Maybank is quite strict with its applicants. But not all banks requires you to work with a company for at least six months before you are eligible for their cards. Try UOB as they are reported by lots of LYN forumer (including me) to be lenient.

when I applied mbb2 cards I just joined 3 months

I believe it depends on what kind of company you are working for.

Not kind of company, i apply from branch, they told me. it is a must now.

I applying for maybank2card plat.

This post has been edited by David900924: Jul 5 2014, 03:14 AM

i was going thru my cimb creditcard statement, what is this legal fee they charging me ?

if you receive your company confirmation letter before 6 months, you can use that to apply.

Legal fee? How much?
Seem now a day CIMB just like to impose a lot of non-sense charges to its customers.

What legal fee? Call Customer Service and ask them and do share with us what's that.

Dear sifu, would like to ask one question.

Does having many credit cards affect the amount of max personal loan bank will approve?

Example: John has 2 credit cards with limit of 10k each (but no outstanding amount). When John apply personal loan his bank will only approve 20k.

If John cancel 1 credit card, does the bank will approve for 30k instead?

Hope someone can answer this. Thank you...

yes, it does affect because there are chances that you will fully utilise all your available credit limit in all your cc when you are in need of money.

however, different banks analyse the risk factors differently. based on the same situation and criterias, bank A may approve a 20k loan to you, while bank B 30k. and with a cc cancelled, bank A 30k and bank B 40k. there's no fixed value for all banks because each bank have their own sets of factors to analyse the risks before approving a loan to you.

Thank you very much for detailed explaination

you are welcome. although it's good to apply loan at different banks due to each bank analyse differently, but do not apply too many at one time as you will show your desperation in getting a loan which will hurt your rating.

If John has been disciplined in controlling his spending and educated enough to pay in full his credit cards outstanding sum monthly, then it would not be a smart move NOW if John were to go get a Personal Loan. Why? It is because Personal Loan interest are imposed upfront and the effective interest rate may be as high as credit card 18% interest rate.

As for your question - "Does having many credit cards affect the amount of max personal loan bank will approve?"

Well, besides one's exposure to credit facilities (as mentioned by victorywp), the bank will also look at one's credit history. A person may have no outstanding sum on his credit cards when he/she apply for a PL. BUT if he/she had failed previously to make payment to one of his credit card, it will be reflected in the CCRIS report; therefore, this itself may reduce his/her chance of the PL being approved.

Another way of getting "more money" from Personal Loans is actually having more credit cards. You see, most credit card issuers are willing to give you pre-approved PL amount up to 80% of one's credit limit. Every week I get at least a call from banks (recently most frequent from HSBC and CIMB) offering me pre-approved PL.

Of course I don't know the reason why John would wants a PL; but if possible, try and avoid getting a Personal Loan as the effective interest rate is a very high. Instead look at loans where interest are on reducing balance, i.e. the faster you repay back the loan, the less interest you'll be paying to the bank.

This post has been edited by Gen-X: Jul 6 2014, 11:56 AM

Thank you very much for your elaborate explanation. Learned something today about the pre-approved PL.

Hi everyone, i would like to know if I'm able to get the citibank clear card through pledging on a FD?

No Citibank CC is Given to You... Unless You Sign Up a Citigold Primer/Private Banking Service (Account) with Min Initial Deposit RM200K they will Giving U a Platinum CC as Citigold Member

I think I have told U before: https://forum.lowyat.net/index.php?showtopi...post&p=68686968

This post has been edited by fly126: Jul 8 2014, 01:01 PM

Edited...

This post has been edited by fly126: Jul 8 2014, 11:10 AM

Over here in LYN , we forumer constantly rate Maybank 2 Cards as the 'must have' card . It is virtually top of our list. How could HSBC cards overtake it in the rating? I don't understand

I think they're Ranking maybe because of This: Earn 8X Reward Points at Mid Valley Megamall and The Gardens Mall and 5X Reward Points on every spend at other participating malls nationwide. For anything outside the shopping malls, you still enjoy 1X Reward Points for every RM1 spent.

But, The 5/8X Reward Points are only awarded to HSBC Visa Platinum Credit Card, HSBC Visa Reward Credit Card and and Gold MasterCard Credit Card up to a maximum spend amount of RM3,000 per participating month cumulatively in participating shopping malls
& Also HSBC CC now are Annual Fee Waiver subject to 12X Swipes p.a
http://www.hsbc.com.my/1/2//personal-banki...ards#_visa_gold

This post has been edited by fly126: Jul 9 2014, 12:06 AM

Edited 2x Post...

This post has been edited by fly126: Jul 8 2014, 10:01 PM