AmBank credit cards come with a feature that allows you to transfer outstanding balances from credit card of other banks onto your AmBank credit card. The facility is known as AmTransfer. This scheme comes with a flexible range of tenures that has a maximum limit of 24 months. You can use the facility with your AmBank credit cards and AmIslamic credit cards.
The interest rates of AmTransfer are contained in the following table:
|Plan||Repayment tenure||Minimum transferable amount||Interest rate|
|A||6 months||RM1,000||4.99% p.a.|
|B||12 months||RM5,000||8.99% p.a.|
|C||24 months||RM5,000||8.99% p.a.|
The benefits associated with the balance transfer scheme are as follows:
You can approach the application process of the facility either of the following ways:
The terms and conditions related to balance transfer scheme are listed below:
Q. Is there any charge I have to bear if I settle the entire outstanding amount before the scheme’s maturity?
A. You are required to pay an early penalty fee of RM100 if you choose to settle the amount before the end of tenure.
Q. What are the finance charges applicable to the facility if I do not entirely settle the amount within the tenure?
A. The finance charge applicable to the facility after the end of tenure is 18% p.a.
Q. Can I change the amount or tenure during after the application is approved?
A. No, you cannot change the tenure or amount once the application is approved.
Q. Where can I get the AmTransfer application form?
A. You can download the form from the following link:
Q. Where can I get more details regarding AmTransfer?
A. You can get more information at any branch of AmBank or by contacting the bank via the following customer service number: +603-2178 8888. You can also fax your queries at +603-2171 3171 or send a mail at firstname.lastname@example.org.