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 Balance Transfer, What is it actually???

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ronnie
post Oct 25 2010, 11:57 AM

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Do we get Treatpoints on the amount if we BT to Maybank ?
Can we early settle the BT amount ?
ronnie
post Nov 17 2010, 10:32 PM

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DA VI = Direct Access Visa Infinite
ronnie
post Dec 16 2010, 11:23 AM

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Anybody manage to subscribe to Maybank's 12-month 0% BT program yet ? Do you get a separate account ?
ronnie
post Dec 29 2010, 02:50 AM

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QUOTE(winner @ Dec 27 2010, 09:40 PM)
I applied for DA's BT via fax on 16/12. DA has approved my application and transfered the money to OCBC on 22/12. This is my second BT with DA since September this year.

I guess CIMB/DA will extend the 0% interest BT again in January.
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CIMB/DA's BT Program has been extended to 30 June 2011 as per http://www.directaccess.com.my/index.php?c...368&tpt=cimb_da
ronnie
post Feb 7 2011, 03:35 PM

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Let's say I Balance Transfer approx RM4200 to CIMB 0% 6-month plan.

Month #1: Mar-2011
Statement balance = RM700
I can pay RM50 (5% minimum)

Month #2: Apr-2011
Statement balance = RM1350 (700+650)
I can pay RM70

Month #3: May-2011
Statement balance = RM1980 (700+1280)
I can pay RM100 (5% minimum)

Month #4: May-2011
Statement balance = RM2580 (700+1880)
I can pay RM130 (5% minimum)

Month #5: June-2011
Statement balance = RM3150 (700+2450)
I can pay RM160 (5% minimum)

Month #6: July-2011
Statement balance = RM3690 (700+2990)
I can pay RM190 (5% minimum)

Month #7: July-2011
Statement balance = RM3500
I can pay RM3500

Is the above scenario correct ?
Will the Statement Date for the CIMB BT account follow the same as CC Statement Date

This post has been edited by ronnie: Feb 7 2011, 03:56 PM
ronnie
post Feb 12 2011, 11:53 AM

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QUOTE(Badakitten @ Feb 12 2011, 11:16 AM)
If we want to BT from CIMB to MB, we need to have credit card at both bank isnt? Currently holding credit card from CIMB only.
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Yes, you need a MBB Credit Card too.
ronnie
post Feb 16 2011, 11:35 PM

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When you have 3 CC listed for Maybank and do 12-month BT, which CC account will it be tagged to ?
ronnie
post Feb 23 2011, 12:26 AM

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QUOTE(gbsters @ Feb 23 2011, 12:23 AM)
hi guys,

im in a bit of a situation and hoping u guys can help me.

I have a HSBC cc with outstanding amount of RM6000 and PBB cc with outstanding amount of RM7000.

So, i wana do a balance transfer with MBB 0% interest free for 1 year but yet have to apply their cc. Thats where the problem occur.
Should i tell the MBB cc customer service that i need at least 15K credit limit for the balance transfer purposes? Is that even possible? And the promotion ended at the end of April....so to apply for new MBB cc and to apply for balance transfer before April...that seems pretty tight.

Or should i just continue paying on the individual cards with the interest without doing a balance transfer for a year? (its dumb but this is the last resort)

So, i hope u guys can help me on this matter. Thank you in advance.

Cheers.
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rclxub.gif shocking.gif You are definitely heading into debt.

You may apply now for the Maybank CC and continue to pay HSBC and PBB... as for 15k CL, it's up to MBB to evaluate your risk profile (VERY RISKY as you owe RM13k now)
ronnie
post Feb 24 2011, 04:19 PM

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Can we use CIMB BT form for Direct Access BT ?
ronnie
post Feb 25 2011, 12:57 PM

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Would 10 working days sufficient for DA Balance Transfer to be approved ?
ronnie
post Feb 26 2011, 12:30 AM

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Are we allowed to BT amount larger than amount due on the CC ?
ronnie
post Feb 26 2011, 01:07 AM

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How about Direct Access... can BT larger than amount due ?
ronnie
post Feb 28 2011, 08:25 AM

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For DA/CIMB BT application, we just submit the front copy of the latest statement, right ?
ronnie
post Feb 28 2011, 08:57 AM

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QUOTE(arsenal @ Feb 28 2011, 08:52 AM)
Yes...but depends on the credit limit that given by CIMB
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As long as the BT amount to DA is less than available CL of my DA CL, right ?
ronnie
post Feb 28 2011, 01:46 PM

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QUOTE(shiroikun @ Feb 28 2011, 11:44 AM)
I would like to BT from my other bank cc to Maybank Credit card, anyone knows the promotion rate for maybank bt now?
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12 months at 0% interest. BT amount is split into 12 equal payments...
ronnie
post Mar 1 2011, 11:58 PM

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Direct Access BT didn't allow me to BT amount larger than the latest CC statement sad.gif

Amount owed: RM950.00
BT Amount : RM1000.00 (minimum per bank)
ronnie
post Mar 2 2011, 12:11 AM

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Upon DA BT approval, how soon will the BT money go into payment of the CC ?
ronnie
post Mar 3 2011, 08:43 AM

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Today I logged on to CIMBClicks and saw my BT account has been created. I faxed the application form on Monday (28-Feb). Now need to wait for the amount to be paid to my other CC.
ronnie
post Mar 3 2011, 12:43 PM

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QUOTE(ashcrimson @ Mar 3 2011, 11:45 AM)
say if i got two credit cards with balance totaled 5k and cash to settle it. is it better to do balance transfer? or settle them at once?
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I use BT to earn tiny interest from FD (think of it like cash-back) with the cash I can use to pay my CC balance.
Again, it's up to you...
Which BT program are you specifically plan to use ?
ronnie
post Mar 5 2011, 10:26 AM

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How long did my Direct Access BT took ?
28-Feb : Faxed application form on Monday (28-Feb)
03-Mar : BT account approved and created in CIMBClicks
04-Mar : IBG BT amount to the CC

Only takes 5 working days rclxms.gif
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