FAQ On BT Topics

In the spoiler are some of the most commonly asked questions in the thread. So I have compiled them here for easier reference as not to repeat the same question all over



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Listed below are banks current offering of Balance Transfer (BT) program

As I do this on a non regular basis, so if there is any update on the balance transfer offering or mistake in my post, pls let me know by PM so that I can update / correct it

Disclaimer : I am not responsible for any financial issues arise from using the information provided. As I cannot list down all the T & C impose by banks, pls make sure you double check with the banks on the BT topics before you make any of your decision

Thanks

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Banks Currently Offering 0% Balance Transfer



Banks Currently Offering <= 3%/yr Balance Transfer



General Balance Transfer Offering

Bank Name : Public Bank


Bank Name : Maybank


Bank Name : RHB


Bank Name : RHB Islamic


Bank Name : Aeon Credit Service


Bank Name : AmBank


Bank Name : Al Rajhi Bank


Bank Name : BSN


Bank Name : CIMB


Bank Name : OCBC



Bank Name : Standard Charted


Bank Name : MBF


Bank Name : Citibank


Bank Name : UOB


Bank Name : Hong Leong


Bank Name : Affin


Bank Name : Alliance Bank


Bank Name : Bank Islam



This post has been edited by brotan: Sep 10 2014, 09:04 PM

Do we need another BT Thread since all of us post and discuss the latest BT plans here.

TS, if you really serious starting a new thread for Balance Transfer Plans, at the very least you should do the ground work and post all the current Balance Transfer Plans instead of asking us (most probably posted already in the current BT thread).

And most of us here are only interested in 0% Balance Transfer


**Edited May 2014**

If you are new to Balance Transfer Plans, please click on the link below to my article The Best Credit Card Balance Transfer Plans 2014 - Facts You Need To Know. No two Balance Transfer Plans are the same as each bank/financial institution will have their own set of rules.

The Best Credit Card Balance Transfer Plans 2014

This post has been edited by Gen-X: May 17 2014, 12:13 PM

Bro,

I did found that thread before but it is difficult to know at a glance what is the current offering by banks. Have to scroll through each post to find out and that is troublesome

Thats why I want to create a thread that consolidate the existing offer on 1st page

This way easier for people to compare right?

There is a thing call SEARCH - go try it out. Key in 0% BT and you will get the latest posts.

Ok lah bro.

Since although I am sincerely trying to give (in my opinion) a value service to lyn but nobody appreciate it, I will close the thread by tomorrow

unless someone else told me before I close that they think this effort is valuable and would like me to go on

Bro, since you sincerely want to offer your service. I vote we close the other thread (as the TS disappeared long ago) and we have this thread instead to discuss about BT. Good also we have the latest BT offer in first post.

Anyone one else want the second my proposal?

Agree! The other BT thread open more than 2 years, it is time to get a fresh one since someone going to take responsibility on it

3rd that suggestion

BT from UOB (via phone call to CS yesterday)
Reducing Balance
min 1k, min 6 month with 0.499% p/m

Fixed amount
6 month 3.33% of BT amount
12 month 6% of BT amount

MOD or STAFF, what's your take? IMHO, no point having 2 BT Threads.

TS better be updating the first post


How is yours a third suggestion

aye!

Old BT thread closed. But if any of your that may want to refer to the old thread, here is the link.

By the way, the TS of that thread is still an active member of LYN. Just that he hardly stops by here now

Dun get hsbc bt plan. I kena be4 not even halfway thru the plan they changed terms and condition!

I paid 3% to bt, its a 1 time off thing n r u supposed to divide the bt into the 12months repayment. It was fine during 1st few mths then suddenly i kena interest charges! The excuse is they change terms to settle the bt amt be4 retail! Walau i tell u if i know i wouldnt even bt! How can they simply change!

Then i paid up everthing n close the acc, think it was 20k ++ n extra summore to avoid further interest. U know wat they did? Instead of returning the extra monies i paid they put it as MISC charges the exact same amt i paid extra! N charge me interest! Instead of deducting the additional monies i paid for interest! I called up to ask wat is the misc charges? Y exactly same amt as i paid extra to ofset any interest? Y chrage me interest summore? The cs said he will waive the interest. But hello! Even after deducting the intetest u still owe me money!

Blardy cheating bank!

Thank you.

brotan - since you ask for it - please check out the links of BT plans in my article below and update the first post.

Credit Card Balance Transfer Plan 2012 - Gone is the best 0% Interest Free Loan.



The HSBC BT was discussed in the previous Balance Transfer Plan where we talked about payment hierarchy and interest being levied even if one sign up for 0% BT. That's why no one got excited when HSBC offered their "0% BT" last year.

I pointed it out once again in my latest article on BT mentioned above. I suggest you read my article above so that you won't fall into a similar trap in the future. The most important thing to note is - will there be a new account created for the BT Plan.

This post has been edited by Gen-X: Mar 23 2012, 09:41 AM

HSBC 0% BT is good IF you dont use HSBC credit card for any transaction until you finish settle your BT

This post has been edited by gerrardling: Mar 23 2012, 09:47 AM

Thanks for your trust in my effort. will do my best to give a good service here

Will update something today

I think the statement above applies to all BT plans that do not create a new separate account and not based on fixed installment with upfront interest. Have to be extra careful when signing up for BT plans with foreign banks. e.g. UOB and OCBC where 2 other members reported they were charge interest for new transactions, as mentioned in the previous thread.

However, I think it is a waste of time signing up for a card and then don't get to use the card if we do a BT. For example in HSBC case, if we don't swipe 12 times, annual fee will be imposed and we got to call for waiver. Not only that, if one sign up for a card purely for BT, there is a RM50 GST to take into consideration too; and if got early settlement condition, may have to pay again. And HSBC cards do have discounts at merchants, so I guess if we want the discount, have to treat our HSBC credit card like a debit card - swipe then fast fast go ATM and pay it up OR deposit money into account first(?).

Looking forward to you updating 1st post

bro,

updated a few items. also change the format a bit

do let me know what you think of the format

would be good if more details such as: payment hierachy, create new BT account... to be included.

sorry, don't understand what you mean by that.

did you open the spoiler? quite a lot of detail info there

ah.. at last a proper "0% BT".. or not all is 0% thread has been created...

i was wondering why did the previous BT thread that has totally no information on the first post still exists and everyone else have problems on this thread~

nevertheless, kudos for the new thread...

back to first post...

Your am-bank list have problems... the spoilers

Same goes to your AEON spoilers also.

Do check ~ it has links to pbb and AEON/AM-bank too~

thx bro for your recommendation and correction

was copying the format from pbb but too many codes until my eyes a bit

haha

Good job Bro, considering you only had one BT Plan posted this morning. I am only interested in the spoiler for the 0% BT Plan

Good that you gave links to the Banks in other relevant spoilers so that it is easy for those interested to go check out the terms and conditions. And if a person failed to read the terms and conditions attached with the BT Plans, then he is himself to be blamed when interest is imposed. And if one does not understand the terms and conditions and too lazy to read my article on BT to gain some info on different type of BT, then he/she deserve to be a slave to the bank, hahaha.

haha, this is only just the beginning of your free service, more to come

Hi genx I think u didnt read properly
Yes, you are right about HSBC's BT.....but when i did it, the condition was DIFFERENT.
As i said, it was fine for the 1st few months and i read the fine prints where they said the BT amt will be charged differently, which they did, for the 1st few months. Until the promo ends, they CHANGED the TERMS halfway thru.
1st few months, i paid the normal retail and monthly BT without any interest charged, so this was exactly wat i signed up for. So i am saying...HSBC likes to change their terms anytime, so even if u sign up for a contract with them, its up to them to change the terms as they like and they WILL DO IT.

And another worrying thing is the fact about the EXTRA i paid to offset interest. There is NO REASON for them to charge me MISC FEES out of the blues the EXACT AMOUNT i paid extra to offset the interest, and CHARGE ME INTEREST, and CANNOT EXPLAIN what is the MICS FEES all about?

Did they call you or need to fill up any form to do BT ? You can forward this to BNM actually if there is any black and white or any proof

You are right, I was blur. Now I fully understand what you meant. Wah, HSBC can change T&C half way? But then again when HSBC offered me the 0% BT last time, they never gave me the impression that it was truly a 0% BT. I could not figure out what the guy was trying to explain about hierarchy thingy and he ended up telling me not to worry. Why does one need to worry in the first place when doing BT? Luckily I never bothered with HSBC, else may have ended up in the same situation like yours.

Anyway, with what mIssfROGY shared with us, those of you thinking of HSBC BT better be prepared for headaches.

gerrardling - you did any BT with HSBC? If yes, did you encounter any problems?

Yeha....mine wasnt the 0% one. Mine was way be4 that, way be4 when no banks was doing a 0% thingy and the terms was totally different. It was like the EONBANK's one, i was charged a 3% NETT one time off and prepayment within 12 months, divide equally.

When i asked y they suddenly change the terms, they said "COZ EVERY OTHER BANKS ARE CHARGING LIKE THIS, SO WE HAVE TO" like huh?!!!!
Then i said i will complain to BANK NEGARA, they say COMPLAIN LA...nothing can be done.
Then after that citibank called me to offer me some BT thing, i said.. NO BT and told them the story about hSBC. And the CS from citi told me that i should complain to Bank Negara.

Thing with Malaysia.....when u do complain..sometimes you will waste more time and money and energy and get nothing in the end.
Last time i did complain of something when right up to MCA summore and came out in the papers .....u know what i got in the end? GOT SUED lol!! sighhh...MCA sucks too.....LOL! MChong says help...all those are bull****....help to look good in front of papers, at the end help nothing ...sendiri makan tahi. Oh well..soorry out of topic

no. i didnt. Just want to help her if she did filled the form and she still has the form along with the T&C, she can forward it to BNM

yes i DO have the form...its in my email. They mailed me thru email, everything was done thru email and phone.
But like i said, i lazy to complain....tired of malaysia's ways fo doing things...later i kena sue again for nothing...
its not the $....i got no time to go to court that last for few years

This post has been edited by mIssfROGY: Mar 23 2012, 06:46 PM

updated 1st post

added bsn & al rajhi bank

added 0% bank transfer offering entries

balance on AMEX can be transfer also? bank will recognize the number as AMEX?

for my case, i balance transfer my mbb amex to pbb. ok. np

TS, add in MBF balance transfer also

ok. will check it out later

bros,

updated MBF card but their BT plan very weird lah...

anyway, i tried my best to describe it

citibank no BT plan?

Will check and update later

Bro, fantastic job so far, even got CIMB - NA

Next month you got to update again

i just try my best

btw, i wish other LYN members can help me out by providing the actual latest BT plan. at least i don't have to call the banks all the time



hopefully everyone can chip in to bring this thread up to date

btw, did you notice i add a new spoiler which is the <3% rate per year BT? so even no 0%, 3% would be good enuf. at least beat your flexi home loan rate

This post has been edited by brotan: Mar 29 2012, 03:51 PM

hi all,

Citibank updated. pls check

Added OCBC, UOB

pls check it out

great job bro~~

salute to ur commitment to this thread

Good job, Keep it up TS bro, but don't be "3 minutes of heat " LOL...

i won't if i am encouraged i feel i create value for LYN

nice stuff ts. keep up the good work.

tx bro for the encouragement


anyway, just updated something

1) added hong leong and affin bank
2) updated new items for <3% per year BT

Enjoy

Added Alliance Bank

Brotan, where is the link for Alliance 2% pa interest for 24 months BT?
I remember the deadline was 31st March but seems they have removed the plan much earlier.

And FYI, SCB 1.99% pa interest for 12 months BT is for new to bank customer.

This post has been edited by roy918: Apr 1 2012, 05:18 PM

i called them for that. it is not in their site

for scb new customer offer, when is the promo end date? any penalty for early settlement? min amount?

This post has been edited by brotan: Apr 1 2012, 05:20 PM

Hmmm... Alliance Bank ended one of its 0% installment plan (though not BT) earlier than the published date last year.
So, I'm not surprise if they did it again. But will check it out if they still have the BT plan.

I only know the SCB BT for new customer, and do not ask further since I'm not new customer.

hi all

new updates

Pbb BT extended till 30th Jun. No difference to current offering

I think HLB is not 6.99% one time interest, it is 6.99% p.a. but I'm not sure whether the way interest is calculated is fixed or reducing like the standard credit card interest (18% p.a.). because if only 6.99% one time and lifetime interest, I will be the first one to apply

Hi,

I actually called them to find out about this before I wrote on my first page

I also curious about this one time thing. The agent confirm it is really 6.99% one time cost and they don't force you to repay with a specific timeline

You can owe them forever. haha

anyway, best you called them to double confirm

oh thanks for the info

Np

Th customer service you talked to could be very misleading... which bank is going to let you owe them forever at one-time 6.99% ?
Langsung no logic

bro,

I double confirm by giving her different scenario & examples. All point to my understanding

But you are right, she may confused herself. haha

would appreciate a third party to call them and double confirm.

You can't really hutang them forever, you will need to pay 5% monthly, bank are not stupid...

true but if the 5% you pay covers normal retail spending, then really can hutang forever right?

eg if BT = 1000

you spend = 3000

total = 4000

5% = 800

if you pay 800, then they charge you interest on the 2200 (3k - 0.8k)

but they don't charge you on the 1000 BT

Possible?

are you sure the PBB 0% BT still valid? the form on their website shows til 31 March 2012...

Yes I called them

I used their bt plan heavily (loyal customer )

Thats why I need to find out asap

congrats TS for this thread
good info you give at the first post
keep up the good work

tx bro

do give inputs for further improvement if any

great input. Thing is clear

I think is the mistake by customer service, you may read term and condition on the website
http://www.hlb.com.my/promo/pfs/cc_balance...nsfer/tc_en.pdf

8. Upon transfer of the BT Approved Amount to the Cardholder(s) BT Account, the interest of 6.99% p.a. will be calculated on a
daily basis and charged on the balance of the BT Approval Amount until the date of full repayment.

- the interest will be calculated daily basis, 6.99% pa, means it will charged you yearly 6.99% reducing rate.

9. The Cardholder shall be obligated to pay the minimum payment due in the BT Account or RM50.00, whichever is higher. If the
Cardholder fails to make payment on or before the due date, the Lifetime 6.99% p.a. interest rate will be retracted and interest
at 18% p.a. will be charged on the amount outstanding in the BT Account on a daily basis until full repayment. Failure to comply
with the minimum payment obligation will also result in a late payment fee of 1% of total outstanding balance as at statement
date or minim

- This one is f***ed, if you forget or failed to pay minimum payment 1 time, your 6.99% gone and become 18%. LOL

This post has been edited by myAccountLowyat: Apr 10 2012, 01:47 PM

FoodstuffLet me call then again to clarify

SCB BT 1.99% still available?
I just called the sales team. They say no more.
But the website still posted.

which bank(s) currently got promo 0% balance transfer for new card application?

UOB

the balance that I wanna transfer OUT is with UOB

Hi guys,

i just called HLB just now

again this agent confirm you can owe them forever the BT for the 6.99% one time fee deal

The T&C says you still need to pay finance charges as long the amount due is still not cleared, right ?

nope. no need

eg if you BT 1000 and no retail spending, then statement = 1000. you still need to pay min 5% which is RM 50 but the balance of 950 still interest free

and if you do spend on the card, let's say 2000. then the statement balance will be 3000. if you pay the 2000, then the balance 1000 BT still no interest

i already give this scenario to the guy and he confirmed my calculation is correct

and i already call them twice (including this time), so must be ok kua?

anyway, before you commit yourself to this kind of stuff, pls double confirm yourself

i take no responsibility in any financial loss (or gain) from my info

Agreed ! That's the term I heard from HLB regarding about other balance transfer program but they didn't mentioned anything about the revised interest rate applied if we didn't manage to clear the outstanding balance.

Bro,

I already give scenarios to test my understanding their one time interest thing twice and both gave me same answer

Since I dont have hlb cc, I can't confirm in real situation which is correct

Would appreciate any lyn members with real experience pls share

I called up earlier just now but when I asked them about this promotion - they only offered me with the existing promo plan ranging from 6 - 12 months with the interest rates starting from 0.5% - 1% per month. Will this promo entitled for new HLB credit card subscriber ?

I didn't ask if it is for new customer or existing. And they didn't specify anything about that

Did you ask specifically on the one time fee or you just let them talk to you what they have?

If we BT amount of RM20k, you can pay finish in 80 months (6 years, 8 months)
Good deal if it's charges only one time 6.99% only.

4% p.a. FD x 6 years = 24%
Profit : 17%

Is that so? I really doubt it.

Taken from T&C:

Bro,

I called them twice lah.both different date, different agent but both give me same answer

So how?

Anyway best to settle this confusion is for someone to try it out

Any volunteers?

i would say the T&C has the final say..

Hi All Sifus

Need your advise here..

Currently i got 2 CC and got o/standing total of 8k..
I really want to settle all the debt but can't afford to settle it by one year..

Personal Loan / BT? which one is better?
Personal Loan rate the best i can get only 7.50%

My basic pay was 3k
Can't afford to apply those platinum cards..

This post has been edited by DET_D5t: Apr 17 2012, 12:25 PM

of cos BT...

bro,

1st thing 1st. whatever you plan to delay the repayment, you MUST be discipline to control your current spending to clear the 8k debt by reducing your monthly spending. Or else you will be in a deeper mess next year

anyway, i would suggest you try the BSN cc. on the 1st pg, i listed the zero interest options. you can check it out

tx

Ya that's wut i plan to do rite now..
I already dump the cc in my drawer, but i thinking of saving in term of the interest..
Currently being charge 13.5% interest p/month..

BSN? it says would ended in April 2012.
Would i make it?
need to apply the cc first, & then can BT..

Normal gold card only can give 6k credit limit.
And for BT only 80% of the credit limit can be utilised rite??

they say normally auto renew the plan. so i would guess so be long lasting

brotan,

Please remove SCB, this 1.99% is applicable for new member only.

you confirmed right?

anyway, i updated with a comment for new application only

tx bro for checking it out

This post has been edited by brotan: Apr 18 2012, 04:55 PM