Received my new card today.

While calling up to activate the card, i took the opportunity to ask about Balance Transfer. The CS was kind and polite enough to explain it to me.

So, it's confirmed that, when you perform BT,
- Any retail transaction done will incur 18% per annum interest 'IMMEDIATELY'! So, wise thing to do is to keep the card in the drawer until you fully settled the outstanding.
- The whole outstanding amount will appear on the card
- If you opt for 0% interest for X month, you can choose to pay the minimum 5% of your outstanding amount for month 1, until X-1.  At month X, you must pay off the total outstanding, or 18% interest will be imposed on the outstanding amount.

For the last bit, it's good and bad in a way. If you are disciplined enough, you can try out the 5% repayment + final full settlement. Otherwise, please set a repayment schedule for yourself.

Good thing is, at month X, you can do another BT to pay off HSBC to continue the repayment on another financial institution. But please please please be diligent or else you will end up in the trap you set for your own.