better to write "For xxx Bank xxx credit card application only"

Hi guys, quick question.

The annual salary requirement on most credit card is total gross salary or net salary per annum?

Gross.

Oh ok. Thanks!

Hi sifus, how does SMF (share margin financing) affect cc applications? Will high outstanding on SMF cause cc not likely to approve?

Is annual fee usually charged at the beginning or end of year

On your card's anniversary month.

I have a question on foreign transaction, i bought an item from UK at 100 pounds on monday, i sign on the transaction using my credit card with the choice of transacting in foreign currency rather than setting direct conversion to MYR on the day itself.

Subsequent to that i return the item(Within the stipulated period), hence a full refund of 100 pound will be refunded to my credit card.

As what i check my statement on monday i have lock on with a expense of RM565, however 3 days upon my return of my item, i got a refund amount of RM550.

Would like to clarified shouldnt the refund amount be net off at RM565? As its the same transacted item/merchant/amount in foreign currency?

Your experience and advice is much appreciated. Thank you.

This post has been edited by haru20: Aug 24 2017, 11:00 AM

because it was transaction in foreign currency, though the paid and refunded amount are the same, the forex on those 2 days differs. That's why you get the different amount in MYR.

Yup aware its due to foreign translation different between both days, but shouldn't it be nett off the same, rather than there will be lost or gain at my side if the FOREX rate weaken or strengthen?

If so, i can arbitrage on foreign translation if i refund it at the right time, given our fluctuation of FOREX rate?

This post has been edited by haru20: Aug 24 2017, 11:11 AM

Correct!

I have experienced that once and made a few bucks.

Hi Sifus,

Let say i buy furniture amount RM2000 on installment, bank will lock RM2000 of my CC limit. After I pay the mothnly, the limit that lock will be decreasing right? it will not lock until i finish pay the RM2000?.

Yes, correct. The lock limit will keep decreasing monthly if you paid the installment on time.

it will follow the amount that i pay right? for example the installment 100 and i pay 200 so the lock limit deduct 200?

credit card requirement based on gross or net salary?

Gross

yes

If I apply for two credit card with the same bank, would they just give combined limit instead of per card limit?

I have one currently with bob, but the card is not that great. Looking to apply a new one with the same bank. In this case, will they give a new limit for a new card or just combined limit per the old card?

Will be sharing credit limit regardless number of cards you have in the same bank

Another case that bank may increase credit limit if your income increased based on last application

If you referring to Islamic card and normal card, then different case.

Example:
MBB2 card = 10k
MBB Islamic card = 5k

Islamic card only CL for 5k, can't use more then that

I see. They will only give different limit if one is conventional and one is islamic.