This post is created to address the cash flow issue that some RUMAWIP buyers have when it’s time to pay legal fees required (when bank is unable to finance) or fork over money to renovating their RUMAWIP. This approach will only work if your CCRIS is in good working order. To begin, if you are applying for a housing loan, please do so after your application has been approved and the letter of offer has been received, or it may have a negative impact on your housing application (exceed DSR during mortgage application).
Using Credit Card Balance Tranfer
Say you have a Credit from Bank A with zero outstanding.
Google out all the balance transfer option in the market, most of the time you will be able to find bank’s promotion on credit application for new client with 0% interest offer on balance tranfer. Apply for that credit card.
When it is approve, call in for the balance transfer and request the amount you need to be transfer into your credit card from Bank A.
When the funds are transferred to your existing credit card, you can contact your Bank A call centre and request that the extra funds be transferred to your personal account.
Please take note that if you miss up the payment, YOU WILL BE CHARGE 18% PER ANNUM by the bank. It is advisable that you do not use the new credit card until the Balance Transfer offer is paid up. During application for this, best find out on are you allow to use the new credit card without being charge of interest before paying off the balance transfer!
From the 1st of January 2023 to the 31st of December 2023, RHB is giving a deal to new credit card applicants: 0% Cash Excess for a maximum of RM 30,000 over 12 months (draw money from the credit card without interest or the hassle from the suggestion above) This subject to bank’s approval.
Elijah is an esteemed real estate agent who has dedicated his expertise to the RUMAWIP program since 2018. With a reputation for unwavering honesty, he navigates the real estate landscape with straightforwardness and analytical insight. Alongside his role as a real estate agent, Elijah shines as a marketing consultant collaborating closely with RUMAWIP developers. His dual perspective and commitment to affordability make him a trusted figure in the industry, consistently guiding clients and stakeholders toward informed decisions and successful outcomes.
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