Restructure Your Credit Card Debt with EPP
Credit Card Debts?
Now You Can Restructure Your Credit
Today!!
For credit card holder inMalaysia ONLY
Important Facts and Figure
1.savings up to 12% interest per annum
2.can settle the outstanding within 3 years
3.allow to pay for the minimum payment
4.referesh record for increasing credit limit
5.can save 6.5% before processing
6.No processing fee
7.100% approval
8.No cash advance fee
9.all repayment deal thru your own bank
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Why Should I Restructure My Credit?
There are TWO MAIN reason for you to restructure your credit:
1.To restructure and REDUCE your monthly commitment
2.To restructure and GET EXTRA CASH as you require
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Suitable For:
Restructure Existing Card Balance to EPP (convert interest from 18% p.a to as low as 6.3% p.a)
CASH Advance (Personal loan) via EPP（NO 5% charge）, good for:
1.Investment
2.Starting a new business
3.Clearing other debts
4.Down payment for buying a car, house or etc.
5.Restructure your balance to Lower Monthly Installments
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Card Holder’s Benefits:
1.Save more than 64% in Interest
2.The Cheapest Unsecured Term Loan in the Market
3.Reduce Monthly Installment Up to 67%
4.Pay as low as RM50 per month only
5.Approval Rate of 100% (Provided Credit Card is not blocked by the issuing bank)
6.Accumulate more Credit Card Reward Point
7.Maintain Good CCRIS Record
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How it is work?
Case Study 1
| Bank Card | EON Bank Berhad |
| Credit Limit | RM20,000 |
| Total Outstanding | RM16,000 |
| Available Limit | RM4,000 |
| Purpose | Restructure credit card |
| EPP Amount | RM18,000(up 90% of credit Limit) |
| EPP Tenure | 3 years |
| Interest | 22% |
Calculation 1
EPP Amount = RM12,000 / (100%-22% )= RM15,384(<RM18,000 so can do it)
Monthly Installment = RM15,384/36 months = RM427 (payment to EON Bank’s direct every month)
Minumum Payment = RM50
Case Study 2
| Bank Card | EON Bank Berhad |
| Credit Limit | RM20,000 |
| Total Outstanding | RM16,000 |
| Available Limit | RM4,000 |
| Purpose | Restructure credit card |
| EPP Amount | RM18,000(up 90% of credit Limit) |
| EPP Tenure | 3 years |
| Interest | 22% |
Calculation 1
EPP Amount= RM16,000 /(100%-022%) = RM20512[> RM18,000 (overlimit), must pay some amount first)
Amount need to pay
= RM18,000 x 22% = RM3960
= RM18,000 – RM3,960 = RM14040
= RM14040 – RM16,000 = -RM1,960 (restructure fee that need to pay to company)
Monthly installment= RM18,000 / 36months = RM500 (payment to EON Bank’s direct every month)
Minumum Payment = RM50
Case Study 3
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Bank Card |
EON Bank Berhad |
|
Credit Limit |
RM20,000 |
|
Total Outstanding |
0 |
|
Available Limit |
RM20,000 |
|
Purpose |
Cash Advance (RM10000) |
|
EPP Amount |
RM18,000(up 90% of credit Limit) |
|
EPP Tenure |
3 years |
|
Interest |
22% |
Calculation 1
Restructure Amount= RM10,000 /(100%- 22)% = RM12,820
Interest= RM12,820 – RM10,000 = RM2,820
Monthly Installment= RM12,820/ 36months = RM356 (payment to EON Bank’s direct every month)
Minumum Payment = RM50
Q&A
Q) How does the Company able to transact or swipe RM18,000 instead the credit limit available is only RM8,000? (Refer to Case Study 1)
A) Eventually the Company will make cash payment direct into your credit card account in order to settle all the outstanding. Once all payment done, the Company will be able to transact the EPP amount as agreed.
Q) Do I need to surrender my Credit Card?
A) Yes, if cardholder’s require for settlement as clearly shown on Case Study 1 & 2.
Q) Do I need to pay and extra service charges, consultant fees, processing fees or any other relevant fees?
A) There is NO any other fees incur except for the restructure fees (RF) and merchant fee of 2.5% if RF pay via other Credit Card.
Q) What is the eligibility to apply and what other information needed?
A) Cardholder's must ensure and provide the following:- i) Credit Card must in active to use status ii) Type of Bank's card iii) Total Credit Limit iv) Total Outstanding
Q) Can I still using my credit card after EPP?
A) Yes. The credit card remain ACTIVE status and the cardholder's is still be able to make any transaction provide there is still remaining credit balance. Doubt the Bank's will actually block the credit limit but will release whenever there is monthly payment made.
Q) What is the different between doing EPP vs Balance Transfer (BT) which offer by Bank's?
A) EPP provides you 'hassle free' application with 100% approval, lower rates, longer repayment tenure. While for BT, the process is detail and for certain Bank's the application is subject to approval and the most important matter is if under BT, the Cardholder's should have another credit card which has sufficient credit limit to perform the BT, otherwise there no way for it application.
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Interest
| BANK | 12MONTHS | 24MONTHS | 36MONTHS |
| EON | 20% | 22% | |
| MBB | 20% | 27% | |
| RHB | 20% | 24% | |
| PBB | 20% | ||
| HSBC | 13% | ||
| HLB | 13% | 22% | 30% (CO) |
| OCBC | 24% | ||
| AMB | 20% | 27% (CO) | |
| ALB | 22% | 32% | |
| SCB | 20% | ||
| CITI | 13% | 33% | |
| CIMB | 13% | 36% (CO) | |
| MBF | 15% (CO) | ||
| UOB | |||
| BSN | 20% | ||
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