But CIMB and CIMD DA website said that the BT promo ends by 30 Apr 2010.

i received the latest cimb brochure that mentioned it has extended.

maybe let me dig out the brochure from my house first and try to upload here ya. teehee...

hi everybody,

i have a few questions...

1. how long will it take to process for balance transfer? 1 day? 1 week?

2. card 1 outstanding balance = rm5k
card 2 oustanding balance = 0
credit limit on both card = rm10k

can i BT from card 1 to card 2 for rm10k so i can get cash rm5k?

thanks in advance..

1. For CIMB DA, it's usually few days within 1 week.

2. You can BT the outstanding amount from card 1 to card 2 provided that both cards are not issued from the same bank. To get RM 5k cash, I cannot get what you meant.

it means that i want to BT based on my credit limit...not outstanding balance...hope u understand...

by the way...thanks for the answer...

I doubt that could be possible.

Even tough it's possible, you won't be able to get the extra amount in term of cash.

which bank have the highest transfer balance? Since my dad max out 20k with his credit card and wants to stop using it without paying the high interest rate.

walau all i know is dont do BT with HSBC.....every month i need to calculate how much i need to pay because dunno which smart alec in hsbc build such stupid system that states the whole BT amt + retail txn as my final amt instead of telling me much exactly i have to pay every mth. For some reason its charging me interest eventho i am paying the supposed amt everymonth. Everymonth i have to call hsbc to waive off the interest because of this.

This month i nearly got a heart attack. A Customer Service from HSBC told me that from June 1st, watever i pay to HSBC will be used to cover my WHOLE BT Amount 1st which is lets say i BT over 20k, all monthly payments made will be deducting ONLY the BT amt. So until i finish paying my BT, my retail transaction will not be deducted and will be charged the normal interest rate which is 17%! i was like shouting at her....ARE U SURE? THen tell me y i do a BT with HSBC for? its like DAYLIGHT robbery lor. She didnt even listen to me and keep toking n toking n toking that its HSBC new rule.
geez....nearly got a heart attack. goodness.....tell me this is not true. Later i call twice again and got confirmation that watever monies i pay to hsbc, will clear my Divided BT amt 1st, then my retail. Not wait until i clear the whole BT 1st. HSBC should really checkup on their customer service manz....telling ppl the wrong info. I nearly cut my card there n there. But i am planning to cut oredi la after i kautim my BT....so dem hectic HSBC making me calculate the amt to pay every month!

It depends on your card limit. It's pretty subjective.

I have posted before that HLB have a "BT" program that allows its members to transfer cash into any local bank savings or current account.

HLB "Balance Transfer" if not mistaken allows you to use up to 70% of your credit limit and you do not need to summit any documents as long as you have adequate credit avaliable. Just call HLB and they can transfer the money into you account. The interest rate is 0.5% per month for 6 months and after that standard rates apply.

Frankly speaking, HLB balance transfer program is like a loan, it is so convenient that you do not need to submit any documents, only set back is make sure you can pay back within 6 months else after that the interest charged will be high. It is good if one needs fund for short term period.

EON bank also used to have a program that is similar Call for Cash.

Maybank also has similar programme called CashTreats but the interest is pretty at 8.88% (even tough lower than usual financial charge for credit cards).

Hello ppl..
I got a question.. Im thinkin of doing balance transfer,
Bank Islam currently offering 0.5% / month / 6% per year.
My question is how long they'll be charging me tht 6% ??izzit 6 months ? 1 year ? or more ??
or will the interest will be back to 17.5% after some period ??
need some clarification here plz...

I believe it's only valid for 12mths(1 year)..in the 13month, it will be back to default interest..

Do read the Terms and Conditions properly BEFORE you apply for anything. It has been stated clearly in T&C item 14.

okay, besides than pbb, cimb, mbb offer 0% bt without handling charges, anyone has any idea which bank offering the same as abovementioned banks????

in my understanding, dat interest only apply to your BT only for the whole period of BT repayment according the contract. if ur contract says, BT rm2000 for 6 months, it means only dat rm2000 will get dat interest. dont mix BT with other new transaction. its different account. if u swipe for another transaction, it will be charge normal interest which i believe 17.5% p.a. some bank will provide different statement, so u can track ur payment whether it is BT or another transaction.

I have the same situation like you. For the past 2 months have to call to their CS and request to waive the interest.

I also have the same issue with UOB BT, lastly I shoot one email to BNM to look at this issue..

Just an advice, next time when doing BT, make sure you choose bank that will create a separate account for BT..if join in one card, you'll end up like us...any retail purchase will not be deducted as long the BT is still outstanding (thus u kene finance charge on the Retail, as Retail purchase consider outstanding like foreverrrrrrr)

Most people BT due to high debt in CC. In conclusion, don't use too much if one cannot afford to pay. Then theres no need for BT. Right?

I not that kind of ppl who spend high debt in CC... just prefer keep cash as much as possible only

If just pay a little bit of interest, but can pay by monthly or increase your personal cash flow, why not