I need some expert advice me on the Finance Charges ... My statement date is 28th every month ...

For the April statement, the outstanding balance is RM1669.78. Before the duedate, I make RM1000 payment. When the statement for May came, the Finance charges is RM43.23 .. Is that correct calculation..??

I called CS and they said is right ...

17.5% / 365 = daily interest rate ..., 12 days (don't know why 12 days) ... so the calculation is ...

1669.78 * (daily interest *12) = RM43.23 ...

Here is the statement ..

Posting Date Transaction Date Description Debit (RM)
RM Credit (RM)
RM Outstanding Balance
RM
Previous Balance 508.00
17-Apr-2011 17-Apr-2011 0008 PAYMENT THROUGH GIRO-THANK YOU 300.00 208.00
25-Apr-2011 23-Apr-2011 xxxxx 17,495.00 17,703.00
28-Apr-2011 23-Apr-2011 I.PAY PLAN 0/30 17,495.00 35,198.00
28-Apr-2011 28-Apr-2011 I.PAY PLAN 01/30 583.07 35,781.07
28-Apr-2011 28-Apr-2011 CONVERTED TO I.PAYPLAN 17,495.00 18,286.07
28-Apr-2011 28-Apr-2011 xxxxx 874.75 19,160.82
28-Apr-2011 28-Apr-2011 FINANCE CHARGES 3.96 19,164.78



Posting Date Transaction Date Description Debit (RM)
RM Credit (RM)
RM Outstanding Balance
RM
Previous Balance 1,669.78
04-May-2011 01-May-2011 xxxxx 11.00 1,680.78
04-May-2011 02-May-2011 xxxxx 305.00 1,985.78
16-May-2011 16-May-2011 0008 PAYMENT THROUGH GIRO-THANK YOU 1,000.00 985.78
28-May-2011 28-May-2011 I.PAY PLAN 583.17 1,568.95
28-May-2011 28-May-2011 FINANCE CHARGES 43.23 1,612.18

This post has been edited by Felice821: May 30 2011, 04:37 PM

RM1000 is already full payment, CIMB claimed that the previous not full amount charges..

Outstanding RM969.78 need to charge RM43.23?? It's almost 4.5% .. gosh!

I got my Platinum upgraded to Signature ....

I do not request for upgrade. Today when I login to cimbclicks, I notice that my card details has been changed

Annual Income met .. Basic salary not met.

Don't know how long it takes .. RM50 GST not sure wor.. I just paid RM50 GST for my plat .. now need to pay again?

Visa ..