so you are credit card gou shou
so you mean you can BT extra cash, and transfer the extra cash to saving and then to mortgage loan to save interest, then only pay monthly to 0% BT?
but as far as I know AEON BT needs statement right? So if you want to transfer to housing loan how did you provide statement to AEON?

Oh i see good for you. I applied CL increase once and the CS told me i can only apply 1 year later lol

very simple one.... i did my Maybank, Ambank & HSBC BT. later on use these 3 banks BT outstanding statement apply Aeon to settle lo. eventually it helps me to settle and get one more month BT.

i am holding Aeon big credit card and just applied Aeon visa last week because the salesman told me can do BT again. so i will try use the same statement apply BT for Aeon big and Aeon visa again.

all my maybank, Ambank and HSBC BT. i mostly transfer to UOB because easy to transfer it out. tried HSBC & SCB before but very hard.

I thought can only do 1 time AEON BT for every 6 months no matter how many AEON cards u r holding.

very simple one.... i did my Maybank, Ambank & HSBC BT. later on use these 3 banks BT outstanding statement apply Aeon to settle lo. eventually it helps me to settle and get one more month BT.

i am holding Aeon big credit card and just applied Aeon visa last week because the salesman told me can do BT again. so i will try use the same statement apply BT for Aeon big and Aeon visa again.

all my maybank, Ambank and HSBC BT. i mostly transfer to UOB because easy to transfer it out. tried HSBC & SCB before but very hard.

fantastic 

so you BT your balance to Maybank HSBC etc, then use these statements to BT to AEON, so now you owe AEON only
so what to do with UOB? Do you mean you transfer again to UOB?

I want to upgrade my BT level 

ya. 1 time. but it seems Aeon big and Aeon Gold visa card can be considered different branch i think, so the sales person told me even you have done for Aeon big and also can do it again for Aean Gold visa.

is like this. e.g. My BT Maybank, HSBC & Ambank total RM 200k. which mean my monthly statement will be about RM 18k and subsequently i use these statement about RM 18k apply for Aeon 6 months 0% BT. so i still owe all the banks actually. Been told Aeon big and Aeon gold Visa can be done separately, so if it works i will use the same statement BT 2 times which will be 36k liao.

As you know Maybank doesnt need statement, so all my BT will transfer to UOB credit card and transfer it out to my housing loan. pretty easy to transfer out from UOB. i done it more than 10 times in the past 6 months

Cool.

So the extra cash in UOB cc can be transferred to UOB savings? So we need UOB saving account to do that?
If a bank doesn't allow this that mean the extra cash has to remain in the cc?

transfer to other banks also ok cos i dont have uob saving/current account. they charge you RM0.11 for giro fee only. haha

transfer to other banks also ok cos i dont have uob saving/current account. they charge you RM0.11 for giro fee only. haha

Not sure if this helps, or if its what you're asking, but I'll explain why BT is a huge benefit to me. Its a little hard to explain but I'll try.

In the examples below, I will use only actual statement amounts to avoid confusion. However, in practice, for banks which don't request for statement, I always BT the maximum allowable and transfer excess to my CASA, so that I get interest free cash payable in instalments. After you read the examples below, hopefully you will see why it makes sense.

1. Very basic scenario where I BT for only the statement amount

Let's say my PBB statement is RM36k, and I need to settle in 2 weeks time. Without BT, I have to fork out RM36k in cash one shot.

However, if I apply for MBB 12 month BT, MBB will pay RM36k to PBB. I don't need to pay PBB anything. Instead, each month I have to pay RM3k to MBB.

The benefit to me is that:
- In the first month, I only need to pay RM3k in cash instead of RM36k. That leaves me with RM33k extra cash.
- If I put the RM33k in a FD for one month, I will get RM82.5 from FD for that month (assuming 3% rate).
- In month 2, I need to pay RM3k to MBB again. So, I will take this from my RM33k FD (after the one-month term is over) and I will place another new FD for only RM30k. In month 2, my FD return is RM75.

Of course the amounts are significant when you're BT-ing large amounts. In my case, I have RM120k+ in BTs, so interest in the first month is RM300. This gets reduced gradually, but the amounts all add up.

2. Double BT Scenario (again, using only actual statement amount)

Taking the same facts as scenario 1 above. I owe PBB 36k, but this time I apply for 2 RM36k BTs (e.g. 12 month from MBB, 6 month from AEON).

- PBB will receive double payment and have a credit of RM36k (which I will request to be transferred to CASA)
- In the first month, I will have my own extra cash of RM33k (same like Scenario 1), but this time with even more extra cash of RM30k (i.e. RM36k minus RM6k for 1st month instalment to AEON)
- In month 1, if I FD the RM63k, I will have RM157.5 interest.
- Every month my FD will reduce by RM9k (to repay MBB and AEON), but at least there's cash there earning interest

3. Using BT to pay BT instalments scenario (again, using only actual statement amount)

I owe PBB 36k
- First, I apply for AEON 6 month BT. I don't need to pay PBB anything, but my first month instalment to AEON is RM6k. Assuming that I timed things well, I only need to pay AEON 1 month later (i.e. when AEON statement is due).

- When my AEON statement comes out, it will have the RM6k instalment there.
- Using my AEON statement, I apply for MBB BT for RM6k.
- Now I don't need to pay AEON RM6k, I just pay MBB RM500.
- Applying the same FD principles above, I have a lot of free cash flow to invest.
- Theoretically, I can do this EVERY month (e.g. each RM6k AEON instalment, I can apply for MBB BT to convert into 12xRM500 instalments). In practice, I wouldn't do this as administratively difficult to manage payments and benefits are not worthwhile given sums involved.

SUMMARY

The examples I used above are very very simplistic. However, they illustrate the basic concept of having interest-free cash and putting it to use in FD.

In my case, I currently have very complicated BT arrangements (e.g. now its RM120k over 6 separate BTs with 3 banks). Of course I have to repay the RM120k over time, but I get the benefit of interest. Furthermore, out of the RM120k, only about RM30-40kk represents actual spending. The remaining amounts are made up of "double / triple BT", or "excess BT". This is exactly like getting interest free loans from banks for 6 months or 12 months.

If you think about guy3288's RM1m+ BTs, the returns are very significant. Looking at his Excel, his BT arrangements are much larger and even more complicated than mine. Not easy to manage the cash flow, but the returns are definitely worth it.

Hope this helps.

OK. Let me try to explain.

Standard BT (i.e. one of the main reasons why banks offer BT to customers)

Let's say you have an outstanding balance of RM24,000 on Bank A's CC, and perhaps you are having trouble settling it by the statement date (and hence, paying high CC interest rates). Bank B offers to "transfer the balance" from Bank A CC to Bank B CC. Bank B does this to secure the relationship with the customer, and if the customer defaults, they will earn interest / penalties. Mechanics:

- Bank B will pay RM24,000 to Bank A for you. Now you don't owe Bank A anything.

- Instead, you owe Bank B RM24,000, under the terms of the BT programme. Normally it will be XX months (6, 12, 24, 36 etc) at XX interest (e.g. 0% - 4%).

- Under PBB's current 0% BT programme: You will owe PBB RM24,000 payable in 6 monthly instalments of RM4,000 each. No interest assuming you pay each instalment on time by the statement date.

- Under MBB's current 0% BT programme: You will owe MBB RM24,000 payable in 12 monthly instalments of RM2,000 each. No interest assuming you pay each instlament on time by the statement date.

In short, BT gives you better cash flow, with low / nil interest, assuming you can pay on time. It is useful for months where you have super high spending, and need to spread payments across several months.

More Advanced BT Arrangements

Some banks (e.g. PBB, and Maybank via M2u) allow you to apply for a BT without a statement. In the example above, let's say I have a Bank A credit card with ZERO outstanding balance. However, I apply for a RM24,000 BT with Bank B:

- Bank B will send RM24,000 to Bank A. Bank A will have a positive (credit) balance of RM24,000.

- Some banks will allow you to "withdraw" the excess credit of RM24,000 to your current account. Note that some banks do this easily (particularly for amounts below RM10k), whereas some have very strict policies. You can read previous posts for people's experiences with various banks.

- In effect, you now have RM24,000 interest-free CASH, payable in monthly instalments. You can invest this money, or park it in an FD to earn interest. FREE financing!

Sorry - my HORRIBLE maths. My initial example was RM12k, then I changed the figures but didn't change the monthly instalments. But nevermind, I think you get what I mean.

To maximise the "Advanced BT" strategy - the best card combination is MBB, PBB and AEON, which currently give 0% BT. The more "crazy" BT people here (like me!) will apply for several BTs, and use BT to pay off BT etc etc. My current outstanding total BT amount is above RM100k. That's A LOT of interest savings. There are others who have even more than me.

In my advanced BT example... what you need is this:

1. A CC which gives you 0% BT offer (i.e. MBB, PBB or AEON). You can have all 3 in case your credit limit is not very high. This will maximise the amount you can cash out.

AND

2. A CC PLUS savings / current account with the bank you are transferring the extra credit to. I use MBB, PBB and HLB.

As an example (will use bank names for convenience):

- You apply for PBB BT (no statement required), to transfer RM12k to MBB CC and RM12k to HLB CC.

- It is highly advisable that you have a savings  / current account with those CC banks (i.e. MBB and HLB).

- Once you receive the extra credit of RM12k in each of those cards, you phone customer service at MBB and HLB to transfer the credit from the CC to your savings / current accounts.

- Based on personal experience, HLB and MBB allow the transfer via phone call. HLB takes 3-5 working days, MBB about 5-8 working days.

SUPER ADVANCED BT STRATEGIES

Once you get the hang of the above:

- You can apply for multiple BTs. For PBB and MBB, you can apply for several at one time, provided you have sufficient credit limit. For AEON, only 1 BT application (but can pay several banks) every 6 months.

- You can use BTs to pay BT instalments. For example. In my STANDARD BT example, my monthly instalment payments to PBB are RM4k. My PBB monthly statement would thus show at least RM4k. I can then apply for MBB BT for 4K, so the 4K gets converted to 12 monthly instalments with Maybank. Theoretically I can do this for every single month, subject to have sufficient credit limit with MBB (and if the promotion is still running).

snowswc,

Could you explain step by step how u manage to do BT RM200K  ?
Im really interested to learn from you .

Thank you so much .

*As an engineer, like to ask details step by step.

Forgot to ask ,

since doing big $$$ BT ,
those credit cards must not use for spending ,
since cashback/rebate from those card is small compare to BT return ,

is my understanding correct ? Thank you

Forgot to ask ,

since doing big $$$ BT ,
those credit cards must not use for spending ,
since cashback/rebate from those card is small compare to BT return ,

is my understanding correct ? Thank you