Bro, if you can pay before 23rd October 2013 in full, you won't be charged a single sen in interest.

Now, if you can only pay RM500, it is a good thing that the amount of debt (Outstanding Balance) you have in your card is not that much (i.e. RM500); and, as such the interest is kind of negligible for a month (less than RM15). Just don't use your credit card again until you can settle in full before the next Due Date on 23 November or even earlier to avoid more interest being imposed (make sure you include the interest charges when paying or simply add extra RM20 if you do not want to waste time calculating the interest up to the day you make payment).

And do read my article Avoid The Debt Hole By Getting FREE Financial Tuition From Me where I once again have a reminder that only use your credit card if you have money to settle in full prior to the Due Date. This is the only principle you need to practice and never break it, not even once, because if you break it once, there is nothing to prevent you from repeating it and eventually you will end up in the shit hole of debt.

This post has been edited by Gen-X: Oct 8 2013, 12:41 PM

Wow good explaination there! Erm what do u mean by



Okay let's say on 10th Oct I bought something for RM 1000 n I don't have any outstanding balance from previous months. So on 3rd Nov the bill comes so I paid partial payment like RM 400. So I'm left with RM 600 which will be carried to 3rd Dec..so on 3rd Dec when the bill comes the interest will be charged upon my outstanding balance which is RM 600 right? The interest will be 1.0125 * 600 right?

Bro, most of us here don't really know how interest is calculated because most of us who share our credit card experience here do not have to worry about working for the banks because we practice the principle below (once again repeated to enforce this principle into your head, haha):

only use your credit card if you have money to settle in full prior to the Due Date. This is the only principle you need to practice and never break it, not even once, because if you break it once, there is nothing to prevent you from repeating it and eventually you will end up in the shit hole of debt.


So for your case, if you have not make the purchase, just save the money until you have RM1K in the bank to pay your credit card bill in full instead of you worrying making the banks richer.

And as for RM15 being negligible...... well, that is about how much I burn a day on cigarettes, hahahaha

This post has been edited by Gen-X: Oct 8 2013, 02:08 PM

outstanding balance (from the date of the transactions) + all new transactions will be charged interest.

basically the next statement interest will essentially be interest for past 2 months for (almost) all of your transactions.

Paying RM400 does not mean it clears the first RM400 transactions, but divided to reduce the balance of all of your transactions.

Ah I see. Haha I'm in need for a new monitor n speaker so might use credit card to buy it n then pay back a portion of it when salary comes out...the interest shouldn't be that much right (should be less than RM 15 if I manage to settle in 2 months n no new usage )

I expect more, and would recommend that you spend within your means.

Yea. Thanks everyone. I will try not to spend with credit card if I am not able to make full payment on the due date itself But then I really want a new monitor and speaker now XD

i read somewhere some one wrote something this:

Haha nice quote over there. Oh I have another questions. Is it true that we are limited to have cards from 2 BANKS ONLY? But within these 2 banks we can have multiple cards?

And also, what is the best credit card for petrol rebate? I am not eligible for Titanium cards though and also I prefer Shell So far I saw Citibank Shell Card but then it has a quota...the amount needs to reach RM 300 to get the rebate...anything else besides this?

Try Maybank2Kard Gold, lower income requirement. Shell accepts, just pump on weekends only to get the 5% cashback plus effective 2% based on 5x points.

Oh nice! Was planning to get that 1 already =)

For cardholders earning RM36,000 per annum and less, the following would be applicable:
Cardholders can only hold credit cards from a maximum of two issuers.

Oh thanks! I guess I fall into that category haha

I checked the maybank card..it says 5% rebate on retail on weekends...so petrol is included? And also the interest rate is 17% as other banks are 15%? Hmm...

Yes, petrol is included for the Maybank 2 Amex. Refer to the specific thread for more details. The 1st page is very informative.

Bro, I got a solution for you, first buy the monitor and then after 1 month only get the speakers, or the other way round if you got not enough money for the monitor now By the way, speakers are not that expensive, so what monitor you getting that you cost you close to RM1K?

This post has been edited by Gen-X: Oct 9 2013, 01:25 PM

Haha no la the speaker is around 300. The monitor is around 700 so total 1 k lo XD But get monitor without speaker is not fun hehe XD

May I know if there any credit card that can waive RM50 GST tax for new credit card application and offer the card free for life?

I have Standard Chartered World Miles card. When I first got it, the staff said annual fee and tax can be waived, every year. I just need to give them a quick call. I have been using it for 3 months. Don't know if it is really true. So far, no need to pay any annual or tax.

i have a question

lets say my credit card limit is RM 1000... zero consumption as of today

can i pay RM 3000 into my account... then swipe RM 4000 ?? or RM 3900 ?