Is this mean process to BT application before statement out or statement is already out but provided other detail??

Paper statement is a MUST for BT application, right??

cash advance from CC is another animal lo, i believe what we do here is

1. swipe x amount
2. we have x amount in cash, put in FD
3. BT x amount to another bank and pay in installment with 0 interest.

Problem is are you discipline enough to save the X amount, most people would just continue to use for other stuff as it appear as extra cash on hand.

This post has been edited by bearbear: May 19 2014, 01:48 PM

bearbear,

thanks for clarification. i thought u guys has come out a better way.

Yes, that's the method i am using.

1)on yearly basis, i pre-arrange all my&wifey+parents ins premiums (personal&HP) on auto-debit(s) same month, all to a CC card.
2)then always have my direct access or rhb ready for BT.
3)dump the PRE-12-months ALLOCATED premium monies to FD; and
4)pay 0%-6mth BT.

so far benefited from this own designed cash-flow since 2009 (pre-planned&timed CC auto-debit since 2008 tho)

For BT user(s), its free gain with just a min effort in cash-flow management.

Well lately sifu here has teach us about double BT as most bank accept looping of BT regardless of the nature of your outstanding. I am in manufacturing line and this is like the breaking your big problem down to small problems approach in financial term.

Your direct access or rhb ready for BT is always 0%-6mth BT?

yup, for the last 7yrs, i only missed 1yr where both bank not offering that time. my BT month is always on Mar yearly.

normally, both DA & RHB will have this 6mth-0%. if not at least one of them will have.

Thanks.. Very good planning of you to fall your BT on March; as I think normally bank BT-0% promo normally falls on the early quarter of the year.. Too bad..most of my insurance normally falling at End of the yr..

This post has been edited by leo_kiatez: May 19 2014, 05:00 PM

Anyone has tried before BSN BT 12mths(First 6-mths 0%) or 24mths(First 12-mths 0%); Any comments?

From their BSN website BT FAQ, it seems that NO Early Settlement Fee for BT, How true is that anyone can confirm?
"9. Is there any exit fee charged for CardMembers who opt for early settlement at any time?
No fee will be charged, however the whole balance of the installment amount which
includes the outstanding principal and interest/facility fees will be charged to the
CardMember’s account."
Below is the FAQ link:
http://www.mybsn.com.my/formdownload?formDownloadId=228

This post has been edited by leo_kiatez: May 19 2014, 05:05 PM

wat is DA? is it also not other charges like the RHB?

direct access, now known as CIMB.

you can talk to insurance co. they can do the adjustment.

in that year of adjustment u may be paying more eg say16mth or maybe lesser say 9mth depending ur current cut-off to your new intended month for the following year.

actually how the bank can earn if they offer 0%?

DA - Direct Access CC from CIMB bank now. last time it was issued by Southern Bank. It was one of the very rare free-for-life card issued back then.

i think, they earn when u still have unpaid balance after BT period ended.

they can't, hoping you don't pay up when it is due is the evil plan.

haha... but if the credit card holder change their mind and pay earlier, then the bank must rugi.

the bank are investing on the attitude of the card holders.

Latest one offered by UOB is reducing term

Yes, exactly as per bearbear explanation below.
Nice production line u got there.

Direct Access was the first to introduce "free-for-life" CC