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pay car loan with credit card
  • June 17, 2022
  • Make Payment

Pay Car Loan with Credit Card & Earn Reward Points

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Cars are in some ways necessary in our life. Every day, we commute by car to work or some of us even use it as part of the business. Just like housing loan, we are require to make monthly repayment for our car loan. For some obvious reason, it is a lifetime repayment loan where we are tend to change for a better car depending on different stages of our life.

Most of us have been paying our car loan every month using either our cash we earned from the salary or from doing business. But, do you know that you can enjoy the benefits and rewards when you pay your car loan with your credit card? Sure, you have enough cash to make your loan repayment, but why not you utilize the credit card limit extended to you.

With jomSETTLE, you can earn credit card rewards point when you pay your car loan with credit card. We will only charge you a one-time 2.5% transaction fee per usage, but it is something you can easily offset with the benefits earned.

Learn more: How to Offset Credit Card Transaction fee

Pay Car Loan with Credit Card

The process to pay your car loan with credit card in jomSETTLE is straightforward: create an account with us and select ‘Hire Purchase’ payment type and enter the necessary information along with supporting documents (your car loan agreement). Swipe your card, and we will make the bank transfer to your recipients within 3 working days.

The Benefits of Paying Your Car Loan with a Credit Card

Earn Credit Card Reward Points

  • When you use your credit card for car repayment, you automatically earn the credit card rewards points based on the amount you pay. Assuming that your credit card offer 1x points for every RM1 you spend, and your car loan is RM1000 per month. That’s 1000 points earned every month and 12,000 points over a year. If you constantly use your credit card over the course of two to three years, imagine the amount of reward points accumulated, you do the math. 

    Read here on What You Can Redeem with Your Credit Card Reward Points

Making On-time Payment

  • Just like every other challenges we faced in our life, cash crunch is something inevitable. Ask the most successful person you know today, and they will tell you the same. It’s in this pinch period, you can tap into the immediate pre-approved credit limit to you via your credit card to still pay your car loan repayment on-time without going for a cash advance.

How to Pay Car Loan with Credit Card

  1. Firstly, you can sign up for a jomSETTLE™ account here or log in.
  2. Choose Personal Account or Business Account to proceed. 
  3. Complete a one-time eKYC process for verification.
  4. For Business Account, you will need to include your SSM Document.
  5. To make a Car Loan payment, go to make payment by choosing the ‘Hire Purchase’.
  6. You will need to include documents such as Car loan or Hire purchase agreement from the bank.
  7. Choose credit card payment method and pay with your preferred card. We accept all local and foreign issued card. (*For foreign cards, users must have a Malaysian phone number)
  8. Your payment will be transferred to your recipient account via bank transfer within 3 working days.

Let's Stay in Touch

Get updates on our latest articles

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October 14, 2022
  • June 17, 2022
  • Make Payment

Pay Car Loan with Credit Card & Earn Reward Points

Cars are in some ways necessary in our life. Every day, we commute by car to work or some of us even use it as part of the business. Just like housing loan, we are require to make monthly repayment for our car loan. For some obvious reason, it is a lifetime repayment loan where we are tend to change for a better car depending on different stages of our life.

Most of us have been paying our car loan every month using either our cash we earned from the salary or from doing business. But, do you know that you can enjoy the benefits and rewards when you pay your car loan with your credit card? Sure, you have enough cash to make your loan repayment, but why not you utilize the credit card limit extended to you.

With jomSETTLE, you can earn credit card rewards point when you pay your car loan with credit card. We will only charge you a one-time 2.5% transaction fee per usage, but it is something you can easily offset with the benefits earned.

Learn more: How to Offset Credit Card Transaction fee

Pay Car Loan with Credit Card

The process to pay your car loan with credit card in jomSETTLE is straightforward: create an account with us and select ‘Hire Purchase’ payment type and enter the necessary information along with supporting documents (your car loan agreement). Swipe your card, and we will make the bank transfer to your recipients within 3 working days.

The Benefits of Paying Your Car Loan with a Credit Card

Earn Credit Card Reward Points

When you use your credit card for car repayment, you automatically earn the credit card rewards points based on the amount you pay. Assuming that your credit card offer 1x points for every RM1 you spend, and your car loan is RM1000 per month. That’s 1000 points earned every month and 12,000 points over a year. If you constantly use your credit card over the course of two to three years, imagine the amount of reward points accumulated, you do the math.

Read here on What can you redeem with your credit card reward points

Making On-time Payment

Just like every other challenges we faced in our life, cash crunch is something inevitable. Ask the most successful person you know today, and they will tell you the same. It’s in this pinch period, you can tap into the immediate pre-approved credit limit to you via your credit card to still pay your car loan repayment on-time without going for a cash advance.

How to Pay Car Loan with Credit Card

  1. Firstly, you can sign up for a jomSETTLE™ account here or log in.
  2. Choose Personal Account or Business Account to proceed.
  3. Complete a one-time eKYC process for identity verification.
  4. For Business Account, you will need to include your SSM Document.
  5. To make a Car Loan payment, go to make payment by choosing the ‘Hire Purchase’.
  6. You will need to include documents such as Car loan or Hire purchase agreement from the bank.
  7. Choose credit card payment method and pay with your preferred card. We accept all local and foreign issued card. (*For foreign cards, users must have a Malaysian phone number)
  8. Your payment will be transferred to your recipient account via bank transfer within 3 working days.

Let's Stay in Touch

Get updates on our latest article.

You May Also Like

2023: The Advantages of Accepting Credit Card Payment as a Business

Read More »
February 3, 2023

2023: Why You Should Start Paying Your Business Expenses with Credit Card

Read More »
January 16, 2023

What is a Credit Score and How Does it Affect You?

Read More »
October 14, 2022

MAZER FINTECH SDN. BHD. (1332779-U)

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MAZER FINTECH SDN. BHD. (1332779-U)

A1-13A-2, Arcoris Business Suites, Block A1, No 10, Jalan Kiara, Mont Kiara 50480, Kuala Lumpur, Malaysia.

SOLUTION

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Request Payment

RESOURCES

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Earn Reward Points

Blog

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Help Center

FAQs

care@jomsettle.com

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Terms & Conditions | Privacy Policy
© 2022 Mazer Fintech Sdn Bhd. All right reserved.



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