you can't BT within the same bank

it just mean you need a maybank cc to BT from other banks

in principal, you need at least 2 credit card from 2 different banks that offer BT plan (pls refer to pg 1) only can perform BT

This post has been edited by brotan: May 16 2012, 05:48 PM

i think this is personal loan

and normally personal loan interest is pretty high

yes

a newbie question, zero % balance transfer =
amount transfer divide by month of payment equal monthly commitment?

Answer : Yes

and x% =
(amount transfer multiple by x%) divide by month of payment equal monthly commitment?

Answer : Your "x" is if they charge fee? if yes, they normally charge that amount in full on your 1st installment

Sorry, I'm weak in money so i'm now doing debt reconsolidation.

hi bro,

pls read carefully my pg 1. for standard charted, it says "for new application only". and i double confirm by calling the bank just now. still valid

bank islam is 12% per year? you sure bo? the bank islam i just call this week

This post has been edited by brotan: May 18 2012, 10:12 AM

Agree with you. I am not so free that i call every bank every week to update the latest info

Although I am TS, I expected every forumer who are interested in BT topics to help contribute to this thread by giving an update on any changes over time

this way everyone will benefit from the info provided

Bro

Pls refer to pg 1.so many info there

hi bro,

i double confirm with their cs. it is for new customer

maybe officially it is for new customer but in actual practice to retain existing customer, they offer on case to case basis

i don't know

Normally banks allow bt up to 80% of your credit balance

meaning if your credit limit is 20 k and at the time your bt application is being processed, in total you still owe the bank 16k (unpaid retail spending, balance installment, balance from previous bt), then in effect, you can only bt 3.2 k max (4k x 80%)

I normally lazy to calculate, so before I bt, I always call up the bank and just ask what's the max I can bt from today perspective. And I plan my bt amount accordingly

---

Added on May 20, 2012, 1:02 amLooking back at your question, it seems you want to ask if possible to apply bt even if no spending at all?

If yes, just curious.why you want to do that? I don't see any benefit at all. if you are thinking of doing this for cash advance propose, you will still be charge cash advance fee if not mistaken

Pls don't do this kind of weird stuff. Not financially sound

This post has been edited by brotan: May 20 2012, 01:02 AM

bro,

You still owe RM 30k with RM 3k salary ?

Are you just trolling or you are serious?

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

This post has been edited by brotan: May 24 2012, 09:41 AM

that one is for bank islam bro. pls read carefully

for this case, if you BT RM 1k, then this is the min monthly repayment (on the BT only. Retail purchase repayment you need to pay in full or else you will be charged interest)

1st mth : RM 50
2nd mth : RM 50
3rd mth : RM 50
4th mth : RM 50
5th mth : RM 50
6th mth : RM 750

if you still pay RM 50 on the 6th month, then you owe the bank RM 700 after the completion of the BT program and they will charge you normal cc interest rate which is totally a no no

Anyway, best you call their CS and double check. Don't trust me only. I may have wrong understanding and give you wrong info

BSN (i know they are not so "hot") but if you put aside emotion, they offer great BT value

I don't know about other banks but my experience is to send in the application by email is the best way

Bro

Is this the latest promo or only for 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 bro

i don't know about hsbc but in general, banks allow BT up to 80% of your available credit card balance

eg credit limit = rm 10k

total BT still owe to bank = RM 3 k (note : this is not the monthly installment amount. this is what you still owe them)
total retail spending you haven't paid = RM 1k

credit card available balance = RM 6k (10 - 3 - 1)

available for BT = RM 4.8k (80% of RM 6k)

hope this helps

P.S. Different bank might have different policy. pls call your bank to find the real method

actually if the spending is not big, it is better to consolidate all spending to a few cc. at least this way, you can qualify to BT since normally BT need a min amount

New regulation?