i'm gonna keep my amex charge card. the rest cc will cancel.

will subsribe this new Maybank Cherry Platinum Debit Card

I have 8 cards, now already make decision to cancel at least 5 cards. Still need to came out RM150 per year. owch. The last 3, were SCB Just One, AMEX Gold CC & CIMB Petronas.

I got DA + MBB Petronas + last day get d AMEX,

I think mosly will cancel MBB petronas

A newspaper reported that the government has issued a notice that banks are not allowed to absorb the service fee on customers' behalf as this totally contradict to the government's objective by imposing the service fee which makes total sense.


Second that.


You will need to pay RM150.


No. Because CIMB and DA are easy targets

This post has been edited by MilesAndMore: Oct 26 2009, 10:33 PM

For people who cancel their credit card and borrow from along because of the RM50 are plain stupid

I don't think that the bank is going to absorb the service fee for all of its customers (even if they are allowed to do so), and also why would this be contradicting the government's objective???

you impose fees to encourage prudent spending?

This post has been edited by ketnave: Oct 26 2009, 10:18 PM

I don't think it is wise to hope that the bank will absorb the service tax. Comes 1st January 2010, all principal CC and charged card will be taxed RM50 and you won't get even a single sen refund if you cancel the card on or after 1st January 2010. So if you do not need the card go cancel it in December 2009 and pay up all outstanding balances including installements.

I myself will be cancelling 7 CC where I hardly use

DA MC Plat since I have WMC and VI from them
Maybank Petronas Gold and Petronas Plat (yah I have 2 active MBB petronas CC). Not too bad if DA still give 2% at Petronas.
UOB MC Plat - got the card as few years back had to charge 6 times to both MC and Visa to get annual fee waiver but this policy no more.
Citibank Clearcard - no more discount at coffebean or dome for years now so don't need the card
PBB Visa Plat never used it as not many discount.
HSBC Visa Plat

Keeping 7 Cards that would cost me RM450 incl 4 supp cards

AMEX Charged Card as I get 3X Turbo Points for any transactions
AMEX Gold CC for 5X reward -I can see my points accumulate damn fast with this card as I burn a lot of fuel
Alliance Visa Plat since get cash back up to RM68 per month
UOB Visa - my first local issued CC back in 1991 and got too many auto debit with them so lazy to cancel
HLB MC Plat - I like their service, and long ago there was a fraud involving my card and had no problems with HLB and did not even had to pay a single sen.
DA WMC and VI for their discount and rebates. However if after January 2010 they cancel the 2%-5% rebate then too bad for me. But one thing for sure is CIMB/DA gift are guaranteed if spend a certain amount unlike others where gifts are limited.

Bcos najis & Cxmb's ceo r heng tai mah!!

..yeah, agree 100%!

some reactions are overboard, penny wise pound foolish...

Speaking of charge card. It doesn't make any sense why would they also want to impose a service tax on charge card. I mean they did say the reason they are going to tax our credit/charge cards is to encourage prudent spending as well as so we will not run into financial ruin, correct ? Most charge cards holders are those who pay in full and promptly every month. So why would they want to tax charge card too ? Whoever involved in proposing this idea must be delusional.



It's either you quoted the wrong guy or you do not understand what i wrote in my earlier post. You might want to re-read it again

Huh ? First of all, i wasn't the one that said we should impose service fee to encourage prudent spending. It was our 1PM.

The main reason the government is imposing service fee on each credit card is to encourage prudent spending as well as to limit their potential debt exposure, so 1PM said on last Friday. If banks can absorb the credit card service fee on customers behalf then all this would have lost its meaning already which is why the government said banks are not allowed to absorb the service fee.

This post has been edited by MilesAndMore: Oct 26 2009, 10:47 PM

Will paying rm50 per card make us prudent spenders ?
Those with 0% installment cannot pay up earlier (within 3 months) because banks will charge ?%

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Added on October 26, 2009, 10:56 pmRM50 x 11 millions = RM550 million in additional govt funds... let's hope they have better build better LRT stations.

This post has been edited by ronnie: Oct 26 2009, 10:56 PM

Yeah, for me if Digi auto billing can accept Amex, I'll surely keep my Amex gold. But now really tough decision. I really like Amex gold too. But not much merchant accept it.

I'm wondering how they will charge the RM50 CC tax. And also what will happen if someone choose not to pay it, like those never pay their traffic fines...

Then you pay 18% p.a. interest on the RM50 service fee. which makes more people in debt

Yeah, I have a feeling if we all moved from credit/charge card to debit card, G will find way yo tax debit card too...

I there's still no better way to overcome this RM50 tax, I hope banks will focus on debit card and allow debit card to have about the same benefits as credit/charge card. Like 5x points for petrol and groceries...

If we cant change the environment, we should change ourselves...

rm50 is only for one card per year....majority of cc owner usually have multiple cards....so its not rm50 only case u know...usually credit card balance transfer that worth subscribing is something around 24 or 36 months.... so it's 3 years tenure which is rm150 service tax fee for each card....

but again, its as i mentioned earlier, it's just only the thing that "might" happen....not neccesserily or definately will happen..at the end of the day its depend on the consumer financial management...

so dont look this as rm50 only case....if rm50 per person (card owner) regardless how many cards they have, then i'm pretty sure we all will have no complain.....but bear in mind, it's per card per year....its not just rm50 only case...

Mostly and the easiest way to impose this policy would be asking the bank to collect for goverment, which is this will appear at the monthly statement

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Added on October 26, 2009, 11:12 pmwe cant change the environment, but we can change the government. we are the one who decide on the policy.

This post has been edited by hebe87: Oct 26 2009, 11:12 PM

I think as rakyat, we can do sometime to stop this. Perhaps a mass petition to stop this? Or we can mass cancel all of our credit cards and kill our credit card industry?
I believe if we make it serious enough, bank or G might re-consider... unless they don't really care, then what we can do is move to debit card...

not that easy to kll credit card industry. i bet many ppl out there will still keep at least 1 credit card. the benefits of having credit card outweight the rm50 service charge/tax.

unless u holding multiple cards, dats the different story

A massive cancellation will certainly trigger the alarm and the Malaysian banking association will start to do something to save the huge credit card industry in Malaysia.

There certainly is a chance for BN to revert this ruling. I mean given their track record in decision making, this is certainly possible


Keeping only one credit card is not exactly wise as you always need to have a backup card. What if you suddenly need to pay for a RM20000 goods and you only find out there is something wrong with your only credit card's chip and you do not have enough cash ? What if there is no ATM or bank nearby ? The government is really making our life tough as if it is already not tough enough




This post has been edited by MilesAndMore: Oct 26 2009, 11:29 PM