No i do not sell credit cards...
basically what i do is help people to clear their credit card debts...
there are 2 options
1)its called balance transfer...
first you have to know that if u don't pay ur credit card bills on time...you would be charge 18% p.a (reducing balance, which means it is counted every month or every day, if it is counted every month it is called monthly rest..if counted everyday its called daily rest...for credit cards its monthly rest)...yes you can actually not pay the full amount...the minimum payment is 5%
take an example
This month u spend rm2000 on ur credit card....end of the month u can't pay all...so ur minimum payment is rm100...say if u pay rm200 this month..
then next month u spend another rm400...
so ur next bill would be rm2000-200=rm1800 + interest 1.5% per month.. rm27 = rm1827
then u add this months spending 1827+400 = ur total bill this month is rm2227
ur minumum payment this month is rm111.35...and this goes on n on...
so coming back to balance transfer...what balance transfer??
basically you transfer your outstanding balance from one bank to another bank...
y balance transfer??
u save on interest...
the program i am introducing is a 3 years program...
the interest is 7.99% p.a (fixed..which means the interest have been calculated over the 3 years...
take the earlier example...
for an outstanding of rm2227 the minimum payment is rm111.35
if you do a balance transfer of rm2227 then ur monthly installment is rm76.69
how did i get that
[(2227*7.99%*3) + 2227] % 36 = 76.69
basically instead of paying rm111.35 now u just pay rm76.69 every month and you will be able to clear your outstanding in 3 years...
so basically the amount of cash u save...u can invest in other places...
if u think this saving is not alot a month...think again... i have meet people with outstanding of more then rm130,000...imagine how much is his minimum payment..and how much he can save...
But if u ask me, my personal opinion.... i would say do this only if u can't afford to clear ur outstanding or u can only pay the minimum payment every month...
But my best advice is don't get into credit card debts...i can safely say it is one of the highest interest u will get charge for a loan....
2) its called quick cash or personal loan....which is the "In" thing now... i will write on this another day when i am free....
