Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsCredit Cards Credit Card v17, Ask general questions here, Please read the 1st post before posting!
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 Mar 12 2012, 11:32 AM
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#1
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Junior Member
104 posts Joined: Oct 2011 
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I dont know is it correct to ask here, but how does the cash rebate of CC works?
Okay, let say i pump Rm100 petrol, rebate of my CC is 5%. So it means i only pay RM95 or i pay RM100 but i can get RM5 cash back? And if so, how do i get the RM5? in cash or transfer to my account? Thank you |
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Mar 12 2012, 12:12 PM
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#2
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Junior Member
104 posts Joined: Oct 2011
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QUOTE(alexwsk @ Mar 12 2012, 12:09 PM) you swipe for the full amount, all cash rebates will be credited back to your credit card account Thank you for your reply.unless it mentions discount with XXX credit cards, they you will swipe the discounted amount  So what can i do after it credited back to my account? it means when i pay the bill i only pay the amount after the rebate? |
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Mar 12 2012, 12:24 PM
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#3
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Junior Member
104 posts Joined: Oct 2011
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QUOTE(catsper @ Mar 12 2012, 12:19 PM) I suggest pay the statement balance. The rebate will be credited later and will be offset by your next transaction. oh, which means the amount of next transaction will be deduct bt the credited amount from the previous transaction. Correct?can i collect the credit amount and use it when i wish or the credited amount from the previous transaction it must be use on the next transaction? Thank you for your reply |
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Mar 12 2012, 12:56 PM
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#4
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Junior Member
104 posts Joined: Oct 2011
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QUOTE(ronnie @ Mar 12 2012, 12:24 PM) You will still be charged RM100 for petrol. Thank you for your reply.The RM5 will be creditted back into your Credit Card account (depends on individual bank, you will get the Cash-Back either end of the month, on Statement Date, or accumulated to RMxx) So i can actually withdraw my cash- back at the end of the month? |
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Mar 12 2012, 02:04 PM
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#5
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Junior Member
104 posts Joined: Oct 2011
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QUOTE(catsper @ Mar 12 2012, 02:00 PM) Rule of thumb: Do not withdraw cash from credit card. You might lose more then what you have earned from rebate. Noted, thank you! withdraw money using credit card is stupid..I do not see the logic here. Why withdraw? The rebate will stay there, and your next swipe will clear it. Unless you plan to use it one time and cash out the rebate then stop the card. What do you intend to do? one more question i must use the rebate on the next swipe or i can accumulate it until i wanna use it?? |
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Mar 12 2012, 02:25 PM
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#6
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Junior Member
104 posts Joined: Oct 2011
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QUOTE(catsper @ Mar 12 2012, 02:13 PM) You will have visibility but not control. You can see the rebate has been credited if you have e-banking. That is all. I see, thank you.. understand now. Then since it is not encourage to withdraw it. Then what can i do with the rebate??  |
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Mar 12 2012, 03:01 PM
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#7
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Junior Member
104 posts Joined: Oct 2011
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QUOTE(catsper @ Mar 12 2012, 02:59 PM) You still do not see how it works. Let say I have a rebate of RM50 as outstanding balance. My next purchase is petrol for RM60. OHHHHH, finnaly i got it...thank you sifu! So, I swipe the card, then my outstanding balance is only RM10 which means I get RM50 worth of petrol FREE. Understand?  |
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