BALANCE TRANSFER BIRTHDAY OFFER: LIFETIME 4.99% P.A.
1. The Balance Transfer Birthday Offer: Lifetime 4.99% p.a. (“Lifetime 4.99% p.a. BT”) is open to Existing Principal Hong Leong Credit Cardholders (“Cardholder”) who apply for Balance Transfer (“BT”) during their Birthday Month.
2. Each Cardholder is only qualified for one Lifetime 4.99% p.a. BT throughout his / her Birthday Month.
3. Hong Leong Bank (“the Bank”) reserves the right to approve or reject the Lifetime 4.99% p.a. BT application submitted by the Cardholder without assigning any reason.
4. The eligible Cardholder may apply to transfer his / her personal credit card outstanding balances from other banks’ credit card account(s) to his / her HLBB credit card account, or for an applied BT amount to be credited to his / her personal current or savings account/-i (“CASA/-i”).
5. The minimum amount per application is RM1,000.00 and the maximum is subject to the Cardholder’s available credit limit and the Bank’s approval.
6. The Bank will notify the Cardholder in writing whether his / her Lifetime 4.99% p.a. BT application has been approved and the approved amount (“BT Approved Amount”). Once the BT Approved Amount is determined, a corresponding amount of the Cardholder’s credit card limit will be earmarked for this purpose and the available credit limit balance will be reduced accordingly. The Bank shall not be liable for any transactions rejected by merchants due to the unavailability of the credit limit earmarked for this purpose.
7. Upon transfer of the BT Approved Amount to the Cardholder’s BT Account, the interest of 4.99% p.a. will be calculated on a daily basis and charged on the balance of the BT Approved Amount until the date of full repayment.
8. The Cardholder shall be obligated to pay the monthly minimum payment of 5% from the outstanding amount in the BT Account or RM50.00, whichever is higher. If the Cardholder fails to make payment on or before the due date, the 4.99% p.a. interest rate will be retracted and interest at 18% p.a. will be charged on the amount outstanding in the BT Account on a daily basis until full repayment. Failure to comply with the minimum payment obligation will also result in a late payment fee of 1% of total outstanding balance as at statement date or minimum RM10.00, whichever is higher, subject to a maximum of RM100.00 being posted to the BT Account.
9. The Bank reserves its absolute right to retract the 4.99% p.a. interest rate if the Cardholder breaches any of the terms and conditions of the BT as well as the prevailing terms and conditions of the Cardholder Agreement (“Cardholder Agreement”).
10. Each Cardholder is only qualified for one Lifetime 4.99% p.a. BT under the Birthday Offer. In the event that more than one (1) Lifetime 4.99% p.a. BT application is submitted and approved, the Bank may at its sole and absolute discretion retain the first or earliest approved Lifetime 4.99% p.a. BT plan, cancel the remaining plans and convert them into existing BT plans at 1% per month for a period of twelve (12) months from the date of transfer.
11. Notwithstanding anything contained in Clauses 8 and 9 above, if at any time, the Cardholder’s credit card account and / or BT Account becomes overdue or delinquent, the Bank may at its absolute discretion charge on the outstanding balance in the BT Account at the interest rate of 18% p.a. notwithstanding that the 4.99% p.a. is for lifetime.
12. Pending approval of the Cardholder’s BT applications, the Cardholder shall continue to be liable to make payment to his / her other credit / charge card account(s) with the respective issuing financial institutions and / or companies in accordance with the terms governing the same. The Bank shall not be liable for interest on any overdue payment or any finance or other charges incurred as a result of the Cardholder’s and / or the Bank’s failure or delay in making payment to the other credit / charge card account(s) with the respective issuing financial institutions and / or companies.
13. The Bank reserves the right to add, alter, modify, change or vary the terms and conditions contained herein, in part or whole. Subsequently, the Bank may at its discretion mail the Cardholder or notify by way of posting a notice in the Bank’s banking halls or on the Bank’s website at www.hlb.com.my, or any method which the Bank deems practical for such additions, modifications or amendments of the terms and conditions.
14. The terms and conditions herein contained shall be governed by and construed in accordance with the laws of Malaysia.
15. These terms and conditions are in addition to the Cardholder Agreement and the Cardholder agrees that the general terms and conditions in the Cardholder Agreement shall be read together with these terms and conditions as an entire agreement. In the event of any discrepancies between these terms and conditions with the general terms and conditions contained in the Cardholder Agreement, these terms and conditions shall prevail in so far as it relates to the Lifetime 4.99% p.a. BT offer.