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 Balance Transfer, What is it actually???

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chemistry
post Jun 28 2011, 06:25 PM

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QUOTE(ronnie @ Jun 28 2011, 07:27 AM)
Why would a DirectAccess Premier Plus account be tied to a Direct Access CC ? We get monthly interest too.
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Maybe I misinterpreted the sentence underlined.
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chemistry
post Jul 5 2011, 03:19 AM

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QUOTE(ronnie @ Jul 4 2011, 11:51 PM)
Nope... but why settle earlier ? Put the money in FD better
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because, if BT at a later time, the outstanding amount will fall below 1,000, then cannot re-BT liao. whistling.gif
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post Jul 12 2011, 07:15 PM

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QUOTE(Gen-X @ Jul 12 2011, 07:02 PM)
care to give the link you mentioned? All non Islamic CIMB Credit Cards are eligible for 0% interest 6 months BT plan.
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post Jul 19 2011, 09:00 PM

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QUOTE(cheahcw2003 @ Jul 19 2011, 08:56 PM)
Has anyone think of why bank such as CIMB/PBB/MBB offer this 6 months zero interest free BT? what will they earn if there is no default interest earn? all payments are paid on time by the credit card holder.
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statistic showed that there surely will be some ppl cannot make full settlement by due date.
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post Jul 19 2011, 09:18 PM

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QUOTE(cheahcw2003 @ Jul 19 2011, 08:56 PM)
Has anyone think of why bank such as CIMB/PBB/MBB offer this 6 months zero interest free BT? what will they earn if there is no default interest earn? all payments are paid on time by the credit card holder.
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QUOTE(cheahcw2003 @ Jul 19 2011, 09:12 PM)
there is a cost of fund in the banking industry, i.e. KLIBOR, this is the cost of fund that they need to pay for within the banking industry. With the BT zero interest for 6 months, those who is savvy and discpline in fund management can easily take advantage of it. Can put the money in PNB Funds, Bond Fund or top up OD account to gain the interest difference.
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i think you have answered your own question.
chemistry
post Jul 19 2011, 09:40 PM

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QUOTE(cheahcw2003 @ Jul 19 2011, 09:38 PM)
this is the answer that i can think of, posting here open for discussion...maybe those who are from the banking industry can enligten us. i may not be 100% right.
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but why didn't share your opinion just now?
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post Jul 19 2011, 09:57 PM

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QUOTE(cheahcw2003 @ Jul 19 2011, 09:42 PM)
it is a question cum opinion, not a statement.
sometimes input/feedback from others can inspire you think from other side of the coins. This is what the forum for...
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you come here just to gather information, not sharing information.
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post Jul 20 2011, 12:55 AM

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QUOTE(cheahcw2003 @ Jul 20 2011, 12:52 AM)
aren't i share my opinion? what is wrong for gather info?
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nothing wrong. Just I alone beh song only.
Please continue the discussion, your sharing is interesting.
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post Jul 21 2011, 02:02 AM

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I must change my perception on Maybank's efficiency when handling Balance Transfer!
I emailed all the scanned images of forms and statements to mbbcardservices@maybank.com.my on last saturday (16/7/2011), just three working days, payment already made to recipient bank ! this is even faster than DirectAccess !
chemistry
post Jul 25 2011, 07:45 PM

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QUOTE(gerrardling @ Jul 25 2011, 12:22 PM)
just want to ask, for cimb BT, the amount from each bank must exceed rm1000 ? or the total amounts from all the banks must exceed rm1k ?
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each credit card account must exceed 1k.
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post Jul 25 2011, 10:57 PM

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QUOTE(andyfriends @ Jul 25 2011, 10:48 PM)
jz to check to do bt, instead of waiting for the "actual" statement which wil only be issued at the statement date, can we use the internet printout one which would reflect the amount which we wanna transfer?
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Yes you may do so.
my statements are sent to my hometown each month, I have been using online statement or printscreen image as supporting document attached with the BT form.

Although MBB CS said cardmembers are not allowed to do BT from an existing BT account, I still gave it a try anywya, and it went through laugh.gif
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post Jul 25 2011, 11:15 PM

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QUOTE(andyfriends @ Jul 25 2011, 11:06 PM)
what i asked, was before the statement date, as soon as the transaction is reflected on the account.  possible?
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before the statement date?
I'm afraid cannot.
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post Jul 26 2011, 10:53 PM

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QUOTE(ronnie @ Jul 26 2011, 05:32 PM)
CIMB Balance Transfer approval took only 1 day !!! rclxm9.gif
Form submission : 25 July 2011
BT Approval : 26 July 2011
BT Account shown on CIMBClicks : 26 July 2011
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That was really super fast!
Competition between MBB and CIMB thumbup.gif we the cardmembers are the beneficiaries.
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post Jul 29 2011, 07:12 PM

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QUOTE(kamion @ Jul 29 2011, 07:11 PM)
If I already BT'ed to Maybank card in June, can I now apply for a second BT to Maybank card again if I still have enough credit limit?
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Of course you can.
chemistry
post Aug 11 2011, 07:41 PM

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QUOTE(Titan_Gunners @ Aug 11 2011, 02:42 PM)
Only can BT to MBB2 Visa/ Master only.
If BT from MBB2, Amex & Visa/ Master can be done.
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I beg to differ.
I have done a BT from OCBC to my Maybankard 2Amex recently. Already reflected in the latest statement.
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post Aug 11 2011, 08:24 PM

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QUOTE(alexwsk @ Aug 11 2011, 08:10 PM)
what's the diff if bt to M2 amex or M2 Visa/Master rolleyes.gif
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i have no idea.
But he said one can only BT to MBB Visa/Master, which I do not agree, so I voiced out . biggrin.gif
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post Aug 12 2011, 06:24 PM

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QUOTE(lamode @ Aug 12 2011, 02:30 PM)
did you use the same form to BT to visa/master?
how about the 12 mth 0% interest promo?
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It is the 0% 12 months BT I applied for. Otherwise what other BT do you think I can apply ?
Yup, I used the form for BT to MBB visa/MC, first column of the 16 digit card number is to be filled as "0".
chemistry
post Aug 28 2011, 06:39 PM

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QUOTE(genyou90 @ Aug 28 2011, 03:15 AM)
is not 0% or charge balance transfer...wat i means is convert the total of credit card debt to installment plan....
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If you hold an SCB card, their marketing team will offer you LOW INTEREST RATE CASH ADVANCE.
You may utilize this fund to cover your debts first, then you repay the money to SCB.
chemistry
post Sep 25 2011, 01:36 PM

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QUOTE(lamode @ Sep 25 2011, 01:18 PM)
got one question for MBB BT veteran.
lets say i have 10k CL, that would means i could use max 8k for BT. assume after i have paid few months, and the outstanding balance down to 5k, possible for me to make another 3k BT?

or i have to fully settle the 8k before i can make another BT?
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Yes, you got it right.
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post Oct 16 2011, 10:31 PM

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QUOTE(MGM @ Oct 16 2011, 10:13 PM)
Anyone here has tried the BSN's BT  of 0% for 6 months with min transfer of RM1,000 ?
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Frankly say, I dare not try BSN's service.
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