American Express Gold Card – planning for my first purchase..

In continuation from my previous American Express Gold Credit card post, I have been in touch with an AMEX personel and I’m now being briefed about the new American Express Gold Credit card and MORE of its benefits.


The card looks good, that’s for sure 😉

But end of the day, I need to justify to myself, why another card??

I have touched a bit of that in my last post. Now I’m looking at the table for the balance transfer feature.

I normally thought balance transfer was a complicated affair. I usually settle my bill in full, and was subsequently told by some business-minded people that it is a stupid thing to do cos I could be “spinning “ the extra cash I have while delaying the payment, and yet still keep myself out of trouble with the banks.

So this new trick I learnt was this.

If I were to buy a GF1, as I have mentioned in my previous post, it would cost me RM3000+- (let’s round it up for easier calculations), for the camera body, a kit/pancake lens, a zoom lens and 8 GB card with 2 years warranty.


Based on the table below given on the American Express Gold Credit card site:


Look at the 3rd row. My purchase is already more than RM1K.

I’m now going to attempt to pay for my camera, in Dec 2011 (if I buy it now in Dec 2010).

So if I pay using my HSBC credit card and then transfer it to my American Express Gold Credit card, I’m getting ZERO % interest for 12 WHOLE MONTHS on RM3,000.

It’s like a loan for free. Obviously I need to pay RM3, 000 in Dec 2011, but the point is, I save RM432.23 in interest if I have paid for it using another credit card & not able to settle in full by the end of the month.

Also, I get a camera for “free” for a year & only worry about the payment after 1 year. By then, I would have sold off the GF1 for maybe.. GF3? GF4? …since the GF2 is coming out in Jan 2011.

Sounds like a perfect deal. Another reason why I’m hoping my application for the American Express Gold Credit card will be approved and I hope it will be soon!

You want it too? Info here:

Note: The ZERO % interest on Balance Transfer is only valid until 30 April 2011.

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