I was then told that even with FD pledge, if you are earning less than 36k on papers, you can't get more than 2 cards

How true is that statement? I vaguely recalled someone mentioning that Credit cards secured via "FD Pledge" would not be considered in the 2 cards limit.

It is very clear, earn below 36k you are limited to 2 issuer only . FD secured cards are no exception.

Ah.

Because previously someone mentioned differently.

Can't remember who it is thou.

Based on BNM rule however, if below 36k can't get more than 2 issuer + limit can't be x2 of gross salary.

But if a person pledged 20k FD for a VS, won't that be a breach of the rule?

In fact, if a person don't have 36k per annum of fixed income but have let's say 100k in cash due to inheritance or stg, does that mean that the person could not get more than 2 cards as well?

Just crossed my mind and finally remembered to ask.

But you have to understand that on a credit card secured by pledge FD , there is basically no lending . The bank does not lend you any money unlike credit cards applied under normal circumstances. That 2x gross salary limit is what the banks lends you. So if you pledge 20k FD and get a 20k CL , how much 'line of credit' is there? Nil. Let's assume the salary is RM900 and he pledge RM5000 for his credit card. He got a CL of RM5000. BNM ruling is the limit will be 2x gross salary which is RM900*2 = RM 1800. That's mean for his pledge of RM5000, he could have a max. CL of RM5000 + RM1800 = RM6800 with the bank.

BIM VI and WMC last time was by invitation only, now open for public to apply..

Just visit BIM website

For the WMC, it still 'by invitation'. Anyhow, there is no further details on its VI.

Thanks for the note.

You are welcome. Planning to apply one?

Just look around only. Who know bump into a card is worth as replacement for M2C
Not sure now do they still have 0% Balance Transfer
If remember correctly some time ago they have

I think no more for the 0% BT..

PBB card has 0% BT.

I ask this same questions in May bank VS thread. However , I can't find the answer. Hence I wish to ask again here. May I know difference between Maybank VS and Maybank Islamic ikhwan cc? Both seems very similar, the only difference is Maybank VS has more advantage ie PPL access and it is daily rebate and ikhwan only Friday and Saturday. Anyone can share their expert opinion? I am thinking whether to apply both or only one card.

I have no principle credit card now, and my DSR is most likely around 200% now, that mean I will be rejected if I apply for a card.

So is there any other ways I can get a card approve? Put FD in the issuer bank? Any bank offer this?

If your DSR is so high, recommend you settle your debts first then only apply for credit card. Why do you want to work for free for the bank? Unless is BT and you HAVE THE MONEY, then it's ok.

Maybank, PB. Remember to settle your debts first before applying for another card.

Agree.

Ikhwan's cash rebate is only capped at RM 50 and MBB VS is RM 88.
Ikhwan has no AF and VS has.
TP earned from VS can be converted to cash but petrol and groceries have no TP.

All this information is available in both threads' first post.

This post has been edited by fruitie: Jul 25 2015, 07:27 PM

I'm in no way encouraging you to rake up more debt but to answer some part of your question :-

1. Most local bank allows FD placement for a CC. The limit is 1 to 1 and minimum would start from 5k.

If you meet the income requirement and your CCRIS is clean, I am sure the banks will approve your application provided you pledge FD. However if you make a straightforward application, 100% unsuccessful!

Hi thanks for your advice, actually I did top up some of my loan recently, but I prefer not to settle it as I prefer to have the option to take withdraw the money in the future, so my monthly installment will be the same, just save up the interest, hence no affect to my DSR, actually not working for the bank, is just all of my debt is mortgage loan, which have low interest compare to inflation and the depreciation of our currency, so continuing having debt is wise choice for me now .

U mean MAYBANK and public bank do have the option to pledge the FD to a credit card? Usually how much FD needed ?