Yes and No. It depends. In my Amex Charged Card Statement there is a Payment Due Date stipulated usually on about 16-18th of the month. Most of the time I will bank in my cheque only after the 20th and never got charged for late payment. However if one pay after the Statement Date, then sure interest and late payment will be imposed.

Above question is most relevant to those of you using CC overseas.

I just reread the 1st post of this thread to confirm online/overseas transactions and was surprised to note that AMEX charge 2.5%. Damn it, I should have came here to recheck the overseas transaction charges before I made a US3,420 online charged on my AMEX 2 days ago. Only consolation using AMEX is that I have Turbo Rewards and that gives me 1.5% cash back should I wish to redeem my Membership Reward Points for cash rebate option instead of vouchers.

I am also surpised to note on the 1st post where it mentioned that UOB does not impose any surcharge on overseas or online transactions. I called up UOB and they confirm this.

Luckily I came here reread the 1st post as I will be doing more USD transactions in the coming months and looks like UOB is the only card I be using from now on for overseas and online transactions.

I would like to thank everyone here who have contributed information related to the 1st post of this thread.

This post has been edited by Gen-X: Apr 13 2009, 12:27 AM

I would like to clarify above statement as I find it inaccurate. One can do balance transfer from another bank to a certain credit card account (lets call it Card A) prior to statement due date and thus not having outstanding balance in Card A. (And as such not defaulted in payment to Card A or not a cent of interest was charged for Card A).

Just for your info, in Malaysia, HLB card members can do "balance transfer" to any credit card account or even to savings or current account eventhough one does not have any outstanding balance. In respect to transferring "so called balance transfer" to current/savings account, many people are not aware of this balance transfer. HLB people have called me many times on this offer where I can make "balance transfer" to my current/savings account up to 90% of my credit limit, this so called balance transfer to bank accounts is more like a loan. This interest rate of 0.5% ( or 6% annualized) for 6 months and the interest rate is very competitive and even lower than one of my OD facilities.

There is no upfront interest charges except for a nominal fees of RM2/= for each request for fund transfer.

Below is the link
http://www.hlb.com.my/pfs/cc/ccbt.jsp?flag=ccbt

Look thru the previous posts, inspiron, one of LYN member even had a better idea. he mentioned that one can call HLB to do balance transfer (with competitive interest charges) to his/hers bank account and use this said balance transfer to pay for his/her HLB credit card and thus reducing his/her interest charges and not defaulted in payment.

in respect of upfront fees and upfront interest, i would like to share my opinion as follows:

1. for upfront fee like HLB RM2.00 for balance transfer, I would say it is nominal and of no concern.
2. for other companies that charge surchage of 1% for balance transfer (equivalent to 12% when annualized). For this case, you are absolutely right to say that there is a upfront payment when we do this balance transfer. However nowadays not many banks imposed upfront surcharge. This kind of surchage were imposed years back when some banks were offering 0% interest free balance transfer for a certain period.



you are right for general cases where people who usually dont have enough funds to pay their credit card will do BT from another bank to cut down interest charges and at the same time gives the other bank to collect interest, but i feel that banks offer initial competitve rate because most propbably the person who did BT will still won't have enough money to pay the balance transfer comes end of the BT "promotion" period and end up paying higher interest which makes the banks richer BUT it it not applicable to all nor it necessarily means that a person had defaulted in payment because he did balance transfer.

Please correct me if I am wrong above, does Bank Negara clasify people who have done balance transfer as defaulters if he or she had made the BT and the funds transferred prior to Statement Due Date (as in suiteng case) where no interest nor late payment charges were imposed?

based on above comment that you are self-employed of a sdn bhd company, I assume you are a shareholder and director. Instruct your staff to prepare your own pay slip lah i.e. payment voucher also same. Actually being a Sdn Bhd company, your company expenses should be well recorded - believe me you will appreciate this when IRB comes and audit your company.

Is your company paid up capital RM2? The bank can easily determine your worth by checking with SSM. Why don't you ask the bank manager which your company have business with to recommend you a credit card?

Maybe you were not issued a credit card because you do not have a credit history with CCRIS, what cards have you applied for?

FYI, sign up HLB smartlink account and you'll be issued a Gold Card. See link below.

http://www.hlb.com.my/pfs/dep/depsmacc.jsp?flag=depsmacc

need more info on credit card, click on my signature below.

CIMB DA is free for life without any conditions if you are a graduate, no harm getting it. Furthemore CIMB bank is everywhere so very easy to make payment.

HSBC is free if you swipe 12 times a year. I just got my statement and was charged annual fee RM600 for Visa Plat. Called them and straight away they waived it and the operator told me that next year onwards auto fee waiver if charged more than 12 times.

Read my blog below for more CC info in general

http://creditcardsmalaysia.blogspot.com/20...rds-cc-101.html

My first credit card from a local bank was from UOB in 1991 or 1992, a gold Visa then. When they introduced Visa Plat they upgraded me automatically in 2002. Never paid a single sen of annual fees to OUB. The CL limit given to me back in 2002 for my Visa Plat was RM40K if not mistaken and they have subsequently incresed my credit limit.

So far I find their service to be very good but I do agree that they have stupid policies. Since 2-3 years back, to save the hassle of calling them every year for annual fee waiver, they asked me to get a Mastercard and swipe 6 times for both Visa and Mastercard to get automatic waiver. So I will swipe my Mastercard 6 times and then put it in my drawer until the following year and then swipe again 6 times before it goes back into my drawer.

The CL for my Alliance Visa Plat is same as my HSBC and UOB Visa Plat. Alliance Visa Plat has a pretty good tiered cash back but up to RM5000 only (something like max RM68+). I do tend to use my Alliance often as I get reward points on top of cash back.

This post has been edited by Gen-X: Jun 4 2009, 08:24 PM

You should be able to swipe overseas without calling the CS but it be better if you call CS and inform them of the duration you be in overseas so that the info is in their system.

Hi Dannyl, I have no idea on You:nique card cash rebate, in their website all it says is up to 2% and no other info.

For Alliance Visa Plat, the cash back is up to 2%. And if you spend more than RM5000, there is no futher cash rebate - can't understand this. Assuming you do have transactions up to RM10,000 during the statement period, you will only get cash back for transactions limited to RM5K which is something like RM68/month. So what I do is once I spend more than RM5K, I charge my transactions with AMEX and enjoy 3X rewards points. But last month the first RM5K was charged into my HSBC as they giving free samsonite bag.

And yes, Alliance rewards points have no expiry date so far.

For more info on Alliance Cash Rebate, click link below:

http://www.alliancebank.com.my/ccard_cashback.html

click on my signature to visit my blog on credit cards.

** for my comments on You:nique click below
http://creditcardsmalaysia.blogspot.com/20...mastercard.html

Nowadays there is no status in owining credit cards. Back in the early 90 when I started work the minimum annual income needed for gold card was RM48K. Now RM48K** also can get Visa Platinum (Robinson)**. I have Citibank Clearcard CL > RM20K and RHB EVO** where the CL is RM40K which is more than some people having Plat cards.

Nobody cares what card one has. Generally the person that sees the card is the cashier that swipe it and his/her only concern is that the transaction is approved.

One should choose a particular card for its benefits and not design.

** Edited

This post has been edited by Gen-X: Jun 10 2009, 08:39 PM

It is good that you acknowledge you have a debt problem that have gotten out of hand and now taking the necessary actions to overcome it and hopefully be wiser from now on.

Yes BT is one option to lower your interest payment. The lowest interest rate mentioned in one of the posts is by Maybank at 0.375% per month. Click link below:

http://www.maybank2u.com.my/maybank_gif/pe...ave_bt_plan.gif

Banks like UOB, HLB and HSBC offer same interest rate compared to Maybank for 6months, 9 months and 1 year plan at 0.5% 0.75% and 1% respectively. From the table it looks like Maybank offer for 24 months is very competitive and the interest savings is more compared to the 1 year plan (Why is this so? What is Maybank strategy here?).

Not sure what card you have, but previously I mentioned above HLB BT where they transfer funds into you bank account and a member here had a great solution of lowering his interest charges on his outstanding balance with HLB where he asked for BT (i.e. fund transferred into bank account) where the interest is lower and used the same money to pay his outstanding balance in his main HLB card.


Agree with you, but it is more like why pay if one won't be using the benefits that comes with AMEX Plat (charged card where other platinum cards benefits cannot compare to it).

This post has been edited by Gen-X: Jun 11 2009, 05:33 PM

This is great news. Thanks for sharing.

I am going overseas in August for about 2 weeks and going to pay for my tickets soon. I have Plat HSBC, Alliance, DA, UOB and HLB besides AMEX Gold. Anyone can suggest which card to use for purchasing my air tickets in terms of insurance benefits. I noted so far the benefits as follows:

HLB - Travel Accident RM1.7M, Overseas PA RM300K, Missed Flight Max RM2.4K, Luggage Lost - RM5K and Luggage Delay RM2.4K
Alliance - Travel Accident RM1M, Overseas PA ?, Missed Flight Max RM800, Luggage Lost - Nil and Luggage Delay RM800
AMEX Gold - Travel PA RM500K, Overseas PA ?, Missed Flight Max RM300, Luggage Lost - 750l and Luggage Delay RM300
UOB - Travel Insurance up to RM2M but can't find any further info.
DA - Travel Insurance up to RM1M but can't find any further info.

From Citibank website, noted the insurance that come with air line tickets purchase is pretty good but unfortunately I don't have Citi Plat Card.

From the above info, I am thinking of charging my air line tickets to HLB. Would appreciate further info or recommendations on this matter.
MileAndMore - your suggestion/comments would be most appreciated.

click on signature - you may get some info on waiver, points redemption comparison, cash back and installments program.

To do a table on discount is pretty tough as each card have discount at different outlets.

There have been many questions on Balance Transfer lately. I was damn free so did comparison on interest rate between banks.

Interested in Balance Transfer, read my comments in my blog below:

http://creditcardsmalaysia.blogspot.com/20...nd-balance.html


To summarize, Public Bank offers really competitive rates for Balance Transfer Plans

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Added on June 14, 2009, 11:52 pmBro, I mentioned automatic annual fee waiver lah and it is free for life as long as you swipe is 6 times yah

This post has been edited by Gen-X: Jun 15 2009, 12:09 AM

Was at Petronas early this month as wanted to get Transformer T-Shirt and Cap for son and a sales girl approach me to apply for Maybank Petronas. The sales girl asked for "help" as it was already close to 7pm and she said she had no customer, so me being easily con filled in the application form. Today got the Maybank Petronas Visa Card via Post Laju. I guess since Maybank took over Amex, they would have my personal info and such I got the Visa from them so easily.

This post has been edited by Gen-X: Jun 15 2009, 12:57 PM

Noted Bro.

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Added on June 15, 2009, 8:32 pmcheck the previous pages, it was posted as a new thread and one of the mod incorporated it in this thread.

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Added on June 15, 2009, 8:33 pmYou are giving free advise that is priceless.

This post has been edited by Gen-X: Jun 15 2009, 08:33 PM

You are right, if he got time to post here at LYN around 12 noon he should have enough time to go fill in a CC application form which can be easily be obtained from the bank (unless his office is in some kampung where there are no banks) or he can simply ask his dispatch boy to go get one. As you and ronnie pointed out, there are plenty of agents on weekends at the malls, guess where he comes from there are no malls, hahaha

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Added on June 17, 2009, 4:07 pm**Edited**

Usually, the approximately 20 days interest free period only applies if settle all outstanding amount prior to the payment date. So if you pay 5% minimum payment only, interest will be imposed immediately for all new transactions i.e. you no longer get the 20 days free interest.

But from the link you gave, you do enjoy automatic 20 days free interest for new transactions if you pay the minimum 5% before payment due date. Guess Bank Islam's policy here is good for the card holder.

This post has been edited by Gen-X: Jun 17 2009, 04:12 PM

well, you said you are a lawyer, so I would expect you to be smarter than others since you are a learned gettleman. Since you got internet, I am sure you would have checked out the website of the card issuer you are interested in and I am sure you would have seen their customer service contact number or even email contact, you could have easily called CS and they will give gadly fax to you the applications form (but you should know where to get info like this since you are a lawyer right?). Is just that you boasting that you are so busy that got no time... I deal with lawyers and even have lawyer friends and they got time for happy hour, hahaha you must be the most hardworking lawyer around.

This post has been edited by Gen-X: Jun 17 2009, 06:01 PM

there is no problem if one uses his/her credit card to pay company bills or bill issued in the name of the company as long as the amount reimbursed to the individial is the same amount. Is the same as if the individual when to pay bills using cash and the company reimburse him/her later.

Actually, the individual benefits from doing above as he/she will get reward points and at the same time no loss or gain for the company comes end of financial year.

Don't be sad, go get UOB One Card where you will also enjoy rebate 2% at Giant. Once you max out the rebate for your Citibank, switch to UOB or other cards that gives rebate.


I don't think she said she spend RM60K at Giant. ronnie was saying in order to get RM600 rebate one needs to spend RM30K. Anyway it is common for people who are in the restaurant businesss to make their purchases at hypermarkets and as such not surprising if one spend more than few hundreds ringgit every few days.


In the early 90s there was no plat card if not mistaken so Gold Cards ( UOB started Midas in the 90s ) holders may have high credit limt. Nowadays gold card credit limit can even start lower than RM10K.

Anyway, as mentioned earlier, nowadays there is no status in having Plat as it is so common. In this early millenium, when I first got my first Plat and went to the phone shop to get buy a phone, the sales manager was like so impressed, nowadays who cares? Even youngters can have visa and mastercard eventhough it is a debit card.

Bro, congrats on your UOB Plat with credit limit of RM30K. Some Robinson Plat even lower credit limit. According to UOB website, their Plat has no preset limit.

UOB Preferred Platinum leads you to a road of endless opportunities ahead. With no pre-set spending limit*, your purchasing power adjusts with the use of your Card. It is possible for you to spend beyond your credit limit with the UOB Preferred Platinum Card

I just got my new UOB Plat card as the previous one expiring next month. I like the card with Matt finish compared to my other cards which are kind of "glossy" or "smooth" finnished.

That's why Plat card no status loh, haha. The only card that really shows you got $$$$ is Amex Plat Charge Card.