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Credit Cards Balance Transfer (BT) Plans V4 - Banks Offer List, Credit card debt consolidation

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bananaking
post Sep 15 2019, 01:38 AM

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QUOTE(newsongfashion @ Sep 12 2019, 02:37 PM)
oh interesting. How you come to the conclusion that I don't know how to do mathematics deduction?
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You just prove that with your erroneous calculation. The calculation you claim was wrong is the correct one.

FD is effective rate. Upfront is flat rate.

If you take RM100k BT at 3% upfront and put into 4% FD, you lose RM3,000 immediately and will only get around RM2,100 in 12 months (because the 4% is not on full RM100k, the balance is reduced by one twelfth every month as they must repay the BT).

So you are effectively suffering a loss but think you are making a profit.

You may feel you are getting 4% on the full RM100k due your FD balance but if you factor in the own fund you are bleeding to repay the BT, the effective rates comes down to almost half.

You would be better off just putting all own fund in FD and not pay the 3% to Maybank.

This post has been edited by bananaking: Sep 15 2019, 01:48 AM
Diablo143
post Sep 15 2019, 10:07 AM

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QUOTE(yhtan @ Sep 14 2019, 01:51 AM)
Got one Aeon staff called me to sign up for BT, she did mention now Aeon change the BT policy into credit card limit, i forgot the ratio sweat.gif
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Yes, AEON now allow multiple BTs again, as long within 80% credit limit (i think).

Previously had to complete the full 6 months BT payment (or full early settlement) before can apply for new BT.

Diablo143
post Sep 15 2019, 10:09 AM

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QUOTE(MNet @ Sep 14 2019, 11:38 PM)
How the aeon BT works?
Mind to explain?
For example my MBB statement 6k.
Then I BT the 6k to aeon.
Aeon pay my MBB 6k.
since its 0%, i need to pay 1k per month to aeon?
how about BT due date is same with my aeon credit card due date?
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Yes, 6k divided to 1k each month. Pay as per AEON card due date.
SUSMNet
post Sep 15 2019, 10:38 AM

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QUOTE(Diablo143 @ Sep 15 2019, 10:09 AM)
Yes, 6k divided to 1k each month. Pay as per AEON card due date.
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Basically for example when the MBB statement coming out, then i just submit the aeon BT form and MBB statement to aeon?
Is it possible to scan and email to aeon?
chonghe
post Sep 15 2019, 11:24 AM

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QUOTE(MNet @ Sep 15 2019, 10:38 AM)
Basically for example when the MBB statement coming out, then i just submit the aeon BT form and MBB statement to aeon?
Is it possible to scan and email to aeon?
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Yes, scan and email is all good
Last time I use screenshot of transaction they also accept
budak nakal
post Sep 15 2019, 06:36 PM

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Did anyone notice that PB no more offering 0% BT since last July? Even for 6 month

https://www.pbebank.com/Personal-Banking/Pr...ansfer-(6).aspx

Think need to update the 1st post already
cybpsych
post Sep 15 2019, 08:00 PM

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QUOTE(yusiang @ Dec 28 2018, 06:57 PM)
OMG, seems like PBB is finally ending their neverending 0% BT starting 2019.

https://www.pbebank.com/Personal-Banking/Pr...ansfer-(5).aspx
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QUOTE(budak nakal @ Sep 15 2019, 06:36 PM)
Did anyone notice that PB no more offering 0% BT since last July? Even for 6 month

https://www.pbebank.com/Personal-Banking/Pr...ansfer-(6).aspx

Think need to update the 1st post already
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no more 0% since January.

no point update 1st post, TS is missing.

Joey_Chin12
post Sep 15 2019, 09:54 PM

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So now only aeon is offering 0% BT?
WaCKy-Angel
post Sep 18 2019, 10:30 AM

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QUOTE(cybpsych @ Aug 27 2019, 11:52 AM)
when will that happen?

does the 7k payment has to be made with maybank/citibank/uob cards (to earn points/cashback)?

if not necessary, can apply PBB Quantum cards --- swipe your 7k with either quantum cards and convert to 12months installment @ 0%.
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I received the card d.. But i dont see 0% for convert installment.
Got 1% upfront fee conversion is upfront 3% for 12 months, 1% upfront for 6 months

This post has been edited by WaCKy-Angel: Sep 18 2019, 10:31 AM
cybpsych
post Sep 18 2019, 10:31 AM

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QUOTE(WaCKy-Angel @ Sep 18 2019, 10:30 AM)
I received the card d.. But i dont see 0% for convert installment.
Got 1% upfront fee
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Flexipay

call CS to convert the transaction
wongmunkeong
post Sep 18 2019, 02:23 PM

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QUOTE(WaCKy-Angel @ Sep 18 2019, 10:30 AM)
I received the card d.. But i dont see 0% for convert installment.
Got 1% upfront fee conversion is upfront 3% for 12 months, 1% upfront for 6 months
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It's a feature of the card - not a general offer for flexi payment plant for all types of PB Cards
https://www.pbebank.com/Personal-Banking/Ca...edit-Cards.aspx

user posted image

This post has been edited by wongmunkeong: Sep 18 2019, 02:24 PM
Ben1009
post Sep 18 2019, 05:21 PM

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QUOTE(wongmunkeong @ Sep 18 2019, 02:23 PM)
It's a feature of the card - not a general offer for flexi payment plant for all types of PB Cards
https://www.pbebank.com/Personal-Banking/Ca...edit-Cards.aspx

user posted image
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Anyone try that before. Is there any terms and conditions attached?
wongmunkeong
post Sep 18 2019, 06:50 PM

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QUOTE(Ben1009 @ Sep 18 2019, 05:21 PM)
Anyone try that before. Is there any terms and conditions attached?
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i'm using this now since no 12mths 0% $0 fees balance transfer for PB, MBB, HLB XD
other than the above Terms & conditions - go read details as what is important to me may differ to U. there's a link ya in my post.

The most important to me = IF closed off early, $100 penalty per FPP closed off early.

moiskyrie
post Sep 18 2019, 10:35 PM

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Anyone have tool or calculator on how to calculate monthly payment?
Plan to bt my balance from from hlb to mbb....
Left4Dead2
post Sep 19 2019, 09:40 AM

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Any promotion for UOB card ?
LostAndFound
post Sep 19 2019, 10:37 AM

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QUOTE(newsongfashion @ Sep 12 2019, 02:37 PM)
yes agree... my assumption is I have additional funds to pay the BT monthly
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And.... that money is free money? Or you're happy to get 0 interest on that money?
Nikmon
post Sep 19 2019, 02:07 PM

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QUOTE(wongmunkeong @ Sep 18 2019, 06:50 PM)
i'm using this now since no 12mths 0% $0 fees balance transfer for PB, MBB, HLB XD
other than the above Terms & conditions - go read details as what is important to me may differ to U. there's a link ya in my post.

The most important to me = IF closed off early, $100 penalty per FPP closed off early.
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Have you try before request the conversion multiple times, hope you dont mind to clarify.. smile.gif
kelvinlzy
post Sep 19 2019, 03:25 PM

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QUOTE(Nikmon @ Sep 19 2019, 02:07 PM)
Have you try before request the conversion multiple times, hope you dont mind to clarify.. smile.gif
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As long as the amount is ≥ RM1.2k per transaction then you can do as many FPP as you want. I have 6 ongoing FPP currently.
lilsunflower
post Sep 20 2019, 01:39 AM

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Just a quick sharing on my experience with a credit balance on MBB.

I did an AEON BT for the amount shown in my most recent MBB statement. However, RM8k+ had been reversed because of refunds for a dead laptop and hospital deposits. Therefore, there was a "credit" sitting in my MBB statement of about RM2k after deducting current month spending. When I asked for the amount to be transferred to MBB SA, I was told that MBB's "new policy" was to deny such requests unless the cardholder no longer had ANY CCs left with MBB. As long as you hold a CC, you have to either "use up" the credit or transfer to your other MBB CC outstanding balances.

Not sure if anyone had a similar experience. Thankfully my amount was small and can be used up really quickly.
cybpsych
post Sep 20 2019, 07:21 AM

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QUOTE(cybpsych @ May 24 2019, 12:19 PM)
here's some news to BT-cashout peeps  brows.gif
Refund of Overpayment on Maybank Card Account [ Maybank ]
24 MAY 2019

Dear Valued Cardmembers,

Effective 19 June 2019, we will no longer process requests for refund of any overpayment on an active Card which appears as a credit in your Maybank Credit or Charge Card account(s). In the event your Card account has an overpayment at any given time, the overpayment would be used to offset any subsequent outstanding balance of that Card.

For cancellation of Maybank Credit or Charge Card(s) with an overpayment, the Bank shall proceed to transfer the overpaid amount through the following options:

- Transfer to your other valid Maybank Credit or Charge Card account(s);
- Transfer to your Maybank Savings or Current Account(s), excluding Joint Account and MAE Account;
- You may opt to sign-up for a new Maybank Card or Maybank Savings or Current Account and transfer the overpaid amount to the respective account; or
- In the event you do not have any other valid Maybank Credit or Charge Card account(s) or Maybank Savings or Current Account(s), please do advise us on the Savings or Current Account details of another bank that you wish to transfer the overpaid amount to.
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QUOTE(lilsunflower @ Sep 20 2019, 01:39 AM)
Just a quick sharing on my experience with a credit balance on MBB.

I did an AEON BT for the amount shown in my most recent MBB statement. However, RM8k+ had been reversed because of refunds for a dead laptop and hospital deposits. Therefore, there was a "credit" sitting in my MBB statement of about RM2k after deducting current month spending. When I asked for the amount to be transferred to MBB SA, I was told that MBB's "new policy" was to deny such requests unless the cardholder no longer had ANY CCs left with MBB. As long as you hold a CC, you have to either "use up" the credit or transfer to your other MBB CC outstanding balances.

Not sure if anyone had a similar experience. Thankfully my amount was small and can be used up really quickly.
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yep, new policy by mbb

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