1 no0b question... received a text from my bank, say got promotion on balance transfer. But what's the purpose if I only have ONE (1) CC only? How to transfer, and to which CC?

makes sense, thanks! and it is usually not accepted by the same bank to transfer balance balance from 1 CC to another, of the same bank?

What are the reasons for balance transfer, given the circumstances in Malaysian banking industry? All (?) banks charges the same interest rates on outstanding balance, and there fees for doing balance transfer. other than consolidating debts to one bank, not sure what other incentives....

So technically to consolidate CC debt to one CC? But the balance transfer would incur fee, so the 'benefit' of transferring is offsetted against the transfer fee.

Anyway, wonder if there are banks in Malaysia with lower interest rate p.a? I think all pun standard, which is up to 18%pa, right?

On the pretext of creating 'long-term, fruitful relationship' with customers


The act was clearly unethical, but is it illegal? and it is cute that it costs thousands and thousands of accumulated points to redeem stuff. Why bother having such ridiculous items for redemption, id it is almost impossible to accumulate points, the ethical way?

Penalty charges for credit card is 18p.a., but how is it charged? based on the outstanding balance as at payment due times the number of months?

Say, outstanding balance as at amount due is RM1k.
Penalty is RM1k * 18% / 12month = RM15?

The bold refers. Are you sure? Fees are charged for outstanding AND current charges?

Whoa, now I understand my banks are eager to give out cards, and why people got whacked for paying late!


Sorry I no0b, but need to ask something..

If let say the statement amount is 1k. due on 30th each month.
So let say no swap after the 1k, at the end of next month, how much would the interest be?

I'd say 1k * 1.5% * 1 month / 365 days. Is this correct?

Like, I buy 1k for TV. have it for 6month 0% interest. But I have outstanding of 2k total cahrged for my CC, and I pay only the minimum. Will then my 0% be charged for interest?

Whoa! Now I understand how banks make quick bucks! So to confirm, the charges won't be separated, only to take the ones with no 0% pleadge? all outstanding amount pun kena whack?

Guys, help me out please?

Payment Due Date: 7/4
Statement Amount: 3k
Payment made up to 6/4: 2k (1k yet to pay)
Unbilled amount: 1.5k

So what happens on 8/4 is the above remains the same?

Will I be charged penalty...
on 1k (being the amount unpaid), or 1k + 1.5k (being the unbill amount)?

^ But the Finance Charges will stick with me until I settled ALL (including the unbilled transaction) or up to the point I settled the outstanding amount only? This is assuming that I do not charge anymore to my CC..

Fresh grad and you are already earning at least RM4k?

My CC (Maybank) offers Ezy Payment scheme, going at 9% for 6 and 12months. Between the two, which provides cheaper total interest charges?

This is exactly what's confusing me. Says that it is 9%p.a. for either 6months or 12months. Supposedly opting for 12months makes more sense, as I can stretch out the payment period. But I suspect that if this is a one-time charge, then wouldn't the bank charge me a higher rate for longer period, i.e. not flat 9%p.a. for both duration.

btw, they provided me this for illustration purposes: http://www.maybank2u.com.my/WebBank/EzyPay...sasat051115.pdf


If only, but I only have 1 CC

Any banks that provides 100% online CC applications, and relatively fuss-free and fast approval?

Can one exceeds one's credit limit? And if can, what would happen to the amount exceeding? Have to be paid immediately?

This post has been edited by watabakiu: Sep 20 2018, 11:04 AM

Any1?

When opting for CC, is it wiser to opt for cashback or collecting points?

Cashback means get cash and can use it to buy whatever we want. Points mean have to accumulate point, and can only use to redeem products the bank offers.... at hugely inflated price!