In fact, I got mine too back in June 2012, for my Premier WMC. When I called the CS, I was told "Sorry, we can't waive it but you can redeem it using rewards points". However, 2 days later, the RM50 was reversed. And no rewards points were deducted.

On the contrary, I believe credit card interest is reducing-balance but compounding. Interest charges are imposed on you on the outstanding balance which you have not paid your card issuer after the payment due date. These charges are usually calculated on a daily basis. With effect from July 2008, interest charges are on a tiered basis based on the repayment record of cardholders.

Another point to note is that if you do not have any unpaid repayments due from the previous month, you will enjoy an interest free period, usually 20 days from the posting date of the transactions (only for purchases). Therefore, if you make partial or minimum payment of the amount due, you will be charged an interest charge for all purchases paid through your card from the day the transactions are posted to your card.

This post has been edited by Explorer II: Oct 16 2012, 02:42 PM

Do you mean you paid 5,000 after due date? Cos you are supposed to be charged interest only on the portion of the balance that you don't pay by the due date. Also, I'm not too sure whether the crediting of your card account is immediate when making payment via CDM.

"Interest for 1st month is 3k x 1.5% = 45, not 2850 x 1.5%", that only applies if you are already carrying a balance over from the previous month. If you did not carry over any balance from the previous month and this is a new transaction, you are supposed to be charged interest only on the portion of the balance that you don't pay by the due date, ie, 2850, assuming you paid the first 150 BEFORE due date.

However, if you are already carrying a balance (ie, you did not settle the previous month's outstanding balance before due date), you will be charged an interest charge for all SUBSEQUENT purchases paid through your card FROM THE DAY THE TRANSACTIONS ARE POSTED to your card.

This post has been edited by Explorer II: Oct 16 2012, 04:01 PM

Really?
Well, you could be right. I have no personal experience there because I always practice paying in full every month, be it my charge card or credit cards, and no bank has yet to earn a single sen of interest from me.
Cheers

Yes. RM200 will be withheld from your card's available credit limit until the actual transaction amount is posted to your card account.

The minimum income requirement for the HSBC Amanah MPower Visa Platinum Credit Card-i is RM36,000 per annum.

You are welcome.

The minimum income requirement for the Citibank Cash Back Platinum is RM40k per annum, not RM48k per annum.