Apr 28 2016, 06:28 PM
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?
Taking your eg. (provided this is a 0% installment plan)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?
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
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