I feel the first cards to react will be those free for life ones as their tag-line is in danger.

1Credit Card? Hahaha maybe CIMB will the first to offer waiver

They should ask BNM to rewrite and tighten the basic rules for credit card application eligibility if they really want to prevent people from getting into too much debt or too much exposure and not by charging us the innocent citizens stupid service fee 

Hi all, regarding CC cancellations, usually how long will it be effective?
Let say I cancel my cards today at bank by filling up cancellation form. Does this mean my card is cancelled starting today? Or bank need few days time to process the cancellation?

better start cutting down CC and dont wait until the last min.

alot of delaying here and there no directions whereby every bank is waiting each one to move.

if cut the last min, there will always have alot of discrepancy or bottleneck here and there eg customer service always engage, cutting of card have to fax over a letter, fax not working, go to to the bank and submit termination of card letter, if sent by post lose and not receive by the bank etc

better cut straight always if the cc is not much of use.

malaysia boleh is always look see look see and waiting  someone to step up and the rest will amend here and there or just follow.

Omg , I still got 4 card with me and I cannot afford to cut it