Any bro/sis got experince on cash withdrawal using cc?

I withdraw RM5k on July 20 and fully paid by July 23, of course as standard, bank charge me 5% for cash withdrawal, that's fine.

My credit card statement dated Aug 6 received, I saw there are additional charges RM 2.XX for cash withdrawal interest. I called the bank and they inform it's cash advance interest fees with charge at 1.5% per day.

How can I completely stop the daily interest charges? by putting in excess money for cc account? or call the bank to stop it?

The day you withdraw Cash from Credit Card, you will be charged DAILY interest (18% per annum aka 1.5% per month).
If you have cash, why withdraw from CC ?

Exceed daily withdrawal limit and bank not open weekend.

No way the bank is going to waive/offset the interest. That's how they make money.

That's I understand but looking forward to see how I can stop the interest...

need to call the bank and ask ady....

What makes you think that the bank stop charging you interest ????
You are getting money from unsecured loan (aka CC)....

If you can pay the CC in advance, might as well you open another CASA at another bank with the money ?

Just go deposit RM5 or RM10 more then the Outstanding Amount in your account.

Ok, thanks bro. Hopefully interest automatic stop once excess money in place.

Hope you learnt your lessons about Cash Advance.
Too often a reader comes in and justify themselves the need for Cash Advance (or) get into trouble about Cash Advance.
Too often a senior in here will remind the dangers of Cash Advance (myself included) and get ticked off by readers who die-die wants it and think it is under control.

There's a reason we don't encourage it and blasting readers who think they understand what they are doing with Cash Advance. If anyone think they could stop the bank from charging you from Cash Advance fees/interest/etc you must be dreaming and please stop holding a credit card until you learn how to. You are not doing justice to yourself through this unsecured loan facility Bank will charge the fees the second you take out the money and will charge you interest by the day.

Of course everyone should take the responsibility to pay the interest, but as a consumer, since we need the cash advance for urgent situation, we are responsible to pay on time and minimize the interest.

That RM2.xx is your daily interest which is 18% per annum, i.e. 1.5% per month or 0.05% per day (30 days) hence it is correct.
And no worries; the interest had stop accruing, else your Aug 6 statement will show more interest than that.

Seems they only charged you 1 day interest.

i still rmb there's one forumer who said cash advance is something like loan but at lower %

where is he now?

Hi all,
wanna ask something,
the other days someone in lowyat approach me with pm saying that he is staff of the bank and ask me to apply CC through him.
after some consideration I have sent him my details for the application but now no news from this guy...
so I wanna ask could this be a scam?

hi all

i want to reduce my card limit for HSBC (normal HSBC and Amanah also can) but i was informed that normal HSBC min credit limit is 7k?

im planning to use this card for online purchases and i dont want to have such high limit. is there anyway for me to reduce the CL to rm1k?

or is there any card that can provide RM1k CL?

thanks in advance

First of all you should have reported him for sending you a PM, that's if you have not requested him to do so.

Secondly, you why would you trust anyone online?

To all, if you want a credit card, go apply online or go to bank branch. If you apply at the malls, request for agent name card, if he can't produce any, then he may be just a part timer.

This post has been edited by Gen-X: Aug 14 2012, 05:00 PM

If I want to apply credit card I PREFER walking in to the bank than apply through their website online...
sekarang macam-macam ada
I don't trust online thing...

This post has been edited by fly126: Aug 14 2012, 05:06 PM

hi bro gen-x

can help me with my question above?

thanks

By the way whether now the Bank still call u to verify on Credit Card Application... ???
Thanks !

This post has been edited by fly126: Aug 14 2012, 05:15 PM

at first I am worry but after that he sent me a mail using his ocbc email address only I dare to proceed to sent my details to tat guy.
I didnt request him to pm me, He c i drop some comments asking for the ocbc CC I think....
a bit worry

That's against Forum's Rule & Regulations. Next time do not trust anybody you cannot verify, more so if the person can break rules and don't go by the book.