Should avoid BT program which lumps the BT amount + Retail amount in same CC account 

The problem if UOB doesn't provide a separate BT account , you cannot use the UOB CC as the BT balance will incur interest charges every month if you settled all retail purchases on time

Just be careful.       

Hi Ronnie,

a bit confused.

I am using PBB which combine BT & retail spending under 1x statement. So far no problem because they always give me the final statement how much i should pay (retail + monthly BT repayment) each month. If I settle that, no extra interest

I have the same experience with Maybank (and now also RHB)

Anything that I miss out?

As pointing out by gerrardling, there's 2 type of BT repayment
1. Monthly fixed amount aka installment
2. Reducing balance.

Maybe TS can add this info on the 1st post.

According to what she mentioned to me yesterday, an example of the following :-

- Balance transfer amount of RM4,000
- 1% Upfront payment which is RM40
- Total will be RM4,040 and divided 12 months repayment, must be punctual if not it will be revert back to the ordinary credit card interest rates.

Bro

You are really stretching your financial limit

Yes, now it seems you are able to bt and pay a bit without problem but there come to a point where you have reach the max limit allowed to bt

At that point, you are forced to really pay your bt installment and I think you will be in big trouble unless you have a big savings somewhere

Imagine today you must at least pay a single payment which assuming 12 months installment, meaning monthly repayment is about 2.5 k

Your base salary is 3k

how are you going to survive with 500? And if you pay partially only, that's where all your biggest nightmare begins.

Partial or missed payment will allow banks to charge you high interest rate and your debt is going to spiral out of control

I called the bank today and they said got no such promo. Perhaps only selected customer?

I called the bank today and they said got no such promo. Perhaps only selected customer?

Hi Ronnie,

a bit confused.

I am using PBB which combine BT & retail spending under 1x statement. So far no problem because they always give me the final statement how much i should pay (retail + monthly BT repayment) each month. If I settle that, no extra interest

I have the same experience with Maybank (and now also RHB)

Anything that I miss out?

Hi guys,

I would like to know if:

1) HSBC 5.99% for 12 months is worth to be considered.
2) My HSBC credit card has 10.5K credit limit, does that mean I could only transfer max ~8K from other credit card?
3) Calculation part:
  E.g.
  8,000 + 5.99% = 8,480
  Repayment = 8,480/12 (~RM707/month)

Is that correct? Would appreciate if the BT gurus here are able to enlighten me with this.

Apologize in advance if I asked stupid questions.

Thanks for your help guys.

patricky

Can non-bumi apply Bank Islam CC?? Just for BT purpose & not using the card though.

Hi Guys,kinda getting confused on what i could do at the moment so heres my case,

i have two credit card (HLB & PBB) which i wish to settle within 24 months via balance transfer.

so here's the question:

as mentioned earlier in this thread,you cannot perform BT with the very same bank with your CC issuer,and by regulations we're bound with maximum of 2 CC,does that mean BT is no go for me?

and if possible,what option do i have?

appreciate the answers

quite confuse with ur statement is is Non-Bumi or Non-Muslim...

i think both Non-Bumi and Non-Muslim can apply any Islamic related financial product.

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Added on May 31, 2012, 2:07 pm

if i not mistaken only for person with income <RM24k/year cannot have more than 2 CC. But if you see the Application Form it state that any person with <24k can apply with condition after approved, you must cancel one of the CC that you own.

Those with <RM24k/year is not allow to hold any credit card, those who income in between 24k<= X <= 36k only allow to hold credit cards not more than 2 issuers