The title is changed. But I do not see the need to be pinned/sticky as it's all going to pass soon. It's only a hype at the hour.

As for me, I never hold so many cards and I never also advocate ppl to hold many cards. I only have 1 HSBC master and 1 Citi visa; so nothing for me to cut.

Alright....poll reset as it might not be accurate because of the previous wrong poll topic.

Feel free to vote again

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.

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

The other banks had already lodged a complain against MBF (few weeks back). Let's just wait and see....
EON bank also follow suit on their BT promotion although didn't "published" the RM50 publicly like MBF, they have such clause in the small print implying that also.

But as far as I know, the government rejected a few proposals by association of banks which is:
1) RM50 to be charged upon card holder and not number of cards with the reason one may hold 2 cards but it's a combined limit, so why charged twice.
2) Supp card shouldn't be charged as it is taking on the main credit line and mostly used for emergency spending i.e. kids, spouse etc..

Also, the government is thinking of charging commercial cards which is ridiculous.

The latest news/rumours I heard is BNM had give the go ahead for banks to absorb. Not sure whether or not it's legit news yet because it's still not announced.

So just treat this piece of news as rumours for now.