Free TV & Mobile Phones With AmBank Balance Transfer

Do you know that yoy can get a free Sharp 32″ LCD TV worth RM2,199 or Sony Ericsson W660i worth RM699 or Sony Ericsson T280i worth RM339 FREE as long as you do a balance transfer or QuickCash (a fancy term for cash advance)?

Yes, it’s 100% true and ligitimate from AmBank.

But before you jump into this, be warned that they charge you 8.99% p.a. upfront for two years in advance. What does this mean? Simple…

For the Sharp TV, you need to balance transfer or QuickCash a minimum of RM15,000. This will cost you RM2,697 in interest (RM15,000 x 8.99% interest x 2 years), more than the TV itself.

For the mobile phones, you need to balance transfer or QuickCase a minimum of:
RM3,000 for Sony Ericsson T280i; your interest cost RM539.40, more than handphone price of RM339
RM6,000 for Sony Ericsson W660i; your interest cost RM1,078.80, more than handphone price of RM699

The problem with this package is that you have to pay for the two years interest charges upfront! Interest is charged on the approved amount and not on the reducing debt amount, similar to hire purchase financing for cars!

So don’t be greedy for the gifts if you do not have any credit card debts because you will very well end up paying a higher price. And if you are owing a credit card debt, it’s best to pay them off as quickly as possible for it’s never a good idea to pay such high interest rates. Need advice and help on debt management? Just go to this financial counselling and debt management agency by Bank Negara Malaysia.

So when should you go for this package from AmBank? Only when you are absolutely certain that you need two years or more to pay up your existing credit card debts.