I recently ask the bank for my housing loan status and was rather pleasantly surprised by the frank advice given.  Well, I was asking how can I lower my interest rate though I am still in the bonding period.  The reply was write to the bank and most likely the bank will consider my request.  However, there is usually a “penalty” comes together with the new offer, and the trick is, write to the bank again and the bank may gives a discount on the amount of the “penalty”.

The key takeaway is that banks generally do not tell you what they can do for you! You have to ask.  Pending on your record, and how desperate the bank want to keep you (It is a shopper market now), you may get what you asked for.  No harm isn’t it?

Not sure where to start looking?

Read the rest of this entry »

Popularity: 17% [?]

Do you like to settle your housing loan faster by paying it with a 0% loan?

Well, you can do it by arbitraging the 0% credit card balance transfer. To be sure, there is a limitation on how this can be done, and most importantly, it must be done with utmost finance discipline and a meticulous transaction record keeping.

Here is how it can be done

First, you charge all your daily necessary living expenses, the must have, into your credit card. Take note on the word “daily necessary living expenses,” it means the essential expenses only, not self-indulgence shopping spree. You than make a balance transfer – select only those with 0% interest.

Read the rest of this entry »

Popularity: 24% [?]