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 Credit Card Thread V6

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charymsylyn
post Mar 15 2009, 02:09 AM

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QUOTE(labtec @ Mar 15 2009, 12:55 AM)
Hi all, my parent found out that they been charged RM15.61 by CIMB bank for not paying the full amount of Credit Card on that month(accidentally left out RM31.59 and paid the remaing of dept one day late)

my question is how come is RM15.61? The interest they charged is damn high for the late payment of the amount of RM31.59. AFAIK, the interest rate is just 1.8% per month for CC outstanding balance.

anyone working in bank can help me on that? here is the transaction history.
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http://en.wikipedia.org/wiki/Credit_cards#Interest_charges

Perhaps the first paragraph of the above link in Wikipedia can enlighten you. tongue.gif
inspiron
post Mar 15 2009, 02:33 AM

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QUOTE(labtec @ Mar 15 2009, 12:55 AM)
Hi all, my parent found out that they been charged RM15.61 by CIMB bank for not paying the full amount of Credit Card on that month(accidentally left out RM31.59 and paid the remaing of dept one day late)

my question is how come is RM15.61? The interest they charged is damn high for the late payment of the amount of RM31.59. AFAIK, the interest rate is just 1.8% per month for CC outstanding balance.

» Click to show Spoiler - click again to hide... «

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1)interest rate is 1.5% p/month

2) if you pay only on due date, you would have accumulated 2 weeks of interest

3) late charge min rm10 i think
ed0gawa
post Mar 15 2009, 03:26 AM

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QUOTE(WhiteWing @ Mar 14 2009, 09:13 PM)
Just now meet that Citibank promoter,she said need EA form woh .. no EA form , don't do for me .. such promoter ... so action ..
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Sorry to say this.
Know your own situation first lo.

Basic only RM1.3k
Other is allowances and commission.

Commission CONFIRM will get meh? Nope.
Basic pay is what you are confirmed getting as long as you work. Commission is not. That is how the bank look at it.
IF they reject your case, most probably they only take your basic pay into consideration.

Why need EA form?

Salary slip can be doctored. Can be printed easily. Can be cash voucher. Can be signed by anyone.
But if you pay slip and bank statement and EA form and CPF tallies then they take it as genuine. Ofcos, you can say that EA form/EPF/Bank Statement can be doctored too, but if you managed to doctor it till no one can find a flaw, i would say u deserve the card.

Those credit people can be so experienced that they can actually tell if it is a fake or real stuff by a glance (i am saying some).

Like they say, there are so many banks, try 1 by 1 lo.
Try RHB Tesco card... i got mine approved although i submit the application for fun with a copy of credit card which is only 6/7 month old. Normally they wont accept unless the card is more than 12 months. But who knows why it got approved. And no, i have no accounts/facilities with RHB, my track record ain't exactly great, i have a quite a bit of outstanding though
GHz
post Mar 15 2009, 10:23 AM

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QUOTE(ed0gawa)
Sorry to say this.
Know your own situation first lo.

Basic only RM1.3k
Other is allowances and commission.

Commission CONFIRM will get meh? Nope.
Basic pay is what you are confirmed getting as long as you work. Commission is not. That is how the bank look at it.
IF they reject your case, most probably they only take your basic pay into consideration.
Some bank do accept allowances & commission. All you need to do is show them the proof.

QUOTE(ed0gawa)
Why need EA form?

Salary slip can be doctored. Can be printed easily. Can be cash voucher. Can be signed by anyone.
But if you pay slip and bank statement and EA form and CPF tallies then they take it as genuine. Ofcos, you can say that EA form/EPF/Bank Statement can be doctored too, but if you managed to doctor it till no one can find a flaw, i would say u deserve the card.

Those credit people can be so experienced that they can actually tell if it is a fake or real stuff by a glance (i am saying some).
That is right but not all banks asking for EA form as mandatory. 3 months income statements is sufficient.

QUOTE(ed0gawa)
Like they say, there are so many banks, try 1 by 1 lo.
Try RHB Tesco card... i got mine approved although i submit the application for fun with a copy of credit card which is only 6/7 month old. Normally they wont accept unless the card is more than 12 months. But who knows why it got approved. And no, i have no accounts/facilities with RHB, my track record ain't exactly great, i have a quite a bit of outstanding though
Some banks such as Ambank accept other credit card at least 6 months old (Ambank write this in their application form). I do not know about RHB but 12 months credit cards not really necesary.
jackolantern
post Mar 15 2009, 10:27 AM

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just curious 0% interest apply on certain card? or all credit card eligible ?
WhiteWing
post Mar 15 2009, 11:50 AM

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THen I better don't apply since my salary is RM1.3k ....
RockIron
post Mar 15 2009, 11:52 AM

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Some banks such as Ambank accept other credit card at least 6 months old (Ambank write this in their application form). I do not know about RHB but 12 months credit cards not really necesary.
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[/quote]

Yup,agreed.
PBB also stated they accept pledge cc application if u hav hold other cc for at least 6 months.
But they denied my application,even I can proof them whatever they want. Lastly,found the reason due to their internal cc policy. But Amex approved my plat charge card recently,really not understand a higher requirement cc can approved but for the lower requirement being denied.
As I say, cc approval sometimes depend on luck other than u r qualified bcoz issuer's still can denied issue cc to u without need to assign any reason.
namh
post Mar 15 2009, 01:53 PM

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I applied CIMB Petronas CC with my 3 months old Maybank Ikhwan CC, and it approved.. get the approval after a week, and the card arrived a week later.. Dont know why it is easy to get it..
labtec
post Mar 15 2009, 01:54 PM

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icic, they are charging interest on the whole CC dept for that month, not the RM31.59 outstanding balance
GHz
post Mar 15 2009, 01:59 PM

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QUOTE(WhiteWing @ Mar 15 2009, 11:50 AM)
THen I better don't apply since my salary is RM1.3k ....
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Don't merajuk ler. Try again from other bank. Show them the proof for your commision & allowance too.
inspiron
post Mar 15 2009, 02:42 PM

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I dont know if this info is outdated, but a few years ago, I heard RHB would accept basic as low as RM1200. if you have other pending loan like car loan, then its different story.

lowest in the market I think.
hye
post Mar 15 2009, 02:48 PM

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QUOTE(inspiron @ Mar 15 2009, 02:42 PM)
I dont know if this info is outdated, but a few years ago, I heard RHB would accept basic as low as RM1200. if you have other pending loan like car loan, then its different story.

lowest in the market I think.
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Don't think so. This is more like a myth / urban legand. For many years (I think circa 2000), BNM has set the minimum qualification for cc application to be RM18k per annum - turns out to be RM1.5K per month.
WhiteWing
post Mar 15 2009, 03:27 PM

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QUOTE(GHz @ Mar 15 2009, 01:59 PM)
Don't merajuk ler. Try again from other bank. Show them the proof for your commision & allowance too.
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Ohh ..... I go show them proof ... I lazy go get bank statement leh ~
hye
post Mar 15 2009, 07:27 PM

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Came back from MATTA fair today with an information. In case, anyone wanting to apply for the Worldcard from CIMB/DA using their existing cc, you will need as preexisting credit limit

- 100K for CIMB WorldCard (I think RockIron Reventon mentioned this before)
- 80K for DirectAccess WorldCard

This post has been edited by hye: Mar 15 2009, 09:56 PM
RockIron
post Mar 15 2009, 09:28 PM

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QUOTE(hye @ Mar 15 2009, 07:27 PM)
Came back from MATTA fair today with an information. In case, anyone wanting to apply for the Worldcard from CIMB/DA using their existing cc, you will need as preexisting credit limit

- 100K for CIMB WorldCard (I think RockIron mentioned this before)
- 80K for DirectAccess WorldCard
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Not me, it's brother Reventon that mentioned.
Yup,to apply CIMB WMC,existing cc with CL at least 80k-100k are needed.
Or might pledge using Amex plat charge card.
hye
post Mar 15 2009, 10:00 PM

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QUOTE(RockIron @ Mar 15 2009, 09:28 PM)
Not me, it's brother Reventon that mentioned.
Yup,to apply CIMB WMC,existing cc with CL at least 80k-100k are needed.
Or might pledge using Amex plat charge card.
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Opps ... made that correction. My highest limit is still a fair bit to go before hitting the min 80k. Well, just need to work harder to achieve it but with the economic crisis - it is going to take a bit longer to get my increment the next round.

This post has been edited by hye: Mar 15 2009, 10:00 PM
RockIron
post Mar 15 2009, 10:13 PM

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QUOTE(hye @ Mar 15 2009, 10:00 PM)
Opps ... made that correction. My highest limit is still a fair bit to go before hitting the min 80k. Well, just need to work harder to achieve it but with the economic crisis - it is going to take a bit longer to get my increment the next round.
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Try focus ur spending with CIMB plat cc.
Maybe a 100k spending a year might let them invite u the WMC.
Reventon
post Mar 15 2009, 11:07 PM

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QUOTE(hye @ Mar 15 2009, 07:27 PM)
Came back from MATTA fair today with an information. In case, anyone wanting to apply for the Worldcard from CIMB/DA using their existing cc, you will need as preexisting credit limit

- 100K for CIMB WorldCard (I think RockIron Reventon mentioned this before)
- 80K for DirectAccess WorldCard
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it's 100k Minimum CL for your existing card to apply the Cimb world Master. As bro RockIron said, consolidate your every spending into Cimb plat card will make your way faster to be invited.
By the way i happen to found out that CIMB Plaza Damansara still having 1 hour world card Approval. Anyone interested can straight away go to that branch and get the card on the spot. Ain't sure the free luggage still on or not.











MilesAndMore
post Mar 15 2009, 11:19 PM

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QUOTE(WhiteWing @ Mar 15 2009, 03:27 PM)
Ohh ..... I go show them proof ... I lazy go get bank statement leh ~
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For me, i never submit my bank statement when applying credit card even if they request for it. To be my bank statement is personal and should be confidential. Nobody can view my account details other than me and the staff of the bank i hold the account with. Should they insist for my bank statement i would just walk off.


QUOTE(hye @ Mar 15 2009, 07:27 PM)
Came back from MATTA fair today with an information. In case, anyone wanting to apply for the Worldcard from CIMB/DA using their existing cc, you will need as preexisting credit limit

- 100K for CIMB WorldCard (I think RockIron Reventon mentioned this before)
- 80K for DirectAccess WorldCard
*
Crazy but i'd still like to give it a try someday. LOL !

Any idea about SCB VISA Infinite ? What's the minimum CL needed if we apply using an existing card ?
Reventon
post Mar 15 2009, 11:36 PM

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i think 40k is sufficient for Scb visa infinite. The income requirement is 150k, it's same with Hsbc plat visa.
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