Govt introduce CC service charge from 1997 to 2001 before.... so we wait for it to abolish in 2013 then.

I was hoping they won't even have a chance to abolish it because this plan never really took off

Boy, I want to keep my SCB Just One card because of the 2% to 5% rebate. But alot of merchants don't know how to use this card. Most of them give the card back to me and say "Cannot read". When in fact, the card has both the credit card and debit card combined into 1 card. So the merchant needs to select "credit" to process a credit charge on my card.
So.. thinking if I should keep my SCB card or not.

lol, maybe can organise a mass CC cancellation activity to get media attention...

well we can use credit/debit card combination? but if this policy really gets implemented, i rather cancel all my CCs than let G earn my money, I don't even know where my money will be going to...

Just added a blog post analyzing on our PM's statement on Sunday. Based on my best estimates, most Msians will/should only maintain 2 to 4 cards before the savings from the relief is used up.

I called Maybank and they were asking me to wait for official bank announcement. Also mentioned that RM50 will only be charged on card annual renewal date. If I insist to cancel, must walk in and surrender card

potong or cancel our cards directly means "we would rather cancel our cards than paying m'sia government unnecessary tax"...

after this, maybe they'll introduce more nonsense policy...

such as..

to promote prudent time management, each unit television in a household will be charge rm50/unit/year..there u go...we'll have TV tax !!..to discourage wasting time to watch tv....haha....its not impossible u know....since tv tax been abolished in the 90's....it might come out again under 1Malaysia boss....maybe even more complecated...such as each astro subscriber must pay rm50 per account per your as tv tax...

haih..why la government add burden to rakyat and give lame excuses...

This post has been edited by he-sham: Oct 26 2009, 11:58 PM

lol, anything is possible in bolehland

very easy every time the merchant come back to me and say got problem with my card i just go with them and ask them to show me and i teach them so it went through

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Added on October 27, 2009, 2:37 amso if the renewal date is 2013 then only starting 2013 will be charged annually ?

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Added on October 27, 2009, 2:38 am2013 is general election time so all of u can give our PM your feedbacks

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Added on October 27, 2009, 2:44 amhey i wanna ask if i got the epp plan can i just call to the vendor and say to stop charging to my this cc and to start charging on another new cc ?

This post has been edited by DarReNz: Oct 27 2009, 02:44 AM

lost count of how many credit card I have, some just sit in the drawer and do nothing. Some even have debit amount in it. got to swap once and use it up and cancel it later.

i think i might have to keep 3 cc and 1 sup for my wife. and that cost what? RM175/year poorer..sad..

1 citibank credit card - one for auto debit (points keep forever)
1 shell citibank credit card - petrol
1 HSBC credit card - for spending/oversea trip (why HSBC, cause it's an international bank, no problem using it oversea)
1 sup CC - for my wife (HSBC credit card as well)

sob sob..going to get poorer..

wrong, if you can't change the environment, you shud change the government

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Added on October 27, 2009, 8:12 amit will be charge in your card anni in 2010

This post has been edited by alexwsk: Oct 27 2009, 08:12 AM

Credit card service tax may be absorbed

Banks likely to come up with a scheme for users

PETALING JAYA: Banks are likely to absorb the RM50 service tax on credit cards, considering that they already provide cardholders with rebates worth more than this.


I like this article

Source: http://biz.thestar.com.my/news/story.asp?f...59&sec=business

Well, Citibank is a renowned international bank as well just like HSBC. If you are looking into saving some hard earned money you might want to cancel your HSBC credit card. Contrary to popular belief, credit cards issued by local banks too, are accepted overseas and not just those issued by international banks.

yeah. im just read it.

I told you guys it could happen! I just smiled reading this thread readers reaction to the service tax.

It's just analyst talk with no major feedback or commitments from bank. Damage control maybe?

soon more term n conditions tht we have to complied with in order to get waiver...

Yet another speculation from analysts with none of the actual banks providing credit card services backing their statement but i do hope they are correct. Simply doesn't make sense to charge a service fee to those settle their bills in full each month.

Very recently, Bank of America in the US has started charging annual fees into two supposedly free for life credit cards belong to someone i'm close with. And guess what ? Only those who settle their credit card bills in full each month will be charged annual fees. You see ? Apparently if you are a good paymaster and do not owe any credit card money to the bank they won't like you very much either but it is a suicide mission on Bank of America side And unlike here in Malaysia, canceling a credit card in the US will affect your credit score. So these small group of people can't simply cancel their cards like we can do here when the bank start charging annual fee. I hope banks here won't be so dumb and they will come up with a win-win plan soon should Beban Negara stick their they stinky budget 2010.

This post has been edited by MilesAndMore: Oct 27 2009, 09:01 AM

LOL... This looks like it's going to encourage even more credit spending! What would happen if people who usually don't meet that "certain amount" starts to spend more just to meet the criteria to enjoy the waiver? People spending beyond their affordability, even more credit card debts would arise...

I know it doesn't make sense to get into cc debt just to get an RM50 waiver, but you'll have to admit, there would be some people who will do just that... considering that there are already people who only pays the minimum pymt every month...

This post has been edited by starglazer: Oct 27 2009, 11:38 AM

To control prudent spending on Credit Card :-
0. Push the responsibility to the banks
1. Increase annual income eligibility and age for applying for credit card.
2. Decrease the credit limit to equivalent of monthly salary.
3. Abolish the ease of applying credit card if you are a principal card holder >2 years.
4. Do not hire annoying CC Sales executive at shopping malls/petrol station/...
5. Give better rebates for holders who pay in full every month.

This post has been edited by ronnie: Oct 27 2009, 10:03 AM

Before this lame service tax, in order to waive the annual fee, you need to swipe min 12 transanctions within a year. Then after this lame service tax, you'll need to swipe 24 transactions within a year, or other requirements that need to pay more in order to "absorb" their lost of RM50.

Is it the true way of prudent spending?

This post has been edited by HiT-AbLe: Oct 27 2009, 10:12 AM