Public Bank credit cards have a new flexible repayment plan which would allow holders of these credit cards to make purchases now and pay later over a period of 6 to 24 months and enjoy a low one time upfront interest rate of only 2% for 6-month instalment tenure, 3% for 12-month instalment tenure and 6% for 24-month instalment tenure.
Of course, to enjoy this low interest rate, there is a minimum expenditure: RM1000 for 6 months, RM2000 for 12 months and RM4000 for 24 months. This looks very appealing, I have to say but then Public Bank is going out of their way to make credit card holders commit to their credit cards so this special offer is for a limited time only. It's not stated when it will end, though.
Anyway, reading the fine print, Public Bank explicitly states that once committed to a plan, the credit card holder has to go throiugh with it or an early exit fee of RM100 will be charged. So now you know why people don't want to clear their debts early even if they could afford to.
Of course, to enjoy this low interest rate, there is a minimum expenditure: RM1000 for 6 months, RM2000 for 12 months and RM4000 for 24 months. This looks very appealing, I have to say but then Public Bank is going out of their way to make credit card holders commit to their credit cards so this special offer is for a limited time only. It's not stated when it will end, though.
Anyway, reading the fine print, Public Bank explicitly states that once committed to a plan, the credit card holder has to go throiugh with it or an early exit fee of RM100 will be charged. So now you know why people don't want to clear their debts early even if they could afford to.
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