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 Some questions about Maybankard EzyPay, HELP

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TSJusticeDeserves
post Nov 29 2010, 02:06 PM, updated 14y ago

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I need some help. I'm planning on getting a new computer. Lets say I pay by credit card, is it possible to convert that amount into an installment plan? I was looking at the Maybankard EzyPay page but I would like to get some opinions and ask a few questions. They say "Save money with 0% interest instalment plans" but is it really 0% interest? The computer costs 6300, so can I pay it all over 12 months at 500/month?

http://www.maybank2u.com.my/mbb_info/m2u/p...Key=CRD01.16.01

Sorry, I'm not so good at all this. I was planning on asking my parents to pay for it first and then I pay her back. Haha, so if I could get help it would be great!

BTW: I hope this is the right place

This post has been edited by JusticeDeserves: Nov 29 2010, 02:06 PM
lawsh
post Nov 29 2010, 02:13 PM

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convert non-installment to installments will cost you 9% 1 time fee smile.gif

(6300 * 1.09)/12 = 572.25
TSJusticeDeserves
post Nov 29 2010, 02:31 PM

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QUOTE(lawsh @ Nov 29 2010, 02:13 PM)
convert non-installment to installments will cost you 9% 1 time fee smile.gif

(6300 * 1.09)/12 = 572.25
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For the first month only?
almeizer
post Nov 29 2010, 03:26 PM

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QUOTE(JusticeDeserves @ Nov 29 2010, 02:31 PM)
For the first month only?
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If u read carefully, it's 12 ... that's why times (x) with 12.

By the way, I think the 9% is charge 1 time upfront and not divided by 12.

So first month will be charge 9% x 6300 = 567 and 525 (6300/12). Following months will be 525. only.

This post has been edited by almeizer: Nov 29 2010, 03:30 PM
happyprince
post Nov 29 2010, 03:59 PM

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Why don't you just purchase the computer and make 0% easy payments directly at the shop ? The shop owner will charge you about 5 - 6 % only..
But each shop will have different policies..Better ask first before purchase
TSJusticeDeserves
post Nov 29 2010, 04:27 PM

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Yeah I called Machines. They said it's 4% interest only for the first time.
5234 * 104/100 = 5443

So if I take the 12 months installment plan, it will be 453(5443/12) a month. Now how much interest will Maybank charge?

barista
post Nov 29 2010, 05:10 PM

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There will be some sort of administration fee. Just find out from the bank.
azliayob
post Nov 29 2010, 05:36 PM

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QUOTE(JusticeDeserves @ Nov 29 2010, 02:06 PM)
I need some help. I'm planning on getting a new computer. Lets say I pay by credit card, is it possible to convert that amount into an installment plan? I was looking at the Maybankard EzyPay page but I would like to get some opinions and ask a few questions. They say "Save money with 0% interest instalment plans" but is it really 0% interest? The computer costs 6300, so can I pay it all over 12 months at 500/month?

http://www.maybank2u.com.my/mbb_info/m2u/p...Key=CRD01.16.01

Sorry, I'm not so good at all this. I was planning on asking my parents to pay for it first and then I pay her back. Haha, so if I could get help it would be great!

BTW: I hope this is the right place
*
Check the shop banking facilities first. Do they provide EZ payment 0% interest?

Its true free interest if the monthly payment you pay on time. But, bear in mind, watch your current credit limit...

if you use 6000, then month by month, you ll get back 500 credit limit...

i had done so many EZ payment, but need discipline to pay on time or else... rclxub.gif
almeizer
post Nov 29 2010, 07:40 PM

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If u have alliance credit card then it's 0% until 31 dec 2010. Charge to your card then call them to convert to FPP (flexi payment plan).

This post has been edited by almeizer: Nov 29 2010, 07:41 PM
TSJusticeDeserves
post Nov 30 2010, 12:03 AM

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I'm using Maybank, do they have FPP?
SUSDavid83
post Nov 30 2010, 12:08 AM

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QUOTE(JusticeDeserves @ Nov 30 2010, 12:03 AM)
I'm using Maybank, do they have FPP?
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EzyPay is a conversion into installment plan at the point of sales and it depends if the merchant has collaboration with Maybank with usually no interest/fee imposed.

EzyPay Plus is a conversion into installment plan after the sales took place and you'll be charged for upfront/on time fee.
TSJusticeDeserves
post Nov 30 2010, 01:36 AM

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So if I purchase the laptop from Apple(6300) with my credit card, I can contact maybank to convert that amount to an installment plan?

Damn this is so confusing.
SUSDavid83
post Nov 30 2010, 07:55 AM

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QUOTE(JusticeDeserves @ Nov 30 2010, 01:36 AM)
So if I purchase the laptop from Apple(6300) with my credit card, I can contact maybank to convert that amount to an installment plan?

Damn this is so confusing.
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You have to ask the merchant first whether they offer such installment plan with your MBB CC.
giftfre
post Jan 12 2016, 11:15 AM

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Anyone here successfully did the EzyPay Installment 0%?
Did you fill in some kind of form at the counter of the shop there?
chiahau
post Jan 12 2016, 11:16 AM

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QUOTE(giftfre @ Jan 12 2016, 11:15 AM)
Anyone here successfully did the EzyPay Installment 0%?
Did you fill in some kind of form at the counter of the shop there?
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No need.

If terminal supports EPP, just ask to convert at the terminal straight.
sughizo
post Apr 28 2016, 02:18 PM

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Just needed to check with some gurus here.

For Maybank EZPay, say i swipe for RM2700++, and under a 24 months EPP 0% interest plan , which means roughly RM118 a month.

Would this RM2700 be recorded into my bank statement and become an outstanding amount? Or is the outstanding only considered RM118 a month for the next 24 months?

Reason im asking this is because im applying for a bank loan and the agent just told me that im good for the loan but barely just made it so within the next 1-2 months try not to use the credit card for more then RM1000 otherwise i might fail the loan as they are still processing.

The thing is, i just made a swipe for the EPP without knowing this.

Would anyone be able to enlighten me? I checked with the agent, he said it shouldn't be registered since they only look at outstanding amount.
alex_cyw1985
post Apr 28 2016, 02:47 PM

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QUOTE(sughizo @ Apr 28 2016, 02:18 PM)
Just needed to check with some gurus here.

For Maybank EZPay, say i swipe for RM2700++, and under a 24 months EPP 0% interest plan , which means roughly RM118 a month.

Would this RM2700 be recorded into my bank statement and become an outstanding amount? Or is the outstanding only considered RM118 a month for the next 24 months?

Reason im asking this is because im applying for a bank loan and the agent just told me that im good for the loan but barely just made it so within the next 1-2 months try not to use the credit card for more then RM1000 otherwise i might fail the loan as they are still processing.

The thing is, i just made a swipe for the EPP without knowing this.

Would anyone be able to enlighten me? I checked with the agent, he said it shouldn't be registered since they only look at outstanding amount.
*
I think it doesn't matter is RM2700 / RM118, from bank, your account is RM2700, but statement is RM118.

Your credit limit is reduced by RM2700.
sughizo
post Apr 28 2016, 02:56 PM

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QUOTE(alex_cyw1985 @ Apr 28 2016, 03:47 PM)
I think it doesn't matter is RM2700 / RM118, from bank, your account is RM2700, but statement is RM118.

Your credit limit is reduced by RM2700.
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Yup credit limit reduce is fine and understandable, but based on what the bank agent sees it, they only look at our outstanding payment for the credit card.

Since i am currently in a EPP plan, outstanding every month should be RM118 right and not considered as RM2700. The credit limit reduce basically just reduces the amount of total credit in the card?


wkphang
post Apr 28 2016, 06:28 PM

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QUOTE(sughizo @ Apr 28 2016, 02:56 PM)
Yup credit limit reduce is fine and understandable, but based on what the bank agent sees it, they only look at our outstanding payment for the credit card.

Since i am currently in a EPP plan, outstanding every month should be RM118 right and not considered as RM2700. The credit limit reduce basically just reduces the amount of total credit in the card?
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Taking your eg. (provided this is a 0% installment plan)

Total credit limit before 0% installment plan = RM 6000
Total credit limit after make the purchase using installment plan = RM 6000 - RM 2700 = RM 3300

Monthly payment = RM 118
If is 12 months plan, then this RM 118 will appear at your statement every month until the plan completes.


When you pay RM 118 on 1st month (1/12), then your credit limit (assuming you did not make any purchase), will be RM 3300 + RM 118..... you will get back some of your credit limit gradually, until your plan completes.

Btw, not sure how you get the RM 118 from RM 2700.

If you take 0% installment plan,

12 months = RM 2700 / 12 mths = RM 226
24 months = RM 2700 / 24 mths = RM 113

wkphang
post Apr 28 2016, 06:32 PM

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QUOTE(alex_cyw1985 @ Apr 28 2016, 02:47 PM)
I think it doesn't matter is RM2700 / RM118, from bank, your account is RM2700, but statement is RM118.

Your credit limit is reduced by RM2700.
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If you are worry, and if you have extra/spare cash, you can deposit to your card...

Eg, your credit card outstanding is RM 4000, and based on your agent ... your credit card outstanding need to be at RM 2000 and below, then put RM 2000 or more.... so your credit card outstanding become below RM 2000.... thus, when the loan officer check, it will see that you did not fail the requirement.


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