Bought new iphone with installment only to found out that credit limit was deducted in full amount instead of the monthly charges. Panicked a bit when my cc got declined.

Luckily request for increase CL was approved in hours via M2U. Huhu

nope.

even with installment, the full amount must be "reserved" from your available CL.

the monthly installment will be posted to the card on statement date.

Will it be reduced over time according to our payment schedule?

yes

so basically he used up the CL correct ?

Correct!
For eg, if his CL is Rm5k, and the iPhone price is Rm5k, if he swiped his CC for the iPhone under 12-month 0% installment, the bank will deduct the full amount of Rm5k from his CL leaving him with Rm0 in his CL

imaging you operate a bank.
you assign RM10k CL to your customer.
your customer swipe RM10k for installment. CL not deducted at all.
your customer swipe RM10k again. No CL deduction.
rinse and repeat.

so, are you willing to take the risk for the customer to keep owing you without any CL blocking/reservation?

Hi all, need your help to clarify. In my credit card statement, there is item "MGMT CHARGES" that charge me RM7.++. May I know what is this? I paid my card on time before due date every month via standing instruction. Thanks

That's islamic card terms for interest.

THanks. Pay on time also kena interest?

Interest is haram.
No interest. Full rebate on Management fee.

Rightfully no. Can you confirm you paid full statement balance before or on due date?

Ok here's the chronology.

11.11 - bought a phone from Lazada - Rm1611
12.11 - return back the phone
26.11 - 11' 19 statement out
27.11 - Lazada refund back direct to credit card
1.12 - Paid outstanding balance for 11' 19 (minus the phone price)
26.12 - got charge mgmt charge RM7.++

In this case, still cannot pay outstanding balance? Let say if I pay statement balance nonetheless with the phone already refunded, what will happen to the surplus?

This post has been edited by Exa_Bytez: Dec 29 2019, 04:21 PM

Yes, statement balance which includes the 1611. The credit will be used to offset your future transactions.
After statement balance is out, did you spend on anything else? Also how did you pay this payment? M2U?

This post has been edited by fruitie: Dec 29 2019, 04:34 PM

I normally paid statement balance via autopay on 1st of the month. But in this case, I manually paid outstanding balance only via M2U. I did spend on some other things after 11.19 statement balance was out and all these spending are reflected in 12.19 statement.

If you didn't spend anything after statement balance is out, that means statement balance amount = outstanding balance amount, then you can pay the outstanding amount (minus refund) as MBB doesn't allow one to pay more than outstanding amount.

In your case, you did spend, so it's different. To make it simpler for you, always pay statement balance and you cannot deduct the refund on your own.

Thank you for the clarification.

Try call cs ask for waiver,

This is the right thing to do. While paying statement balance always is good advise, once that hasn't been done most bank should be able to assist in refunding the interest charge once CS sees the chronology of transactions.

guys, can we use EzyPaymnet if want to buy bike?
bike value around RM40k