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 Balance Transfer, What is it actually???

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shiroikun
post Nov 4 2011, 04:50 PM

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QUOTE(erry- @ Nov 4 2011, 04:40 PM)
well, cimbclicks is like that.

my old visa and master gold is still there.


Added on November 4, 2011, 4:40 pmand my cancelled visa plat also still there. haha laugh.gif
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Then how we gonna remove it from CCRIS since we already cancelled the card... I wonder how many BT account will show in my CCRIS Report, i never print before laugh.gif
shiroikun
post Dec 5 2011, 02:21 PM

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HSBC 0% BT for 6 months for new applicants still available? Anyone can confirm? Thinking of reapply HSBC after cancelled my card for more than 6 months...
shiroikun
post Dec 6 2011, 07:40 AM

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QUOTE(ronnie @ Dec 5 2011, 10:57 PM)
g
Once you fully paid up a BT, make sure the bank (i.e. CIMB) remove the CCRIS record
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How are you going to check the bank removed ur credit cards that cancelled and BT that fully paid remove from CCRIS? Unless we go BNM and print our CCRIS Report?
shiroikun
post Dec 28 2011, 06:03 PM

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Just did a BT with UOB Bank, What I can say it has a quite good promotion for BT which ending this year end. Don't compare with 0% BT...

Interest charge = 1% of total BT amount for 6 months
Example : Lets say RM10k is the amount you BT, they will charge you RM100 up front, so total you need to pay is RM10,100 for the period of 6 months. You can pay 5% min payment for the whole 6 months, settle it before the 7th month to avoid 1.5% per month interest rate.
shiroikun
post Dec 28 2011, 10:15 PM

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QUOTE(chemistry @ Dec 28 2011, 06:15 PM)
1% 6 months is not bad.
Much better than AmBank  tongue.gif
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Ya very good deal. Lets calculate this way, 1% 6 months, 2% 12 months??

The interest rate is lower than the FD interest rate... can do a BT to UOB and earn some free cash...haha
shiroikun
post Dec 29 2011, 10:17 AM

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QUOTE(Gen-X @ Dec 29 2011, 12:27 AM)
Let's say we earn 1.55% from RM10K, that's RM155. Less the upfront, earn RM55 or 0.55%, but this is not the case since we still got to pay monthly 5% minimum.

Or maybe here's another example, for discussion sake purposes, assuming one has RM10K cash on hand and do BT with UOB.

And assuming 1month FD 3% and pay 5% minimum payment towards BT outstanding

1st month interest approximately 10,000 x 0.03/12 = 25
2nd month, int. approx = 9500 x 0.03/12 = 23.75
3rd month, int approx =  9025 x .0.03/12 = 22.56
4th month, int approx = 8573.75 x 0.03/12 = 21.43
5th month, int approx = 8145.06 x 0.03/12 = 20.36
6th month, int approximately (this is assuming got adequate time to allow the balance to earn interest before Due Date) = 7737.81 x 0.03/12 = 19.34

Add above interest = RM132.44

So end of 6 months, after taking away RM100 upfront, one only earns RM32 or 0.32%!!!!!!

**Edited
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Our Finance Advisor notworthy.gif notworthy.gif notworthy.gif

shiroikun
post Jan 11 2012, 05:14 PM

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QUOTE(temptation1314 @ Jan 11 2012, 04:41 PM)
BSN 0% BT, anyone tried? If this program is not expired, I might want to apply their credit card...
shiroikun
post Jan 16 2012, 12:27 PM

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QUOTE(temptation1314 @ Jan 16 2012, 11:04 AM)
hmm, accepted a calls from HLB offering PL at 4.99%p.a.

Should I take this or do BT? if BT i had to wait for my BSN card to approve first :S Lol.
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BT always having a better rate than PL...
shiroikun
post Jan 16 2012, 04:01 PM

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QUOTE(ronnie @ Jan 16 2012, 03:10 PM)
OMG !!! There's no harm in applying BT.
When CIMB see alot of requests, maybe they may bring the 6-month 0% BT program back to live
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QUOTE(babypao @ Jan 16 2012, 03:49 PM)
Haha.. No harm to try tongue.gif
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Most likely both of you will get rejected, haha
shiroikun
post Jan 16 2012, 06:02 PM

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QUOTE(kelvintkw87 @ Jan 16 2012, 04:50 PM)
Bro may I know what BT is this? Sounds very good!

So far I've seen the best is the Lifetime 5.99% p.a. BT program, which is already very good. Service was fast and efficient..

Seems like HLB is getting better after the merger.
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5.99% actually it is very standard BT interest rate across all banks, the main idea that attract you would be the LIFE TIME words. You can get 5.99 for SCB, UOB, MBF etc.

From my POV, the period is not a big issue, we can always transfer the balance from that BT that going to expired to another credit card and continue enjoy the lower interest rate.

If you have citibank credit card, I think citibank BT is quite worth it. 3.99% p/a for 9 months = 0.3325% per month only, far better than HLB 5.99% p/a = 0.5% per month.

Additional, If you compare to the respond of the service. I can tell you that citibank only take 3 working days for the BT to credit to your credit card.

If you call up the CS for BT on morning, next morning you can see the BT amount charge to your credit card, the next day the money already credited in your other Credit card...

This post has been edited by shiroikun: Jan 16 2012, 06:05 PM
shiroikun
post Jan 16 2012, 11:13 PM

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QUOTE(pisang @ Jan 16 2012, 08:14 PM)
HLB credit the $$ to your saving account. Citibank credits the $$ to your Credit card account, rite?

The advantage for HLB is you can withdraw $$ cash.
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HLB can be BT to a Saving Account or Credit card, both can be done.

QUOTE(temptation1314 @ Jan 16 2012, 09:52 PM)
Gosh, luckly I asked more about the calls I received earlier.
The 4.99% PL was not actually PL. The money taken are based on your CC limit. doh.gif

Lucky I never agreed to it.
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Then I don't think it has any special promotion...haha
shiroikun
post Jan 17 2012, 11:47 AM

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QUOTE(gerrardling @ Jan 17 2012, 11:32 AM)
Just found out that it is not 2% for 2 years. It is 4% upfront for 2 years and it is installment type
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If it is an installment type then it is not so good, high commitment and no rebate for early settlement.

I get the same BT rate from UOB but it is 1% for 6 months, charge upfront but 1 thing different is you can pay minimum payment for the first 5 months and settle it at the 6th month
shiroikun
post Jan 18 2012, 12:56 AM

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QUOTE(FirezZ @ Jan 18 2012, 12:22 AM)
Just checking / need some advices....
going to clear off my outstanding charges (my ccard) but i was thinking...
If i settle up my due payment directly, I am still holding the card but if i am about the do BT... i am seeing the AMbank BT... it has few items up as free gift including the eyephone....

http://www.ambankgroup.com/en/Promotions/C...-QuickCash.aspx

additional charges of 8.99 % to be imposed AND if the payment is settled within the time frame.. additional rm 100 is to be charged as well ..
looking at the calculation .. rm 1K .. in exchange with 2 phones..... sound better to do BT ?

this may sound silly, as we are using 1 K to actually "getting those phones for FREE" but... even if i am about to sell out these phones.. i should be in win / +ve side ?
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Any mininum amount for BT to qualify? Is this a confirmed gift or first xxx customer only able to get?

Can't view the T & C , Application form from their web

This post has been edited by shiroikun: Jan 18 2012, 01:01 AM
shiroikun
post Jan 18 2012, 07:30 AM

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QUOTE(FirezZ @ Jan 18 2012, 02:06 AM)
on the other hanbd of this BT...

http://www.ambankgroup.com/en/Promotions/C...rQuickCash.aspx

it is a guaranteed gift... but looking at the gift.. def iphone would be more interesting tongue.gif
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Read carefully on the T & C, bill over 36 months, meaning you need to choose 36months in order to qualify.
shiroikun
post Jan 28 2012, 07:35 AM

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QUOTE(digilife @ Jan 28 2012, 05:34 AM)
any 0% promo BT available among Stanchart,HSBC,MBF,HongLeong,MBB or CiTi ?

thanks
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The answer is NO NO NO NO NO...hahaha
shiroikun
post Feb 11 2012, 08:51 AM

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QUOTE(arsenal @ Feb 11 2012, 12:30 AM)
let me ask her...you need to be citibank holder to get this rate..apparently selected customers only.
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I want to do a BT too if it is 0%. Am i eligible? lol
shiroikun
post Feb 23 2012, 05:36 PM

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QUOTE(pisang @ Feb 22 2012, 11:09 PM)
can. but you will end up kena panalty for early full settlement.

the detail i can't recall... but you must pay RM50 min. per month. To make the calculation easy, just keep RM50 x 6 in the account. the interest charge is really very minimun la.. 

don't take the risk (panalty RM100), unless you are very sure about it.  Keeping RM300 in the account is very safe method.
rclxms.gif
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Recently HLB have special BT promo which allow you to do BT to transfer to other bank credit card or saving account with 0.5% per month until you fully settle the BT amount instead of 6 months. Additional, there is no early settlement charges, you can fully settle it anytime but this promo going to expired by end of this month.
shiroikun
post Feb 28 2012, 02:51 PM

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QUOTE(digilife @ Feb 28 2012, 02:20 PM)
i just received a call from HLB abt BT , They are giving 0.5% / mth , lifetime , can settle anytime...........

maximum 25K
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This promotion only valid until end of this month and the amount you can BT up to 90% of your CL
shiroikun
post Mar 8 2012, 12:01 PM

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QUOTE(MGM @ Mar 8 2012, 11:42 AM)
Need advice:

Say my MBB Amex statement balance on 3/3/12 is rm900.
but the current balance is RM3000 (8/3/12) (inc. statement bal of rm900).
Can I still do a BT to Citibank by phone (only need to provide acc# and amount) for the amount of RM3000 instead of RM900.
Due date to pay MBB is 23/3/12.
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Yes you can. Just tell the citi banker to help you BT RM3000
shiroikun
post Mar 18 2012, 12:51 PM

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Just want to share out on MBF lastest balance program.

- You can only transfer maximum of 80% of your credit limit
- 5.99% will be charge up front (1 time only)
- 3 type of repayment depends on your BT amount
a) RM1,000 - RM12,000 - replyment of RM99 per month
b) RM 13,000 - RM17,000 - repayment of RM199 per month
c) RM17,000 above - repayment of RM299 per month
the period of the repayment is your total BT amount + 5.99% divide by RM99/RM199/RM299 depends on which category you fall into.

- The repayment period may more than 10 years with only 5.99% interest

- 1 more T & C which is you must swipe RM300 per month to enjoy 0% of charge of the particular month else you will be charge the retail interest % base on individual

- No additional account created, it will credit the installment amount to your CC month

Any comments?





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