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% -->verified by Hye

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%

AMEX card: 1.5% charge + 0.5% (provided by Hye)
: an additional 2.5% (provided by tinkerbel)

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]


Cash Advance fees
5% of cash amount (min RM20), and
18% p.a. daily interest
(N/A for Ready Cash)
[from Citibank]

Cash Advance Fee :
The cash advance fee is charged
to any withdrawal of cash made.
This is imposed for each cash
advance transaction.
5% or RM20, whichever is higher.
[From UOB bank]

Cash Advance Commission/Fee*
VISA/Mastercard (Both Classic and Gold)

Flat rate of 5.00% of the total amount of cash advance
Min: RM10
[From Maybank]

Cash Advance Fee
5% of the amount drawn, subject to a minimum of RM15, whichever is higher.
[ From Direct Access]

Cash Advance Fee
5% of the amount drawn, subject to a minimum of RM15, whichever is higher.
[From CIMB]

d) Cash Advance fees } The cash advance fee is 5% of the amount advanced or a minimum of RM15. Whichever is higher. This is imposed for each cash advance transaction

} For HSBC Amanah Charge Card, cash advance is capped at RM1,000 per transaction and a fee of RM60 per transaction will be levied

} For cash advances made over the HSBC banking counter, there will be an additional charge of the following:-
- RM50 on credit cards issued by local banks other than HSBC - RM20 on credit cards issued by non-Malaysian card issuers (including JCB)
- Cards issued by HSBC Bank Malaysia and the HSBC Groupare exempted from this charge
[HSBC]

Cash Advance Fees/Casino Chip Fees
The cash advance fee is 5% of the amount advanced or a minimum of RM15, whichever is higher. This is imposed for each cash advance/casino chips transaction.
[From OCBC]

Credit Card V2 Thread
Credit Card V3 Thread

This post has been edited by vin_ann: Aug 11 2008, 10:16 PM

V3 is quite fast... now V4

GrrRrrr.. I lost everything I typed just cause the thread was closed *eGad*

Anyhow, back to what I was saying (from previous thread), Credit cards should be accepted for all/any purchases made cause the basic theory is that the credit card is a form of payment hence should be seen as cash. The ideal situation is that all merchants allow payments to be made through CC - in any case, I believe banks prefer to make their transactions with cold hard cash hence credit card is probably not accepted

Credit Card also doesn't guarantee U actually have the $ in ur account to pay for purchases plus there'll probably be a lot of fraud cases. Hence to avoid all these problems; credit cards are probably NOT seen as a payment method for bank drafts

BTW, someone was recommending Diner's Charge Card earlier - am just wondering how recognise Diners is in MY? My Amex oredi been rejected at Crystal Jade Restaurant *sigh*

This post has been edited by tinkerbel: Jul 14 2008, 11:58 AM

Just to share my experience on the bank draft.

I made a bank draft at UOB a fortnight ago as I need to pay the downpayment for my new car.
I have an i-Account at UOB so I suka-suka asked the teller whether the bank can accept CC or not to pay for the bank draft.
If they accept, can collect thousands of points mah!

Sad to say that they don't accept credit card payment.... heheh!
Maybe you guys can get better luck at any other banks.

As we all know, there are commissions/fees between merchant and bank, hence not all merchant want to accept CC, especially those smaller ones and revenue not large enough. Also in M'sia environment, merchants prefer to deal with cash for rolling, and also most of them do double-accounting to evade tax, which is illegal.

I think Diners acceptance is worse than Amex, generally in M'sia. Except those higher class (read: expensive) restaurant, golf courses, etc. My Amex at Tai Thong & sister companies, no problem I think Crystal Jade is Visa/Master only.

CC cannot be used for Bank Draft in M'sia.

@widget,
Yeah.. I wanted to pay my house downpayment through CC but the developer wouldn't accept it *siGh*

@cute_boboi,
Yes Diners is probably less accepted in MY than Amex. Anyhow, I was pretty surprised Crystal Jade doesn't accept Amex. I would have expected a place like that to accept Amex too

vin_ann is the TS again.

Does anyone agree with the 20-day interest free period for those who pay in full only ?

I, for one, TOTALLY AGREE with this move.
Credit Card is for convenience of not carrying cash... not to put you in debt.

This post has been edited by ronnie: Jul 14 2008, 02:45 PM

@Tinkerbel

so ngam im just closed the thread ma. haha

@David83
since it's reached 2500 posts, so open a new 1. haha.

hi, i am newbies here , and just start to using cc ,
i am facing problem at petronas station, cause yesterday trying to pay by cc at pum terminal but why ""HOst offline "such msg show at screen, and re directly me to paid at counter.

just check why got such problem or just the line problem only?
i am using Citibank cc

tq

@ronnie,
I've no problems with BNM new rulings but taking away the 20 interest-free days will definitely cost the end user much more $ *grins*

@vin_ann,
Yeah I know - I wasn't blaming; I was merely ventilating

@David83,
He's doing a pretty good job monitoring us

---

Added on July 14, 2008, 3:25 pm@teyking2003,
No worries - it's probably some terminal issues at the merchant hence U were asked to pay at the counter

This post has been edited by tinkerbel: Jul 14 2008, 03:25 PM

maybe they concern about CC fraud + reverse charge or whatever...especially with big amount

---

Added on July 14, 2008, 3:35 pmby doing so they r increasing the debt even more

This post has been edited by dr2k3: Jul 14 2008, 03:35 PM

@dr2k3,
I think developers are just kedekut; they don't want to pay merchant fees hence don't allow payment through CC.

If we all started learning to use our CC facilities wisely, we wouldn't need to be running into debt

This post has been edited by tinkerbel: Jul 14 2008, 03:36 PM

actually i wanna officially start one.....but i afraid someone might get angry

---

Added on July 14, 2008, 3:39 pmtrue also......merchant fee....high amount = high fee

omg....the connection so SLOW!!!

my reply suppose to be in 1 post ~_~...let tinkerbel cut ~

This post has been edited by dr2k3: Jul 14 2008, 03:39 PM

@dr2k3,
You can start the next thread when this gets full `k? *smiles* Act, some developers do allow CC payment; I received something from Citibank & SP Setia on some developments @ Setia Alam. Also, depending on how much the downpayment is, perhaps some people just don't have that kind of CL *shrugs*

as for cancel the card thing.....do i must send them a letter or i can cancel the card on the spot (branch)/phone

@dr2k3,
You probably can call up but most of the CS would ask U to send / fax in a letter of cancellation

That shows people are spending beyond their means....

@ronnie,
You're definitely right - MOST people do spend beyond their means *sigh*

@ronnie

because most of them always overswipe, thats why BNM doing this just make sure they go bankrupt more faster

This post has been edited by dr2k3: Jul 14 2008, 04:04 PM