I submit the form @ CIMB Card Centre, which I think they will fax in directly "-___-"

my current outstanding is 4.7k, minimum payment is RM235

I got a Q, if I dont even pay the minumum payment, will I charged for higher interest ?

... you will have black-list record in CCRIS (BNM), and this will affect your future loan/credit application (e.g. credit card, house loan, car loan, personal loan).

I suggest, at least pay the minimum payment.

so if I pay the minumum, 4.7k - 235

4.46k, I will be charged 1.5% of 4.46k right?

I don't think so...depending on your BT plan, say 0% 6mths, then you will not get charge interest as long you pay the minimum...

the calculation I made above is just in case my BT application is unsuccessful before 31/5 which is my due date

for HLB BT, it needs bank statement from other bank credit card or not ?

This post has been edited by gerrardling: May 27 2011, 05:08 PM

No need, everything can be done by just a phone call.

Hi,

I am seriously considering opting for BT since I realised I buta-buta paying so much for bank interest right now. Which is the bank that is offering 0% interest right now?

Thks!

CIMB 6 months @ 0 %

12 months @ 1 %

You seriously need to look at your financial standing first, rather trying to transfer the balance all over the place.

Finally my application for BT from HLB to CIMB has been done.
Everything seems to be pretty easy and quick ..

Should be completed within 5 business days...remember to pay at least the minimum 5% to avoid CC interest.

You mean the based on the separated account created for BT or the ordinary CC account ?

5% minimum for the separated BT account they created for the BT amount.

Noted on that.
I am abit confused with the statement over the CIMBClicks. My scenario are as follow :-

BT Amount :- RM3,900
Applied for 12 months tenure with 1% Charges, by default it should be a total of RM3,939 and divided into 12 months right ?

Monthly commitment :- RM328.25
But how come its stated over there Minimum Payment :- RM195.00

Some trick here, 1% is not upfront 1%...
It is reducing balance , based on your 1% of you outstanding amount

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Added on May 29, 2011, 11:57 pmCIMB kinda tricky here, you will have to pay min amount of your balance transfer... and the outstanding balance will be charged 1% per annum of reducing bal calculation.


This post has been edited by dopp: May 29 2011, 11:57 PM

That's very bad eh ? You still pay 1% p.a. on outstanding amount.
Lucky 6-month @ 0% is still the best. Hope CIMB continue to the program until 31 Dec 2011

For CIMB BT program, does paying 5% to the BT account will increase available CL month-by-month basis ?

yes, your CL will increase with the amount e.g. 5% you pay. but 5 % is not so much ler. hope this answer your question.

I dont really get what you mean,Bro.
Does that means that after paying the minimum amount for about 12 months, the balance will be applied with 1% charges pa and then I will carry on with the payment for the remaining ?

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Added on May 30, 2011, 10:54 amSomehow I feel that even after making the payment to the BT / CC account - the process of revising the available credit limit really take some time compare to other banks.

This post has been edited by pocketcctv: May 30 2011, 10:54 AM