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 Balance Transfer, What is it actually???

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MilesAndMore
post Dec 2 2010, 11:35 PM

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QUOTE(Gen-X @ Dec 2 2010, 10:14 PM)
Direct Access or Public Bank offer 0% for 6 months.
HSBC is offering 0% BT for 6 months too. Absolutely no upfront fee as well. Deal expires in mid-January 2011. I am however, not sure if this offer is applicable to call HSBC credit card holders or just certain credit card holders only.

MilesAndMore
post Dec 17 2010, 11:45 PM

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Anyone knows if i can make a balance transfer to the same card twice ? HSBC is currently offering a 0% BT with no upfront fee. I am thinking to do a BT from my Citibank VISA. I have two Citibank credit cards. Both come with different statement date.
MilesAndMore
post Dec 18 2010, 12:59 PM

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QUOTE(David83 @ Dec 18 2010, 12:14 AM)
I think that shouldn't be a problem as long as you have sufficient credit limit.
QUOTE(winner @ Dec 18 2010, 05:03 AM)
For CIMB/DA, it can be done. I had done a BT of RM80,000 (partial downpayment for a new house via SCB cc) to DA in October. I have just submitted another BT application for an amount of approximately RM10,000 from OCBC to DA. I have money reserved in FD form but since I can get 0% interest for 6 months, there is no harm to let my money grows further and delay the payment.
Thanks. Gonna try ...


MilesAndMore
post Dec 21 2010, 06:31 PM

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Any idea if we must submit our latest credit card statement from the bank we intend to do a BT from ? I am talking about HSBC. The 0% interest 6-month BT with HSBC is going to end on 15 Jan 2011. I'm scared that my Citibank statement won't arrive that soon. Might just miss the chance to do a BT to HSBC sad.gif
MilesAndMore
post Dec 21 2010, 08:43 PM

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QUOTE(Gen-X @ Dec 21 2010, 08:26 PM)
David mentioned he used his online statement for BT. However for DA, no need latest statement, I was also afraid that I'll get my OCBC statement late so fax the previous statement to DA and they approve it. What DA CS told me is that they just want Statement to verify the card number as filled in the application form.
Oh is it ? I hope HSBC won't be so fussy requiring the latest statement too ... I can't show them my online statement because i still have no access to Citibank online until today. Yes. I received the first Citibank credit card back in early October but have yet to received the damn PIN vmad.gif Requested for new PIN three times already but somehow all three PIN just vanished into thin air.


QUOTE(Gen-X @ Dec 21 2010, 08:26 PM)
Call HSBC lah to confirm.
Yes. I am going to call them later tonight.


MilesAndMore
post Dec 22 2010, 02:03 PM

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QUOTE(David83 @ Dec 22 2010, 12:41 PM)
Yes it is true. You can do that by paying min amount on the first few months.
ohmy.gif So generous of CIMB Bank cool2.gif

MilesAndMore
post Dec 23 2010, 06:30 PM

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QUOTE(gerrardling @ Dec 23 2010, 04:33 PM)
how about the BT for citibank ? are they doing any promotion now ?
No promotion now.
MilesAndMore
post Dec 29 2010, 08:50 PM

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QUOTE(princezs @ Dec 29 2010, 07:50 PM)
BT to HSBC no need the citibank statement o.
Oh, really ? This is great if true.
MilesAndMore
post Jan 5 2011, 03:14 PM

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I just tried to do a BT from my Citibank VISA to my HSBC MasterCard. The 0% BT offer apparently is offered only to select customers and one must sign up for this offer over the phone. No credit card statement needs to be submitted and you can request for any amount you like. Let say my Citibank VISA current outstanding is only RM1000, i can request for RM5000 BT or even more.

Anyway, when the officer went through the T&C of this 0% BT, i found out that my current on-going 0% IPP will be slapped with an interest of 5%. I do not know why though. Currently, i have two on-going 0% IPP with my HSBC MasterCard. I was shocked to hear this and immediately asked the officer to cancel the application. Early this morning i read on Malay Mail online that someone complained about HSBC 0% BT program that it comes with hidden charges. This is probably it.
MilesAndMore
post Jan 19 2011, 01:33 PM

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QUOTE(zcatz @ Jan 19 2011, 12:08 PM)
any processing fee/ upfront charges?
*
QUOTE(cyang81 @ Jan 19 2011, 01:18 PM)
I received SMS from HSBC on this offer. No upfront/processing fees.
But you can only transfer up to 50 or 60% of your available credit limit.
*
Don't sign up for their 0% 6-month BT if you have an ongoing 0% IPP in your HSBC credit card. Call them in and they will explain to you.

MilesAndMore
post Jan 19 2011, 06:21 PM

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QUOTE(Gen-X @ Jan 19 2011, 04:35 PM)
Pay attention to statement above from a HSBC guy himself. If you ask me forget about HSBC BT, unless you want some thrill and headache later on.
I couldn't agree more !

MilesAndMore
post Feb 7 2011, 06:52 PM

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QUOTE(Gen-X @ Feb 7 2011, 04:02 PM)
come to think of it, must show the above example in my blog, good for another post.
Do one on Maybank BT too please. Am thinking of doing a BT to Maybank from my HSBC MasterCard but 0% BT from every banks seem work a little bit differently. So i am still kind of puzzled how does Maybank's one work. Thank you biggrin.gif

MilesAndMore
post Feb 8 2011, 03:55 PM

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QUOTE(Gen-X @ Feb 7 2011, 09:14 PM)

I am going to do a BT from my Citibank VISA to Maybankard 2 VISA by next week ... Hopefully there won't be any delay in getting my Citibank credit card statement.

MilesAndMore
post Feb 12 2011, 10:14 AM

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Sent in my BT application to Maybank just 2 days ago. Let see how long does it take for them to process it.
MilesAndMore
post Feb 12 2011, 01:39 PM

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QUOTE(bingozero @ Feb 12 2011, 10:54 AM)
Do update to us because I plan BT from citi to tiger after my citi statement is arrive biggrin.gif
Sure smile.gif

By the way, my Citibank statement hasn't arrived either. But i can already view my statement in PDF file via CitiOnline. I printed the statement out from there smile.gif

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post Feb 16 2011, 11:15 PM

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Faxed my balance transfer application form to Maybank last Thursday. Just called their CS hotline a few minutes ago and was told that the application form is registered into the system just today doh.gif
MilesAndMore
post Feb 17 2011, 12:04 AM

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QUOTE(ronnie @ Feb 16 2011, 11:35 PM)
When you have 3 CC listed for Maybank and do 12-month BT, which CC account will it be tagged to ?
You are required to fill in the particular Maybank credit card numbers that you want to do a BT to in the application form. So it is up to you.

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post Feb 17 2011, 09:22 AM

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QUOTE(jasontoh @ Feb 17 2011, 08:46 AM)
I did mention Maybank BT process is quite long right? Anyway, the application form registered in the system could mean that it is already approved right? I can only see the deduction in another credit card only at the very last minute. So, you better keep following up.
No. The guy told me it is still in processing. Worst case scenario ? Call them up to cancel the BT application and pay the bill myself by the end of next week.

MilesAndMore
post Feb 26 2011, 12:43 AM

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QUOTE(ronnie @ Feb 26 2011, 12:30 AM)
Are we allowed to BT amount larger than amount due on the CC ?
For HSBC BT, the answer is yes.

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post Mar 3 2011, 01:26 AM

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QUOTE(gerrardling @ Mar 2 2011, 11:32 AM)
MBB how long ? pbb and cimb is quite fast, within one week done adi
Mine took 13 days ... From Citibank to Maybank.


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