank drafts in US currency the rate will also be higher than money changer and note all banks have different rates. Not only that, for "special" rate (not over counter rate) from banks the conversion rate can also change during the day.

So if you really want to save on conversion rate for overseas transactions, get Maybank Credit Card which has the lowest conversion rate. See 1st post of this thread.

Actually I think OCBC did the right thing, they did try to reach you 3 times. I don't mind when banks called up to check if I made a transaction.

Not only giving readers wrong ideas, he is actually advertising himself as a dishonest person.

Your english is perfect. After 3 transactions using OCBC, they try to contact you 3 times but failed. Is that correct?

Actually OCBC did call me up once only when I did my very first transaction amounting to more than RM4K. After that smooth sailing.

In respect of your 1st paragraph, as rayfoo mentioned you will need a year to apply for other cards based on EON's card.

In respect of your 2nd paragraph. you can apply for other credit cards as long as you can proof you got income and meet their income requirements. Not only that, if you have read previous posts here, a member deposited money into OCBC FD and was issued the OCBC Titanum card eventhough his income did not qualify him for the card.

True, but I guess is because the banks aren't traning the staff enough and updating/briefing them on new products but instead pressuring them to get people to sign up for cards and unit trust.


Not only that, you can gain more interest like I mentioned earlier (minimum close to RM2K a year for RM200K) if deposit money in another bank based on today's promotional rate. Use this extra money and get AMEX Plat Charge Card better if want to show off "status". Also HSBC Premier MC don't give you access to KLIA lounge.

Same case for SCB VI, go deposit money with another bank and will get higher FD rate today and earn more than RM2K in interest since SCB VI need RM250K in FD (not applicable to those who got SCB VI because got loan from them). But there is one good thing about SCB VI is that it give access to VIP airport lounges and very good insurance protection when buying air ticket with it.

And both HSBC and SCB overseas transactions admin rate is high, normal CC from MBB better anytime for overseas transactions.

Then again, people like me who have HSBC Visa Plat card can't get HSBC Premier MC without depositing RM200K with them. My Dad have both HSBC Visa Plat and HSBC Premier MC but he will tell you that HSBC useless as he never "win" anything from using them. And me non HSBC Premier customer have higher CL than him.

why can't do FPP for HELP? Less than RM1K? This year my son did summer school at Taylors and his fees were converted to FPP.

Don't worry about it. Can be easily overcome by cancelling your card(s) or reduce your CL if the need arise. Just continue to settle in full and don't pay interest on outstanding balance.

This post has been edited by Gen-X: Nov 1 2010, 08:30 PM

you must be really exited as your post above is like a sms msg. haha

just want to tell you to activate the card and tell CS you going overseas (coutries you may use your card) to avoid your transactions not being successfull or them calling you on your mobile to confirm (and you paying overseas rate for the call).

Yah, RHB Premier Banking CS not very helpful but I guess that's because of their online system which don't provide them much info except what is already available in RHB website. My RM worse, he knows next to nuts except keep asking me to "play" forex.

To get RHB VI, as far as FD is concern I was told need min USD100K equivalent, with exchange rate now at 3.1 only need RM310K in FD. However there is an annual fee of RM1K for RHB VI. With RM300K in FD, better go deposit with another bank and earn extra interst of RM1,950 when comparing to present FD rate of 3.35% for a year at RHB.

RHB PB customer are issued RHB PB Debit Card where 1st year free and subsequent year RM50 (damn, equivalent to CC GST) but do get RHB Plat Visa free (also need to pay GST). However they is an advantage of getting a PB Debit Card as when you show the person controlling the Q ticket, you will be issued a Q number next in line by-passing others.

But like Hye mentioned, RHB CC not much offer; however, the VI do offer pretty good travel insurance when purchasing air ticket with it.

If you really really want RHB VI, go to your branch and get the Manager to recommend you for the card.

This post has been edited by Gen-X: Nov 2 2010, 10:56 PM

No cash that's why need plastic cards loh I was having dinner with a rich man recently and found out that he don't even have a credit card, he pays with cash or cheque.

As far as I am concerned, people who have status are those with AMEX Plat Charged Card where they wiiling to fork up for the annual fees. Where is Dozz? That is one guy we know that is loaded.

As for Plat cards, there are so many in the market and not all the same. The better ones offer Protection Plan for purchases and good travel insurance coverage.

Alliance Plat card is pretty good where you get 1) cash rebate & reward points 2) Protection Plan 3) Accss to KLIA lounge 4) Free auto annual fees (with conditions) 5) Timeless reward points and 6) 2X reward points for overeseas.

For purchasing airline tickets, Citibank Visa Plat and HLB Plat insurance coverage are pretty good. HLB covers spouse and children up to RM1.7m and free RM300K PA.

The point is, you get a card for its benefits, that's why a lot of people here with want OCBC Titanum which is a lower "class" compared to Platinum