Yes, I think you could wait for a few more days more.

First and foremost, M2Card's annual fees is free for life.
It is the GST that you have to pay every year. However, you can redeem 10k treat points to offset the GST.

I'm not in good and I don't wish to learn how's the interest calculation.
In short, you will be living in debt and your hole will be deeper and deeper.

I don't think I can make it though.
My priority is still AmEx.

This post has been edited by fruitie: Aug 5 2012, 06:38 PM

Just pay the Statement Amount Due before Due Date and you don't even need to know how they calculate the interest.

i see some shops offer monthly installments in buying tv using credit cards. the shops say 0% interest for 12 months. how is that 0% possible when the bank already charge 8.88%?

Those are whereby bank already paid on your behalf to the merchants.
You only pay back to the bank, so if late payment and not full payment will incur interests.

8.88% is the interest charge to your acc when you not settled the amount due in full.

Example:
You purchased RM12k with 0% for 12 months on 5 Aug 2012. Therefore, monthly installment is RM1k. Let say your statement date is on 10th every calender month. Therefore, you need to pay RM1k every month for 12 consecutive month before 30th of every calender month (20 days interest free from statement date).

If you not pay in full on every 30th of calender month, then the interest charge come in (8.88%). In short, as long as you pay in full before statement due date, every retail purchase or EPP 0% is really interest free. You just need to pay RM50 GST every year for your card.

Thank you Bro, save me the time to click and paste the link


But with MBB 2 AMEX, spend RM2K = 10,000 points to offeset GST. Spend another RM8K get 40,000 TP can redeem about RM200 cash vouchers


Read my articles Credit Card Beginners by clicking on the link given by Human Nature above and by the time you graduate by completing the free tuition, you'll be an expert on credit cards that is if you can understand what I wrote, hahaha

The 5% or usually RM50 is the amount you must pay before the Due Date. If you pay less than this amount, your credit history will be tarnished. You may face difficulties in getting future credit facilities like car loan, housing loan and even more credit cards.

The 8.88% is the interest rate that will be imposed onto your Outstanding Balance if you fail to pay in full before the Due Date. If you pay in full the Outstanding Balance stated in your monthly Statement before the Due Date, no interest will be imposed.

Since you are new to credit card, here is some advance info before you read my articles:

1. If you got M2U, Do Not opt for paperless statement i.e. view Statements online. Get paper statements for few months so that you are familiar with the terms Statement Date, Due Date, Outstanding Balance and other terms. You still can view your transactions online at M2U even tho you do not opt for paperless statement.

2. Once you get your Paper Statement, look out for the Statement Date. - What you will notice is that all transaction(s) you made before this date is(are) shown but not the ones you did after that. For example. Your Statement Date is on the 10th of August 2012, and you did a transaction of RM100 on 9th August 2012 i.e. before the Statement Date. You also did a transaction on 11th August for RM200. Your Statement will only show Outstanding Balance of RM100.

3. So on 15 August you receive your Statement by mail. You will note Statement Date 10th August 2012, Due Date 30 August 2012 and Outstanding Balance RM100. The RM200 transaction on 11 August won't be shown and you do not need to pay this until the following month.

4. You have to make minimum payment of 5% or RM50 (can't remember if MBB reduced this amount to RM25 or whatever). Since 5% of RM100 is RM5 only, Your minimum payment shall be RM50 and this will be reflected in the Statement you received.

5. Make payment of RM100 (Outstanding Balance) before Due Date 20th August 2012 and you won't be imposed a single sen of interest.

6. But if you only make payment of RM50 (the minimum amount required), you will then have Outstanding Balance of RM50 and this mean you have given up your rights to the interest free period and you are then imposed interest of 8.88%. And the RM200 transaction you did on 11 August may be subjected to interest.

7. Conclusion - Pay in FULL (amount of Outstanding Balance stated in your Monthly Statement) every month before the Due Date and if you cannot to this, go cancel your credit card; because, if you pay interest to the bank because of credit card usage, it means you working for the bank and you getting poorer by the day.

This post has been edited by Gen-X: Aug 5 2012, 11:27 PM

thanks to everyone for the clear explanation.

hi guys, may i know the cash rebate is based on transaction date or posted date?

Please refer to the first page. Thanks.

MBB minimum payment is RM25.

Maybankard 2 cards had no annual fees.

When normally does your hardcopy statement arrive monthly?

It depends on your statement date. Usually a few days after they hand it over to Post Office people.

I just saw your post after i have tried it, mine rejected as well, now thinking to pay online using other card, or wait for their roadshow and pay with amex...

Use my other 5% Cas-back card to pay online.... nett 10% discount

can we top up prepaid using amex?

still haven't received any info regarding paypal. already 2 days. i guess i need to wait another day.

by default, will we receive hardcopy statement? AFAIK, hardcopy statement will be charged... therefore opting not to receive it, can use online statement.. need call them to cancel hardcopy statement? or no need?

For Maybankard 2 Cards and most MBB credit cards - Hardcopy Statements are FREE as long as you don't go opt for paperless option in M2U. Once you opt for the online statement then different story. So don't go opt for online statement and you will get FREE monthly statements via mail plus you can view your all your transactions too at M2U.

Some Maybank credit cards by default only issue paperless Monthly Statements (if not mistaken MU credit card), so that one yes, you will have to pay for hardcopy statement.

This post has been edited by Gen-X: Aug 6 2012, 01:08 PM

nolah...bank statement dun get charged...unless u ask for adhoc statement. monthly statement dun get charged

not like telco....