only the infinite visa but not the debit card rite? can infinite visa be exempted from tax? else i'd like to own one too T_T

This post has been edited by elru: Dec 14 2009, 05:17 PM

You sure? Is this RM50 service tax confirm to be implemented by next year (2010)? I need to know this.

Well it looks certain. This is what I found from public bank and HSBC bank site:

From Public Bank
https://www.pbebank.com/en/en_content/perso...ards/index.html

Special Announcement

Persuant to the 2010 Budget announcement on the RM 50 and RM 25 service tax to be levied on each principal and supplementary credit card respectively, please be advised that:

1. Imposition of the service tax will only be effective 1 January 2010. Kindly retain your card while we await further guidelines from the relevant authorities.

2. Further communication will be made to our credit cardmembers accordingly once guidelines from the relevant authorities is made available

3. Meanwhile, do continue to enjoy the benefits, privileges and peace of mind that PB Credit Card has to offer:
* Attractive discounts and unlimited cash rebates and reward points for retail purchase
* Flexible installment payment plan
* Balance transfer at low rates from 1.5%
* Exciting year-round promotions and contests with attractive prizes and much more!


From HSBC Bank
http://www.hsbc.com.my/1/2/personal-banking/credit-cards

The recent 2010 Budget announcement on the imposition of a service tax of RM50 and RM25 for each principal and a supplementary credit card respectively has caused much uncertainty amongst credit cardholders in Malaysia. This has led to certain credit cardholders deciding to cancel their credit cards.

Before you decide on your next course of action, you may wish to retain your HSBC credit card for the following reasons:

a) the service tax is only effective from 1 January 2010, hence, there is no need to rush into a decision now;
b) we are currently awaiting further clarification and guidance from the relevant authorities. Once we have a better understanding on the impact of the service tax, we will send a communication to advise all our valued credit cardholders accordingly; and
c) you can continue to enjoy our year-round SmartPrivileges, attractive rewards and conveniences as a HSBC credit cardholder :
- Exciting offers & privileges at more than 5000 merchant outlets from dining, shopping, travels, health & beauty
- Balance Transfer with low rates
- Flexible zero-interest payment plan
- Upto 50% discounts from the best restaurants in Malaysia
- 3X Reward Points when shop at Mid Valley Megamall, Gardens and Gurney Plaza

How it would be implemented is not announced yet. But the government is definitely not moving over with the pleas from the consumer and from the banks. They are serious this time.

It might be charged only upon card renewal. Not sure yet. Waiting for the banks to announce after they have sorted out on how the billing process works.

Already cancelled my few cards now left 2 only, the goverment is damn smart they already check with Bank Negara many of card holder owe bank lot of money can not cancel their cards so hv to pay the RM50.00 no choice.

actually i really dont think the RM50 tax on each card is a bad thing.

= =" indeed, cards increase spending power and thus improves the economy.

but then.... nowadays, credit card is really getting out of hand for many consumers. so... i guess everyone having 1-2 or 3 cards would be enuf.

if 2-3 cards is not enuf, i really dont understand, what'cha wanna buy/use with your cards....

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Added on December 14, 2009, 9:42 pmp/s: from the vote. ermm.... i know ther's a CIMB petronas card. but dint know ther's a Maybank petronas card.
i might be wrong though

This post has been edited by ahnien: Dec 14 2009, 09:42 PM

Keep Mbb Amex gold and Alliance Younique,due to reward and cash rebate. Other all cancel it.

Surprisingly Maybank got more than 50% (Maybank + AMEX), tomorrow go add some MBB

i think the best is tax should be imposed from the 2nd card onwards, if it really was meant for the well being of us citizens. but if the only one card also kena, means the government seriously squeezing $$ from us.

Yes, there is a Maybank Petronas card. CIMB and Maybank working together with Petronas. CIMB is Petronas MasterCard and Maybank is Petronas Visa card. It was launched together back in Jan 2008.

Recently they have both launched the Petronas Card Islamic version. Both CIMB and Maybank launch together as well.

Anyway, when I was compiling the poll, for some reason I left out Standard Charted bank. Somehow it just slipped my mind.....or EON bank for that matter.

For those who wish to vote EON bank, Standard Chartered or other bank (Mualamat, anyone?) please vote "OTHERS".

I'm not very sure but I have platinum mastercard and visa which both have access to the lounge. As for the exemption from the service tax I was told by the CS that they will absorbed it

Agreed. Well there are rumours about supp cards service taxes being cancelled but so far no news

You think you can get away with the RM50 govt tax? I know one bank will absorb this tax for their staff only.

Meanwhile Hong Leong bank has given me a pre-approved 5-yr repayment loan of RMxx,000 at 1% per mth (12% pa) in order to retain her customer. Still expensive compare to Overdraft. Talking about curbing prudent spending pulak!

This post has been edited by sco: Dec 15 2009, 07:24 AM

Since the CC tax not clear yet, I decide to cancel it first. Once clear or no tax, than apply again. Nothing to loose.

Keeping MBB Visa Petronas for petrol and DA Mastercard for just in case the merchant need Mastercard ... also both of them free for life no need to call every year to have the annual fee waived

others potong potong potong

Cancelling every card I have
No point I want to save a few bucks per year just to use the money and pay the corrupted gov.

bro citibank and hsbc has the largest CC consumer in msia...you think if 30% cancel their cards will their business effected ?? if they absorb the 50rm charges will it effect them oso ???

Yeah actually now that you mentioned it, it didn't register at first.

What I'm surprised is Citibank not doing well here. I thought Citibank has the largest credit card base in Malaysia?

Come on, no Citibank user here ah?

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Added on December 15, 2009, 4:27 pmThat's a valid point. I didn't look at it from your point of view.

Previously, waive annual fee is easy to do cause it's "paper money" being waived, as in, they don't actually have to pay any one the annual fee.

But if they absorb the Service Tax, then it's no longer paper money now cause they actually have to pay something to the government.

The funny part is when they don't waive/absorb the RM50 service tax, then these banks now become a tax-collecting arm for the government, free service summore... ha!

This post has been edited by barra: Dec 15 2009, 04:27 PM

Yes citibank does have the largest issuer of CC in Malaysia. It's strange that even with the least amount of branches they can still manage haha.

News from The Star: http://thestar.com.my/news/story.asp?file=...&sec=budget2010 11,000,000 credit card x RM50 = RM550,000,000 is a very huge amount of money for the government to swallow. I totally agreed with what you said above, our government now is a bloody hell money sucker this days, everything raise and tax on every credit card including principal card are not acceptable!

BN is nothing more but money sucker! To those who vote for BN earlier and proud of themself, can have a taste of them for sucking your hard earn money now!

I am a Citibank user, contacted them today and they told me that the RM50 gov. tax will start on Jan 1, 2010. They ask me to redeem 11,000 of my points to cover the gov. tax and promise to waive my 2010 annual fee. Well for me, I dont use my Citibank credit card that much so I guess I'll cancel it by this week, the sooner the better for me. RM50 is not a big money but still in this economy recession period, be smart, I prefer to save it for other higher priority expenses than paying the government for nothing loh.. Betul kah?

This post has been edited by buysell: Dec 15 2009, 07:40 PM

Government wouldn't doesn't allow the banks to "absorb" the tax.

This post has been edited by b00n: Dec 15 2009, 07:20 PM