Guys, pardon me for asking this...

I saw this statement on the first page of this thread:
"*warning
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."

May I know that this is confirmed?

Because I went to BNM's website and there was no mention of this....

Thank you very much.I have actually read them...

But what puzzles me is that this rule is:

a) You must be at least a prompt minimum repayment pay master to avoid this situation

or

b) You must be a prompt paymaster who settles in full to avoid this situation.


I am questioning this(even though in the statement from the first post is refering that the answer should be "b") because I have received letters from both HSBC and OCBC stating that the answer seems to be pointing to "a".
++++++++++++++++++++++++++++++++++++++++++++++++++++++

Edit: I know what is going on already. Thanks

This post has been edited by young_mane: May 28 2008, 09:49 PM

Guys, just would like to ask that for Eon Bank Credit Cards:

1) I do understand the annual fee will be waived if there is 12 traxn in a year, in regardless each traxn is how much right?

2) Cust. can actually opt to call the CS to request to change their retail purchases into installment plans even though they shop at non-penal merchants (meaning those merchants who are not in Eon's installment plan merchant) right?

Thanks for assisting me in clearifying these issues....I have been looking all over the T&C, just would like to re-instate my understandings....