EPP question:
If EPP on RM3000 item for 24months and my credit limit is RM10000, then it will become RM7000 for 24 months, back to RM10000 again after I settle all the installment.

OR

If my monthly installment is RM300, my credit limit will be increased back slowly by RM300 a month. Like first month my credit limit becomes RM7300, then next month RM7600 and so on.

So which one is it?

thanks for the answer

I have another question, I researched about credit card. Some America websites say that we should not exceed 30% of our credit limit to maintain a good credit record. Is it the same in Malaysia?

Is 1. better than 2. ?

1.
First card usage = 1500/5000
Second card usage = 1500/5000

2.
First card usage = 3000/5000
Second card usage = 0/5000

Oh forgot to mention that both cards are from different banks.

Owh ok I now know how they calculate utilisation percentage..
But is there really "30% utilisation gives you a good record" thing?

Hi all, I have a question regarding outstanding balance calculation.

Lets say my statement day is 28th each month.
and the free interest period is 20days which is around 18th of the next month.

I know that if I don't settle the outstanding balance in full before 18th I will be charged interest in the next statement day.

However, if let's say I paid half of it before 18th, then pay the other half of the outstanding balance on 20th (after free interest period liao) then how is the interest being calculated?

Assume interest rate is 18%.

Is it 2 days X 18/100 / 365days X (half of the outstanding balance because half not paid after the free interest period) ??

does that mean, in order to stop the interest being charged. I have to pay off ALL of the outstanding balance?

Hi all,

I have just signed up for 0% installment.

Lets say for the installment I have to pay RM200 per month.

But this month I used the same card for shopping up to RM800.

Does that mean my outstanding balance of this month will be RM1000?

Ok, what if I don't pay in full of my outstanding balance in this month, I just pay RM800.

Will my 0% installment be considered paid for this month. Because I read about something about not paying the 0% installment will lead to heavy interest penalty which I don't want.

Please kindly clarify me on this question. Much appreciate.

but if my installment is RM2400, will I be charged interest on RM2400 + RM200 (remaining balance) if I don't pay in full?
And any new purchases of course.

Because I heard if don't pay the monthly 0% installment, the 0% will be voided and the whole price of the item will be inflicted with interest.

Hi, I have questions regarding 0% installment.

Is it good that I use a single card for installment only, or use different card for different installment? Or there is no difference between these two? ( I see no difference la but who knows got pro that can suggest a better way? )

And personally, I don't use the card that I have installment plan in it. Because if I use the card with installment in it for my monthly grocery, I would have to pay all the outstanding balance in order to avoid huge interest.

Grocery just an example mah *touch wood* if I suddenly need to pay a huge amount for emergency then I wouldn't use the cards with installment as I can't pay back in one go