18% rate is per annum, but the APR will be higher due to the daily compound basis of calculation.

You don't understand, at least please make the effort to refer to Wikipedia.

You need to goto MBB branch, fill up the form to link up the S/A and CC. Remember to bring both the account/card numbers along.

At the same time, ask the counter CS if can do SI.

For me, I know every month must settle before 7th. So normally I pay manually online between 1st-5th of every month, from my S/A -> CC.

Yes 18% is yearly basis. If you calculate daily, it will be 18%/12 months/ 30days = it is 0.05% daily charges on the cash advanced amount.

Actually they charge 18%/365 every day, on the balance at that day. So you will also get charged interest on interest, unless your card is an islamic card

Mathematically it is about 0.05% a day. The most simplest formula (not 100% accurate) to calculate interest is principal * (1.0005)^n where n is the number of days you 'borrow'. Because interest is calculated daily, if you hold the balance for a year (without paying) it will be abt 20% and not 18%.

edit typo

This post has been edited by zenquix: Dec 29 2011, 04:14 PM

It should be 0.05% daily. Bro, 0.5% is way too high already

thanks for highlighting the typo

1.5% Per month x 12 = 18% per annum (aka 12 months)

Understand, thanks for clearing up my doubt, guys!

I appreciate the help/advice, guys. Special thanks to chemistry and cute_boboi!

If currently still a student age above 21, I has a suplementary credit card but still do not have income yet. Can i use my suplementary card to apply principle card?

No, you cannot.

Need to get advise from sifu here.

Here's my situation, I just got my UOB 1 card statement and saw the RM50 Gov tax. Have any sifu here tried to call CS to waive the tax? Coz last year when I don't want to pay, they told me they can give me rm50 smart point to redeem it (actually is give you cash la)

I tried using this method on my Public Bank card....told them I'm not willing to pay for the tax...I thought I'm going to get a call from the CS to change my mind or something, who knows, after 1 week, received letter from them "I'm sorry to hear that you have cancelled your cc" I was like

So anyone got any luck with UOB 1 card (for 2011?)

Don't want to pay GST, go get a Debit Card

Above was posted 2 weeks back and cookie860217 subsequently confirmed it was genuine.

Well, my wife received a similar SMS from Citibank today. Click here to read my article Invitation To Increase Credit Card Credit Limit by SMS.

i want to ask if hong leong bank visa Gold if annually spent RM8k then no need pay annual membership fee? the charge me for RM160 should i pay or what?

call them up and request for a waiver

so mean it should be waive?

it MAY be waived

FML, my mum every month also pay the Rm160 annual fee even though she spent more than 8k per year...i never notice until now

Folks .... with a few more hours into the new year, wishing all our readers a Happy New Year! May 2012 bring you good luck !

And many thanks to all our great contributors to this thread. You know who you are (Gen-X, alexwsk, zenquix, MilesAndMore, cute_boboi, chemistry, David83, ronnie, shiroikun, rockefeller, ben83, shiroikun) and a whole lot more. I'm sorry if I miss out any names but still a great and big thanks to all you folks out there.

I'll be looking forward to my traditional New Year celebration tonight.

@hye, Happy New Year 2012 to you too!

Hope better and amazing deals come from the banks for the plastic world!