Guys i'm a total CC noob(never owned one)..i plan to get the OCBC Titanium MC. is it better to get cash rebates or get reward points? i wont spend that much, mostly on petrols only. of course some shopping..groceries...etc.. Another question is, is there a installment plan for OCBC Titanium MC ? if so, what is the interest rate and how do you count it? hmm..

i see~ Thanks

Guys, i have a question. AFAIK, OCBC titanium MC dont have ezy payment plan (from the bank, not by merchants). So lets say i purchase something for RM 1000. Minimum monthly payment is 5%, RM50.
So, if i pay consistantly the minimum payment, i wont get charged the 13.5% pa interest right? and it will be like 0% month installment payment? is my understanding correct?

Hehe, what i meant is AT LEAST pay the minimum, but surely will be more so that it will take just a year or less than that. so, it means 1000 will directly X 13.5% even if i have a good record or payment?(consistantly paying more than min 5%)

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Added on January 31, 2011, 2:01 pmOr is it
Jan : 1000X13.5 - payment = balance
Feb: balanceX13.5 - paymnt = balance
Mar: balanceX13.5 - paymnt = balance
..... so means the interest is charged monthly according to previous unsettled balance? i just want to know more before i get a credit card..and choosing which credit card. So, those banks that have 0% ezpayment means really 0% (by merchant) ?


This post has been edited by ultra_nyamuk: Jan 31 2011, 02:01 PM

The thing is i dont have one at all im still considering getting a CC or not. Actually i have a sup card, but i dont use it anymore. So, i wana cancel it and get one..and hopefuly utilize it to save some money and "spread" my finances...means using monthly payments so i can use the rest of my monthly income for other things(eg savings/investment) Right now considering between 2 cards OCBC and Maybankard2. Any advice on this ? i did read your blog, but im trying to understand CC dynamics.

Haha...i see people here are quite agitated. Ok, i get it thats just my opinion of using the word "spread", people dont have to follow(i hope). I'm talking in context of 0% ez payments (but as Gen-X) has mentioned, might be paying more for it instead, but still no interest charged right? So far i think i have managed my money quite ok, no debts, overdrafts or things like that..
What i'm thinking is:
- if the CC fee can be waived(with min swipes..etc),
- no late payments.
- Rewards/cash rebates.
- 0% interest payment.
- rm50 gst is OK.
Then i can actually save? I dont mind people correcting me, i need to learn from experienced people.

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Added on January 31, 2011, 2:37 pmi got the cash in hand, but i wana use it for savings/investment. Haha, i know its not really a good practice....invest what's extra and what ur prepared to lose right? hehe

This post has been edited by ultra_nyamuk: Jan 31 2011, 02:37 PM

Thank you people! I appreciate all the comments and advices!

Ok! Thanks for that! i understand more already about how CC interest works

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Added on January 31, 2011, 4:52 pmI contacted one OCBC card agent, she mentioned that the bank itself doesnt offer this service but will introduce it in the future(i wonder how long..haha) Yes, there is Flexi Payment Plan but only from selected merchants...which is quite little, ocbc not commonly accepted?


This post has been edited by ultra_nyamuk: Jan 31 2011, 04:52 PM

haha! But really, is not that widely accepted? or isit because its not a local bank? usually maybank a lot of places offer 0% EPP because local bank.

Guys, How about this? It's one of Maybankard Benefits right? Means it includes Maybankard2?

So, how does it work? Same like the FC explained by Gen-x which is charged daily?

This post has been edited by ultra_nyamuk: Feb 2 2011, 12:12 AM

u mean this is on top of your existing interest?

ahh...great! i think i get it. It wont be charged like your other purchases if late payment. but item price x 9% / 12 or 24 = what you have to pay monthly right?

Ok, yeap i plan to pay full for monthly balance. hehe~ thanks! i think im gonna apply maybankard2 tmrw