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Credit Card Thread V4, Plastic Money @ World Access
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genkis3
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 Jul 28 2008, 07:49 PM
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hi guys,
need help hre, wanna ask regarding newest interest calculating of credit card.
i've swipe my citibank card quite alot in europe recently, around rm25k. i'd paid within the given 20days duedate, but end up they still charged me rm1XX interest. how come???
i know the new interest rules is changed. i always thought make full payment everymonth will stay problem free. so i didn't figure properly how it charge.
now i dont dare to use credit card b4 make it clear...
This post has been edited by genkis3: Jul 28 2008, 07:55 PM
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genkis3
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Jul 28 2008, 11:13 PM
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QUOTE(babylabbit @ Jul 28 2008, 08:17 PM) did u have any balance left for last month if you do..u dont entitle for 20 days interest fee anymore sometimes i'll late coz forgot to transfer. is that mean from now on, i need to pay immediately after i receive the statement? how abt the post delay or im out station and not receive the statement? like that i think better cancel it lo.... sure kena charge interest everymonth. QUOTE(tinkerbel @ Jul 28 2008, 09:41 PM) @genkis3, Yeah best to call the bank to check what the RM100++ charges were for; what was written under the description? Finance Charges?! If so, that's probably the interest charges for outstanding payment not made; u might have calculated wrongly *shrugs* Or, could it be the 1% 'Admin' charge on overseas transactions? yes, it stated "finance charges". dont think have any admin charges. |
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genkis3
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Jul 30 2008, 12:45 AM
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that means in my case which have late payment within last 12months, no more free 20days interest. then the finance charges rm1XX is probably exist since i didn't clear it immediately when statement come out. will find the officer to try apply for interest waive and see.. so if i prompt payment for last 12months, still can enjoy 20days interest free? my mbb card still have good record. thanks u guys for help to explain  regarding anual fee, standard chartered platinum never charge me wor... dono y. citibank & mbb need call them to waive. |
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genkis3
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Jul 30 2008, 02:33 PM
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QUOTE(tishaban @ Jul 30 2008, 10:39 AM) Stanchart charges me regularly for their credit cards, I usually call them to waive. They were reluctant to waive it last year even after spending well into the 6 digits with their card so I said I'll cancel. Then they waived it. I stopped using Stanchart after that... About the credit card new charges, it's simple. There are two "privileges" now, lower interest rate and the 20-day interest free period. Lower interest rate (15-17%): only applies if you haven't been late in the past 12 months 20-day interest free: only applies if you paid your previous statement balance fully You can get either one or both depending on your payment record. last time when i active in standard chartered with 6digits spend per annual, they charge me as well, now i move to citibank and rarely use standard chartered for many years and they didnt charge me at all. weird strategy. from ur info,means if i fully clear my previous month statement, this month will get 20days interest free no matter u have late payment in last 12months rite... |
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