Citibank: Impose credit card tax on per customer basis

KUALA LUMPUR: Citibank Bhd thinks the service tax for credit cardholders proposed in Budget 2010 should be imposed on a per customer basis rather than per card, mainly because it does not see Malaysian consumers being bogged down by debts, its CEO Sanjeev Nanavati said.

"The government is concerned with encouraging prudent spending among consumers, and rightfully so, but we don't see a debt problem in Malaysia. The tax should be imposed on a per customer basis, per bank, not per plastic," he said.

He said this was especially so since customers were assigned their own credit limit, regardless of the number of cards they owned.

He also said while the overall amount of money spent might not change as a result of the tax, the number of cards in circulation in the industry probably would drop, adding it had already been on a downward trend, although he could not provide specific numbers.

Sanjeev (2nd from left) and Citibank head of consumer markets Fabio Fontainha (2nd from right) at the presentation to the grand prize winners of the Citibank Big 50 contest. Photo by Chu Juck SengAccording to statistics from Bank Negara Malaysia, the number of principal cards in circulation as at end-October was 9.9 million, compared with 9.5 million a year earlier, while the number of supplementary cards stood at 1.3 million versus 1.2 million.

The number of credit card transactions as at end-October rose 6.9% year-on-year to 23.2 million. Also as at end-October, total loans from commercial banks amounted to RM764.55 billion, while non-performing loans for the three months to Oct 31 stood at 2.1%.

Just received my Citibank Shell card statement. Now I know how their rebate system works. The amount of accumulated rebate that can be cleared from your account depends on the amount of Shell fuel you pump. So I got RM50 rebate in it, but I tried pumping RM5 shell, all I get is RM5 rebate cleared. The rest still aint cleared. Sucks as Shell RON95 is the worst among them all. Looks like the timing is right as just confirmed to switch my Alliance Bank Gold card to Younique and therefore can cancel my Citibank card tomorrow. Thanks you Citi for all the rebates and discount that I enjoyed during the 1 1/2 years.

A word of caution on Alliance Younique. I tried calling their CS many times one day and never got through. Worst they put you on hold long enough (and running up your call charges) and then cut you off automatically. So I send them an email saying i can't contact them but they hasn't reply. Furthermore, they don't work 24/7.

Bottom line. If you are overseas and need to call their CS for urgent matter, good luck to you.

The only thing good is their rebates. They have crystal clear rebate tier system and you know exactly what you will get. Unlike others like RHB Travel Money nowadays and your citi. And unlike AMEX, accepted everywhere because it is a MC.

Another thing about citi. I have extremely bad experience with them. They will charge you late payment fee when there are no late payment. Every month!

welcome to the club, im saving this card only since it gives me best value
also true, just don't call during peak hours
don't forget the points, they have cash rebate n everlasting points   

just now went to lowyat to buy some things.. after survey around, I decided to buy from ALLIT Hypermarket..when i proceed to payment counter, i check around the counter table, and realize their notice about additioncal charge for CC are gone.. then I ask the cashier, can I pay using CC without additional charge? she said yes, and I repeat the Q again to double confirm it.. she answered it with YES.. then I paid the item billed RM200++ with my AMEX CC with NO additional charge.. after this, I can happily shopping in Lowyat using CC with NO additional charge!!

is someone reported this thing to Bank, or because the recent announcement from Bank that no shop can charge additional fees to their customer??

now left 2 cards in my hand
will cut another soon

wanted to ask, i print credit report at BNM
shows got 1 MBF show in the system but i didnt get the card at all
will it be charge for the service tax?

RM200 additional charge 3% = RM6

They probably just dont charge u coz its just RM6 becoz if u pay cash they might probably give u discount RM10

Btw, i didnt know ALLIT accept Amex ?

Maybank is giving out Iphone 3Gs for the winner of the credit card contest

Check this out at here

http://www.maybank2u.com.my/mbb_info/m2u/p.../PRO-Promotions

Maybank is giving out Iphone 3Gs for the winner of the credit card contest

Check this out at here

http://www.maybank2u.com.my/mbb_info/m2u/p.../PRO-Promotions

Want to ask how to print or get credit report from BNM - Bank Negara Malaysia? Must go all the way there to print it  out?

Is there another way for us to check our credit status without having to go all the way to Bank Negara? I just want to make sure that I don't have any credit cards under my name that I'm not aware of. One of my friend had cancelled her credit card but this was not updated by the respective bank. She was subsequently blacklisted for her overdue charges ... She only found out about the uncancelled credit cards after going to Bank Negara to check her status.

Maybank is giving out Iphone 3Gs for the winner of the credit card contest

Check this out at here

http://www.maybank2u.com.my/mbb_info/m2u/p.../PRO-Promotions

Is 3 pm to 4 pm considered peak hour?

Want to ask how to print or get credit report from BNM - Bank Negara Malaysia? Must go all the way there to print it  out?

Is there another way for us to check our credit status without having to go all the way to Bank Negara? I just want to make sure that I don't have any credit cards under my name that I'm not aware of. One of my friend had cancelled her credit card but this was not updated by the respective bank. She was subsequently blacklisted for her overdue charges ... She only found out about the uncancelled credit cards after going to Bank Negara to check her status.

If I charge a retail transaction of RM100, do I get 2 entries or 1 entry ?

How about the Ikhwan cards under Maybank Islamic? Can qualify for the contest also? Coz they say there only for Maybankard customers. Should be eligible also right?

looks like I need to use my Maybank card more often
Amex card included or not...under Maybank wattt....

no i don't think so