Its all about luck la, we wont be swiping every seconds anyway... may the lucky fella win

Haha i got 1 today

Considering to switch to Citibank Reward card. Anyone know the value of the 10, 000 reward point in Citibank?

Hi guys! just gotten my citibank cc, already been charged with RM50 GST, there's no way to get that waived right?

Just called Citiphone to have my annual fee waived for my Cashback plat card, but the unfriendly citibank phone operator said "no we can't help you waive the fee sir, you have to pay RM190 for it"
I was like what? I've been using the card for 2 years now with average 1-2k spending per month... Never late in paying my bills too... this is ridiculous... I having the card canceled!

yeap, requested to waive RM190 for CB..
CS replied "im pleased to waive your annual fee this year .. Thank you'

haha.

I've been a user of Citibank Cashback ever since it came out (4+ years I think?) and this time, they refuse to waive my annual fees.

Spoke to 2 CS personnel, both reverted with the same negative response. One commented that "marketing dept not offering any waiver for this product this year".

I consistently use my card at least 4-5 times a month so it can't be due to inactivity. In any case, I requested for a cancellation and they did so without hesitation. So long, Citibank.

A CC is meant only as a convenience mode of payment as opposed to using Cash. So instead of carrying a few hundred bucks in your wallet, you use your CC when paying for petrol, when dinning or doing your weekend shopping. Do not use your CC to pay for things like say a TV if you do not have the cash to pay in full when the Statement arrives.

By paying in full, you will always enjoy at least an interest free period of 20-days when the statement arrives and if you can play your purchases wisely, you can effectively stretch this interest free period up to 50-days.

If you refer to my Sifu Gen-X Blog.  Assume the following:

Statement Date is on the 10th of every month.
You have 20-days to pay from Statement Date

Scenario 1

You make a Transaction, say Petrol of RM80 on the Jan 8 2014
Transaction will be captured in the Jan 10th Statement
Statement arrives on Jan 13 2014
You have until Jan 30 2014 to pay
Your interest free period is for 22 days from Jan 8 to Jan 30

Scenario 2

You make another Transaction, say Petrol of RM100 on the Jan 12 2014
As this is after Jan 10, it will only be captured in Feb 10 Statement
Statement arrives on Feb 13 2014
You have until Mar 2 2014 to pay
Your interest free period is for 49 days from Jan 13 to Mar 2

So, you can keep the cash in your Bank and earn some interest, however little it is. And, if you use the right CC, you can actually make money in terms of Cash Back and also points and some of these returns, are in fact HIGHER than Fixed Deposit Rates.  The Maybank2Card using AMEX can give you up to 7% returns when used on weekends. Now tell me, which FD can give you 7% returns.

Wow, you’re saying, using CC is so good, how can there be free money.  Well these free money comes from Revolvers, meaning people who cannot afford to pay in full and thus Revolve their CC Debt.

Now, in the above scenarios, you are not charged any interest cos u are paying in full.  So, now lets assume that you CANNOT pay in full. For simplicity sake, lets just assume an interest rate of 15.0% p.a. for ease of calculation although this rate can go as high as 18.0% p.a.
Scenario 1

You make a Transaction, say Petrol of RM80 on the Jan 8 2014
Transaction will be captured in the Jan 10th Statement
Statement arrives on Jan 13 2014
You have until Jan 30 2014 to pay
You can only, pay say RM40.

Now, for Jan 10th Statement, you will not be charged interest as you are new Customer (or did not owe any amount in the past) but this interest for the balance RM40 will appear in Feb Statement.  Rough Calculation will be

RM40 * 15% * 10 days (Jan 30 to Feb 10) / 365 days = RM0.16

Scenario 2

You make another Transaction, say Petrol of RM100 on the Jan 12 2014
As this is after Jan 10, it will only be captured in Feb 10 Statement
Statement arrives on Feb 13 2014
You have until Mar 2 2014 to pay
Because you have not paid in full, an interest of 15.0% is charged immediately
RM100 * 15% * 29 days (Jan 12 to Feb 10) /365 = RM1.19
Total interest in Feb Statement will be RM0.49 + RM1.19 = RM1.35

But that is not the end of the story, the interest shown is up to Statement Date. The interest is still being charged as we speak from Statement Date (Feb 10, on the entire amount owing including the interest) up to the Day that you make payment in full.  Hence, even if you pay RM40 (Balance from Jan Transaction) + RM100 (for the Jan 12 Transaction) and the RM1.35 in interest, the CC can still charge additional interest from the Statement Date to the Day that you have paid the amount. 

So, lesson is NEVER owe CC any amount. At most, you can opt for an ‘Interest Free Payment Scheme’ but only if u actually have the cash in back to make full payment.  There is lots of info from our Grandmaster Gen-X blog.

We were all young once, so I can tell you that its very easy to get into CC Debt, especially for younger ppl.  You have RM200 in your wallet to pay for petrol but instead you use your CC to pay.  But problem happens when u then use the RM200 and go to Mamak, Clubbing and come time to pay the CC, you are short of RM200.  So, you only pay RM100 and this starts the beginning of your CC Debt.

So, spend wisely, watch your wallet.  Visit Gen-X Blog and also LYN for tips to make free money from your CC.

Regarding the AF Waiver thingy, don’t worry about in now.  You should always have more than 1 CC so vistit Gen X blog to get tips which CC suits you best.  And if one CC does not waive the AF, just cancel the card and apply for another Card.

But if u still owe money, then u cannot cancel the card until u clear the sum outstanding. So, remember not to owe any amount to start with.

Ouh, so we can actually pay by partial before the statement come or cycle end?
Does citibank online provide realtime statement? I am still waiting my CC to be courier to me.
I am quite suprise that I applied on Sunday and get approved on Monday. A HSBC banker said it is impossible. LOL

hmm I got only one ticket

great, my card also arrived 1 week after caling CS.. no poslaju problem 

time to explore new way to utilize this card 5x points..

u guys can just enjoy one year 5x points and then cancel the card since it will be 1x point after that

yeah i was meaning to say if you continue to subscribe it will be RM100 per category

yeah you are right for me most i'll just hit 1 category only but big spenders will hit 2 of them 

i am guessing you have maxed out your amex and wise card before getting this ?

It is always better for you to initiate the call and ask if they have received your fax.

some banks don't allow anybody else except yourself (including close family members like father/mother/siblings/husband/wife) to collect the cc on behalf.

now i received insurance policy called Credit Shield Premier from AIA and distributed by Citibank.

should i cancel the policy ? as i already have insurance from AIA under my company, and 1 other more insurance. i never received any call for any agreement to enroll to this insurance.
as per Citibank online, the amount of RM24 has been deducted from my CC.

please advise.

guys just to confirm the GST and AF both appear on the same date for citibank ?