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 Balance Transfer, What is it actually???

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cannavaro
post Oct 19 2010, 01:05 AM

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QUOTE(David83 @ Oct 18 2010, 09:03 PM)
Within the tenure you transferred, the answer is YES.
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EH! I didn't know this. I'm on their 0% interest 6 months plan and every month I pay in full, as in the amount transferred divided by 6.
cannavaro
post Oct 20 2010, 08:19 PM

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QUOTE(Robin Liew @ Oct 19 2010, 10:43 AM)
are your sure?
meaning the statement divides the BT amount into six installments?
i copied this from cimb terms for BT

An additional account will be created for the purpose of the Approved Balance. The cardmember will receive a separate statement with details of his
Approved Balance. The cardmember will have to make a monthly minimum payment of 5% of the Approved Balance or such outstanding thereof or
RM50, whichever is higher, on the Approved Balance or such outstanding thereof. If the minimum payment is not paid by the third day of the Due Date
each month, the late payment charge of 1% on the total outstanding balance (subject to a minimum of RM5.00 and a maximum of RM50.00) will be
charged on the fourth (4th) day after the Due Date for each month. This late payment charge is imposed by way of liquidated damages and not as a
penalty and shall be payable before, as well as after any court order or judgement.


No no, it's just that I didn't read the T&C properly, so I've been paying in full every month.


Added on October 20, 2010, 8:21 pm
QUOTE(winner @ Oct 19 2010, 09:34 PM)
I know CIMB does not accept BT from another bank.
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Not sure what you're trying to say here but the point of balance transfer IS transferring your debts/outstanding balance from another bank.
I transferred my EONbank balance to CIMB btw

This post has been edited by cannavaro: Oct 20 2010, 08:21 PM
cannavaro
post Dec 6 2010, 05:14 AM

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I am surprised that MBB rejected my BT application. I thought banks love 'stealing' from other banks? laugh.gif

Does it have anything to do with the fact that I have 2 other 0% interest BT going on with my other cards?
- BT Eonbank to CIMB
- BT Eonbank to PB
- BT CIMB to MBB (failed)

I didn't use my latest statement for the application btw, but I don't think it's because of that.
cannavaro
post Dec 8 2010, 07:45 PM

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QUOTE(Numpang @ Dec 8 2010, 11:15 AM)
Hello All,

I have a HSBC 7k, which BT would you recommend? i dont think I can do CIMB cos i already have another card there, so another bank i guess. I only have these 2 cards.

Pls advice.
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Perhaps you can try affinbank. Their interest is the lowest even if you're not in tier 1.
http://www.affinbank.com.my/ccards/BT-Visual-Ad.pdf
cannavaro
post Dec 23 2010, 03:54 PM

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QUOTE(Robin Liew @ Dec 21 2010, 03:27 PM)
wta,

my pb cc bill is now about rm1k++
there is a remaining 3 months of installements (rm1k) on the balance trasfer i did to this pb cc

i am planning to do a BT now to CIMB since this is the last month promo....

can i BT rm3K to cimb even if my pb outstanding is rm1k?
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Nope you can't. I've tried, and was told that I can only transfer the amount on my cc statement.
cannavaro
post Feb 26 2011, 02:29 AM

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QUOTE(carlosandy @ Feb 25 2011, 02:34 PM)
Actually now a day, a lot of confuse word from credit card sales person. Just that day, one std charted bank cc sales call me regaring their BT and MBB BT. They try to come out some confuse word like "separate acc" to said MBB BT is cheating ppl and at the end customer will paid more interest.

For me, tat's no separate accounts even in CIMB BT. All the BT will be under same credit card acc, just CIMB offer special Zero interest for 6 mth BT only. Means that, in the 1st 6 month the BT will not charge any interest as long as customer paid RM50 or 5% whichever is higher. And For MBB BT case, it is more or less like Zero interest instalment planning.

So both BT method oso under same credit acc and NO SEPARATE ACCOUNT. I hope in future sales person NO MORE COME OUT ALL THESE CONFUSE WORD to cheat customer sign up their credit card.
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There is a separate account for CIMB BT.
user posted image

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I also have BT with MBB and PB, and these 2 banks don't create new accounts for the BT.

cannavaro
post Mar 31 2011, 03:20 AM

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QUOTE(ronnie @ Mar 30 2011, 12:50 PM)
OMG !!! you BT to AEON ?
If you paid late, you will be charged interest....
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Eh, isn't that the same for all banks? Late payment = Interest
cannavaro
post Apr 8 2011, 04:35 PM

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QUOTE(winner @ Apr 8 2011, 12:35 PM)
Before the expiry of the 6-month 0% interest BT with CIMB, I have now managed to transfer the outstanding of BT amount from CIMB to Maybank for another 0% interest for 12 months.
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Wow, I didn't know that this is possible.
Since you transfer the CIMB BT to Maybank, did CIMB penalize you for early settlement?
cannavaro
post May 17 2011, 12:22 AM

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QUOTE(princess_autumn87 @ May 16 2011, 12:51 PM)
sorry, just to do a quick check here!

any bank offer 0% interest rate & zero handling fee balance transfer besides than pbb?
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CIMB.
http://www.cimbbank.com.my/index.php?ch=43...k&tpt=cimb_bank

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