Actually quite a few banks can do BT without fax and statement , example citibank, UOB bank, Hong Leong Bank, all these bank can perform BT thru the phone

What about personal loan? Can it be BT into a credit card?

lol. cannot lah bro

Lol, well doesn't hurt to ask. haha

Bro brotan, I suggest you revised the thread title to "Balance Transfer Plans V2 - Up To Date Offers" or something like that. Have the word Balance Transfer at the start.

I was like WTF when I read the thread below:

http://forum.lowyat.net/topic/2311960

This guy smsbusiness2U started a new thread on BT and copied contents and links in my article titled Credit Card Balance Transfer 2012 - Gone is the best 0% Interest Free Loan. and claim credit for it. I have specifically mentioned in my article that one is not to reproduce any part of my article.

updated bro. check if the wording is ok (modified a bit)

@gen-x yeah that guy plagarised your blog.
@brotan title looks good.

btw, bro. did you PMed him and tells him what you think? lol

gen-x, nevermind la, you already very popular among the credit card savvy.

For guys that did BT from flexi home loan, how does this work?

got such thing? never heard of it

Maybe i understand wrongly, in that they use the 0% BT to stretch their repayment for their CC and then put the actual balance into their home loan to offset the interest payment.

what bank is offering?

i said that if i am not mistaken

rofl.. ya it was either u, gen-x or other regulars.
I can't remember how it worked.

you still doubt how the home loan & BT thing works together?

No, understand now, prior to asking that was unsure.
Did a search and didn't really yield anything. but its okay now.

nice

btw, fyi i am maintaining 5x credit card. sounds a lot, right? every year need to pay RM 250 right?

And let's say (not real), each cc gives you 20k credit limit. and normally cc allow max 80% BT

So total BT credit available = 80k

But i figure it is worth to pay for the RM 250 per year becuz i can save much more by delaying the cc repayment and use that money for my flexi home loan.

Eg

If I can BT RM 40k (which is considered low already if i have 5 cc with 20k credit limit each), and repayment is 12 mths with 0 % fee / interest

Let's say my flexi home loan net interest = 5% pa.

The total interest savings = (5% x 0.6) x 40k = RM 1.2k

Note : The 0.6 is added because we don't really save the 5% in full becuz we have to pay back the BT installment every month. So i use a simple figure to simulate that condition


##########

So you can see above

CC yearly cost = RM 250
Flexi home loan saving = RM 1.2k

Big savings isn't it?

But pls take note that this is based on 5 cc. if you only have 1 or 2 cc, of cost the actual savings will be less but i am confident the savings will still be more than your yearly RM 50 / cc tax

Hope this help others to understand the logic here

This post has been edited by brotan: Apr 25 2012, 08:42 AM

hi brotan
if i use cc for purchase a rm$50K car - any 0%int deal
how about bt later on
any idea on this
someone suggested this on the old cc thread
thanks for any suggestions

car loan is cheap nowadays. No point going for bt