BT > statement amount, request bank as you overpaid and no longer has need on the extra limit, so request bank to transfer back to saving

for banks that don't require a card statement, you can put however much you want that is within your probable BT credit limit.

Otherwise, you need to stick to the actual card balance(s).

Let say for card A,  i have epp plan ongoing or cash advance program (like cimb cashlite,  maybank cash treats)... 
Is it possible to do BT from card a to card B (different bank)?

Correct, I did that with 2 forms, 6 banks in 1 email-application.

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).

I haven't done CIMB, but I think some other forummers may have. Best wait for their verification. Some banks are difficult and it may not be worth the hassle.

Regarding your CCRIS - This one I have totally no idea, as I'm not sure what banks are actually looking for when they do a CCRIS search. But 7k is really nothing, especially when compared to car / housing loans.... so I wouldn't worry too much.

As I mentioned, my total BTs usually exceed RM100k but I have had no problem getting new credit cards with very high credit limits and my housing loan quotations were all favourable. I think a big issue is ensuring you haven't defaulted. Again, maybe other forummers have had a different experience.

General rule of thumb : Treat the installment like your normal expenses

let's say you have 12 months BT for 12k, so each month maybank will post a transaction of 1k to your cc statement

let's say on 4th month, you have normal swipe total RM 2k. then you have BT RM 1k. so total amount need to pay is RM 3k for that month

if you only pay let's say RM 500, so you owe maybank RM 2.5k and maybank will charge interest on that RM 2.5k

General rule of thumb : Treat the installment like your normal expenses

let's say you have 12 months BT for 12k, so each month maybank will post a transaction of 1k to your cc statement

let's say on 4th month, you have normal swipe total RM 2k. then you have BT RM 1k. so total amount need to pay is RM 3k for that month

if you only pay let's say RM 500, so you owe maybank RM 2.5k and maybank will charge interest on that RM 2.5k

Yes. For the remaining balance all will be charged with interest.
Will really suggest not to use credit cards if only want to pay minimum.

just to make a bit clearer for illustration

let's say the cc due date is 30th of each month, so statement date is 10th of each month
In the 4th month, let say I pay only rm400 instead of rm1k (this is BT part only).  so balance of Rm600 will get charged with 18% rate
Coming into the 5th month, the next 1k installment appear. So total balance to pay is Rm1.6k.

My answer

as i understand it, the 5th month 1k BT installment as long as you pay before 30th, no interest will be charged. am i wrong?

Got my waiver too 😊.. is that mean all our maybank cards have the same statement date, every 12th? 😅

whatever you have not paid out of the 10k

it will show as "outstanding"

Yes you got it.

Yes, bank B will not know your spending in bank A.