Topic: Abt Credit card Interest Charged!

[kokanChai]

Hii all..

whoever bro..who using credit here..
can guide me a little?

i just got applying a credit card..( Alliance bank)

just wanna know..
u use credit card, u own the outstanding , how much interest he will charge u on the credit term ..per month?

i check the bank website its say..
(5% of the outstanding balance or a minimum of RM50 whichever is higher)
but some agent..guys told me that..everybank goes 1.5 % only?
and my frd who own a maybank..tell me..2 %..

some of my frd say.depend on the bank,some bank wil giv u 1 month free for interest,tat mean 2nd month baru have interest..

which one are real huh?

i tho everybank..goes the same credit term?

 

[huakenny]

it is better to use International bank....like Citibank, Standasrd Chartered, HSBC those kind of credit card.......can use it at overseas wothiut any problems.....if u use local credit card at overseas..sometimes they may not willing to accept...

interests mostly i think depends of d banks....but make sure u can pay for every payment u swiped....dun simply swipe swipe swipe but at then end no money to pay back....then u will got to pay interst every months...

this is y so many ppl die wit using credit card til POKAI....no money pay back.....one month swiped rm3000 but afford to pay rm500 only.....so rm2500 bring forward + interests....

 

[PocketRocket]

i use my fav. 4 letter word...


















C-A-S-H :D :D :D

 

[bvalve]

so rm2500 bring forward + interests


RM2500 x 1.7% =RM2542.50:)

 

[aramis]

Hii all..

whoever bro..who using credit here..
can guide me a little?

i just got applying a credit card..( Alliance bank)

just wanna know..
u use credit card, u own the outstanding , how much interest he will charge u on the credit term ..per month?

i check the bank website its say..
(5% of the outstanding balance or a minimum of RM50 whichever is higher)
but some agent..guys told me that..everybank goes 1.5 % only?
and my frd who own a maybank..tell me..2 %..

some of my frd say.depend on the bank,some bank wil giv u 1 month free for interest,tat mean 2nd month baru have interest..

which one are real huh?

i tho everybank..goes the same credit term?

BECAREFUL!!!! Please restrain control when using CC. I have seen friends who swipe the card to mod their cars and one of my friend actually has to sell off his car coz he has accumulated debts of up to Rm30k!!!

ok. Just to answer some of your questions.
1. The minimum monthly payment is 5% of the outstanding or RM50, whichever is higher.
2. The interest rate on the outstanding balance is 1.5% per month, which is 18% per year!

Use the card for convenience and not to "borrow" money and spend on expensive stuff.

Good luck. ;)

 

[kokanChai]

aramis..

how do u know?is 1.5 % per month?

hmm...

 

[PocketRocket]

yea...ur just using the banks money as an advance 1st...thets y banks give bout few days b4 starting to charge u interest.

if ur gonna use credit card,be sure that u can pay back on the spot every month

 

[xerofighter]

yalor. cc can destroy your life. burn it all up today :D

 

[aramis]

aramis..

how do u know?is 1.5 % per month?

hmm...

coz that's the fact. Go ask any bank.