Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsBalance Transfer, What is it actually???
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 Aug 13 2009, 01:14 PM
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Senior Member
696 posts Joined: Nov 2005 From: Ipoh, Selangor, KL   
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QUOTE(shanelai @ Aug 12 2009, 05:26 PM) Ic.. Why dont she try to apply other bank BT? although it is higher but it is definitely lower than CC interest right? Standchart & RHB is balance transfer.But their rates is higher compared to Maybank.So she thought of merging 2creditcards into this Maybank so she no need to travel 2banks everymonth just to pay off the debts. |
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Aug 13 2009, 02:07 PM
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Junior Member
451 posts Joined: Jan 2006 
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if i do balance transfer, let say 24 months plan, do i have to pay equally for 24 months or is it at least 5%?
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Aug 13 2009, 03:38 PM
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Senior Member
696 posts Joined: Nov 2005 From: Ipoh, Selangor, KL
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QUOTE(azam_halim @ Aug 13 2009, 02:07 PM) if i do balance transfer, let say 24 months plan, do i have to pay equally for 24 months or is it at least 5%? U need to pay equally.U may pay 5% but the balance they will charge normal credit card interest.Which is 18% per annum. |
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Aug 13 2009, 09:54 PM
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Junior Member
252 posts Joined: Jul 2008
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QUOTE(evilcantona @ Aug 11 2009, 11:38 PM) Balance transfer is tranfer ur outstanding from other bank... wanna ask...Example: Ambank Balance Transfer -U have 4k outstanding from Citibank u transfer to ambank, -After transfer to Ambank ur citibank is clear -So now u hutang ambank but with a lower interest -so u just pay to ambank rm4000 + interest 8.99pa in 2years/24mth with no admin fee or processing fee and u get handphone for rm4000 transfer.. if u 1 cash money just do quickcash ambank will bank in $$ to ur sa or c account condition same as balance transfer hope this help...  so i cant use my credit during this time?.. |
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Aug 16 2009, 09:53 PM
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Junior Member
65 posts Joined: Jul 2009 From: KL
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QUOTE(Noyoudontcare @ Aug 13 2009, 09:54 PM) wanna ask... still can use...let say u do balance transfer 8k but the card limit is 10k, so u still have 2k balance to useso i cant use my credit during this time?.. |
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Aug 22 2009, 09:39 PM
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Senior Member
878 posts Joined: Jan 2003 From: KL
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so which is the best bank to do BT now?
any comparison chart?  |
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Aug 23 2009, 02:55 AM
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Elite
8,601 posts Joined: Jan 2003 From: KL
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QUOTE(xphossis @ Aug 22 2009, 09:39 PM) so which is the best bank to do BT now? click on my signature below, wrote it few months back. Lowest BT rate for now is from Public Bank. CIMB 0% BT 6 months is for new card members for World MC.any comparison chart? This post has been edited by Gen-X: Aug 23 2009, 03:37 AM |
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Aug 23 2009, 11:34 PM
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Senior Member
696 posts Joined: Nov 2005 From: Ipoh, Selangor, KL
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QUOTE(xphossis @ Aug 22 2009, 09:39 PM) so which is the best bank to do BT now? I checked out the other day and i found MBB is the lowest.U may check with them again..any comparison chart? |
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Aug 24 2009, 12:25 AM
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Senior Member
878 posts Joined: Jan 2003 From: KL
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Thanks guys!
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Sep 5 2009, 11:17 PM
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Junior Member
157 posts Joined: Aug 2008 From: Seri Kembangan, Selangor
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Hi,
I am currently a CIMB Direct Access Mastercard holder with outstanding of about 11k. Is it possible to do a Balance Transfer with the entire outstanding from this credit card to a new Petronas CIMB Mastercard? Yes I know it is the same bank, but it is convenient for me. My problem is the compounding interest finance charges of about RM150 every month, think it is such a waste to pay for this every single month. I also would like to achieve a bit of financial independence of this debt by March next year. |
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Sep 6 2009, 11:23 AM
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Junior Member
640 posts Joined: Apr 2007 From: X-Mansion, Penang
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Try Public Bank with one time admin charges. The BT amount will be repaid in equal repayment over the choosen period.
http://www.pbebank.com/en/en_content/personal/cards/bt8.html |
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Sep 6 2009, 11:45 AM
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Senior Member
558 posts Joined: Jan 2003 From: HELL
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QUOTE(DinKnight @ Sep 5 2009, 11:17 PM) Hi, I don't think you can get 2 credit cards from the same bank.I am currently a CIMB Direct Access Mastercard holder with outstanding of about 11k. Is it possible to do a Balance Transfer with the entire outstanding from this credit card to a new Petronas CIMB Mastercard? Yes I know it is the same bank, but it is convenient for me. My problem is the compounding interest finance charges of about RM150 every month, think it is such a waste to pay for this every single month. I also would like to achieve a bit of financial independence of this debt by March next year. If you are able to settle 11k by March next year, then you are not paying RM150 every month. The interest will be less than that figure but the problem is are you able to settle it in that period? If yes then you could try with Public Bank balance transfer which charge you 1.5% for 6 months installments. RM165 interest for 6 months. |
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Sep 7 2009, 01:44 AM
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Junior Member
157 posts Joined: Aug 2008 From: Seri Kembangan, Selangor
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thanks for the advice
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Sep 7 2009, 08:31 PM
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Junior Member
119 posts Joined: Apr 2008
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QUOTE(Gen-X @ Aug 23 2009, 02:55 AM) click on my signature below, wrote it few months back. Lowest BT rate for now is from Public Bank. CIMB 0% BT 6 months is for new card members for World MC. good info u got there bro. thx |
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Sep 8 2009, 01:51 PM
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Senior Member
4,299 posts Joined: Sep 2006 From: Your girlfriend's bed
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CIMB credit card now offers 6-month zero interest balance transfer. i just applied
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Oct 26 2009, 01:54 PM
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Senior Member
645 posts Joined: Dec 2005 From: -----Somewhere Down to Earth------- 
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hi guys,
i manage to do a balance transfer,and i have found out PB has a plan comeout with one time interest charge upfront with 2.5% 12 month do it mean that..No interest will be chargeable on everymonth? if i took up this plan? if i pay for the Fix amount. (correct me if i am wrong) beside any other bank plan lower then this interest rate? |
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Oct 26 2009, 02:56 PM
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Senior Member
4,299 posts Joined: Sep 2006 From: Your girlfriend's bed
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CIMB offers 6-month 0% balance transfer
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Nov 27 2009, 08:40 PM
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Junior Member
10 posts Joined: Nov 2009
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QUOTE(roy918 @ Sep 6 2009, 12:45 PM) I don't think you can get 2 credit cards from the same bank. u can get 2 credit cards or more from 1 bank but most the bank will share the limit, regardless how many cards u owned.If you are able to settle 11k by March next year, then you are not paying RM150 every month. The interest will be less than that figure but the problem is are you able to settle it in that period? If yes then you could try with Public Bank balance transfer which charge you 1.5% for 6 months installments. RM165 interest for 6 months. |
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Nov 27 2009, 09:43 PM
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Senior Member
1,846 posts Joined: Feb 2006 From: Kuching, Sarawak 
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QUOTE(Victor Ng @ Nov 27 2009, 08:40 PM) u can get 2 credit cards or more from 1 bank but most the bank will share the limit, regardless how many cards u owned. True but I noticed that Citibank suddenly change my credit limit for both cards. I don't know how they manage it but it's kind of shocking. |
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Nov 27 2009, 10:12 PM
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Senior Member
3,801 posts Joined: Mar 2007
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QUOTE(myremi @ Nov 27 2009, 09:43 PM) True but I noticed that Citibank suddenly change my credit limit for both cards. I don't know how they manage it but it's kind of shocking. I know what is in your head now. Yippee more spending opportunities? |
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