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 Balance Transfer, What is it actually???

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jasontoh
post Jan 10 2011, 02:32 PM

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QUOTE(donpapachino @ Dec 21 2010, 06:45 AM)
not sure until that detail n i didnt call the other bank. it is stated on the monthly statement. so i believed, it is shorter because need time to clear the cheque also.
no new account, n the instalment will be part of ur outstanding.

for example if ur outstanding for the month is 1k.

n assume u BT RM2400 for 12 months,

1st month BT: 1000 + 200

so ur total outstanding becomes 1200. it becomes part of ur acc already.
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14 days kind of tight don't you think? Is it 14 working days or include weekends? My statement is currently due 12th, and it was approved on the 6th. So do you think I should wait or should I just bank in the money??
erry-
post Jan 10 2011, 06:03 PM

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QUOTE(lawsh @ Jan 10 2011, 11:54 AM)
no interest charges lar, not no need pay sweat.gif
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i'm replying to question "any processing/admin fees?" so it is "no need to pay any processing/admin fee" sweat.gif

QUOTE(teddie @ Jan 10 2011, 11:52 AM)
hi guys, is it possible to transfer statement amount of 4500 to a card which is having 5700 availble credit ? or it is better to apply for credit limit increase before transfer?
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yes its possible.
nokiaXP
post Jan 10 2011, 06:59 PM

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QUOTE(jasontoh @ Jan 10 2011, 02:32 PM)
14 days kind of tight don't you think? Is it 14 working days or include weekends? My statement is currently due 12th, and it was approved on the 6th. So do you think I should wait or should I just bank in the money??
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BT it will show in others acc.Not same as your cc acc.
gerrardling
post Jan 11 2011, 10:14 AM

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which bank offer the best BT nowadays ? mbb, cimb, what else ?
leongal
post Jan 11 2011, 10:28 AM

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QUOTE(gerrardling @ Jan 11 2011, 10:14 AM)
which bank offer the best BT nowadays ? mbb, cimb, what else ?
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it depends on your time frame , i.e. how long you want the BT be
gerrardling
post Jan 11 2011, 10:30 AM

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around 6 months and 12 months
leongal
post Jan 11 2011, 10:38 AM

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QUOTE(gerrardling @ Jan 11 2011, 10:30 AM)
around 6 months and 12 months
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i think 6 months - will be direct access
chemistry
post Jan 11 2011, 01:49 PM

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QUOTE(gerrardling @ Jan 11 2011, 10:14 AM)
which bank offer the best BT nowadays ? mbb, cimb, what else ?
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Alliance, BSN
jasontoh
post Jan 11 2011, 05:15 PM

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QUOTE(nokiaXP @ Jan 10 2011, 06:59 PM)
BT it will show in others acc.Not same as your cc acc.
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I know, I checked with my statement as well to see the approval date. Anyway, today updated already. Phew.
prempenang
post Jan 12 2011, 11:47 PM

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is the cimb 0% 6 month BT still available for this yr?
or already ended?
SUSDavid83
post Jan 12 2011, 11:48 PM

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QUOTE(prempenang @ Jan 12 2011, 11:47 PM)
is the cimb 0% 6 month BT still available for this yr?
or already ended?
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Extended to 30th June 2011.
prempenang
post Jan 12 2011, 11:53 PM

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will they approve a 4th bt application? since the other 3 still paying?
SUSDavid83
post Jan 12 2011, 11:57 PM

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QUOTE(prempenang @ Jan 12 2011, 11:53 PM)
will they approve a 4th bt application? since the other 3 still paying?
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Why not as long as your CC have sufficient limit for the next transfer.
ericpires
post Jan 13 2011, 09:13 AM

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If 12 mth plan for a Balance transfer, izzit better to go for it in CIMB or Alliance? just in case im scared im not able to clear the bill in 6 mths plan
SUSDavid83
post Jan 13 2011, 09:14 AM

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QUOTE(ericpires @ Jan 13 2011, 09:13 AM)
If 12 mth plan for a Balance transfer, izzit better to go for it in CIMB or Alliance? just in case im scared im not able to clear the bill in 6 mths plan
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MBB is better since it's 0%. Not sure about Alliance.

CIMB 12-month plan will charge 1%.
ericpires
post Jan 13 2011, 09:21 AM

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QUOTE(David83 @ Jan 13 2011, 09:14 AM)
MBB is better since it's 0%. Not sure about Alliance.

CIMB 12-month plan will charge 1%.
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So lets say if transfer to MBB? They will not give me a credit card to use and its just considered a loan repayment? or izzit better to stick to my current bank to slowly pay off and still got cc to use?
SUSDavid83
post Jan 13 2011, 09:34 AM

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QUOTE(ericpires @ Jan 13 2011, 09:21 AM)
So lets say if transfer to MBB? They will not give me a credit card to use and its just considered a loan repayment? or izzit better to stick to my current bank to slowly pay off and still got cc to use?
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Before you can BT to a specific bank, you need a CC from that bank first.

Otherwise, you cannot perform BT.

Sorry for the confusion.

This post has been edited by David83: Jan 14 2011, 12:12 PM
gerrardling
post Jan 14 2011, 12:00 PM

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how long does it take for pbb to approve balance transfer ?

erry-
post Jan 14 2011, 10:55 PM

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QUOTE(gerrardling @ Jan 11 2011, 10:14 AM)
which bank offer the best BT nowadays ? mbb, cimb, what else ?
*
QUOTE(ericpires @ Jan 13 2011, 09:13 AM)
If 12 mth plan for a Balance transfer, izzit better to go for it in CIMB or Alliance? just in case im scared im not able to clear the bill in 6 mths plan
*
for 12 months - its mbb, amex and alliance (alliance for current card holder only). its 0% fee.

for 6 months - cimb and pbb. also 0% fee.

cimb 12 months got 1% fee.
pbb 12 months got 1.5% fee.

QUOTE(prempenang @ Jan 12 2011, 11:53 PM)
will they approve a 4th bt application? since the other 3 still paying?
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as long as ur CL available is higher than the BT amount, no problem.

QUOTE(ericpires @ Jan 13 2011, 09:21 AM)
So lets say if transfer to MBB? They will not give me a credit card to use and its just considered a loan repayment? or izzit better to stick to my current bank to slowly pay off and still got cc to use?
*
u need to apply the credit card 1st before can apply BT.

after the BT approved, its up2u want to use the card or not.
if u want to consider the BT as a loan repayment, so dont use the card.
but u still need to pay GST and annual fee (if applicable).

This post has been edited by erry-: Jan 14 2011, 10:57 PM
pink_hippo
post Jan 16 2011, 02:15 PM

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QUOTE(erry- @ Jan 14 2011, 10:55 PM)
for 12 months - its mbb, amex and alliance (alliance for current card holder only). its 0% fee.

for 6 months - cimb and pbb. also 0% fee.

cimb 12 months got 1% fee.
pbb 12 months got 1.5% fee.

as long as ur CL available is higher than the BT amount, no problem.

u need to apply the credit card 1st before can apply BT.

after the BT approved, its up2u want to use the card or not.
if u want to consider the BT as a loan repayment, so dont use the card.
but u still need to pay GST and annual fee (if applicable).
*
I read from Maybank website and saw there's 0% for 12 months plan and 0% processing/handling fee for balance transfer.
The promotion will end in April 2011. May i know if anyone has transferred before? I'm thinking to extend the credit term to manage my cashflows.

http://www.maybank2u.com.my/mbb_info/m2u/p...sonal/CRD-Cards

Any advise please? Thanks biggrin.gif
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