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 Credit Card v16, Ask general questions here, Please read the 1st post before posting!

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erry-
post Nov 8 2011, 03:54 PM

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QUOTE(psiloveu @ Nov 8 2011, 03:33 PM)
If use CL 100K card to apply, will CIMB give VI directly? hmm.gif  hmm.gif
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VS or VI? VI need min income rm200k/year.

the chance to get VI with current limit of rm100k, i can say 80% notworthy.gif

QUOTE(andy_lyy @ Nov 8 2011, 03:46 PM)
better benefit.. always go to GSC...currently having DA Platinum wf 20k.. highest will be SCB 40k
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da plat visa already can get buy 1 free 1 movie, no need to upgrade to VS lah smile.gif

Added on November 8, 2011, 3:59 pm
QUOTE(gerenti @ Nov 8 2011, 03:52 PM)
r u sure bro? i just spoke to the salesperson just now..
she said that their easypaymnt scheme will not affect the available balance. for example, the purchase price is rm24k. so if my availble blnce now is 19k, i still can purchase it. they'll swipe 24k, then it'll split to 36month instalmnt which is about 670 per month.
so in my next month statmnt, my availble balance, will only deduct 670, not 24k..
the EPP whch block entire amount of CL we have is not applicable to the huge amount of purchase item. it might applicable to thing like handphone etc
so, there are two type of EPP la
*
NO lah sweat.gif

u swipe rm24k, ur card will be declined ~ doh.gif

This post has been edited by erry-: Nov 8 2011, 03:59 PM
jayro_88
post Nov 8 2011, 04:00 PM

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QUOTE(gerenti @ Nov 8 2011, 03:52 PM)
r u sure bro? i just spoke to the salesperson just now..
she said that their easypaymnt scheme will not affect the available balance. for example, the purchase price is rm24k. so if my availble blnce now is 19k, i still can purchase it. they'll swipe 24k, then it'll split to 36month instalmnt which is about 670 per month.
so in my next month statmnt, my availble balance, will only deduct 670, not 24k..
the EPP whch block entire amount of CL we have is not applicable to the huge amount of purchase item. it might applicable to thing like handphone etc
so, there are two type of EPP la
*
i dont think thats the way. Most of the epp will make sure ur available credit limit is more than the items that u wanna purchase.
psiloveu
post Nov 8 2011, 04:01 PM

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QUOTE(erry- @ Nov 8 2011, 03:54 PM)
VS or VI? VI need min income rm200k/year.

the chance to get VI with current limit of rm100k, i can say 80% notworthy.gif

da plat visa already can get buy 1 free 1 movie, no need to upgrade to VS lah smile.gif

Added on November 8, 2011, 3:59 pmNO lah sweat.gif

u swipe rm24k, ur card will be declined ~ doh.gif
*
i know the income requirement for vs is 100K and vi is 200K.
right now if someone use 100K CL card to apply......will cimb give VI directly instead of vs? hmm.gif
erry-
post Nov 8 2011, 04:05 PM

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QUOTE(psiloveu @ Nov 8 2011, 04:01 PM)
i know the income requirement for vs is 100K and vi is 200K.
right now if someone use 100K CL card to apply......will cimb give VI directly instead of vs? hmm.gif
*
ok2. no idea.

better give 2 months payslip of rm16k/month. confirm can get VI laugh.gif
shiroikun
post Nov 8 2011, 04:33 PM

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QUOTE(erry- @ Nov 8 2011, 04:05 PM)
ok2. no idea.

better give 2 months payslip of rm16k/month. confirm can get VI laugh.gif
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This is hard...for me doh.gif
erry-
post Nov 8 2011, 04:44 PM

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QUOTE(shiroikun @ Nov 8 2011, 04:33 PM)
This is hard...for me  doh.gif
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u just want VS right? VS need salary of rm8.4k/month only ~
shiroikun
post Nov 8 2011, 05:14 PM

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QUOTE(erry- @ Nov 8 2011, 04:44 PM)
u just want VS right? VS need salary of rm8.4k/month only ~
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Ya VS is not hard, can get it easily but in order to get a VI...still long way to go.

I have a VS from citibank which much more easier to meet the requirement. 5k monthly salary will do
erry-
post Nov 8 2011, 05:29 PM

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QUOTE(shiroikun @ Nov 8 2011, 05:14 PM)
Ya VS is not hard, can get it easily but in order to get a VI...still long way to go.

I have a VS from citibank which much more easier to meet the requirement. 5k monthly salary will do
*
thats bcoz citi's PM just need rm5k/month salary sweat.gif
hye
post Nov 8 2011, 05:34 PM

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QUOTE(gerenti @ Nov 8 2011, 03:52 PM)
r u sure bro? i just spoke to the salesperson just now..
she said that their easypaymnt scheme will not affect the available balance. for example, the purchase price is rm24k. so if my availble blnce now is 19k, i still can purchase it. they'll swipe 24k, then it'll split to 36month instalmnt which is about 670 per month.
so in my next month statmnt, my availble balance, will only deduct 670, not 24k..
the EPP whch block entire amount of CL we have is not applicable to the huge amount of purchase item. it might applicable to thing like handphone etc
so, there are two type of EPP la
*
By all means the salesperson wants the sale to go through thus will give the most optimistic calculation system.
You are asking questions with regulars and seniors from the credit card world in Malaysia, so which one would you think would be more accurate?
shiroikun
post Nov 8 2011, 05:38 PM

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QUOTE(erry- @ Nov 8 2011, 05:29 PM)
thats bcoz citi's PM just need rm5k/month salary sweat.gif
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Yap i know. If you just intend to get a VS regardless of any bank then just go for citi's PM. Easier...I suppose citi's PM having more benefits if compare to CIMB VS
gerenti
post Nov 8 2011, 05:54 PM

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QUOTE(hye @ Nov 8 2011, 05:34 PM)
By all means the salesperson wants the sale to go through thus will give the most optimistic calculation system.
You are asking questions with regulars and seniors from the credit card world in Malaysia, so which one would you think would be more accurate?
*
so sorry to 'otai's here. not meant to not to trust in you all.. huhu
actually i just back from the shop n have done successfully the purchase of kitchen cabinet.
to be exact, my credit limit is RM30k n my available balance is just about RM19450.05. n i purchased the kitchen cabinet worth 23940 with 0 interest in 36 months. so monthly instalment just RM665.
after checking my balance with the bank just now, my available balance was just decrease to RM18785.05 which means it already deduct this month's instalment.
n again, the salesperson told me that it was a deal with the company n the bank
so, just to share this with all forumers here la n im not against any other sifus :-)
cute_boboi
post Nov 8 2011, 06:11 PM

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QUOTE(hye @ Nov 8 2011, 05:34 PM)
By all means the salesperson wants the sale to go through thus will give the most optimistic calculation system.
You are asking questions with regulars and seniors from the credit card world in Malaysia, so which one would you think would be more accurate?
*
QUOTE(gerenti @ Nov 8 2011, 05:54 PM)
so sorry to 'otai's here. not meant to not to trust in you all.. huhu
actually i just back from the shop n have done successfully the purchase of kitchen cabinet.
to be exact, my credit limit is RM30k n my available balance is just about RM19450.05. n i purchased the kitchen cabinet worth 23940 with 0 interest in 36 months. so monthly instalment just RM665.
after checking my balance with the bank just now, my available balance was just decrease to RM18785.05 which means it already deduct this month's instalment.
n again, the salesperson told me that it was a deal with the company n the bank
so, just to share this with all forumers here la n im not against any other sifus :-)
*
There are two types of EPP (sorry, I don't know the exact terminology for it)

Type 1 is normally block off the full purchase amount from CL.
e.g. CL = 10k
buy 6k installment.
CL balance = 4k
=> Bank will settle full payment to merchant at month-end, and from that day onwards, the deal is between bank and you. You have to settle CC monthly and merchant has 0% worries.

Type 2 is, merchant ask you sign a form, photocopy IC. Every month merchant will submit payment to bank for installment.
e.g. CL = 10k
buy 6k installment @12 months = (rm500/mth)
CL balance = 9.5k
=> Merchant submit monthly, and bank collect monthly from you.
Merchant has worries that you'll run away with the item, as there are 3 parties involved here, until you pay up the last settlement.
gerenti
post Nov 8 2011, 06:16 PM

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QUOTE(cute_boboi @ Nov 8 2011, 06:11 PM)
There are two types of EPP (sorry, I don't know the exact terminology for it)

Type 1 is normally block off the full purchase amount from CL.
e.g. CL = 10k
buy 6k installment.
CL balance = 4k
=> Bank will settle full payment to merchant at month-end, and from that day onwards, the deal is between bank and you. You have to settle CC monthly and merchant has 0% worries.

Type 2 is, merchant ask you sign a form, photocopy IC. Every month merchant will submit payment to bank for installment.
e.g. CL = 10k
buy 6k installment @12 months = (rm500/mth)
CL balance = 9.5k
=> Merchant submit monthly, and bank collect monthly from you.
Merchant has worries that you'll run away with the item, as there are 3 parties involved here, until you pay up the last settlement.
*
ya, maybe this is what the shop n the bank dealt..
i was also informed that the only thing the shop wanna me do is to increase my CL to be higher than the purchase price regardless how much available balance i have =]
hye
post Nov 8 2011, 06:33 PM

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QUOTE(gerenti @ Nov 8 2011, 06:16 PM)
ya, maybe this is what the shop n the bank dealt..
i was also informed that the only thing the shop wanna me do is to increase my CL to be higher than the purchase price regardless how much available balance i have =]
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I think the shop is not aware that users can't assume their CL increase will be granted if they asked.
It is not shop make any special arrangement with the bank, just that they agree to take a bigger risk by opting in the Type 2 EPP. Most merchant (like 9.5 out of 10) would not go for type 2 EPP. Your merchant choose Type 2 EPP coz if they hold on to Type 1 EPP then they cannot sell their wares.
gerenti
post Nov 8 2011, 06:53 PM

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QUOTE(hye @ Nov 8 2011, 06:33 PM)
I think the shop is not aware that users can't assume their CL increase will be granted if they asked.
It is not shop make any special arrangement with the bank, just that they agree to take a bigger risk by opting in the Type 2 EPP. Most merchant (like 9.5 out of 10) would not go for type 2 EPP. Your merchant choose Type 2 EPP coz if they hold on to Type 1 EPP then they cannot sell their wares.
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yups, agree with u..
but also maybe they think that the thing they sell is sumthing impossible to be stolen or brought to anyway. they easily can find n get back their ware if anything happen to purchasers rite. hehe
Antiexunited
post Nov 9 2011, 08:02 AM

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24k annual income is include allowance and OT?
or 24K just for our basic only?
hye
post Nov 9 2011, 08:18 AM

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QUOTE(Antiexunited @ Nov 9 2011, 08:02 AM)
24k annual income is include allowance and OT?
or 24K just for our basic only?
*
If your earnings including allowance and OT are captured in your payslip then you have a chance.
However, banks recognize that OT are not fixed monthly income thus they are likely to exclude that portion from your income calculations.
nokiaXP
post Nov 9 2011, 09:55 AM

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wat the document need to summit if wan request for permanent credit limit increase?only pay slip will do?assume my monthly salary is rm4k.then wat the maximum credit limit i can get?
hye
post Nov 9 2011, 10:22 AM

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QUOTE(nokiaXP @ Nov 9 2011, 09:55 AM)
wat the document need to summit if wan request for permanent credit limit increase?only pay slip will do?assume my monthly salary is rm4k.then wat the maximum credit limit i can get?
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Pay slip or alternatively EA, Tax Submission and other proof of permanent income.
As for CL the default answer would be 2x of your income but the final credit limit depends on the bank's discretion.

I believe your existing CL is perhaps higher than your 2x income ?
Gen-X
post Nov 9 2011, 10:33 AM

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My article on Premier Cards had to take a back seat last weekend as I was on a mission.

» Click to show Spoiler - click again to hide... «


Just posted my article titled Malaysia Premier Credit Cards - Which Is The Best For You?

In my article Entry Level Credit Cards - Which Is The Best For You? I have mentioned what I thought was the worst credit card in Malaysia.

In my article Platinum Credit Cards - Which Is Best For You? some may not agree with my choice of Highest Rank Plat cards.

Before you go read my final article on series of different categories of CC, please take a moment to think what your answers will be to the following questions:

1. In your opinion, what card is the Most Prestigious Credit Card in Malaysia?
2. In your opinion, what card is the Most Exclusive Credit Card in Malaysia?
3. In your opinion, what cards gives you "status"?
4. In your opinion, which card proves that you have reached the epitome of success?

Once you have identified the cards above, click here to read my article Malaysia Premier Credit Cards - Which Is The Best For You? and see if I share your opinions tongue.gif

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