Let's continue your discussion in this new thread.

1. Visa
2. Mastercard.
3. JCB
4. AMEX - Charge or Credit Card
5. Diners Club
6. Etc.

1. Annual fee matters

No need to request for waiver
CIMB Direct Access Platimum and Gold - requirement Professional/Graduate.
UOB Platinum - got to have BOTH MasterCard and Visa and swipe minimum 6 times/card.
Alliance Platinum - swipe 12 times a year or spend RM3,000/year.
RHB Evo - got to swipe once a month or RM8 is charged for that month.
OCBC Platinum Robinson - got to spend RM8K/year inclusive of minimum RM1K at Robinson
MBB Flex -got to swipe twice a month or else charged RM3.95
Citibank Choice - 2 transactions in a month
CIMB Mastercard Paypass - free for life without conditions

2. Tap and Go - no signature required matters

Visa Wave - MBB, UOB
Mastercard Paypass - CIMB, CIMB DA
Visa payWave - MBB Petronas

Paypass limited to RM120
Visa Wave limit should be RM150


3. Important Notice for CIMB and CIMB DA card holders

New CIMB i-pay.plan

4. Credit Card linked to Petrol Giants

BHP-UOB
Shell-Citibank
AMEX charged card gives rewards point (presently 2X if got Turbo 3X) for pumping petrol at ALL petrol stations.
Petronas-MBB Visa Gold with payWave (free for life with no conditions)
Petronas-CIMB Mastercard Gold (free for life)
All petrol brands with CIMB DA Mastercard with rebate up to 2% monthly*.


5. Standard financial charge (interest rate)

Retails purchases: 18% p.a or 1.5% p.m from statement date upon paying the minimum amount.
Cash advance: 18% p.a from the date of withdrawal.
Late payment: 1% of outstanding or RM 5 whichever is higher.
Minimum payment amount: 5% of outstanding or RM 25/RM 50 whichever is higher.

*warming
new BNM ruling whereby if you are not a full pay master of your credit card for the past 12 months, beginning from June/July 2008, all your transactions would be charged finance charges (17% p.a.) the moment you swipe. It means irregardless what you buy be it petrol or PC parts, it will have finance charges starting on the transaction date itself.

6. Complementary Cards

1) Citibank - Just deposit and maintain RM200k
2) UOB - Opening deposit of RM300k with maintenance of RM200k
3) Standard Chartered - Deposit & maintenance of RM200k
4) OCBC - Opening deposit of RM300k with maintenance of RM200k
5) HSBC - Deposit & maintenance of RM200k

7. Amex - Charge card
AMEX charged card gives rewards point (presently 2X if got Turbo 3X) for pumping petrol at ALL petrol stations.

Another benefit AMEX have over others is that they presently have 6 months 0% installment for any transaction. AMEX is truly 0% as they is no handling or surchage fees as compared to DA and UOB.

8. International Transactions
Mastercard and Visa charges a surcharge on top of the exchange rate. The banks also choose to charge an additional administration charge on top of that

Maybank: 0.5% (waiting verification)

CIMB/DA: None

Hong Leong: 1%

PBB: No Info

Citibank: 1% --> verified by tinkerbel

HSBC: 1% --> HSBC will also charge a Misc fee; bank isn't able to provide details on what that is but according to CS whom I spoke with, there's a small misc fee. (contribution by Tinkerbel)

EON: 2%

UOB: NIL

Standard Chartered: 1%

Credit Card Cancellation Letter

[Your name]
[Your address]
[Date]

Dear Sir or Madam:

Please let this letter serve as notice that I am terminating my credit card account effective immediately. Please close the following account:

Credit Card Company: ____________
Account Number: ________________

Please send me written confirmation that my account has been closed. Also, please confirm that you have notified all appropriate credit card bureaus that this account was closed at my request.

Thank you for your prompt attention to this matter.

Sincerely,
[Your Signature]



Credit Card V2 Thread

This post has been edited by vin_ann: Jul 14 2008, 11:47 AM

@vin_ann,
U forgot to mention Complementary Cards (it was first brought up by lwb if I'm not mistaken). Most banks do give these complementary cards out:-

1) Citibank - Just deposit and maintain RM200k
2) UOB - Opening deposit of RM300k with maintenance of RM200k
3) Standard Chartered - Deposit & maintenance of RM200k
4) OCBC - Opening deposit of RM300k with maintenance of RM200k
5) HSBC - Deposit & maintenance of RM200k

Am not sure about MBB, CIMB, PBB, HLB.

sure.
anythings im miss out, pls do let me know ya.
i will update.

today applied UOB card coz KESIAN the credit card lady..... she gave me a toiletry bag which i hav many better at house....

UOB One Card?
then u have the chances of wining the 50% off petrol for 1 year. haha.

@yewkhuay,
Nice or not the toiletry back? Nememind lah.. next time U come over me house stay the night, bring the bag along - that way you can keep ur toothbrush and shaver inside it

This post has been edited by tinkerbel: May 7 2008, 11:23 PM

beside apply the card,did u get her phone number?

@wvt,
U don't tell me u apply credit card only because U want to kau lui?!

got such thing? she didn't tell me...

when can i come over????

oh, u wan?

@tinkerbel,
For CIMB (via entry to CLUB CIMB), I can't see a similar availability for a Complementary Card but instead they offer a pre-approved CIMB Enrich Mastercard Platinum. The requirements for CLUB CIMB would be ...

Individual depositor with a credit balance of RM150,000 and above.
Individual Unit trust investor with an investment amount of RM100,000 and above purchased through the bank.
Individual mortgage customer with a good track record and facilities of RM500,000 and above.
New mortgage customers with facilities of RM500,000 and above.
Individual holding a credit card with a limit of RM75,000 and above with good track record.

However, if you were to dig further into the card Q&A, it mentioned about the a chargeable annual fee of RM388 p.a. for Principle and RM198 p.a. for supplementary cards.

---

Added on May 7, 2008, 11:30 pmI got many nice toiletries bag from my trips. (I get to stay many nights ?)

This post has been edited by hye: May 7 2008, 11:30 PM

@hye,
With so many banks offering 'free' cards I wouldn't want/need to pay such subscription! Am not interested in a CIMB Credit Card anyways *grins* Already have a DA so that's good enough *grins*

Er.. U got to get yewkhuay's permission, then my folks and then the rest of the darling's!

@yewkhuay,
U come over often enough what! Don't pretend pretend lah !!!

This post has been edited by tinkerbel: May 7 2008, 11:33 PM

@hye,
queue up! bro...

@tinkerbel,

but i haven't even entered ur lovely room.....
enuf for spamming....

Yeah DA cards are good enough actually. The only downside is their reward system sucks

---

Added on May 7, 2008, 11:40 pmJust trying my luck ... (Still queuing)


This post has been edited by hye: May 7 2008, 11:40 PM

@hye,
You're absolutely right. I don't like it that their points expire yearly but I don't use it as my primary card so it's ok i guess, just use it for whenever I need; such as 30% discount off Beauty & The Beast tickets, etc

my hsbc card reject liau.I also donno why =(

is hsbc very strict?normally do hsbc give high credit?

how about alliance bank?i see many alliance bank agent promote credit card now.requirement for gold and plat more high for alliance.anyone got their card?

@siutimtim,
HSBC rejected ur card? Now that's weird cause I didn't think it was that difficult to obtain a HSBC card. Everyone I know who applied for a HSBC card received theirs.

Yes it does seem that HSBC gives pretty high credit limit - I've just slightly above RM50k credit from HSBC.

direct accesspoint last for 3 years...

@arsenal,
I'm surprised cause I first started using me card last year and the points which were accumulated expired last November; I only found out in December! Should I call and make a big fuss?

Only if you are a Platinum card holder. Gold card holder points last for only 1 year.

@tinkerbel .... there's nothin wrong with your points statement

can use ur card to pay d/p for a house dy......

i dont think so...because my statement showed the points expiry around 2010...so 3 years kua...

I can confirm that too. I just checked my statement.

My mistake.

No worries. Somebody did tell me that DA points are valid for one year.

So what's the final conclusion here?! Are the points valid 1 Year or are they valid 3 Years?! If 3 Years my points from last year should be valid till 2009! Ah well, I don't have sufficient points to redeem stuff anyways.

@yewkhuay,
You actually do have a point. I should check with developer if I could make payment through credit card - I need additional RM50k (over and above the RM30k booking fee) to make up the 1st 10% upon signing of S&P [it's not my fault lawyer's haven't called!]. With that, I should have sufficient points for that Samsonite bag

Oh No! Samsonite bag's from Citibank and my credit with them's <RM15k!!! *ugh*

Check your statement (at the bottom right side).

My statement said 2011.

@David83,
I do not use DA as my primary card; only when there are 'good buys' or discounts hence don't have monthly statements. Statement comes only when I've charged something to the card. I'll see if I could find one from last month; don't usually keep the statements *grins* But should have 1 lying around in the office somewhere!

Will check and revert later.

Same goes to me. DA is also not my primary CC.

I got rejected by HSBC last year also
My company is banking salary there, they know how much I'm getting a month
Maybe they don't like I write a cheque every month and transfer 99% to another bank to reduce house loan.

Anyway, come to think of it... not a loss as I won't be using it much either.

Depends on the developer. I managed to swipe 5k or 10k (forgot) without additional charges couple of years ago. They only allow a fixed max amount, e.g. 10k. Not 10% of the purchase price.

Correction for Visa Wave and Paypass.
Paypass transaction limit should be RM120 while Visa Wave limit should be RM150

RM50k credit?That one is plati card?My RM5k also don have.haha

anyone have MBF BT calculation table?

i dun thinks HSBC will give higher credit. its all depends on the individual. for the fresh grad, the credit will be low. while my DA gives me the highest credit among others.

---

Added on May 8, 2008, 12:34 pmupdated.

This post has been edited by vin_ann: May 8 2008, 12:34 PM

If I got gold card or platinum card but income not high,I can apply Alliance or UOB standard gold or platinum card?

The agent say will give back same card type but if income not that high they approve or not?

UOB and Alliance bank black colour platinum card very pretty.Can use ONE plat apply that platinum card or not?HAHA. (I know can not la because ONE plat is cheap type punya platinum =(

@cute_boboi,
I don't think HSBC looks at it that way - at the v least, ur account is seen as 'active' ! I've no idea why they rejected ur application though *grins*

I'll definitely check if credit card facilities are available; they probably don't allow cause they've got to pay the 0.3% either to Visa or Mastercard and U know lah... developers a.k.a. kiamsiap!

@siutimtim,
I've <RM15k on my HSBC Gold Visa and the remaining credit from my HSBC Premier Mastercard. Don't hold any HSBC Platinum though.

You can always put in an application to UOB / Alliance for it; no harm and it's free anyways

And what's so nice with the UOB / Alliance Black Platinum card? It's just a card and it's just a colour right?

Why do you want to have so many cards?

@Dyong,
Cause dont' have cash in the wallet, need these cards to make the wallet look bulkier, just to well u know, impress the gals

I would rather have a fairy by my side

One Platinum is not classified as same as normal platinum, as far as I knew.

Anyway, just the colour of card different, why bother so much?

Silver, gold, platinum, blue, red etc., still a credit card which when machine read it, no different as a credit card.

One can have gold card with credit limit of 50K while another one with platinum with credit limit of 20K only.

Different cards can access different offers and discounts mah.

If all card free,more card also can if I control my card use If guy got plat card I also more like go out with him

Also check all website plat card really get many extra offer.

actually any low income people but can get plat card?possible?

I also like having many cards, which include debit n loyalty cards..
Got 5 cc fr 3 banks, 4 debit cards.. n plenty of loyalty/m'ship cards.. mesra, jusco, vacation, bookstore, clubs.. occasionally used..

dunno y, though the wallet may get too thick.. this cards are like collectibles to me.. at least most of 'em are useful.. hehe..

it's seems like the income group people is not matched with the Platinum.

since we are lower income, why need to get Platinum le?

lower income = lower expenses = classic / gold card

higher income = higher expenses = Platinum.

this only make sense ma.

@Dyong,
I'll like to have one by meself too

@siutimtim,
Can!! Get ur dad or bf to give u a supplementary *grins*

Seriously, I don't see what's the point of having too many cards; at the end of the day U won't use them all.

yes. at the end, you just put into the album for display.

@siutimtim ,i think low income is impossible to get a platinum card. Platinum card need at least RM60k -RM100k in annual income. Do you really need a platinum card?

Previously it was valid for only a year for Classic and Gold cards but it has been extended to 3 years since earlier this year. Same apply to CIMB Bank free for life Mastercard/Petronas Mastercard.


A fat bank account will only entitle you to a free for life Platinum credit card. Some new graduates might not earn a lot in the first few years, yet they still manage to be a principal Platinum credit card holder. Thanks a lot to mom and dad

This post has been edited by MilesAndMore: May 8 2008, 06:46 PM

@siutimtim: my suggestion: change to sales related job and work VERY HARD to boost your income.

I have a younger friend who works as credit card agent and he earns 10k every month, and hold a plat card from another bank.

There's no Classic for Direct Access. Are you referring to Gold and Platinum?

vin_ann: since you mentioned in 1st post can discuss about Amex charge card - do mentioned in 1st post that AMEX charged card gives rewards point (presently 2X if got Turbo 3X) for pumping petrol at ALL petrol stations.

Another benefit AMEX have over others is that they presently have 6 months 0% installment for any transaction. AMEX is truly 0% as they is no handling or surchage fees as compared to DA and UOB.

Probably yes ... as you said yourself, DA only has Gold & Platinum.

2x points FOREVER is not just for Amex Charge Card, but also applies to Amex Credit Card, which is monopolised by MBB at the moment.

Both Amex Charge Card and Credit Card gives 2x points at ALL petrol stations.

can use mine....

my clear card oready beat some gold card credit limit, it all depends on ur usage.

noted and updated.

oh yeah, tht day in PC fair, the amex promoter got mention this to me. 0% installment for 6 months. but it's need to be RM1,000 minimum.

the RM1,000 can be anything. be it cash advance, retail transactions.

you know what he give the example, he mentioned that, you can treat your friends meal using the Amex and hit the RM1,000 and ask for the 0% installment...

@yewkhuay,
Use urs means U pay.. oKie then

Am surprised but I haven't had a credit boost on my clear card for some time now.

Agreed. Use too many cards also means hassle of making several different payments every month. And you spread your points out too.

I have 3 diff cards but use 1 for 99% of payment (accumulates points faster). The rest is for backup (in case 1 card cannot read or in case really have big ticket item have to spread to 2 cards, etc).

Also unless the cards are free for life, have to think about multiple annual fees (of course can apply for waiver, but another hassle).

So, yes should have a few cards but not too many.

This post has been edited by jchong: May 8 2008, 11:46 PM

Starting this year all DA points is valid for 3 years...yippee

Would the issuer auto boost your credit limit? They wouldn't be updated about your current financial status right? Unless you maintain your a/c there. I've had Maybank increase my credit limit without asking (I guess because I have an account there). Quite surprised.

None of my other cards has done that (and I also dun have account at those banks).

As principal card holder, I think impossible. If low income people can get then plat card wouldn't be exclusive anymore right? Then have to intro 'diamond' card

Monthly 10k income is good but later you will be kena income tax >20%+..then you will see you $$ are fyling to our beloved government.

@jchong,
I did get an auto increase on my Citibank Clear Card from RM5k to RM6k. I wasn't officially informed and got that information from my monthly statements

It's been awhile since I got an increase though.

@raymond5105,
Isn't it good to earn more, even though u'll be taxed more?

Citibank recently increased my credit limit as well but it was a good 2 year lapse since the last upgrade. I knew about it when I logged into my Citibank Online system and a few days later the official letter came.

Paying more taxes is one of the drawbacks of earning more. And if you noticed, your maximum deduction (Tax calculation purposes) for EPF is only RM6K and then any extras is not counted - I think this is not fair as you are already paying a lot of taxes already at the end of the day.

10K income is paying average 13% of total income as tax.

Correct.Where got more than 20%.

@hye,
I haf to agree RM6k is ridiculous. I don't even need to bother with the rest of the receipts as my annual contribution to EPF oredi exceeds the RM6k figure! Find other ways to reduce taxes but hey, when we don't earn enough we complain we don't have enough. When we earn enough we complain about taxes !

U people are sure hard to please!

any 1 using pb master?how can i access to my online credit card statement,thanks

so tht's time when people will find ways to reduces taxes by buy PC, books, and etc etc

@vin_ann,
The same rule when women goes shopping during sales? Save more by buying more?! *grins*

On a separate note, I checked my DA statement and the points indeed are valid till 2010

Oh sorry for being a wrong info.Just check back on the guide,it's 13%.

You can call to customer service to request for the online credit checking.

Just received my credit card from Public Bank & got offer mail for free ACE Insurance coverage for 12 months.
The catch is, they can use the details inside the acceptance form for advertising or publicity as i read in their terms & conditions...
Should i accept the offer or decline it?

What's the sum insured?

100k...................

Which card has the best offer right now ?

Im gonna apply in August when im 21 ...

How much limit and offer do i get ? Workin for 3 years, got car loan, basic 2.2k and etc

Heard after get 1st card, its very easy to get 2nd and 3rd card onwards...

I assume you are not a university graduate ? So Direct Access credit card is not for you. Try CIMB Bank Mastercard. It is FREE FOR LIFE with NO CONDITION. A very good card and they regularly have promotion. You should have no problem getting the CIMB Bank Classic Mastercard.

Depends on your payment history, other banks might reject your application if you have very bad payment history with your first credit card. But usually people will apply several credit cards from different banks at once.

Hmm what is Direct Access credit card ?

What about the credit limit ? And how long term should i hold the card before they increase or upgrade to next level

i guess it's better to buy insurance from the agent, as there is some1 to serve you. while buying from bank, when the time u face problems, you need to call bank and you dun know how to claims the insurance. and worse, you need to do it during office hours.

you not yet get ur credit card already asked so many questions. shdnt you learnt to walk before you can run?

having a credit card is sound cool, but actually when u really own 1, its different story, u will enjoy using CC and keep spending.

I believe Direct Access credit card was a product of Southern Bank and it is reserved only for those with a degree or higher. Now that Bumiputra Commerce Bank and Southern Bank have merged, CIMB Bank is the bank that issuing Direct Access credit card.


Credit limit vary from cards to cards. It really depends on the bank too. Usually i hear the classic credit card holder credit limit is something like RM4k only.

---

Added on May 10, 2008, 11:50 pm
May be he just wants to know what his options are and want to know more about credit card before he actually apply for one. In case you didn't notice, many other people who do not have any credit card came to this board and asked lots of question about it.


It's up to the individual. It the best if everyone treats their credit cards as charge cards.

This post has been edited by MilesAndMore: May 10 2008, 11:50 PM

Correct me if I'm wrong but Direct Access eligibility starts from income of RM36K per annum (They have no classic cards). His best bet would be CIMB Petronas cards I think.

The first page is a good starting point if one were to learn about credit card and wanting to get one for the very first time. But one need to put in effort as well to read the threads, if everyone comes in and take the easy way and just ask "What's the best credit card? Best in credit limit, rewards, etc ..." - then it defeats the purpose why this forum exists. I'm just being honest about this point, no offense to anyone.

The credit limit can go to as low as RM3K from what I heard. Seriously, any seasoned credit card user would say that using a credit card is all about the ability to control your own spending and avoid compulsion. If getting a very high credit limit is all one's target, I fear disaster could happen if one does not understand the responsibilities of owning a credit card.

This post has been edited by hye: May 10 2008, 11:56 PM

ya. 4k limits is common for fresh grad.
anyways, citibank is just gives 3k for fresh grad.

anyways, not many people treat their credit card as charge cards.

I'm still waiting for my Visa Petronas Card...really angry since i've already have a classic card...i just need it to be upgraded...i sent my application 2/04/08..more than a month already..last 2 week i called and they asked me to call back last friday..the guy said that he will make a report and escalate this matter..but last friday i called same thing happens...they asked me to call back another 2 week and they will escalate this matter..

Question on credit cards. Why are some purchases to be paid with installments for buying stuff sound so unchained? like 0% interest for buying a laptop/mobile phone. What's the catch and the maths involved? I need someone to fill me in before i make a first swipe of death.

MBB Petronas card is one of the hottest credit card in town and this led to long queues. Actually there's no such thing as card upgrading - it's as good as you applying for an additional card and then you still need to cancel off the old card.

BTW ... you didn't say where and how did you apply for the card. I sent my application to the bank directly (I went to the bank) and it still took me a good 1 month plus (about so) before my card arrives.

---

Added on May 11, 2008, 12:05 amMy friend ... I think you need to add in clarity to your questions further. I read your question a few times and although I think I know what you mean ... I'm worried I may get the translation wrong.

This post has been edited by hye: May 11 2008, 12:05 AM

I applied for Citibank directly for a CC and it still got canceled D:. Cursed buggers. Waiting for the Hong Leong card to be approved now >.>

DA 2k/month can get already.Last time is 3k/month but need degree.

yup...i also send directly to the bank..they took about 1 week to arrive at CC centre...just have to wait then..

I already have prudential takaful insurance.....
Just this ACE insurance is free for 12 months (100K coverage). So i still consider to accept or not.....

Edit : Looks like i off topic a bit.... Sori

This post has been edited by shift: May 11 2008, 12:27 AM

no catch just that if you keep paying installment for stuff do remember that you are basically using leveraging on ur future for now. if some unforseen circumstances comes out of the sudden then you might be in big trouble

Whew, that's a load off. Thanks for the advice : D.
At least now i know what goes on : x. I think im gonna get all my card applications rejected. I just need to make a phone call to see if my hunches are true.

lol

i just got 1.5k on my citibank card

I thought Citibank gives out 2.5x ur basic salary?

i dont know, maybe i will call them to increase it to 2.5x my basic salary

thanks for the tips, bel

I suggest you ignore it. It's just a method for them to gain your personal information.