During Chinese New Year time, I have made a relatively large purchase in a retail shop with my CIMB credit card, amounting to RM3k+.
After considering the additional cost incurred (the interest), I've decided to convert that transaction to 10 months instalments with a one-time upfront interest of 2%. This means that by paying CIMB RM60+ for the interest, I can repay the RM3k+ credit card transaction in 10 months period, equilvalent to 0.2% interest per month.
The process is pretty simple. Just make a call to 03-62047877 (CIMB credit card customer service) and inform them you want to convert the transaction to CIMB Smart i.Pay instalments. After some verification and confirmation, the transaction will be converted into the instalment plan accordingly.
CIMB Smart i.Pay scheme is as below:
Maximum amount for Smart i.Pay conversion is RM30k per transaction.
In fact, if the transaction made is for education, insurance or hospital expenses, you can convert it to CIMB Smart Flexi-Pay for 10 months, 0% interest repayment scheme. The minimum spending for that transaction is RM1k to be eligible for CIMB Smart Flexi-Pay.
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