Awesomeness.

I think bank wont hear folks at this forum. Bcoz majority of CC holder here pay in full. Furthermore, bank loose so much to pay rebates/points/cash back etc bcoz they cannot gain interest from the folks here. All folks here will not enjoy all the gift from bank bcoz there are start to cancel their CC. Thats why they are angry with govt. And the RM50 tax is not targeted to people who pay in full and hold so may CC bcoz definitely they will cut their CC. But people that trapped with debts, ezy payment etc. will benefits to the govt since they are not able to cut their CC.

Furthermore, i think this is past long term strategy between Bank Negara & Banks. If u revise the fact, the FFL Cards boom since last 2 years and people will start collecting the CC. In addition, Association of Bank start to introduce tier interest which is among the lowest in ASIA country. Hence, the possibility people to gain more debts is very high bcoz they hold to many CC. After bank got the statistics, then 2010 is a good time to impose CC tax since people in debt will hardly to cut their CC. At the end of the day govt+bank will share the profits. Bank gain interest, govt gain tax! Very good 'Pakatan Rakyat' of the bank and govt.

Just my 2 cents!

guys, i think there is a bit confusion here. i was told by one of my manager that we shouldn't cancel off all the cards first before reading or finding out the terms and condition applied on this rm50 issues.

He said he was listening to 9.88 myfm after the budget was announced. One of the tax exemption expert said that rm50 tax commence on January 1st of 2010, so whoever "apply" or "renew" their credit card starting next year will be charged rm50 per card.

So lets say i got 4 existing cards and the expiry date is on 2014. Because i did not apply or renew my card on next year,2011,2012,2013, so i do not need to pay the tax for the 4 existing cards which are going to expire on 2014. Let say it is 2014 now, 4 of my existing cards are expiring and i made my decision to renew all the 4 card so at that time i will be charged rm200 for the 4 cards.

Hmm, this is the explanation given by him to me not sure correct or wrong. I do not have any source on this and You guys should go and find out the truth based on real facts. gl man.

i think u get it wrong on the "renew" term ... it means tht next year u will kena the rm50 tax when the annual cycle finished ... look at your card which stated since 10/09 .... means u will hafta pay your annual fee every oct on the coming years ... since u already been given a FFL cc so the service tax will charged to ur cc on tht particular mth ....

it doesnt charge every cc on the 1st of january but definitely latest by the 12th month of the cc annual cycle .... if they onli charge when u change a new card ... everyone will call up the banks n asked for a new card now liao ....

very hensome statement.. hopefully not a 'gula-gula' to chill all the CC holder....

the "Sudah Potong" theme for Wimax is more appropriate here.. how come Msians like no feel towards this stupid tax one?? sighh..

cancel your c?mb credit card now to save the world. if 50% card holder cancel within 2 months. we are safe.



Let us make the change together.



Kinly post to all the forums.

This post has been edited by eddiekoo: Oct 27 2009, 11:59 AM

Erm ... Excuse me ? Banks such as OCBC Bank and Maybank have both said they do not they it is a good idea to impose RM50 as service tax on credit card. You might want to dig out some old newspapers to read.

dont know where is my HLB cc
will they need my card back when cancel?

no, just call or fax to cancel

if they need ur cc, u can report the loss of the card then apply a new 1 and then cancel and surrender the card lor.

if lost,
need to pay penalty wo


i got 2 HLB.
Manage to find the MTV, but the other dunno where

just report loss and ask not to reissue and want to close/cancel instead

wait for them to charge then only cancel or what?

what if they have charge then only cancel, will the credit card holder bear the Rm50 charges or not?

guess there is still some confusion on the renewal date then only get charged, hope it gets cleared out soon

although is ur 2 cents....

1) if u set a policy, u go against it urself, where is ur credit left....how u get ppl trust u then....
realistically, yes, ppl who stuck and keep owing bank is the one who keeping the bank got more income on paper....
but theoretically, waive the fee for spender who cant even clear their debt and impose onto those who cleared and managed well already against the policy... that is stupidity 1

2) spending behavior of ppl is the cause that drive the bank for keep promoting the cards....
simple, if u can control urself from over spend, how can bank get u over debt, and gov charge u...
do not blame others for making u into debt when u r the one who choose to spend

currently, no service tax, still got all the rebates. money back to customer.
later...got service tax, rm50 to gov, if got balance of those rebates, then money back to customer.

we spend, gov get the rebates.
easy money!

brilliant idea!

You only need to call them up and tell them you want to cancel both cards. Just tell them you have misplaced the cards if you can't provide them the credit cards numbers. They will still be able to cancel the cards for you. Done this before. Albeit with a different bank.

hi guys. i have cimb mastercard, rosak already. i contacted customer service, he said
"Please be informed that for the replacement of the credit card, in the process of the replacement, the existing credit card will be blocked and the new credit card will be issued. You had to notify the merchant personally on the new credit card number for any auto bills charged to the credit card. "

1. so, does it means i wont get my old number?

2. what's the process to replace the card? do i have to go to any cimb branch to return the damaged card? or i need to go to card centre at damansara?? so far meh!!

3. if i want to update my billing address, can i do that just by simply calling the card centre?