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Credit Cards Maybankard 2 Gold and Platinum Cards V3, AMEX with Visa or MasterCard

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lucifah
post Jan 19 2012, 02:12 PM

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so, i got my offer letter in the mail today for a platinum card

since i have no credit history before, they require me to put in 15k FD

i like, wtf?


let's calculate:

RM15,000 in FD, with an optimistic, healthy 4% (as if) return, would earn me RM600 p.a.

but that same RM15,000 can earn me 8.5% if i dump it inside ASB, making me RM 1,275 p.a. richer

effectively, i lost, or should i say, i have to pay RM 675 (1,275 - 600) per year just so that i can get the cards



what logic is this?

This post has been edited by lucifah: Jan 19 2012, 02:13 PM
lucifah
post Jan 19 2012, 02:45 PM

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QUOTE(travelyew @ Jan 19 2012, 02:30 PM)
Are u sure u can get ASB?
*
yes. in fact, it's maxed out. i posted my account in some other threads, if you want to find it.


QUOTE(zenquix @ Jan 19 2012, 02:35 PM)
so the logic would be the offer is only good for non-bumis. Not everyone gets access to ASB.
*
u still have AS1M, ASW2020, and such where non-bumi can invest

these offer 6.0 - 6.5% return, on average

QUOTE(desmond_fantasy @ Jan 19 2012, 02:37 PM)
I tot based on your salary (if qualified) should be ok already?  hmm.gif
*
my salary requirement is more than enough, but since i never have any kind of loans, i don't have any credit profile
lucifah
post Jan 19 2012, 02:53 PM

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QUOTE(ronnie @ Jan 19 2012, 02:49 PM)
Maybe you hold too many "unsecured loan" under CCRIS
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in actual fact, i never borrow any money since i have very, very healthy cash flow wink.gif

my financial adviser (aka maybank manager biggrin.gif) advised me to build up good credit profile, so a credit card (with good repayment history) is a start

i've been using debit card for the past few yrs - maybank's own, and i thought that would count too... but it isn't

This post has been edited by lucifah: Jan 19 2012, 02:58 PM
lucifah
post Jan 19 2012, 03:18 PM

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QUOTE(ronnie @ Jan 19 2012, 03:11 PM)
Unsecured loan = Credit Card.
Did you print your CCRIS at BNM ?
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maybe i forgot to mention, i have never needed credit cards, so i never own any credit cards before

this card application is merely to build up my credit profile, and also the treats point

(RM1 - 2 points!, rather than the measly RM3 = 1 point for debit card)
lucifah
post Jan 19 2012, 03:40 PM

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QUOTE(aeiou228 @ Jan 19 2012, 03:29 PM)
And the free money RM50 every month to offset part of your CC expenses or the RM675 opportunity loss in ASB.
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i don't quite understand what you are implying. can you elaborate further?

QUOTE(azam_halim @ Jan 19 2012, 03:31 PM)
if you really want to build up your credit profile via credit card, just apply one. apply for mbb2card is recommended since it is unconditional free for life card (no annual fee, no minimum usage/swipe). since you are already a filthy rich guy, i'm sure you are at least eligable for gold card. i dont see any need to pledge fd to get a platinum credit card. gold card also able to be use for building credit profile..all you need to do is use any pay full every month (or dont use it at all and keep it safe at home). the overall cost is only rm50 annually (the government imposed credit card tax).

..and you get 5 treatpoints for every rm1 spent on mbb2card amex instead of how much you are getting and plan to get
*
doesn't matter if it's gold or platinum, i am still required to make an FD against the cards, which i am not in favour of

i even requested them to just give me a classic card with a 5k limit (my debit card has 5k daily spending limit) - and they say they have stopped giving out classic. gold is now the entry level card. (what!)

edit: there's not many place that i go accepts AMEX. in fact, amex is pretty useless in my small hometown. not even the petrol station accept amex... it's a LOL card!

This post has been edited by lucifah: Jan 19 2012, 03:42 PM
lucifah
post Jan 19 2012, 03:59 PM

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QUOTE(azam_halim @ Jan 19 2012, 03:57 PM)
this i dont understand why..as long as u can fulfill the requirement for credit card, you should be able to get one..unless you're like 15 or something..LOL!
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i'm like double that age. LOL!

that's why i'm quite surprised too...

only now i realized it's very hard to get credit cards

i was just wondering why on earth so many ppl complained that it;s too easy to get credit cards nowadays

aiyo~
lucifah
post Jan 19 2012, 04:22 PM

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QUOTE(aeiou228 @ Jan 19 2012, 04:10 PM)
You are posting in this thread so I assume you are offered MBB2Amex/Visa Plat. MBB2Amex pays you 5% cash rebate on weekend spending up to a max of RM50 rebate per calender month. On top of 5%, you will also get 5x tread points (TP) on every RM1 spent for all transactions. The value of TP is approximately 2.5% rebate of each RM1 spent.
*
hm... the thing is i will use this card to pay bills (approx 3k per month) and other corporate expenses. which is mostly done during working days

and to pay for hotels (nasty experience with debit card - the deposit part) during business travels

so i think the weekend rebate won't be applicable to me. even my petrol purchase is not much since i ride a small scooter around town
lucifah
post Jan 19 2012, 04:37 PM

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QUOTE(aeiou228 @ Jan 19 2012, 04:31 PM)
So.. you are not a family man yet ? no weekend grocery trip ? anyway you just need to spend 1k over 4 weekend to max up the RM50 rebate. Other spending during week days will also entitles you 5x TP or in value term, 2.5% rebate.
*
i'm a forever alone guy... doesn't even have a gf

which explains the very healthy cash flow... whistling.gif
lucifah
post Jan 19 2012, 05:01 PM

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so, how do i apply cards without needing to put in fd?

i absolutely loathe the gold colored cards - too cheesy

so, it's either a classic or platinum or black brows.gif colored card

the points would accumulate quickly, and i usually redeem it for parkson vouchers (9,000 TP = rm 50)

so, any ideas?
lucifah
post Jan 19 2012, 05:08 PM

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QUOTE(zenquix @ Jan 19 2012, 05:03 PM)

this should go into the credit card recommendation thread but have to tried applying to the bank where your salary is credited?
*
i'm not asking which credit card to choose, but HOW to apply for the cards, since one the best cards out there seems to be these cards

salary credited through the same bank,

even with the bank manager's recommendation, the application still got stuck at the you-need-a-15k-fd-for-the-card stage

hm...
lucifah
post Jan 19 2012, 07:45 PM

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QUOTE(azam_halim @ Jan 19 2012, 05:24 PM)
actually, where are u applying it? try go to bigger branch..ipoh branch instead of kuala sepetang branch
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i live in a small town in soviet sarawak, so no big branch

this one has no private banking facility, wink.gif

QUOTE(aeiou228 @ Jan 19 2012, 05:31 PM)
You apply online la or go to 1U Maybank card center. The branch Manager want to squeeze your FD only.
*
on the contrary - it was the KL card centre who send the mail asking me for my FD

the manager advised me against the FD,
lucifah
post Jan 20 2012, 12:10 AM

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QUOTE(gerrardling @ Jan 19 2012, 07:57 PM)
Miri, kuching, sibu ? if you want to apply for credit card, just go to any branch nearest to you, any branch will accept it
*
sibu.

the problem is i have a super clean credit history. which means *nada*

no history of loans... no records of repayments performance

so since CCRIS and CTOS don't have my profile, they want me to pledge a 15k FD for a 15k limit credit cards

seems to beat the purpose, doesn't it?
lucifah
post Jan 21 2012, 08:01 AM

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QUOTE(MilesAndMore @ Jan 20 2012, 12:43 AM)
Neither. The other 4-digit.
Ignore the invitation letter and apply it directly with Maybankard Centre and see how it goes. Print the application form online and fax it to them. You need to earn at least:
RM30k/pa for a Gold MBB2
&
RM60k/pa for a Platinum MBB2
*
my tax-chargeable income is >60k p.a.... yet i still have to make an fd... aiseh...

seems to be the new ruling
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