A little secretz... most of the banks have the hierarchy of knocking off the BT amount 1st. i.e. highest percentage of knock off would go to the BT amount first, then cash, follow last by the normal retail.

eg: maybe 50%, 30%, 20%. Am not sure about the actual percentage chunk.

I could be wrong though, so if any others working in this line can clarify, it would be better.

MBB BT promo

Details: http://www.maybank2u.com.my/WebBank/BTBackpack.pdf

guys... thanks a lot for all kind feedback.. 1 more q pls, my cimb CC now is already 4.6K , i wanted to BT to other bank's CC.. any good CC/Bank with the lowest interest rates and got free gift? haha.. (free gift not necessary lah..kiddin)..

thanks again..

hi, i have a query here..
If my credit limit is RM8k, with RM0 out standing.
What is the maximum BT amount I can make? 100% of my credit limit or less than tat?

less than that, usually about 80-90% of your CL.

hi all,
please enlighten me the following :

1) which bank offers 0% interest BT ? how many months interest free ?

2) which bank has no handling fee ?

3) which bank give free gift for BT ? What gifts?

Thanks !

1, CIMB 6 months, MBB 3 months & OCBC (Titanium New card holder only) period can't remember.
2. CIMB, MBB and OCBC (for new card holders only)
3) AMBANK, but forget about it as the interest you pay is more the worth of the free gift.

This post has been edited by Gen-X: Sep 7 2010, 03:29 AM

about BT, what's the max amount i can transfer from 1 bank to another ? Can i BT something like 80K ? i got money to pay off but i want to take advantage of interest free. Will this affect my financial track record ?

This depends on the individual bank's policies. Generally, as long as you have the available limit, even RM800K should not be a problem

1) Direct Access (6 mths 0%, 12 months 1%), Public Bank (6 mths 0%, 12mths 1.5%)
2) both also ZERO handling fees
3) i went tropicana city mall applied the Public Bank CC, free a tabung uji.... Direct Access gives 2GB thumb drive....

good luck...

likkylooq,
FYI also.. for my 1st answer

but when u applied for the credit card we already incurr RM50 gov tax...not worth if u only do BT of RM2500 and below

Public Bank has RM 60 cash back... this is more than enough to cover ur 1st year RM 50 gov tax...
Direct Access I'm not sure..

I believe most of the banks are giving 'rebate' in order to offset the RM 50 GST....

cheers.

i saw OCBC brochure 0% interest for 6 months. let say i do 50K BT from Hong Leong to OCBC.
1) That means no interest for 6 months ?
2) Do i need to pay monthly installment to OCBC during these 6 months ?
3) can i make new purchase by using OCBC card during these 6 months ? If yes, will OCBC charge new interest ? Coz i haven't settled the BT yet.

Apology for asking such coz i m new to BT

1, Yes no interest for 6 months.
2, You only need to pay the minimum 5% outstanding balance monthly.
3. Yes you may use the card for transactions for balance credit not utilized and no interest will be imposed if you settle in full.

Generally, a separate BT account will be assigned to you.

in this case i can do 50K BT from my existing bank to OCBC for 6 months, then from OCBC to CIMB for another 6 mths, then from CIMB to Public Bank for 6 months again, and then from Public Bank to Maybank for 3 months. i only pay min payment every month. no interest charge and no handling fee. my 50K will be put in FD to earn interest. so good meh ?

Not sure you can do BT to BT account. Also note that BT 0% offer is not a permanent feature i.e. CIMB BT 0% ends 31/12/10. Also as mentioned, you still need to pay 5% every month.

Anyway, you try out and report here lah if can do BT for BT account.

This post has been edited by Gen-X: Sep 8 2010, 10:31 PM

BT no interest charge means if you pay full amount each month, then there is no interest charges to the outstanding balance.
eg: you do 60k BT for 6 months, so each month need to pay 10k. If you pay 10k per month, the interest for the balance (50k) is free

but you seems to think that you can only pay the min 5% right, and get no interest charge ? You can do that, but the balance 9500, the bank will charge you 17.5%. (RM138)

So to those who do BT but didn't pay full amount, you're actually paying more interest than the 1st bank interest ie: 13.5% (if your payment is good for past 12mths)

If there is anyone reading this and you've done Citibank BT, I laugh at you, ha ha. You got time and excel, try to count it out. It is not worth the hassle. If you happen to take Citibank BT but didn't pay full amount, then me and Citibank will laugh even harder as you're paying more than your initial cc interest (13.5%)

This post has been edited by inspiron: Sep 9 2010, 05:18 AM

CIMB Direct Access only required 5% payment each month, on the 6th month only u need to settle your BT amount. Interest will impose from 7th month onwards

You can do a BT to another BT. My friend has done it from OCBC to Maybank (6 months) & back to OCBC (12 months) again.

This is indeed interesting, BT from BT account. Thanks for the info Bro.