@saksoba

Whatever calculations that you use, you still pay interest to the bank and it is just a matter of some interest or a lot of interest. We have seen a lot of readers rant about bank's high interest rate whereas in actual fact they choose to build debt on their credit card thus they should be ready to bear the consequences.

We have said this repeatedly, banks are not charity and they are a commercial entity which wants to make money, pay rental for their branches, pay bills, pay salary to their workers, etc.

To make life simpler, that's the very reason that we do not encourage anyone to build debts on credit cards. You should treat credit card like cash which is to pay in full every month. No need to confuse yourself, just don't ever build debt using your credit card. If you are and that's a sign that you are living beyond your means already.

Cannot afford to buy something then don't buy and don't act as if you can afford it just because you are holding a credit card.
I personally am not too enthusiastic and don't agree about teaching someone about the interest rate calculations as it's like slowly driving you to your own debt grave. If you want to build debt like this then by all means do so and take your own pain to understand the calculation ... cannot understand then take it as a sign not to build debt like that.

If your debts are accumulating faster than you can pay it, you should reconsider whether it's wise to have any CC at all.

Q: Is it still necessary to transfer Treatspoints from old Maybank CC to new Maybank CC? ie. Apply for Maybankard2, wait for the card then only cancel Maybank VISA + Amex cards.

noob question: when do bank start charging CC annual fees? upon approval like the GST? or after u hv use the CC for a year?

As mentioned, banks look at your eligibility. In your case, your friend's application went through because of the salary slip and I strongly believe the supp card reference was outrightly ignored. As for you, remember to always read T&C and understand before signing anything. Many times in this forum, people come in and blame just about everything and everyone except their own self - coz if we ask detailed question then it is obvious simple things like making effort to read T&C were simply ignored.

Applying credit card require proof of income (everyone knows that) and supp cards uses the principle card holder income reference and not your own. Surely you could have figure this one out ? So to blame the girl / others is simply not right. Bear in mind (except to the trained bank staff), the difference in supp card and principle card is not noticeable as you need to input the card number before the system tells you.

Reference card information are sometimes and definitely the income requirements are written in the application form ... are you aware of the existence of the T&C and have read the T&C in the first place ? Saying this as the supp reference card would not be able to provide any information regarding your financial profile and possible income then isn't it very obvious that the bank will reject it outright?

So what do you want to do now ? If you want to apply then go to another branch and this time bring all your income documents, read the T&C (however in fine print they are) and learn not to blame others first ... always reflect on yourself.

(I can't believe I'm saying all the above)

looks like my scenario, i go try apply again. this time i will say.  " THIS IS MY SUPP CARD. AND I GIVING U MY PAYSLIP WHETHER U LIKE IT OR NOT" 

btw genx great website, help me alot 

is this the only CC that have such special condition 36 swipe to waived GST? sound better than those need hit certain spending amount or exchange using points

Shocking reasons why Malaysians are living beyond their means
By LEE YEN MUN and RAHIMY RAHIM
newsdesk@thestar.com.my


On average, 41 are declared bankrupt every day, mostly due to credit card debts  , while every weekend, about five million throng the 300-odd shopping complexes in the country.

“In one of our surveys, we were shocked that many children did not even know where money came from,” he said, adding that most replied “the ATM (automated teller machine).   

“And, they do not believe that their parents have to work to earn money,” Selvaraj added.

Malaysian Association of Shopping and Highrise Complex Management president H.C. Chan said its statistics showed that one in five Malaysians visited a shopping mall on a weekend. “And the country has about 320 shopping complexes,” he pointed out.

I have got my interns to produce a simple iPhone and Android app to calculate credit card repayment period and the amount of interest charged based on the repayment method (pay minimum, pay fixed amount, pay within a timeframe).

Comparison between 2 different payment plans can be made to see the difference in interest amount and repayment period.

You can find it in iTune App Store for iPhone, by searching for "Credit Card Calc", and also in Android Market by searching for "Credit Card Calculator".

Hope that it is fun and useful to you.

That's not true.

Credit cards are not the top contributor to bankruptcy. Car loans are the biggest culprit at 24%, followed by personal loans at 12% and business loans and 11%. I read somewhere credit cards defaulters comprise of around 5% of all bankrupts.

Click the link below:
Car loan takers top bankruptcy list

Many people take car loans without realizing that the affordable monthly repayments are probably just around 33% of the total cost of owning a car.

pengsan with the interest

Thanks for the reply.
If applying for Hong Leong cash for call, RM10,000 for 12 months, 4.99% one time interest:
Total money need to pay back in 1 year should be RM10,499? Or is it have other "Hidden charges"?
Thanks.

It'll be interesting to see if our recommendations will ever create ripples in Malaysia.
Our strong analysis of credit card offerings already seeing some impact (My guess only) and some shift in consumer uptake (or downtake) of certain credit card products.

I'm thankful to our many contributors to this section. Especially some standing up to 'worrisome' questions from our readers to build debts in the wrong manner.

if these things happen, I will lost 98% of my CL as well as settle my 100K++ BT in short period:(

This is more of a philosophical question and not directed at you personally:

You have benefited from the current situation and we will always have financially foolish people around. Such people will have issues one way or the other. Is it fair to stop other people from potentially enjoying the benefits you are getting?

To be honest though, if any group dies it will be the RM3k to RM8k group that dies the greatest death and falls into the deepest chasm.

Hmmm, do you remember which merchant or which service provider? So far, all the slip I signed did not reveal the full CC no.

From googling, min total debts to be made a bankrupt is RM30k (but includes all debts - study loans, car loan, house loan, personal loan, credit card)

Sad to see a person overspend to the point they can't even make a 5% payment

Options
1) cut expenses - stop eating out
2) any assets (FD, ASB)? - take it out as the dividend earned is much less than the interest charged to the card
3) Balance transfer to other cards. usually it will be lower interest but if your friend is not matured enough to control spending, it will just be a bigger hole to cover
Cards with 0% rate now is Maybank and CIMB but I doubt your friend can get a card with a credit limit big enough to stomach that credit transfer, lest settle 13k in 12 months
4) AKPK  - when you are unable to even make min payment, he should know he is already in trouble.

Option 3) does not necessarily solve your "unable to make min payment problem" since it just moves the bill to other cards (just not growing anymore if you manage to get a 0% plan)

Finally CUT the card! Stop him from spending. It is apparent he is not matured enough to handle the responsibility of unsecured credit.

Guys,

I pay roughly about 40-50% for maybank card and about 10% for my cimb, every month.

I do have some spare cash, totaling about 50% off my entire cc debt. Basically, this is just a spare cash.

My question is, it is better to pay my total bill with my cash or keep with my routine?

TY guys

if cant settle rm12k in 12 months BT, go for longer period, such as 24 months or 36 months (but no 0% offered).

BSN BT 24 months, the 4.5% is calculated 1 time only.

so rm12k will be charged rm540 then rm12k/24 = rm500.

meaning, 1st bill need to pay rm1040, followed by rm500 for next 23 months.