ANNOUNCEMENT

COVID-19 Financial Assistance
for individuals

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Credit Card
FAQ
1.  What is the objective of the option to convert credit card/-i outstanding balances into Credit Card Balance Conversion Programme (CCBC)?
The aim of this programme is to provide some relief to individual cardmembers who face temporary financial constraints arising from COVID-19 pandemic. We hope the conversion of the credit card/-i balances into instalment plans will help reduce financial difficulties faced by individual cardmembers during this challenging time.
2.  What is this CCBC?
CCBC enables cardmembers to convert the outstanding balances into instalments (only principal portion will be converted for Islamic cards). If your outstanding statement balance meets a minimum amount of RM1,000, it is eligible to be converted into an instalment plan of up to 3 years at an effective rate of 13% per annum.
3.  Am I eligible for the conversion of my credit card/-i outstanding balances into CCBC?
Category A : Opt In to Apply
You are eligible to apply if you fulfil the following criteria:
a. Minimum credit card/-i statement balance of RM1,000; AND
b. your credit card/-i is in arrears for less than 60 days.

Category B : Automatic Conversion
If your credit card/-i is in arrears for the last 3 consecutive months as at 1 April 2020 (i.e. 60 – 90 days in arrears), we shall automatically convert your credit card/-i balances into CCBC for 3 years at an effective rate of 13% per annum. No application is required.
4.  How do I enrol to this programme?
Applications are open from 1 April 2020 till 31 December 2020. If you wish to apply for enrolment in this programme, please complete the following e-Form here.
5.  What if my credit card/-i is currently in arrears > 90 days, am I still eligible?
You are not eligible to convert your credit card/-i balances to CCBC as your account must not in arrears exceeding 90 days as at 1st April 2020.
6.  I am currently paying my credit card/-i promptly and I do not want to opt for this CCBC. How can I continue servicing my credit card/-i as usual?
You may continue to service your credit card/-i payment as usual. No other action is required.
7.  If my credit card/-i outstanding balance is converted to CCBC, can I still use my credit card/-i?
Yes, for Category A customers you can continue to use the credit card/-i up to the remaining credit limit after taking into account the balance converted into a CCBC. The outstanding balance converted into the CCBC is treated as part of the credit card/-i limit. In addition, the monthly CCBC instalments form part of the minimum monthly payment amount.

For Category B, you can continue to use the credit card/-i up to the remaining credit limit, with condition that you continue to serve the minimum monthly payment.
8.  If I decide not to convert now, but decide to convert in the future, what should I do?
Please contact our Customer Contact Centre at 03-9206 8118 to apply, or submit the online e-Form within this programme period.
9.  Can I fully settle the CCBC before its maturity?
You may settle the CCBC at any time without any early termination fee. The remaining outstanding balances will be charged in full and will appear in your next credit card statement.
10.  Can I choose other conversion plans if my credit card/-i outstanding balance is being automatically converted into CCBC?
No, there is only 1 plan for auto balance conversion which is 3 years at an effective rate of 13% per annum.
11.  I had previously converted my credit card/-i outstanding balance via Auto Balance Conversion Plan (ABC), can I convert my current outstanding balance into CCBC?
Yes, you are eligible to convert your current credit card/-i outstanding balance into CCBC.

Note: The current credit card/-i outstanding balance does not include any unbilled instalment balances (if any). This means any unbilled instalment amount will not be converted under CCBC and will continue to be billed as usual.
12.  I have opted-in / applied for the CCBC, when will the conversion start?
Upon successful of conversion into CCBC, the instalment will be reflected in your next credit card/-i statement.
13.  What will happen if I cancel my card?
Upon cancellation of your card, your CCBC will be terminated and you will have to pay the total outstanding balances which includes the principal and interest/actual management fee as final payment.
14.  If my credit card/-i outstanding balance is converted to CCBC, will my CCRIS records be adversely affected?
No, as long as the minimum payment has been paid by the relevant due date. However, if your credit card/-i is already non-performing (in arrears for more than 90 days), this will continue to be reflected in your CCRIS record.
15.  I have instalment plans (eg. Easy Payment Plan (EPP), Balance Transfer, Cash Xcess, Dial-An-Instalment) under my credit card/-i, can I convert all the balances into CCBC?
No. The conversion into CCBC applies only to the outstanding balances that are already billed in your credit card/-i account (excluding unbilled instalment amounts).

For example:

Balance Transfer Outstanding Balance : RM6,000
Balance Transfer Monthly Instalment : RM1,000
Balance Transfer Remaining Monthly Instalment : 6/12

Credit Card/-i Statement Balance
Retail Spend : RM3,000
Balance Transfer Monthly Instalment 6/12 : RM1,000
Total outstanding Balance for Conversion : RM4,000

Note: The remaining outstanding balance of the Balance Transfer that is yet to be billed is not eligible for the conversion. The monthly instalment of RM 1,000 will continue to be billed in your upcoming statements and payment must be paid accordingly.
16.  Can I request for 6 months deferment right after my credit card/-i outstanding balance is converted into CCBC?
The deferment will only apply to the amount converted by the CCBC on a case to case basis. You are required to contact our Customer Contact Centre at 03-9206 8118 or email us at customers.service@rhbgroup.com within the moratorium period to make your request.

The instalment repayment will resume after the deferment period.

For Category B, you will not be able to use the credit card/-i during the deferment period.
17.  After converting my outstanding balances into CCBC, do I still need to make monthly payments?
Yes. You have to continue to pay the minimum payment due in the event of any new outstanding balances billed to your credit card/-i. Any unpaid minimum payments in this scenario will contribute to your delinquency status and in turn affect your CCRIS rating.
18.  After the first automatic conversion, if I am unable to meet my credit card minimum repayments again, will I be automatically enrolled into the CCBC again?
No. The automatic conversion into instalment plan will only be done once during the period from 1st April to 31st December 2020.
This is a non-automatic deferment.

Convert your credit card/-i balances to
Credit Card Balance Conversion (CCBC)
by filling up the form here.

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