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

@dr2k3,
I'm quite sure that's not BNM's intentions.

i'm curious to know if anyone accumulates purposely some debts on their credit cards? Lest says someone with a credit limit of RM10k and they useses it until the max as they can afford to to pay it off in one go but chooses not to settle it but instead paid just a part of it so that they can use their money on other purposes? It is advisable to do so? The interest should be a killer not?

Some rich folks may just use cash advance to make more money than the interest charged

@beebee,
Yes the interest would be a killer; U shouldn't think of ur CC as an alternative means to give U better cash flow

@beebee

its not wise to do so..........the interest will make u pay more on that particular item..............if have money just paid it in full....unless its 0% thing

@ronnie,
I doubt real biz people do that; for just how much $ can U get from the CCs? Also, it makes no financial sense in the LT.

I guess when those internet scam like 12DailyPro was quite hot
12% per day return definitely beats 18% per annum charged by CC

yes i was wondering why would anyone do that as the logical thing should be settling the outstanding of the statements promtly to avoid any finance charges.

and no, i am not stupid enough to use that method but i have seen some people do that but they can settle the amount anytime they wish but they just dont want to do that O.o

@beebee,
Yeah some times these people just outsmart themselves. If U ask me for my opinion, it is to settle bill in full at the end of each month. Y let the banks make any more $ then they oredi do

@ronnie,
The underlying word is "scam"

@tinkerbell
yeah i thougt so too


ok another note, after using credit cards do you all find yourself spend more?

from the 5-6 years of my holding a credit card, i've noticed i actually spend more now than before i had a card, now when i spend for food/shop i can just simply use the card without much thought. As i dont like to carry much cash around, i normally would be using the credit card all the time, the plus side is i've got loads of points but i makes me kinda spendrift but it is manageble for me as i would settle it when i got my pay check so i dont accumulate much debt. I'm also thinking of stopping using the credit cards but it would be a great inconviniece i think.

@beebee,
I spend more as compared to last time but that's because I've higher purchasing power today than I had 10 years ago. Also, 10 years ago I used the CC only for emergency purposes; today I use my CC as a cash card *grins*

Generally, U shouldn't be spending more $ if Ur just using ur CC instead of cash. Just make sure U haf the $ before U swipe something CCs in my opinion should be utilised as a tool to make life more convenient for us all; not get us into financial debt and trouble *gulp*

If U think ur spending and swiping unnecessary, then stop carrying the CCs with U

anyone face this situation before where hyperstore doesn't allow you to use credit card if the total bill not exceed certain amount?
ASAIK, you can charge any amount to your credit card
any channel we can complaint about this?

@labtec,
Yes sometimes merchants onli allow U to use CC if U spend above RMX. I don't see how U can complain; just accept it lah

I faced that before.

I experienced below RM 10 and below RM 30.

@David83,
Er.. takkan go into 7-11 buy a can of coke also want to use CC meh?! *troublesome*

as long as they allow me to use CC, I will pay...even for RM1...

@TeraPox,
Isn't that a little 'inconvenient'? I mean, the wait time and all?!

no lar, 1 transaction will only cost you 1-2 minit only ma

7-11 accepts credit card?

My experience was at Sunshine Supermarket.

yeah... my friend living in the us said, there most of retail purchase even small amount are preferred using card than cash....

i wonder why RM5 premium toilets Robinson @ the gardens midvalley do not provide card payment facility...hehe

It's true. My friend who went there shared their stories about this too. They said that it's very convenient to pay using credit card even for paying a small amount; i.e. for food or beverages.

That's we call electronic or cashless payment system. Malaysia has years to achieve that. Merchants in Malaysia shared to pay for bank charges and etc.

Banks on the hand hand charge relatively high to merchants.

7-11 accept cc

---

Added on July 14, 2008, 7:32 pmrobbery, less money needed to count

This post has been edited by dr2k3: Jul 14 2008, 07:32 PM

RM5 premium Toilet is ISETAN lar..not robinson..

Thanks for confirming. I seldom buy stuffs from 7-11.


RM 5 for toilet access or what?

usually big or medium overseas franchise accept CC

Act, CC is quite widely accepted today as compared to the yesteryears. It's not really a good thing when we start substituting card for cash; look at the amount of $ the Americans owe the bank

I don't know about U but if I had other options, I would rather not want to fork out RM5 for toilet facility *gulp*

I don't buy into that. It's more likely poor finanical management skill.

@David83,
You're absolutely right but the fact of the matter is that most people do NOT use their Credit Cards wisely

Take a vote here and that would give U an indication. Also, our latest report states only 30% pays off their CC bills in full each month.

How to apply for a Direct Access Credit Card? What are the documents needed and what is the maximum credit can be used? After applying how long does it take to approve?
I need to apply 1 a.s.a.p...is there anyone here who is dealing with it?

1 quick question. Rgd CIMB DA card, do I have an option to choose which platform to get? [Master or Visa] If I didn't inform them during application can I still cancel out one of the card after I receive it?

If you don't mention (strikethrough) in the application card, they'll send you both.

I believe vin_ann has answer to this.

kindly refer to direct access wbpage about documents needed

hmm.. for DA, the cards will be send to either home or office right? Meaning, I can "manually" terminate one of the cards by not activating it? Or both cards are activated the moment I receive it? Anybody can confirm? thks

Hypermart or Supermart like Jusco, Tesco, Giant, Carrefour... I have swipe CC between RM5-10. My friend in SG swipe SGD7 for a single t-shirt in shops like Giordano, Baleno type. But I doubt can do it here, they will limit minimum RM30 or RM50.

Once you activate DA, it will activate both of ur cards...cheers...

Hi guyz...how u all comment for the mbf cards and eon bank cc?

no idea but i have both eon and mbf. never activate the card oso , seems like around 1 year ady and i wonder is the card still usable ? but one thing is paying mbf bill will have to go over counter rather than paying at cash deposit terminal.. very troublesome..

You have to call the CS to activate your DA cards.

As arsenal said, if you activate one card, the other card will be activated too.

it's depend.
Jasco and Carrefour have no minimum amount. this is proven and tested. Other than this two, i got no idea.

while for MPH their requirement is RM30.
n some restaurant is RM50.

yesterday citibank offfered me the Gold card....wat i suppose 2 do wit my current clearc card?

I allways ask the establishment what is the minimum amount for CC payment to avoid embrassment...

if u wan real fast, then u can go to DA HQ at Bukit Damansara.

else submit ur 3 month pay slips, 1 degree cert, 1 photostated IC (make sure u see them cross / cop "for credit card application only") to any CIMB branch. usually will be around 2 weeks plus.

if u agreed to upgrade, ur clear card will be useless, can put in ur collections book. they will disable ur clear card.
and u have to register again for ur gold card.

@vin_ann,
Y need to re-register the Gold card?

@realman,
If the Gold card came as an upgrade from the existing Clear Card, just follow the instructions on the letter that came with it to activate the card; I believe U will need to call them to get them to activate the Gold card.

After that, ur Clear Card will be disabled. It's safer to cut and destroy the Clear card than to keep it

@ Tinkerbel

i meaning for the online e-banking. the upgraded gold card is consider as another new card. the old 1 is disable so have to re-register for ur new gold card for online e-banking lol.

anyways, once u confirmed to activate ur new gold card, the existing clear card can not be use anymore. i thinks only few days later u can register ur new gold card, where u can see the existing old clear card balance is being transfer to new gold card.

I called up the branch from where I applied the card and said I want the Master card only. Btw, only the master card are entitled for the 2% rebate right? I mean for petrol purchases

This post has been edited by mustang: Jul 15 2008, 10:05 AM

How about my current outstanding balance in tat card?

@vin_ann,
Yes that is right - there is a need to re-register for a new Online Banking Account as it's not linked - that happened when Citibank accidentally cancelled my Clear Card *grins* What's worst is that U can't use back the existing user name *sigh*

@mustang,
Yes the 2% rebate on petrol purchases is applicable only to the DA MasterCard.

@realman,
Your current outstanding balance in the Clear Card will be reflected in ur month end statement. Don't worry, the bank will make sure they bill U for what U've spent before U upgraded to this Gold card

Btw, did U get an increase in CL with this Gold Card? Was it at least 50% more than what U got on ur Clear Card? Also, did Citibank send this upgrade card to U through courier/pos laju or normal mail?

tinkerbell..thanks for the info..they send tat in normal post laa....the y upgraded extra 50% frm previous....

btw, i received my Robinson card and it's in my collection book. haha. anyways, now i have 3 CC from OCBC which sharing the same CL. it's shown in my online banking.

1 things i wanted to share here is, my information is updated. my working office phone is updated with my new company phone. this is good.

btw, last week im also received a RM2,000 cheque and another blank cheque from Citibank. i thought i have win whatever contest and got prize of RM2k. so happy. as im read on, the cheque is consider as CASH ADVANCED. advanced fee is being charged, and only can be banked into your own account n need about 5-6 working days to the cash.

any1 have received this kind of cheque?

Question, i got my cimbbank master card and ptronas master card .... but it doesnt show up on my cimbclicks. how do i make it show up ? I want to see what i spend on like maybank2u.

you may call cimb credit card center 603 - 6204 7788 (Gold & Classic) 9.00am - 5.00pm (Mon - Fri), to request them adding ur credit card transaction activities (account

summary) into CIMBCLICKS.




@vin_ann


As posted earlier, citibank did having such "offer" very offen. I did received cheque like yours last month also, i throw in rubbish bin already

This post has been edited by yks8845: Jul 15 2008, 12:36 PM

vin_ann,

I've also received it from Citibank and MBB with amount 3k, 4k, 5k, 8k offer average once every quarter or half-yearly. But I didn't throw it away. Keep it safely locked up and most of it are past the 3 months cheque validity date. Maybe I can frame it up or something.

The banks are trying to "cheat" you into using cash advances by giving you the cheques.

@cute_boboi
yeah. i shd documentation it up nicely. haha.

@ronnie
yaya. if i din spend some time to read up the Term n Condition, i wont have banked the cheque.

Did you apply to attach your CIMB cards details to your CIMB account?

If not, then please do the application first by requesting an ATM PIN for your cards.

@vin_ann,
Yeah don't worry about those cash advanced cheque the banks sent to U. I get those all the time and each time I receive them, I just trash it

@David83
You mean if I apply for a pin for the CC cards for CIMB DA, the cards account will be linked to CIMBClicks account automatically and will show up in CIMBClicks every time I login to the online account?

This post has been edited by mustang: Jul 15 2008, 05:53 PM

Yes. That's what I did for my CIMB DA.

my citibank unbilled transactions got show this kind of information.

New Rules Start Rolling...

This post has been edited by vin_ann: Jul 15 2008, 09:39 PM

CIMB already modified its online statement format.

MBB online statement is still the same.

David83,
Photobucket deleted the picture

It's not my fault. The original photo is not posted by me.

it's was my pictures. after i post i realised there is CC number on it. sorry guys / gals, i will upload it once i edited.

it's uploaded.



This post has been edited by vin_ann: Jul 15 2008, 09:40 PM

Someone wanted more info abt the AAM Diner's Club Card

http://www.aam.org.my/news/2008/July/news_diners.asp
and
http://www.dinersclub.com.my/en/applynow/dinersaam.asp

@vin_ann,
Don't worry about those stuff reflected on ur Citibank Online Account - as long as it's RM0.00 it shouldn't make a difference to U

@zenquix,
Thanks - I'll check it out tomorrow.

This post has been edited by tinkerbel: Jul 15 2008, 11:28 PM

Actually the usage of this pin is to have somesort like an overdraft facility because it acts as "ATM" card? What is the interest rate of the withdrawal?

overdraft on credit card? it's called cash advance

@zenquix,
It sure seems as if Diner's have lots of co-brand cards. Anyhow, since ur a Diner's member, just want to know if it's widely accepted here in MY.

@mustang,
Interest rate should be the same as your CC interest rates so it's really not a good deal taking these cash advances

@tinkerbel
What I ean is, the moment I withdraw the money using the CC in the ATM. Will I be charged for handling fees? Let's say I withdraw RM1000, is it RM1000 that I will be receiving? And when the statement is due, I just need to credit back the RM1000 right? So no interest occured?

@mustang,
I'm not too sure about that - U could check it out with the Call Centre and get back to us I'm quite sure there will be some sort of handling fees charged depending on which ATM network U use.

PLUS recently revised their Service Charge Fees to RM12 - it used to be RM10

@Tinkerbel

im just want to let all know the changes on it. hehe.

@ Mustang
u still can get RM1,000 the handing charges / advance fee will be shown in the statement and on that day u withdraw, the interest is start to charging.

@vin_ann,
I had those 'gibberish' on my Citibank Online Account too last month, haven't logged back in to check so not too sure *grins* Am waiting for my bill cycle date to end so ain't gonna pay bills till after that *grins*

Also, would U know what the handling charges are for ATM withdrawal on CC?

Make sure you shred/defaced it also. someone may play prank on you and banked into your account.
that's why your banking account number must be kept private.

d) 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]