Hello,
I'm new here in Lowyat forums. I submitted my application to Public Bank last month and the credit card should be ready this week. They require (actually most banks) RM5K only as minimum (or shall I say, initial) amount for FD (rate is 3.70% - 12 months)... as your pledge for a credit card. I gave them RM10K for an FD and then PB staff said I'm eligible for Gold credit card. I have read the agreement that they asked me sign.. I can renew the FD for 7 years.

I phoned CIMB and Citibank the other day... to ask if they also offer credit card for any FD. They said "yes". The requirement is the same as Public Bank -- minimum RM5K and copy of IC.

I'll see if PB's credit card is OK... if not, I might FD also at Citibank.

Update: Just collected today (1st Dec) the PB visa gold credit and debit cards. No PIN yet for the credit card but I think I can start using the credit card to get a new desktop
BTW, I'm surprised that the credit card is valid for 2 years. I was expecting 1 year only since it's my first credit card

This post has been edited by awaynoway: Dec 1 2008, 08:21 PM

That's not good experience and thanks for sharing this experience of yours. I only have 1 credit card and 1 debit card (both issued by Public Bank). I want to use the debit card... only if the credit card fail for some reason and if the merchant's machine is acting up. I realized now (after reading your post), that it's better to have a backup credit card. I think I'll drop by to CIMB or Citibank today to FD for another credit card.

I did not know also that this is possible until a friend of a family member mentioned it. I requested to the CS of PBB to deposit the FD interest to my existing PBB savings acct. Next is I asked their CS to add my FD, CC and DB accounts to my online account so the 4 products (including SA) I have with them are accessible online.

BTW, a correction on my post re: validity of the PBB credit card. It's 3 years (not 2 years) valid -- 2008 to 2011.

Hi,

No, I personally go to my preferred branch then the CS in her desk attended on the request. I only gave her all the account #s, I signed and go. When I log-on to PBB online the next day... 4 accts are ready to manage/access

Yes. That is also known as "Interest Free Period" on retail purchase for PBB card members (excluding Cash Advance, Balance Transfer and other credit plans).

Correct me if I'm wrong but I think the 0% installment means no interest or finance charge on the converted purchase (converted to flexipay, flexipayment et al). The non-flexi purchase got finance and other interest (e.g. 15, 17, or 18%) while Flexipayment stuff is only charge with one time 3, 5 or 6% (upfront fee). The flexipayment is fixed montly installment, there's no interest will occur unless the cardmember failed to pay the flexi monthly installment. Fee for it depends on the bank.

So the advantages of Flexipayment thingy are:
1. One time interest (the upfront fee 3, 5, 6%) as long as the card holder don't fail to pay the Monthly Flexipayment due. This is good because the non-flexi got more interest rate and it keep coming.
2. Choice how many months to pay an item or items
3. Credit limit is not affected. This is true only if the bank will restore the amount converted to Flexipay. I like this advantage a lot because I can get stuff that I want without reducing much my credit limit. I prefer to have my credit limit always ready for not-so-high-purchases e.g. less than RM2K.

This post has been edited by awaynoway: Dec 9 2008, 11:55 AM

This means Public Bank credit card and Flexipay is better than CIMB?
With PB... just buy using the credit card (any merchant/shop) then request it converted to Flexipayment after 3 days of purchase.

Yes, they will charge 6% if you will choose 24-months (minimum 4K)
http://www.pbebank.com/en/en_content/perso...s/flexipay.html

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Added on December 9, 2008, 12:34 pmOK but what I mean is the RM4K (less your upfront fee which is 5%) should be restored after few days or the next statement (when the Flexipay Monthly Installment appears in the statement).
At least that is what I know with Public Bank.

This post has been edited by awaynoway: Dec 9 2008, 12:34 PM

I personally find it useful because it's 0%interest during installment. Just a one time fee (3, 4 or 5, or 6%). Usual credit card purchases incur interest (if paid slowly e.g. minimum or more than minumum) and some finance charges.

PBB, CIMB, HSBC, Citibank.

0% interest because it's fixed monthly installment for 6/12/24/36 months
Pay only upfront fee (3%, 4% or 5% or 6%)
Pay 1.5% if failed to pay the monthly flexipayment

That's how I see it work but not sure if all banks do that.

No, not all bank requires 12 months old/existing card. Example:
Citibank - at least 6 months cc holder of another bank
UOB - they did not mention how many months is required t/b eligible to apply.

You can call to check their requirement but Citibank mention in their website -- 6 months.

Or if you want fast.. just fixed deposit RM5K to any bank to get a credit card

If you like CL increament with Citibank, try to apply for Gold credit card because their Gold credit card as per their site, auto-increase the CL every 6 months. I don't have Citibank gold card. Hopefully anyone who has one can double-check this.

It's at https://www.citibank.com.my/global_docs/for...p/choice-vs.htm

It says:


I have Citibank account (savings) and I asked them few weeks ago if existing non-Citibank credit card holder less than 12 months is eligible to apply. The Citibank support respond that 'yes, at least 6 months credit card holder"

Maybe I receive that response because I'm a Citibank customer (but not cc acct).

I have not done balance transfer but I think that is a wise move, if you found a good deal (the percentage of interest is lower or 0% interest). Forumers who have done balance transfer should help us understand what's the advantage and disadvantage (if any).

BTW, I found this great article (short only) but the comments of the readers are worth to read:
http://www.wisegeek.com/what-is-a-credit-c...ce-transfer.htm

I think you are correct because you are going to pay it with fixed interest rate and the date you owe a bank is a new start date.
And you can keep the old credit card.

I'm PBB cc holder also and so far have not meet merchant or shop that do not accept it. Not sure if this will be case if I go to another country.

I forgot to comment on your message regarding Flexipayment.
PBB has Flexipay. Just buy then fax to them the form to convert your purchase to Flexipay.
You need to request the Flexipay... 3 days after you purchase or if you see the purchase is posted in your CC account (you can check at their website>your account). More info:
http://www.pbebank.com/en/en_content/perso...s/flexipay.html

This post has been edited by awaynoway: Dec 13 2008, 06:13 PM

Thanks for this info. I am considering to FD in Citibank to get gold card. May I ask if your card is gold or classic card?
Their website says Gold card in Citibank is entitled/eligible for increase after 6 months but if you got gold card and they did not give you increament on CL then I will just FD to another bank (CIMB or UOB or HSBC).

hhmm I thought UOB is offering separate credit limit for the dual & multiple cards?
--> http://www1.uob.com.my/webpages/card_promo...mbinelimits.htm

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Added on December 24, 2008, 5:00 amThat's slow service by them. If I'm on your shoes, I'll tell them to cancel the application and try to find another bank that does a balance transfer for low interest fee.

This post has been edited by awaynoway: Dec 24 2008, 05:00 AM

I suggest to pay online via their CIMB online banking - www.cimbclicks.com.my

When they (PBB) last rejected your application? I don't know if it matters. I thought only that banks will not reconsider the application (re-review) until after 6 months from previous of application. I have read it somewhere but could not remember where (will try to find the link).

That's cool to hear! Good to know that PBB (my first cc BTW is PBB) do not have such policy on re-apply thingy.
I now remember reading the said information in Citibank site but I can't find the link again.
BTW, I have applied for UOB card (not platinum but gold only) and I hope their approval rate is high also
I'll find out the result next week (their CC CS said).

Most banks require RM5K as initial/minimum FD. Their ratio is 1:1 (e.g. FD is 10K, you'll get gold card with 10K CL or FD is 20K, you'll get platinum with 20K CL).
It depends how much CL you like. If you want higher CL, put it more money
Advantage is you get the card you like with CL amount you prefer in easy way and most important, you'll have better interest rate than normal savings account.
Disadvantage is you can't withdraw unless you want to give up your credit card. (In case some FD acct holders need their cash).

FD to get a card (secured card) is quite useful (or only want to go) for some:
For me, it's the only way to go.
I have FD with PBB as investment (3.70 per year is the FD interest I'll earn and its auto-renewed for 7 years). I also requested for card after I FD'ed to them in addition to my savings and current accounts with them. They gave me gold card that is valid for 3 years. I have the option to have platinum but I refuse platinum as the features is not what I need. I'm not frequent traveler anyway then the annual fee for plat card is high. I am not big spender/swiper so I don't think I can use the 12 swipes to have the annual fee waived.
I got no payslip and no credit history here in Malaysia (because I've been overseas since young and now that I'm back here in M'sia, all I can do is to time deposit my hard earned money as fixed/time deposit so I don't lose them that quick ). I have CC issued in the US which is active but most banks here do not recognized credit card issued outside M'sia as supporting documents. Also, having a locally issued credit card is better since I'll be using it here in M'sia (avoid some rates to pay if I will use the U.S. bank issued credit card).

This post has been edited by awaynoway: Dec 30 2008, 03:20 PM