@clawhammer,
I thought it was 1 June 2008 until I checked out the banks' website on this tiered interest rates. I got this off Citibank's site :

"Citibank credit cards are designed with benefits that allow you to enjoy and live life to its fullest. As such, effective 1 July 2008, Citibank will introduce a new Tiered Interest Rate Structure on retail purchases in line with the latest guidelines by Bank Negara Malaysia."

---Added---
Another issue with Citibank came up this afternoon when I was trying to log onto my online account to make bill payments. Apparently my Clear Visa Card account has been shut down / closed. Here's the gist of the story:

1) i needed to pay bills
2) i couldn't log in to my citibank online
3) i called called customer service
4) they tell me this account i'm logging onto has been closed / shut down
5) i tell them it's not possible because i just used my card tis afternoon
6) they tell me it can't be cause my account is shown as closed in the records but i ask them to check anyways
7) they tell me there is a record of a transaction going through this afternoon through this closed account
8) they got confused and put me on hold whilst they got their manager to speak with me
9) i wanted to know the reason for this account to be closed, and why the physical credit card was usable if the account is closed
10) she explained the platinum visa card offered to me will override my existing visa card cause it's a higher tier
11) she explained the physical credit card of the closed account is still usable for the next 90-days
12) she couldn't explain why i wasn't informed about the card being an upgrade, that my RM should have told me

Now I wonder what's going to happen if I decide not to want the Platinum Card *grins*

This post has been edited by tinkerbel: May 27 2008, 05:46 PM

@yewkhuay,
I've sorta decided I'm going to decline this Platinum Card Citibank offered. Will just need to let the bank officer know when she calls me tomorrow.

@nicole_nic81,
I don't see what all the fuss is over a Platinum card. I also know a couple of people who declined wanting a Platinum Card for several reasons.

@jchong,
Nolah.. where got a few others?

@b00n,
It's free now but I don't think it'll remain free so instead of going through the trouble having to cancel the account later; Y not do it now?!

@clawhammer,
No one's asking U to compete and Y would one even want to compete on the number of credit cards owned?

@clawhammer,
Y would U need to clarify my stuff with jchong? Since when did he become my Finance Manager or husband? Now Now....

@clawhammer,
With a VIP tag, U shouldn't be spamming, seriously

@b00n,
U haf a point; and I kept with Citibank due to their evergreen points but I'm beginning to think it might be better for me to move over elsewhere. Just to check, how's HSBC reward points redemption like? And how long are the points valid for before expiry, if any?

I personally think Citibank does quite a bit of promotions for their credit cards; like this time they've got this dunno what contest and last time they had this dunno what this contest ... then again, I haven't won so *shrugs*

@vin_ann,
It's not true about local banks not promoting their card credit cards. CIMB is getting quite aggressive

@David83,
I've just double checked on the HSBC points - it's valid for 3 years. CIMB is promoting their Petronas card or whatever card isn't it?! *shrugs*

@MilesAndMore,
I also checked on the 'Administrative Charges' of 1% on HSBC credit cards - apparently my RM tells me there is no such charge to the customer and that is applicable throughout ALL HSBC cards. I told her I got a different information from the Card Centre CS and she tells me she will get back to me.

@Hybz,
Visa used to be accepted worldwide than Mastercard but that's not the case now so it's really a matter of preference. I believe Mastercard is probably more well accepted locally but as I don't work with the card centres I don't have the statistics to support it.

@GuyzNexDoor,
Y on earth do U even haf 14 credit cards to begin with?! *tsk tsk* I onli have 2 from Citibank and they've managed to mess that up! Just write a letter telling them U want to cancel ur credit card; no need to be fanciful or too long. Direct and straight to the point will be good enough. I don't have a sample for it though; sorry - I could give u a sample of a complain feedback letter though *grins*

I'll CRY if I had to carry 14 cards around! But ur rich so ... rejoice





This post has been edited by tinkerbel: May 28 2008, 03:24 PM

@SnoWFisH,
If it's going to go into negative balance, U might as well cancel it. At least that way, even if the banks continue to send u statements regularly, U can always tell them U've cancelled the card. It's also to keep a good track record.

I had some discrepancies with my latest Citibank bill (I was charged RM0.54 sen Finance Charges). Knowing my call is going to cost more than that, I decided to call the bank and ask them what it was for and apparently it was for some late charges of which I never even know! So I told them to go waive that damn thing - I wasn't going to let this RM0.54 sen ruin my credit standing !! *grins*

@he-sham,
I don't know much about BSN's Credit Cards [act, I don't know much about local bank's credit cards]. As a fresh graduate, U probably should be able to qualify for a DA Graduates Credit Card.

Also, with the market being so competitive out there, banks are probably willing to offer U a card

@nicole_nic81,
Since Ur on the topic of platinum parking at 1U, I just like to double check some information; the parking isn't FOC, right? And parking charges are RM8 p/entry. Can U kindly confirm please?

Also, I read U have 200k+ reward points unredeemed. If it's not from Citibank, I suggest U check the expiry and make the redemption before it's wiped off. Most banks reward points are valid for 3 years.

With all the 'rubbish' that's happening in the market, I no longer hold onto the believe that a Gold credit card might have v high credit limit! We all certainly know that doesn't hold true for me

@zenquix,
I don't suppose the agent can do much; but since U applied for that card why don't U just keep it? At least let the poor agent make some commission - just keep the card for 6 months onli mah - U don't want to use, then keep it at home lor At least that's what I'm doing. I do intend to cancel my HSBC Gold Card but thought I'll wait another month so the person who signed me up would be entitled his commission [ok, I'm nice!]

@GuyzNexDoor,
Just what kind of 'travel' benefits does one get from a Platinum card? It's about the same as a Gold card if I'm not mistaken except insurance limit is higher for the Plat card.

@b00n,
I actually thought both Master and Visa now charges the same % to their merchants. I could be wrong since I ain't in retail. It is true that Visa used to charge slightly higher hence merchants in MY preferred Mastercard to Visa; but that has since changed [or so I thought].

@nicole_nic81,
I do know about the Plat parking @ 1U [the onli drawback is that it's not covered!] but I certainly didn't know it was FREE [or was that free to HLB plat holders onli?!]

If ur points are from HSBC, U might want to check the expiry date because they do expire - i've confirmed that. Points have a 3 year validity date so I do suppose points accumulated in Y1 will be wiped off in Y4, etc etc.

Y not change something? And U sure haf accumulated lots of points!

@nicole_nic81,
Dat sure is a lot of shopping trips. Well U could alwiz check how many Enrich points U can convert ur existing HSBC points and see if it's gonna take U somewhere

@thtan,
Through my conversation with Citibank there are certain "criterias" for which waiver can happen except those criterias aren't published and only they know. If ur card is expiring soon, U could call up the bank to make a request [Citibank tells me they don't do 'automatic waiver' but if a customer called to request and if he met these criterias, a waiver will be granted].

I did get a waiver off my annual fees in Y2007 [somehow I just decided to ask since I was on the line with them]. Once [prolly in Y2004/2005] I tried calling for a waiver but I didn't get it (maybe I just didn't push hard enough, neither did I threaten to close my account).

Anyhow, back to ur case. If RHB does grant u the waiver, at least u've saved RM500 otherwise all u've lost would just be some time and well, probably a couple of sens making that call Worst come to worst, do what everyone does; threaten the bank [it might just work if U use this card as ur primary card but if it's dormant, I doubt so]

@wvt,
If U look at the PLUS logo again, U'll notice the logo is different from our PLUS Highway logo

@jchong,
From as far as I can remember, Citibank had alwiz been promoting their credit cards; other foreign banks onli started doing so in the recent years. I agree with U re foreign vs local banks' credit card - Citibank HAS failed me in the past when I tried to use it in Australia.

Admittedly, I've never held a local bank's credit card [up till when I applied for my DA Graduate card but that card remains dormant]

For a local bank, PBB is quite good. I don't know about their credit cards though cause surprisingly they've never bothered to offer me one despite it being my primary bank.

@Underhill,
Er.. I don't think so cause most people do draw down their CA. If U had $60k in FDs, they probably can look into that to give u a higher CL

@Underhill,
I don't travel too frequently overseas and even when I do, I rarely use my credit card for payments. It would probably be better if U got someone who travels frequently to give U their feedback instead.

Anyhow, the one time I decided to use Citibank, it failed me. Since then, when I do make overseas payment I would use UOB [when in MY Citibank is my primary card. UOB however is my primary card when I'm abroad]. Also, I recently found out there were additional administrative fees over and above the currency conversion. Charges differ from bank to bank. Citibank charges 1% whilst there's no charge on UOB [for more information, please check out Post #1 - i believe vin_ann would have added this information to Post #1]

UOB has never failed me, not even once!

@clawhammer,
The way to get round paying the 1-2% is to use a bank which doesn't load the Admin charges to the customer; that would be UOB, DA. Am still waiting for HSBC to revert cause I got different information from my RM than what the Call Center gave to me.

@jchong,
Er... I don't know about local banks credit card as I don't carry one *grins* But well, to be fair to Citibank, they only failed me once! Btw, I just found out the maximum credit limit given out on a Clear Card is RM15k. Citibank's just reverted to me and told me I could opt out of the Platinum Card and get my Clear Card back but they wouldn't be able to give me the original credit limit offered with the Citi Plat.

So how so how?! I'm travelling again these few days and if I do want to change back to my Clear Card, I've got to wait for them to process it, send me a new one. In the meantime, what am I going to use to pay my bills?! *grins* Also, I've got to reset the Citibank Online and all.. uGhh!!!!!!!! Maybe I should just stick with the damn Citi Plat!

@thtan,
Put a reminder somewhere so U won't forget to call the bank for a waiver. If u do forget and if it does reflect on ur credit card bill, just call the bank and ask them if they can give u a waiver; if they do then good. If they don't U can still choose to cancel the card - just pay up what ur owing to them. Or, pay the RM500 fees *grins*

@jchong,
UOB apparently does haf an automatic waiver. Dad was getting annoyed having to call them year after year so the last time he spoke with them, they upgraded his card to a Platinum and told him he will get his waiver if he makes minimum 12 transactions with the card. As dad is super loyal to UOB, that 12 transactions is sap sap water.