They oso adjust the treatpoints, i think they should keep us the pts for compensation for the hassle

Alliance Bank? Sounds like their debit/prepaid card. Never encounter that with their CC.

Actually, all petrol stations also will earmark RM200+ lor. Ppl don't usually realise it so much with credit card cos it doesn't appear in sttmt.

But some debit/prepaid cards will show the earmark amt and reversal and actual amt charged.

If anybody wants to avoid earmarking, just pay at cashier. Then you're charged the exact amt u pump and dun hv 2 worry abt funds being held up until settlement is done.

This post has been edited by mushu_pork: May 27 2011, 11:49 AM

To be precise, all petrol stations will pre-authorize RM200 every time you decide to use your card at the pump. All banks have the same practice and this is not new ... it has been like that for many many years. A petrol station which claims the authorize amount and later the bank adjust to the exact figure is an absolute myth. (I also have a friend which owns a petrol station thus I understand what is involved in their claim process for cc transactions)

For debit cards ... they need to "lock in" the authorize amount before arriving to the actual number. Process is almost the same except the difference is that for credit card, we are "using" the bank's money and not our own money when we pump petrol. Thus the amount being "locked" is the bank's money and not ours.

The actual amount will be charged to the customers account once the merchant (petrol station) submits their claim / do their settlement with the bank at the end of the day (or whenever they do it). Customers will only see the actual amount charged once this settlement process occurs. This explains the concept of Transaction Date and Posted Date which you sometimes see in your online banking system.

This post has been edited by hye: May 27 2011, 12:28 PM

anyone applied for a card before just using their offer letter/?

I did that 5 years when I first work.

Correct, plus thats is why some people will call the bank CS and screw them due to tranx decline given the example like below:

Available limit: RM100.00
Amount Charge: RM50.00
Petrol Pump Pre-Auths: RM200.00

Of course decline lah.... the sad part here is, after the bank CS explain to whole logic.... the customer say, "you guys need to improve this is not acceptable, i dont care about the pre-auths of RM200.00. All i care is i have RM100.00 available and when i charge RM50.00 it suppose to go thru".... which customer have a points but the bank cant do much.

This post has been edited by ak1977: May 27 2011, 02:41 PM

Well ... that's the purpose of this thread. To provide some form of education to the readers on how things work.
There's no way the above scenario can be made to fit the demand of the customer. I have to side with the bank as making the change will have a lot of impact and there's a lot of costs in making those real time transactions to work.

Plus currently the customer can go to the counter and ask them to swipe after the petrol is pumped at the slight cost of time and convenience. The option exists, so the excuse for customer to demand the above is lesser and not to their favor.

This post has been edited by hye: May 27 2011, 03:15 PM

agreed but swiping inside can be applied only if they are open, however during the wee hours not all petrol station will allow customer to come in the shop.

However, i dont really swipe my card at the island although the pre-auths only RM200.00, bcos chances of getting the card skim is very high.

Why need to bother those who left RM100 CL in their account? Its their problem not the bank.

Now card skimming no longer a threat in M'sia where all cards issued are Chip based and POS terminal also EMV compliance. Petrol station is the heaven for lost or stolen cards syndicates because non-signature base transactions. The main problem we are facing now is identity theft. My advise is don't sign-up credit card application other than in the bank's premises.

my friend urgently need to go to BNM

He got a called from bank to speak to someone else; at first assume wrong number but then the bank call his office. not sure how this could happen

but if his ID was used supposely the loan will be under his name right?

Hi,

I have few question to ask, and i'm totally new in this credit card thing. Firstly i do not own any credit card because i can't apply due to my annual income below then 24k (actually not even reach 20k ). Anyway my mom has an extra credit card that not being use, and my mom will help me buy thing that i want, monthly bill will be pay by me. Or maybe i will ask my mom to do cash advance by using that credit card. So i just take the money and pay the thing i want to buy, then monthly bill will be paid by me.

So the question is,
- I want to buy something that worth RM4000, and if the minimum pay is 5% from RM4000 it will be RM225, so i decide to pay RM300 monthly, that mean i will be in good standing right? how about the interest charge? and i still blur about the Interest rate (% p.a.) what this thing mean actually? from what i understand that mean if i still have hutang after 1 year the interest will be 13.5% right? example after 1 year i still got hutang left RM300 then 13.5% from RM300 is RM40.5 , so i have to pay that? how about if i can finish the debt in less then 1 year?

sorry if my question too messy, and sorry for my bad english. I'll try to explain further if you guy cannot understand..

Post EDITED.

This post has been edited by mdlan: May 28 2011, 07:40 PM

Now to be crystal clear ... you CANNOT claim that it is your credit card nor use the indicated credit card as the card is in your mum's name. Should you use it, your mum is in violation of the bank's T&C (bank may terminate and block the credit card from further use) and the merchant can call the police and arrest you for illegal use of the card.

There's no point to answer your question should you use the card on your own. There may be readers in here with similar situation like yourself and I don't want anyone doing something (which they will later claim) they don't fully understand the legal implications of their actions. Plus you are putting a debt on another person's credit card ... you may understand the debt structure but will you make an obligation / pledge to inform your mum on what is the debt implication as well ? I will need to tell you off as the debt is your mum's and not yours from the legal aspect.

Bad English or not .... not an excuse and readers here will get a bad impression / idea.

This post has been edited by hye: May 28 2011, 07:39 PM

owh ok sorry that, i've edited my post, i'm going to use it on online purchase..before this my mom buy me the motorcycle and using her credit card, and i have a commitment to pay monthly, RM500 monthly i pay for that, until the price of motorcycle complete, so know i thinking about using the same method to buy other thing..my mom will help me buy the stuff, but i the one who will pay for it

This post has been edited by mdlan: May 28 2011, 07:47 PM

Interest for credit card is not counted using simple arithmetic. Interest is calculated daily and compounded (unless this is a Islamic card). A simple online search will allow you to find credit card interest calculators which will be a good estimate of how much interest you will need to pay, which will be a lot more than RM40.50.

Hint: Do an IPP if the option is available.

mdlan, if you pay minimum 5% every month, with interest imposed on the outstanding balance, it will take you no less than 5 years to clear the debt. I strongly recommend that you do not go buy stuff that you cannot afford i.e. live beyond your means. However, if you really need to spend RM4K on something that is of absolute necessary, then like charymslyn said, opt for 0% installment plan if possible. There are 0% installment plan for Education Tuition Fees and Hospital Bills with CIMB credit cards.

click here to read my article titled Introduction to Credit Cards - CC101.c This article was written in 2009 but you can sure learn a thing or two from it.

If you have time, also read this article about Annual Income and Debt own by Malaysians


**Edited**
I just read about the motorbike thingy. I think it be cheaper if you go get yourself a loan. Don't the banks give loan for motorbikes?

Maybe what you should instead do is do a Balance Transfer to another card and save on interest. i.e.  CIMB have Balance Transfer where the interest rate is 0% for 6 months and 1% for 12 months and hopefully you can settle the debt within a year. Example So charged the motobike to say Maybankard and the do BT to CIMB card.

This post has been edited by Gen-X: May 28 2011, 10:48 PM

Just to add ... what you failed to understand if that you are thinking that all you need to do is to pay the minimum amount from your RM4K "loan" and count the interest based on that RM4K. Please note .... the moment you do this, your mum's card will lose the 20 interest free period and you are now paying interest for the entire amount used on you mum's card. (Interest now depends on how much have you spent on the card)

Listen to what everyone is telling you. Either ...
1. Do IPP
2. Don't buy anything you cannot afford, period.

Sound harsh but you'll thank us down the road.

P/S ... Thanks Human Nature for pointing out my mistake

This post has been edited by hye: May 29 2011, 06:06 AM

Don't ^

This post has been edited by Human Nature: May 28 2011, 11:53 PM

thank guy for all the info & option given, i truly appreciated.
i just need some explanation regarding my question, even after i get my own CC at least i know a little bit about it, such as fee & charge, that why i come to this topic where the title is Ask General Question. It will be different story if i open up new topic call "Need some advice".

again thank for the reply regarding my post

You can read 1st post or post it here.

Just to check out if we obtain the HSBC Advance Visa Platinum card, the credit line will be share with our existing HSBC cc or we can get another seperate credit line.
Thanks for your kind input.