Few questions to CC experts:

I'm a Citibank Gold CC holder. After Feb 2009, Citibank will charge an annual fee to my CC. When the agent promoted the CC to me 2 years ago, he said I would be able to continue the fee waiver after Feb 2009 if I fulfilled certain requirements or conditions. However, I can't remember the requirements/conditions. I called Citibank but the officer refused to tell the requirements/conditions. Anyone here know the 'trick' to get fee waiver for Citibank CC?

By the way, does Citibank charge for 'international transaction' (e.g. an online transaction made in UK)? I asked Citibank but the officer also refused to tell.

which card are you refer to?

@onemilimeter,
I don't know what the criterias are for waiver of annual fees but if U use ur CC frequently U should be able to get it waived; if they don't waive it for U then cancel the card [I hear most of the time they'll give u the waiver when U threaten to cancel the card - I've not tried it before so *shrugs*]

As to overseas transaction, Citibank charges 1% Administration Fee for transactions made out of MY. Am surprised the Citibank Customer Service officer refused u that information because I got the information when I called them.

@JamesPond,
I'll check with a friend who recently got his purchases converted into a monthly instalment on which bank he used but otherwise I believe all banks would offer the same. U could check with whichever credit card ur holding

This post has been edited by tinkerbel: Jun 10 2008, 04:25 PM

Recently I saw their promotion for visiting japan...
Looks tempting.

Usually I book hotel through GTA..

The CC i'm using is still free for life!

promotion for visiting japan?
Which bank offering?

@kons,
It is possible for trips and holidays to be a bit cheaper but I haven't found the time and budget to visit Japan a 2nd time so I didn't look at those promotions. I do know their hotel rates on the Home & Away programme isn't necessarily cheaper.

Y don't U book that trip to Japan and see if it works? If U want company, I'm sure I can find the time

Citibank should hire as your reply is much more informative than the Citibank officer who replied me.
By the way, do you know if Maybank charges any fee for transactions made out of MY?

can you tell me where is the info?

@onemilimeter,
Am gonna use U as reference when I put my application in to Citibank `k?

MBB charges 0.5% Administrative charges for overseas transactions (according to some forumer here - I haven't verified it on my own as I'm not a current MBB CC holder). You can refer to Post #1 for more information on the charges as we've accumulated them throughout here [DA & UOB does not charge. And we're awaiting HSBC to clarify if there is a charge as we've gotten different information from different departments]

@JamesPond,
It's on the MasterCard Moments website. And the one on the Japan trip is found here

@arsenal,
I just checked with a friend - he would convert his purchases to 0% instalment and usually use Citibank. However he advised to make sure U check with the bank up front esp on charges so U won't be surprised with additional surcharges, if any.

Just what are U planning to buy in August?!

This post has been edited by tinkerbel: Jun 10 2008, 04:50 PM

Better than the HSBC customer service..
They gave me the wrong instructions when activating the ATM card, resulted in 3 torn cards...

I've been using Maybank CC for a few years now, but I'm not aware of any fees charged..
Gee.

@kons,
Thank U.. Now I can consider HSBC if Citibank rejected my job application Am surprised the CS couldn't even give u good enough instructions to activate ur ATM card. And 3 torn cards?! It would have been more of an inconvenience than anything else; not to mention I wouldn't have liked the waiting period.

The charges apparently are embedded as part of the forex or something like that; as in, there is no additional column to tell u, u've been charged the Administrative fees. I didn't see that on my Citibank CC bills too and found forex quite good esp if the 1% was oredi embedded in it *shrugs*

Ah well, since ur an MBB holder, Y don't U call up to double check if there are Administrative fees incurred for overseas transaction - it'll be good to have someone verify that

anyone can confirm whether need processing fee or this that fee when cancelling the Citibank credit card?

Back to the topic of CS again.

In recent experience in canceling my Citibank card, the CS was rather persuasive when I said that I wanted to cancel my card. Asked me why I wanted to do so and I gave my reasons. The person made an "attempt" to get me back but I guess either the persuasion was not strong or the person was not willing to go all out to get me back as a customer. In short, the game was over quite quickly with very little effort.

On the other hand, i have always been a strong critique of Maybank coz I never had a memorable experience with them only many mishaps. Surprisingly when I attempted to cancel my card (more like cancel and migrate all the balances to the Petronas card), the person was extremely helpful and went all out to help me. I can see my TreatPoints is already on my Petronas card but I haven't called to confirm whether my old card is still active or not.

HSBC was always a winner - professional, hassle free and friendly. That's what I call their service right now.

Now the late charge is 1% on amount owing?

I forgot to make payment and late 2 days and was charged for 10% on amount owing....

This post has been edited by jack2: Jun 10 2008, 09:18 PM

Have you included late charge fee?

I guess that it should be counted as late payment fee + 2 day of interest charge.

so sad now no more 20 days interest free period unless we make full payment.

That only happened if you didn't pay full for the past 12 months right?

Interest-Free Period
Effective this July, the good old 20 days interest-free period provides by credit cards will only applicable to those who make full payment before the due date. Those with carry forward balance and not paying on-time will be charged with the interest the day the new purchase is made. In short, the interest-free period is provided only to those paid in full and on-time.

Late Payment Charges
But there is more! The new late payment charge is now based on total outstanding amount, not minimum monthly payment anymore. The new late payment charge increases to RM10.00 or 1% on total outstanding balance, from 1% or RM5.00 of the minimum payment amount. That means if you have an outstanding balance of more than RM1,001, you would starting to pay more than the minimum RM10.00.

Annual Interest rate
First announced 12 months ago by Bank Negara Malaysia (BNM), comes this July, the tiered pricing structure (TPS) will be implemented that saw the annual interest rate reduced. Those who settle their minimum payment promptly will be charged a reduced interest rate of 15% to 17% per annum (pending their payment history over a 12 month period), instead of the 18% previously.

Conclusion
So what do all these means? Let’s look at the following scenarios:

* Those with monthly outstanding balance who made prompt minimum payment

No 20 days interest-free period but enjoys a lower annual interest rate of 14% - 17% of the outstanding balance. No late payment charge.

* Those with monthly outstanding balance but failed to pay the minimum payment on-time

Late payment fee of RM10.00 or 1% charge on the total outstanding balance; 18% interest rate on total outstanding balance; no 20 days interest-free honey moon.

* Those will full payment on time every time

Enjoy a lower TPS asl low as 14% per annum

You see, banks won’t just give-up easily; they give you a lower annual interest rate (TPS) but at the same time, they cancel the interest-free period and increase the late payment charge.

Bottom line, don’t use your credit card simply because you can afford the minimum payment. Better still, don’t use the card if you do not have the money. Cardholders who cannot be prompt in paying the minimum payment will be paying more than before.

Finally, If you are the reward points/rebate chaser, pay close attention to the outstanding amount.

This post has been edited by kelempap: Jun 10 2008, 10:29 PM

I waited 2 hours for that.

So far Maybank CS is kinda cool.
When I was trying to apply the card, I told them it's top urgent matter and I have to get it within one week's time.
They took my application form and I tried calling them on third day and fourth day and they kept on saying it's still processing.
I thought they would never make it...
But right on the fifth day, they called me up and told me the card is ready for collection.

Citibank improves its deal on its Shell card.

http://www.citibank.com.my/APPS/portal/gen.../card_shell.htm

Gold card users could enjoy up to 5% rebate* on all Shell Fuel.