dont think they will calculate at this way
are you sure about that ?
never see any bank in msia runing this way ,even foreign or local
how did you get the calculation ?

like you say lo, not suppose calculate in this way.

but CIMB did.

i also never heard of this kind of calculation before.

i already kena here, so take this as a warning for all of you lo.

   

yes.

they email me the breakdown calculation on the financial charges in excel file in few working days after i called to clarify.

that's how it calculate

how ridiculous it is

Cimb cc no longer offering RM 15 rebate to retain u from cancellation already. Just call and cancel in a minute conversation & no retention team will call up

From cimb website

Finance Charges Free Period
Full payment on previous statement balance:

Enjoy an interest-free period of 20 days for all new retail transactions from statement date.
Partial or minimum payment on previous statement balance:

No interest-free period.
A finance charge will be levied on your unpaid outstanding balance and all new transactions from the date the transactions are posted.

Mind to share ur statement for study ?

do share the excel file here, but remove your info and card number 1st

this is how they tabulate the daily interest on all transaction, not only on outstanding balance.

Just a heads up on people booking overseas flight tickets via non-Malaysian airlines.

I booked KLM flight tickets to Europe for nearly RM20k with CIMB CR (since I exhausted all the cashback options from other cards, and didn't have enough CL from my MBB Amex due to maximising BTs).  This was a big mistake as CIMB CR does not give cashback on flight tickets, AND, I was charged cross border charges even though the transaction was in RM.  To make matters worse, KLM also charges for using CC.... which meant my total "extra charges" were very significant.

This was a very expensive lesson, and I should have thought about it before using my CIMB CR.

As I was so bitter, a few days letter I settled the balance (via BT) and quickly cancelled my card haha.  I will reapply after the cooling off period and hopefully get some acquisition offer cashback to recoup my losses.

clarified with cimb.

as long you did not settle full amount of your statement balance, hence all transaction will be charge interest, not outstanding.

in summary
Spent rm10,000.00
paid rm 9,900.00 ( before statement )
Statement balance = rm100.

paid rm 60 cash, hutang rm40.

interest charge is daily interest x rm10,000.00 x no. of days untils the ( rm40 ) fully paid.

 

crazy

this is how they tabulate the daily interest on all transaction, not only on outstanding balance.

maybe they updated new clause ?

or maybe the clause is there since day 1 ?

CIMB-Giant Chinese New Year 2018 Spend and Win Giant Voucher Campaign [ CIMB ]
Campaign period: 1 - 15 February 2018

To be eligible, simply spend a minimum of RM138 in a single receipt at your nearest Giant stores and be entitled to one (1) entry during the campaign period.

Grand Prize x 1	RM11,880 GIANT VOUCHER
2nd Prize x 1	RM6,880 GIANT VOUCHER
3rd Prize x 1	RM3,880 GIANT VOUCHER
Consolation Prize x 188	RM380 GIANT VOUCHER

Terms & Conditions:
1. Payment must be made with a CIMB Bank debit card, credit card (except Platinum Business Card and Fuel Tanker Card) or Prepaid card.
2. Eligible participants will be entitled to one (1) entry with every minimum spend of RM138 in a single receipt at Giant stores, Malaysia during campaign period.
3. Every eligible participant is entitled to win only one (1) prize throughout the campaign.
4. Shortlisted winners will be contacted by CIMB Bank via telephone / SMS within 12 weeks after campaign ends. Shortlisted winners are required to answer one (1) question with the correct answer via telephone / SMS within specified date and time.
5. Subject to full Terms and Conditions: For English, please click here | For Bahasa Malaysia, please click here.

this is how they tabulate the daily interest on all transaction, not only on outstanding balance.

found something interesting, base on formula you provided. also similar iMoney - Understanding Credit Card Interest-free Period



if somehow you make yr payment in advance & swipe on later date (untested & unproven)

*maybe bank safe guard/supersede "-interest" suddenly feel like better than cash back

So all banks have changed or adopted a new way of charging interest?
And it is slightly unfair or disadvantage to consumers even though you have made some partial payment before statement date.

CIMB-Lazada Prepaid Card ---- EXTENDED to 31 December 2018!

https://www.cimbbank.com.my/content/dam/cim...teT&C-31Dec.pdf