If banks understood this, why oh why are they still pushing CC like crazy? Rebates, free gift, free annual fee, bla bla bla. These are the bankers that we had our money inside. They had all the information on our income. Yet they go ahead with the crazy push of CC. They are just interested to make your their slave. THATS IT!!

BTW, it does not take a CEO to figure out that how much sincerety 1Najis has when it comes to the RM50 charges. It aint gonna change anything.

What a brilliant thought! His math phailed.
1. Those paying 27% are earning at least RM100k per year. RM50 is nothing to them. And they get a 1% reduce in tax. ==> how about those low-middle level
2. The RM1000 tax relief, doesn't mean that we have extra RM1000 for spend. It just mean that Rm1000 is exempt from tax.

Say if my current income is Rm2500, with 1 month bonus. Total yearly income is RM32500. The income tax would be around RM539. After the extra RM1000 tax relief, the income tax would be around Rm472. the saving is RM67. If I have 2 card. then I pay more tax..!!

One can't blame the bank should he/she get into too much debt. One makes the choice himself/herself. The bank is not pointing a gun at your head to force you to apply for one of their products. He/She can't blame it on anyone other than himself/herself for being so stupid in the first place.

Providing loan is a bank's bread and butter. It is what they do. What else do you expect them to do ? They want to make you their slaves but then it is strictly on a voluntarily basis.

This post has been edited by MilesAndMore: Oct 25 2009, 11:39 AM

The Rm1000 relief and EPF RM1000 relief is to CATCH UP WITH INFLATION. When was the last time these reliefs were increased? The increments this time is just merely catching up with inflation. It is not something extra, it is not a gift.
The RM50 tax on the credit cards is NEW. Therefore, don't tell us that we get more benefits because.
1. The reliefs were long overdue and just merely catching up with inflation.
2. You impose new tax on us.

Govt now is not stupid. They can manipulate everything. But those who are stupid will trapped with the not stupid decision by govt but those are not stupid will thinks that govt have done a stupid decision.

This post has been edited by hackqym: Oct 25 2009, 12:14 PM

if i want to cancel my credit card, i can just send this letter to their head quater or need to send the letter personally to their branch?

or you can just go to the counter and tell them...

-deleted-

This post has been edited by winner: Oct 25 2009, 12:49 PM

Thx, will check out on that VISA Electron thing but then it would mean opening an account with Public Bank....will consider it nevertheless

Yes, apparently big bro is not very savvy and I don't like the blanket coverage idea at all.....one medicine to cure all illness...that's stupidity

What a big !!!!!


***********************

Sunday October 25, 2009
PM: RM50 for credit card not a big deal[/B]

HUA HIN: Describing Budget 2010 as “painless”, Datuk Seri Najib Tun Razak said the people should not complain about the Government’s decision to impose a RM50 annual service tax on principal credit and charge cards.

Instead, the Prime Minister said they should look at the overall benefits offered by the Govern-ment in the Budget.

“They are getting the RM1,000 tax relief and those paying tax at 27% will now pay 26%.

“So, they get two (relief measures) and only have to pay RM50 (per credit card). Don’t tell me they cannot pay RM50?” he said after a meeting at the 15th Asean Summit here yesterday.

Najib, who arrived here on Friday after tabling the Budget in Parliament, had earlier asked the media on the reaction back home to his maiden Budget.

Our PM blog stating the new budget..

Perhaps go there and leave some comments?

http://www.1malaysia.com.my/index.php?opti...emid=54&lang=en

ME: Yup. I cannot pay RM50. So what do you suggest?

When people start canceling credit card, and bringing cash around them, isn't that even dangerous? Snatch case frequency will increase. And when these over the counter sales center, like handphone, PC, department store, restaurant, petrol station etc will be polling massive amount of cash by the end of the day. Robbery is likely to be more frequent.

Then we curse those thiefs and robbers, but in fact, the main culprit is the one who create such opportunity for this to happen.

Good luck to police department.

We can afford to pay RM50 on fewer cards. Can the banks afford mass-cancellation of cards

I for example is keeping 3 active cards(Master/Visa/Amex) and canceling another 3 dormant cards.

i got 3 cards, cancelling 1 of them end of this year is the RM50 service tax goes through.

edited to add, the increase in deductable for EPF and personal relief of RM1000 each(at 10% tax bracket), theorectically will put RM200 back to the tax payer. The rm200 is supposedly used to offset the cc tax.

all 3 cards active, 1 visa and 2 mastercard, canceling 1 mastercard maybe. I dont apply CC for collection

This post has been edited by ante5k: Oct 25 2009, 02:23 PM

if your 3 cards are dormant, what does the bank lose by you cancelling them?

i cancelled 3 cards...then my auto debit and auto payment die...think will subscribe debit card..bring more cash will kena rob...

just found out the minimum credit limit you can set is 3K. WTFLOL.

we can analyze impact on rm50 service tax per card per year almost in many terms..include socially..when people canceling cc, people will start carry cash..snatch theft & robbery will happen more frequently... our country will back to third world country instead of developing... for me its a backward step.... 1malaysia, rakyat burdened, cronies will gain.... tahniah 1malaysia boss...

If thats your saying, what right does the government has over us that we cant choose for ourself and instead need to be reminded of the fact by punishing us RM50 for each card?

how about free for life credit card, direct access (Master and Visa), maybank petronas card (Visa)? also need to pay RM50 for each principal card and RM25 for supplement card?