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Credit Cards OCBC Titanium MasterCard Cash-Back v4, From 29-Nov, unlimited 1% cashback only
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flyingteeku
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 Mar 17 2014, 01:22 AM
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QUOTE(onlinepaycheck @ Mar 16 2014, 05:13 PM) 15March2014: Applied OCBC World MasterCard at booth in shopping mall for - 1.2% rebate (backup to Wise and MBB2Plat) - 2x KLIA premium lounge access (next month go vacation can use) - free 20" cabin luggage (hopefully next month go vacation can use) - Freebie: Canvas Tote - RM50 rebate (to offset GST) Annual fee, promoter unable to confirm for 2nd year waiver because card is new. Advise to call before card expiry to request waiver, or else opt to cancel the card. Was told normal approval cycle is 2 weeks. Card will be sent via normal post (not PosLaju) - reason given was that customers need not to be at home to have card delivered, else have to make a separate trip to PosLaju to collect. Was told luggage will be sent 4-6 weeks (he said so far very "on time" delivery) after qualifying spend (3 swipes within 1st 45 days). What is the minimum salary for this? |
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flyingteeku
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Mar 21 2014, 04:19 PM
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i have 0% instalment plan in my OCBC, a month RM233..i still have another 21 months to go...can i make the full payment? will there be any penalty on this? i plan to cancel this card but i did make a huge mistake by converting to this instalment plan..
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flyingteeku
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Mar 21 2014, 04:44 PM
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QUOTE(victorywp @ Mar 21 2014, 04:28 PM) you may call the cs and say that you would like to make a full payment for your installment plan. they will then convert the installment to full amount to be paid in your next statement. should be no penalty but i'm not sure whether your agreement with ocbc did mention about early full settlement penalty. thanks..just call the CS..and i can make the full settlement without penalty charge... then I can use 12 months 0% transfer from MBB amex to transfer to OCBC.. |
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flyingteeku
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Mar 21 2014, 04:55 PM
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QUOTE(herc @ Mar 21 2014, 04:49 PM) MBB balance transfer has an upfront 3% charge. 21 months x RM233 = 4893, If you BT full, 3% @ 146.79, that's 3 year worth of GST. Thanks for pointing this out...i think i may have to reconsider this option... |
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flyingteeku
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Mar 27 2014, 11:16 AM
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QUOTE(zaFrOoNaLdO @ Mar 26 2014, 09:41 PM) guys... just wondering if any of you here got a call from OCBC offering you cash based on your credit limit.. the offer is 3% fixed interest, no processing fee etc. just 3% fixed interest rate and payable in 1 year only. so to calculate, for example they offer you RM10,000 cash, to calculate how much interest, its 10000 x 0.03 = 300. Therefore, total payable throughout that 12 mths is 10,300/12 = 858.33. i dont actually need the cash right now, but just wondering.. if i can invest it somewhere else.. would it be a good idea to take that money? since i think its quite a good offer. QUOTE(victorywp @ Mar 26 2014, 10:21 PM) yeah, if the interest offered by ocbc is lower than 3%, then you can put the money in fd for 3% monthly (risk free but low and slow profit).  Yup..i received it and i thought of utilize this as well.put inside FD Affin Bank for interest 3.6%... not sure if this is wise...my OCBC still have outstanding for 0% IPP 24 months but not using it for any other retail purchase since have UOB and MBB Amex. So, thought of joining this promo.. |
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flyingteeku
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Mar 27 2014, 04:23 PM
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[quote=cybpsych,Mar 27 2014, 12:58 PM]
by taking the personal loan, you're basically adding more debt to yourself. even re-invest it in FD to get minor return, is it worth the hassle?
Well, yup it is a hassle considering that you need to make a monthly payment to OCBC in order to get 0.6% return only...can use that money to invest instead..
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flyingteeku
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Mar 27 2014, 04:27 PM
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QUOTE(propusers @ Mar 27 2014, 02:53 PM) 3% flat rate is equal to effective rate 5.49%, which is much higher than 3% in FD... meaning if you borrow money 3% flat rate and put in FD 3.5%... actually you rugi ~2% in a year... QUOTE(LostAndFound @ Mar 27 2014, 03:26 PM) I think its because 3% rate is on initial amount, so even how much you've paid the interest still charged on initial. http://en.wikipedia.org/wiki/Flat_rate_(finance)i still don't get it... Let's say if we take 10,000 and pay interest rate of 3% = 300, So, we are only charge total 10,300. For 12 months, 10,300/12 = 858.33 So, after 12 months, we only pay additional 300 only which is 3%...how to get 5.49%? |
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flyingteeku
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Mar 27 2014, 11:44 PM
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QUOTE(victorywp @ Mar 27 2014, 09:04 PM) it's easy to understand... when you take and put rm10k in yearly fd, you can't touch the money until it mature 12 months later. but you need to pay monthly installment of 858.33 every month = how do you get the money to pay? if you have the additional money to pay the monthly installment, you don't even need to take the loan in the first place.  and if you take and put the rm10k in monthly fd, yes, the fd will mature monthly, so you can use the money to pay the monthly installment every month. but as you pay the installment every month, your principal rm10k will be getting smaller every month, eventually you will unable to generate the same profit to pay off the fixed interest rate which was charged on the principal rm10k. Thanks..i think this concept is the same as taking ASB loan to apply for ASB. Effective interest will eventually become higher.. |
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flyingteeku
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Apr 9 2014, 04:28 PM
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Since i have other CC which is UOB, MBB Amex, RHB, my OCBC transaction getting less..only swipe for below transaction:
OCBC 0% installment Ogawa- RM233.33 ( 21 months to go)
Allianz insurance direct debit - RM200
Yes broadband direct debit - RM63
Now, my questions are below:
1) The total rebate I get (1%) is RM2.33+ RM2 + RM0.63 = RM4.96 which is less than RM5/month and RM59.52 per year. After deduct Gomen tax, i only gain RM9.52. Should I cancel Allianz and Yes direct debit and sign up with Amex instead?
2) Is Amex accepted for Allianz and Yes?
My concern is if i cancel the direct debit, while waiting for instalment plan to finish, the effective rebate per month only earned about RM2.33. Per year only RM27.96 which is a deficit if I were forced to pay OCBC RM50 gomen tax. the 0% 3 years instalment is killing me..
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flyingteeku
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Apr 9 2014, 05:06 PM
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QUOTE(cybpsych @ Apr 9 2014, 04:52 PM) try to talk to Allianz and YES4G about Amex acceptance (including direct debit). If accepted, then good idea to shift the direct debit over to Amex. At least you gain 5X TP (2% CB-equivalent) if transaction falls on weekdays. If direct debit transacted on weekend, then it's a bonus: 5% CB (provided you havent exceed the CB  ) + 5X TP. a bit difficult to shift the Ogawa installment from OCBC. How about terminating unnecessary card, e.g. RHB? at least the RM50 GST "gained" can be used for OCBC instead. 'bout UOB card, what do you use for? petrol only? Yup..will check with Yes4G and Allianz...the reason I apply for RHB is to utilize the 0% instalment plan for transaction of RM5000 hospital fee to 6 months in Amex. After 6 months, i will consider to cancel the card. The UOB card is only for BHP petrol...UOB 5% rebate + 5% smart cash rebate ( limited to first 900K only) + BHP loyaty card = 1%. My concern is OCBC, someone said the gomen tax RM50 can be waived, some said cannot be waived. At the moment, this card is just a redundant card for me...if not because of the instalment plan, i will say bye bye to the card already.. |
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flyingteeku
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Apr 9 2014, 05:23 PM
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QUOTE(cybpsych @ Apr 9 2014, 05:14 PM) assuming UOB doesnt extend the 5% smart cash rebate (tentative to end 30 Apr), then you can try to use AMEX to pump BHP. Test it across few BHP stations that you frequent mostly or accessible to you. see if you can plan ur petrol pump on weekends (sat or sun), and last till next weekend  OCBC actually can be kept as your secondary card, cuz it has unlimited 1% CB without any spending restriction. well, just a suggestion. need to spend some time to adjust, study, arrange the spending according to each card's benefits. not easy, but just take some patience trying it out  I agree...OCBC is good as secondary card. Same cases when OCBC change the benefits from 5% limited to 1% unlimited, this unprecedented scenario also can happen to MBB AMEX if MBB decided to change from 5TP to 1TP or 2TP.. i bet alot of people will cancel Amex if that happens..nothing is impossible... |
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flyingteeku
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Apr 11 2014, 09:53 AM
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QUOTE(ronnie @ Apr 11 2014, 09:08 AM) Receive an SMS informing a new OCBC Online Banking portal coming soon.... hope it comes with PDF eStatement And hope we can do E-FD as well.. |
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flyingteeku
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Apr 28 2014, 03:33 AM
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QUOTE(notmycupoftea @ Apr 28 2014, 01:07 AM) [attachmentid=3948732] bravo!! at least i know that if i had not applied it in the past, i can't hold this card now  wow..they increase their annual income... i doubt alot of people will apply due to poor cashback return... |
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