in general, doesn't matter new or old card, if got charges both situation will get charged. if no charges, both situation will not be charged

some banks offer good BT rate to new card holder (eg like cimb offering now)

so in short, check with the bank directly. you can check post #1 as a reference

If you refer to new to bank, Cimb 0% 6 months BT, then answer is no.
There will be no extra charges.

Hi Titan Gunners,

I quoted this from http://genxgenygenz.blogspot.com/2012/09/c...hs-balance.html

6. In respect of this balance transfer programme, from the first day of the seventh (7th) month from the date of the Approved Balance transaction is posted to cardmember’s CIMB Bank credit card account, CIMB Bank shall impose finance charges on the outstanding balance. And since you are a new card member having account with CIMB for less than 12 months, the interest rate shall be 18% p.a.

Does that mean there will be charges right? if yes, it defeats the purpose of having a BT already isn't it?
is it the same for all banks? as I am planning to go for a 2 years repayment.


Any bank to recommend?

Thanks in advance.

of course laa you got charges when you still not finish the payment on 7th month after the approved date of BT, since the 0% only for 6months, after that you will get charges. If you want to BT for 2years period, I think the best one is BANK ISLAM since they got 5% charges for whole two years and the min transfer only rm1k. so its depend on you. I never find 2years BT without charges unless 0% 12months which maybank got before.

As my reply before, new to Cimb customer entitle for 0% 6 month balance transfer, not longer period BT > 6 months.
As we do not interested in BT which need to pay extra charges, let others to advise if you need BT for 24 months.

The 6-month 0% BT for CIMB New customer mean you can only do 1-time BT only, right ?

Yes..

the scenario,

Bank A - oustanding 4k, cc limit 5k
Bank B - oustanding 4k, cc limit 5k
Bank C - oustanding 3k, cc limit 5k

I want to do Balance Transfer to Bank D. Is it possible? Because my cc limit is only 5k for all the banks.

This post has been edited by fookiat: Oct 2 2012, 10:43 AM

what's your Bank D cc limit?

If your bank D credit limit is more than 11k, then this is okay to BT.
If no, example 8k, only can BT max amount 8k to bank D.
Pls take note, not all banks allow BT the max credit limit of the card.

thanks for the reply.. means i need to apply for a card with limit more than 11k

This why BT is "evil" creating more debt for people who can't control CC spending.

It's only for those who dare to literally "cut" his/her cc once BT is successful.

well it's just a useful financial tool,. if cannot control and dig a deep hole, then blame ownself.. not the tool..

well.. my second BT from MBB to Aeon just got approved too from Aeon and lets see Aeon will take how long to send the cheque to MBB...

to me, i think by using this BT, one got to be fully discipline in controlling ownself finance for this 6 months/ 1 year or even longer until the BT is fully settle and it is like back to those day when u got to pay ur monthly car loan installment time...

but when BT is finally over and u will eventually feel relieve and proud of urself that you can make it lar...

which banks offer BT to existing card holders?

You can refer on 1st page.

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Added on October 3, 2012, 5:47 pmGot offer from BSN for their gold credit card. One of the feature is the 0% Balance Transfer for 12 months up to end of this year.

This post has been edited by kurtkantoi: Oct 3 2012, 05:47 PM

u sure 0% for 12months?any minimum balance?

BSN don't have any 12 months 0% BT, it only having 6 months 0% BT. If you want 12 months you will get charge with (0.30% per month with first 6 months 0% interest)

http://www.mybsn.com.my/content.xhtml?contentId=136

that's y I ask if he sure about it or not, or maybe he got special offer from bsn