Thanks to you, otherwise never thought of earning extra pocket money this way.
Now have to crack my head on which CIMB CC to apply. Browse thru their website and the CIMB thread and still can't decide.

You got to note that since you don't have a CIMB card, there's a GST fee of RM50. You got another option - see if you can do 0% installment plan with your MBB card instead.

After you do BT you must have the will and discipline not to spend away the cash in hand

This is very very important message !

This post has been edited by chemistry: Oct 21 2011, 07:25 AM

Was wondering can we email the BT form to Maybank other than fax it in?

Better is fax in, they never check email.

@Zack Styler,

Yes you can email BT form to mbbcardservices@maybank.com.my.
I got two BT application approved within 5 working days, so I can say they do check email.

Thanks for the reply as its not so convenient for me to fax it over..

can BT be done if we got existing installment pyment with other bank that not finish yet?

what do u mean?

1. if BT into card with installment, no problem, as long as have enough credit limit.

2. id BT from card with installment:

2a. some bank, need to inform the bank to terminate the installment, and usually there is early termination installment penalty fee, such as 5% from remaining installment balance or rm50 or rm100 (depends on bank). this is bcoz some bank wont take the BT money received to offset the installment, just the statement balance and then remaining balance will credited so ur next statement have negative balance and availability CL is increased. example is CIMB/DA.

2b. some bank no need to inform coz they will take the BT money received to clear all the balance including installment, but still will charge u with early termination installment penalty fee. example is HSBC.

Performed BT from SCB to Maybank 12 mths 0%.. did on last Monday Oct 17 and paymen was credited into SCB on Friday Oct 21.

Thumb up MBB for that fast service!

Is CIMB 0% balance transfer still having promotion ? or ended ?

until 31st December 2011

ouwh, never know we can actually do BT from MBB to MBB

so I can transfer my MBB AMEX to MBB MasterCard?
I got 4.1k outstanding on my AMEX, I curious about the 0.375% rate, is that one time charges of monthly?
I calculated 4.1k x 0.375%, in total I only pay RM15.38 only for 24 months or is that chargable monthly?

I believe it should be monthly interest, and if you are only paying the min amount then the normal interest rate applies to the outstanding amount.
Am i correct?

Im quite interested because few banks had been rejecting my CC application for BT purpose due to CCRIS record

I hope sifu here can clarify on the rate too, and if doing BT between MBB and MBB, will it take less time?
because my due date on 7/11

As WaCHY-Angel mentioned, yes, interest quoted at 0.375% is monthly interest not annualized. The effective interest is 8.41% per year. For the 36 months, the effective interst rate is 9.22%. So in actual fact, if you are talking about MBB 2 cards where the interest rates is 8.88%, you'll be paying less than doing the MBB 36 months internal transfer!

Click here to my Question page in my blog and go to the last question. You can see a table taken from MBB site showing how much interest you would pay for various amount.

Then go download an App called Credit Card Calculator (which was introduced to us by a fellow LYN member at General Thread) and see how much you need to pay based on 17.5% interest or MBB 2 8.88% interest a month and compared to MBB's table mentioned above. click here to read my article on the App and RHB Easy Money.

This post has been edited by Gen-X: Nov 1 2011, 12:32 PM

guys, if i have a allianze credit card (rm3.5k)credit limit rm4k and i want to BT to cimb credit card for rm2000. can or not?

You mean your Alliance credit limit is 4K and you used 3.5K and you want to BT 2K to CIMB? Yes can, as long your CIMB has enough credit limit.

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Added on November 1, 2011, 4:03 pmPaiseh i cant understand ur blog..

I got question for this internal BT..
Lets say the BT is 2K for 24 months at 0.375%, so repayment is RM83.33/month right?
1. The interest is based on the monthly amount or the whole amount of 2K?
2. And if i only pay the min amount, the balance will be charged normal retail interest which is 8% or 18% if non-mbb2 card?

This post has been edited by WaCKy-Angel: Nov 1 2011, 04:03 PM

u wrong. the 24 months 0.375% is per month, not 1 time!

so the total interest rate is 9% (0.375% x 24 months).

the interest 9% from rm4.1k = rm369.

rm4.1k + rm269 = rm4469.

rm4469/24 = rm186.21 monthly payment.

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Added on November 1, 2011, 5:42 pmagain, 24 months 0.375% is per month, not 1 time!

1. if refer to the table provided by maybank, the interest is charged on the whole amount of rm2k.

but the actual rate is 9% (0.375% x 24 months).

the interest 9% from rm2k = rm180.

rm2k + rm180 = rm2180.

rm2180/24 = rm90.84 monthly payment.

refer attachment below. i edit, highlight, and upload it for u



2. for non-mbk2 card, if u pay min amount, the balance + recent transaction, all will be charged 17.5%. DONT DO THIS!

This post has been edited by erry-: Nov 1 2011, 05:42 PM

1. The amount would be more than RM83.33/month. Click here and read item 10. But to note, the interest is stated as 4.5%, and if not mentioned that means per year. Therefore the amount you need to pay per month is

[RM2K+ (RM2000 x 4.5% x 2 years) ] / 24 months = RM90.83

2. For most if not all BT, the banks consider it as Cash Advance and therefore if you only pay the minimum 5%, you'll be charged interest of 18%. Once again, click here to read T&C item 18.. Therefore it is not 17.5% as mentioned by erry.

erry, very useful info, BUT in order not to mislead others on interest calculations, I just want to highlight that for 12 months above, the way you mentioned interest is incorrect. When one mention interest it is usually based on 12 months and the best way to compare is by using effective interest. The way MBB calculate interest for the internal transfer is UPFRONT of 4.5% per year for the 24 months plan and the 0.375% is just a marketing gimmick.

To AL: Once again, for MBB 24 months, the effective interest is 8.41% (not 9%) which means it is lower than MBB 2 cards 8.88% but the 36 months plan is higher at 9.22%

This post has been edited by Gen-X: Nov 1 2011, 06:52 PM