to do that you can BT rm800 to two different banks and after both BT approved, you will have -rm800 in one of your cc but with rm1600 balance that need to be paid off soon

10/12/12 morning submitted BT @ AEON for CITI and MBB2Amex
10/12/12 evening received call from AEON to verify the BT application
17/12/12 AEON send cheques to CITI and MBB
19/12/12 payment reflected in CITI account
20/12/12 morning, no payment to MBB yet.


CL can only be raised after 6 months of usage.

thanks for the updates~

anyone has tried bt to bsn?

i am a bit confused on the procedure

i called CS says only can be done by branch. but my friend says can be done by fax

thx

Great update.... Will be useful for those AEON CC holders wishing to use the 0% 6-month (equal Installment) Balance Transfer.
At least can estimate to Due Date..

hi all

i have added a "FAQ" topic on post #1. Just a compilation of frequently asked questions in this thread

hope you find them useful

thx

Hi all,

A bit embarassed here cuz my question going to be basic question. haha

i am more familiar with the normal fix installment type of BT where the BT amount is chopped into fix amount and you pay evenly in all your BT months. And the banks normally will lump your retail spending + BT due for that month and you need to pay that full amount or else normal interest will be charged on the balance amount you settle

for the reducing interest method, i understand the more you settle earlier, the lower the interest you pay

my question is, i read through that for this reducing interest method, you have to be careful if they have separate account for BT and retail spending vs combine both as 1 account

can someone elaborate with examples how both type works?

thx

Separate BT account is the best for Reducing Balance similar to CIMB.
As long as you settle the minimum 5% every month before the Due Date, you pay no additional interest.
Your retail spending is not affected as there will not have ADDITIONAL entries.

If the BT owed amount is together with retail spends similar to UOB (hate these type), you will "forever" owe RMxxx BT amount + Retail Spends.
Basically you can't use the CC for retail anymore or risk getting charge interest as there's always OUTSTANDING balance (from the BT amount)

Hi Ronnie

Thx for the explanation

just to clarify with some examples

Separate Account

Retail Spending
- will be charged like normal cc for outstanding balance (as if no BT)

BT Balance
- if you pay min 5%, you will be charged whatever interest charged for BT?
- so eg. if i owe BT 10k with BT interest of 0.5% per month, so as long as I pay RM 500, i will only be charged 0.5% on the balance 9.5k. Is this correct? if yes, if i don't pay the min 5% (RM 500), what will happen?


Combined Account

let's say you have Retail spending rm 2k + BT 3k and BT charges is 0.5% per month. Given below scenario, how does the bank charge?

- You pay RM 1k
- You pay RM 3k

thx

Yes for the Retail Spending.
Yes, if you don't pay the minimum you pay Late Charges Fee + Interest outstanding balance.

Some banks have payment hierachy to follow... payment will be used to offset the amount which has the highest interest due like Retail Spending.
If you pay RM1k, 18% Interest on Retail amount(RM1k) + 0.5% Interest on BT amount (RM3k)
If you pay RM3k, No Interest on Retail amount(RM0) + 0.5% Interest on BT amount (RM1k)

thx Roonie. Clear now

it's ronnie. not Roonie ... I wish I earned Wayne Rooney's salary

lol. ok Ronnie

Guys I am newbiew in BT stuff

got question to ask la.

If I have CC frm frm bank A
want to BT to Bank B

How can I do that ???
I was being that I need open CC frm Bank B hen can do BT

is it true ???

pls all sifu teach me

Yes, you need cc from Bank B in order to do BT.

hi

pls refer to the "FAQ" section on post #1. the answer is there

21/12/12 morning, checked Maybank2U, payment dated 20/12/12 already in.

12/13 BT form submitted by fax
12/14 No able to pickup call from Aeon
12/17 Get call from Aeon and deatils verified
12/17 BT approved at same day
12/20 Payment shown at online banking

payment shown on your other bank's statement?

what else ?