One good site to add from http://www.bankinginfo.com.my
KNOWING YOUR CARDS (pls spend some time reading it up, especially for first time card user)

1. Visa
2. Mastercard
3. JCB
4. AMEX - Charge or Credit Card
5. Diners Club
6. China Union Pay(中国银联)
7. Etc.

1. Annual fee matters

No need to request for waiver
CIMB Direct Access Platimum and Gold - requirement Professional/Graduate. ---> http://www.directaccess.com.my/index.php?tpt=cimb_da
UOB Platinum - swipe 12 times for each card or if have both MC and Visa swipe 6 times for each card
Alliance Platinum - swipe 12 times a year or spend RM5,000/year.
RHB Evo - got to swipe once a month or RM8 is charged for that month.
OCBC Platinum Robinson - swipe 3x any amount even few ringgit also can at robinson from month on card expiry not following year basis. This card no longer issued.
(http://www.ocbc.com.my/personal-banking/Ca...Privileges.shtm)
MBB Flex -got to swipe twice a month or else charged RM3.95
Citibank Choice - 2 transactions in a month
CIMB Mastercard Paypass - free for life without conditions
American Express Gold CC
MBB Petronas

2. Tap and Go - no signature required matters

Visa Wave - MBB, UOB
Mastercard Paypass - CIMB, CIMB DA, CIMB Islamic ---> http://www.mastercard.com/sea/personal/en/...rd/paypass.html
Visa payWave - MBB Petronas, EON, MBB Petronas Ikhwan ---> http://www.visa-asia.com/ap/sea/cardholder...a_paywave.shtml

Paypass limited to RM120
Visa Wave limit should be RM150

3. Credit Card linked to Petrol Giants

BHP-UOB
Shell-Citibank
AMEX charged card gives rewards point (presently 2X if got Turbo 3X) for pumping petrol at ALL petrol stations.
Petronas-MBB Visa Gold with payWave (free for life with no conditions) ---> http://www.mymesra.com.my/index.php?ch=mm_...omo_promo&ac=75
Petronas-CIMB Mastercard Gold (free for life) ---> http://www.mymesra.com.my/index.php?ch=mm_...omo_promo&ac=75
All petrol brands with CIMB DA Mastercard with rebate up to 2% monthly and 5% on the first day of the month.
Petronas-MBB Ikhwan Visa ---> http://www.mymesra.com.my/index.php?ch=mm_...mo_promo&ac=123
Petronas-CIMB Islamic Mastercard ---> http://www.mymesra.com.my/index.php?ch=mm_...mo_promo&ac=123
AMEX credit card & charged card including Platinum generally offer 2X MR/TP at ALL petrol stations that accept AMEX. Only AMEX GOLD credit card offers 5X MR.

4. Standard financial charge (interest rate)

Malaysia had adopted tiered pricing interest rate: BNM Press Statement
18% p.a. (now, most bank had adopted 17.5% p.a. starting Apr 09)
17% p.a. (now, most bank had adopted 16% p.a. starting Apr 09)
15% p.a. (now, most bank had adopted 13.5% p.a. starting Apr 09)

Cash advance: 18% p.a from the date of withdrawal.
Late payment: 1% of outstanding or RM 5 whichever is higher.
Minimum payment amount: 5% of outstanding or RM 25/RM 50 whichever is higher.

5. Complementary Cards

1) Citibank - Just deposit and maintain RM200k
2) UOB - Opening deposit of RM300k with maintenance of RM200k
3) Standard Chartered - Deposit & maintenance of RM250K effective 1st April 2009
4) OCBC - Opening deposit of RM300k with maintenance of RM200k
5) HSBC - Deposit & maintenance of RM200k
6) HLB Smart Link Account - Complimentary Hong Leong Gold Credit Card* Enjoy zero annual fee for life when you maintain a monthly average balance of only RM500 in your Hong Leong SmartLink Account.
*Valid for principal accountholder only. Subject to eligibility and the bank's final credit evaluation.
http://www.hlb.com.my/pfs/dep/depsmacc.jsp?flag=depsmacc

6. AMEX ---> http://www.americanexpress.com.my/amx_info...fo/home/home.do

A - Charge card

AMEX charged card gives rewards point (presently 2X if got Turbo 3X) for pumping petrol at ALL petrol stations.

B - Credit card

With the newly launched AMEX Gold Credit Card:
5x Membership Rewards points for every Ringgit spent on groceries, petrol, bookstores - Kinokuniya, Borders, Times and MPH - and telco charges via Express Autopay -Celcom, Digi, Maxis and Telekom.
2x Membership Rewards points for all spend elsewhere.

C - Ikhwan AMEX (upgraded feature)

5x TP on petrols.
2x on other retail swipes.

Link to AMEX thread: http://forum.lowyat.net/topic/547867

7. International Transactions

Mastercard and Visa charges a surcharge on top of the exchange rate. The banks also choose to charge an additional administration charge on top of that

Maybank: 0.5% -->verified by Hye

CIMB/DA: DA - 1% (starting April 2009 - by hye)

Hong Leong: 1%

PBB: 1.25% (thanks to the link by prasys)

http://www.pbebank.com/en/en_content/perso...ates/cards.html

Citibank: 1% --> verified by tinkerbel

HSBC: 1% --> HSBC will also charge a Misc fee; bank isn't able to provide details on what that is but according to CS whom I spoke with, there's a small misc fee. (contribution by Tinkerbel)

EON: 2%

UOB: 1%

Standard Chartered: 1%

AMEX card:  2.5% (Item 13.5 of the T&C)

OCBC bank: (provided by kei18kun)
overseas transaction 1%
http://www.ocbc.com.my/personal-banking/Ca....shtm?bcid=M5_1

Alliance - Nil as of 18 Dec 2009 and get 2X reward points.

8. Credit Card Cancellation Letter

9. Cash Advance fees

Citibank: 5% of cash amount (min RM20), and 18% p.a. daily interest (N/A for Ready Cash)

UOB: The cash advance fee is charged to any withdrawal of cash made. This is imposed for each cash advance transaction. 5% or RM20, whichever is higher.

Maybank: VISA/Mastercard (Both Classic and Gold) | Flat rate of 5.00% of the total amount of cash advance | Min: RM10

CIMB DA: 5% of the amount drawn, subject to a minimum of RM15, whichever is higher.

CIMB: 5% of the amount drawn, subject to a minimum of RM15, whichever is higher.

HSBC:
The cash advance fee is 5% of the amount advanced or a minimum of RM15. Whichever is higher. This is imposed for each cash advance transaction
For HSBC Amanah Charge Card, cash advance is capped at RM1,000 per transaction and a fee of RM60 per transaction will be levied
For cash advances made over the HSBC banking counter, there will be an additional charge of the following:-
- RM50 on credit cards issued by local banks other than HSBC - RM20 on credit cards issued by non-Malaysian card issuers (including JCB)
- Cards issued by HSBC Bank Malaysia and the HSBC Groupare exempted from this charge

OCBC: The cash advance fee is 5% of the amount advanced or a minimum of RM15, whichever is higher. This is imposed for each cash advance/casino chips transaction.

10. Verified by Visa and Mastercard Securecode

Verified by Visa ---> http://www.visa-asia.com/ap/sea/merchants/...vbv_intro.shtml
Participating banks: EON, MBF , HSBC, PB, MBB (MSOS), CIMB, SCB, HLB, RHB, Alliance

Mastercard Securecode ---> http://www.mastercard.com/au/personal/en/c...code/index.html
Participating banks: EON, MBF , HSBC, PB, MBB (MSOS), CIMB, SCB, HLB, RHB, Alliance 

11. Balance Transfer: http://forum.lowyat.net/topic/1123346

12. RM50 Government Service Tax

1. MBB: 10000 TP for RM50; 5000 TP for RM25
2. As of 18 Dec 2009 according to tgeoklin, banks willing to waive RM50 UOB, SCB and HSBC on case to case basis.
3. As of 18 Dec 2009, what I was told - UOB gives Smart$ Points RM50 if accept their promotion (a) swipe 3 times above RM100 within 14 days or (b) do Balance Transfer or © activate 2 or more auto debit account. For my Visa I went with (a).
4. I cancelled my UOB Plat Mastercard card and was offered the RM50 tax if sign up for 2 auto debit account which I declined. tgeoklin on the other hand was offered the RM50 tax waiver for his UOB Plat CC with CL RM1K

Comparison chart by The Star Online:


13. Previous versions

Credit Card V2 Thread: http://forum.lowyat.net/topic/594906
Credit Card V3 Thread: http://forum.lowyat.net/topic/691229
Credit Card V4 Thread: http://forum.lowyat.net/topic/741933
Credit Card V5 Thread: http://forum.lowyat.net/topic/842676
Credit Card V6 Thread: http://forum.lowyat.net/topic/953666
Credit Card V7 Thread: http://forum.lowyat.net/topic/1069190
Credit Card V8 Thread: http://forum.lowyat.net/topic/1250745

14. Useful information

BNM issued guidelines in 2003 that limits consumer liability in cases of fraud to only RM250. See the actual document here, page 123 has the guidelines. (Courtesy of tishaban) (thanks awaynoway for the updated link))

Credit information:
CCRIS: http://creditbureau.bnm.gov.my/
CCRIS report - go to Bank Negara yourself and use self-service terminal to get report with MyKard (you need to go as need thumb print).
CTOS: http://www.ctos.com.my/
BRIS: http://bris.com.my/index.html

15. FMB - Financial Mediation Bureau
http://www.fmb.org.my/index.htm

16. AKPK - Agensi Kaunseling Dan Pengurusan Kredit | "We understand what you go through when you are financially distressed"
http://www.akpk.org.my/Home/tabid/36/Default.aspx

Financial Education | Financial Counselling | Debt Management

Link to AKPK thread: http://forum.lowyat.net/topic/876712

17. Other Links By Users
Quite informative blog with links provided by Gen-X:
http://creditcardsmalaysia.blogspot.com/20...rds-cc-101.html

i wonder PBB sent me Personal Indentification Number for what purpose

so u can make cash advance from ATM

juz for that purpose?

Does it work the same like CIMB whereby in order to tie the PB CC to PBebank, one need to request for first time login from ATM?

What do you expect these banks to say? "We have significant number of card cancellations"? Of course all these banks will say, "Not much impact or cancellations" because if Bank A says they have a lot of cancellation, then the rest of cardholders from Bank A will wonder, "Why so many people cancel card from my bank? Maybe other banks offer better deal. Maybe I should also cancel."

The 8TV 8PM Chinese news reported that the tax will only be charged on every anniversary. Let say your credit card expires on 5/12, it means that the RM50 and RM25 (if applicable) will only be charged to your account in May next year.

wan cut off all...

Let's not be hasty, consider carefully before cutting IT off, later regret for life 

Got an SMS from HSBC this morning to call one Ms Sree regarding my credit cards. She wanted to check if I bought diamonds in Canada, to which I said no. She then told me to stop using my Visa Platinum and they'll courier down a new one for me on Monday.

That's what I love about HSBC credit cards.

but why don't tell call u instead

but why don't tell call u instead 

Let's not be hasty, consider carefully before cutting IT off, later regret for life 

will not regret for life la

---

Added on December 19, 2009, 10:15 am

but why don't tell call u instead 

Probably because the transaction took place at odd hours - I got 1 ring last night from their number ...think they realized it's probably a fraud and if so, I'd likely be sleeping at 1:30am.

Anyway, Ms. Sree didn't ask for any personal information at all. I just gave her my name and she asked me about those transactions, i.e. nothing about my card number, etc.

Actually, I'd prefer to call them than they call me because they chance for fraud is lower - I have they're number and they're unprepared for my call.

lol, can reapply again mah if really need 

Unless it is something as precious as SCB JustOne, you won't be able to get it again as SCB no longer accepts new application for this card and its reissue has been postponed to an indefinite date.

Not to mention some seemed eligible for it but was turned down by Standard Chartered. Very lucky for those who have the best card in Malaysia 

Not to mention some seemed eligible for it but was turned down by Standard Chartered. Very lucky for those who have the best card in Malaysia 

its a great card, however its also a little "too advance" ahead of our time. here is a blog about Just One card and at the bottom will come across a comment of one unhappy user, but i suppose its no big deal.Just One Titanium Card

well, we are aware of this, yet not going to cancel the card

its a great card, however its also a little "too advance" ahead of our time. here is a blog about Just One card and at the bottom will come across a comment of one unhappy user, but i suppose its no big deal.Just One Titanium Card

HSBC UK has started issuing such card a few months ago and it seems to be going very well there. They also released a press statement that eventually all their account holders with a HSBC UK banking account and credit card account will receive this card soon. So may be it's not because the card is too advance. It's probably our card processing terminals here in Malaysia are outdated 

I have seen many CIMB World & Visa Infinite cards around and also those of Standard Chartered. But till today, i hardly see anyone having RHB's Visa Infinite although it's the first to bring it to Malaysia. I heard the limit RHB give is at least 200k. Anyone has any info on this???

its a great card, however its also a little "too advance" ahead of our time. here is a blog about Just One card and at the bottom will come across a comment of one unhappy user, but i suppose its no big deal.Just One Titanium Card

I call arab-malaysian, they say the RM50 will be charge on the anniversary (next year).

I call citibank, they say they have not yet been notified by bank negara, so they're charging yet.

I call cimb, they said they will start charging on 1st Jan 2010. I'm going to cancel that card.

can anyone help me to clarify about BT programme (CIMB 0% BT is so interesting). Can the amount to be transferred more than the statement balance considering that we might have future transaction on going. would like to utilize this but normally I don't have any outstanding balance as payment was made full every month

If you don't have outstanding balance, how to do transfer?! That is the basic requirement.

HSBC did not say if they were going to absorb the credit card tax for any of their credit card holders. However, they did inform me that i will need to redeem 9,500 Rewards Points in exchange for the RM50 service tax. Not too sure how much Rewards Points is needed for supplementary card holder RM25 tax.

I was also informed that the credit card tax will only be charged along with the annual fee (if applicable).

I call arab-malaysian, they say the RM50 will be charge on the anniversary (next year).

I call citibank, they say they have not yet been notified by bank negara, so they're charging yet.

I call cimb, they said they will start charging on 1st Jan 2010. I'm going to cancel that card.

can anyone help me to clarify about BT programme (CIMB 0% BT is so interesting). Can the amount to be transferred more than the statement balance considering that we might have future transaction on going. would like to utilize this but normally I don't have any outstanding balance as payment was made full every month

If you don't have outstanding balance, how to do transfer?! That is the basic requirement.

seems like most bank wait until anniversary to charge RM50
so want to ask whether if cancelled each year b4 anniversary to avoid the RM50 will work or not?

can anyone help me to clarify about BT programme (CIMB 0% BT is so interesting). Can the amount to be transferred more than the statement balance considering that we might have future transaction on going. would like to utilize this but normally I don't have any outstanding balance as payment was made full every month

the answer is cannot since its clearly stated u need to submit ur current statement...maybe the trick will be u don't pay for that month loh

still can since public bank bt doesn't need statement for application

The Star Front Page - existing card holders RM50 tax imposed on anniversary date of card. New card pay up front. Confirmed by Second Finanace Minister.

KUALA LUMPUR: Applicants issued with new cre­dit and charge cards next year will have to pay the RM50 service tax upfront.

For existing card holders, the charge will be im­­posed on the anniversary date of cards.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, who confirmed this with The Star yesterday, said the Government would impose the service tax for credit and charge cards from next year.

“Existing cardholders will only be charged the ser­vice tax through their issuing banks upon the aniversary date of the card.

“For example, if the card’s anniversary date is in January, then you pay the tax in January. But if the date is in April, then you only pay the tax in April,” he added.

The minister’s clarification puts to rest nagging doubts among the millions of credit card holders in the country who have been raising queries since Prime Minister Datuk Seri Najib Tun Razak an­­nounced the new tax when he unveiled Budget 2010 in October.

Najib, who is also the Finance Minister, had said that a RM50 service tax for principal credit and charge cards and a RM25 for supplementary cards would be imposed from January.

This has led to card holders asking if the charges will be imposed from Jan 1 or on the anniversary dates of the cards, which are usually issued for a three-year period.

Those holding a string of cards were most eager to know before deciding to cancel some of their ac­­counts.

A check with the customer service departments of several commercial banks showed that they had yet to receive any definite confirmation.

Some banks said they were still awaiting for a directive from Bank Negara, while others think the tax would be imposed on the anniversary dates.

A third group of banks has also offered to absorb the tax for the cardholders, on condition a certain amount of money was spent within a certain timeframe.

Cardholder Y.L. Sim, who called up the bank to cancel his credit card, said the bank advised him “not to be hasty.”

“The officer said that they had yet to receive a formal directive from Bank Negara (on when to impose the tax). But I was worried as the New Year was nearing,” he said.

Deputy Finance Minister Datuk Chor Chee Heung, when contacted, advised cardholders to plan accordingly, saying holding two credit cards was enough.

““Even I intend to hold only two credit cards,” he added.

He urged those who had large outstanding credit card debts to stop using the cards and meet the issuing banks to work out a repayment mechanism.

There are some 11 million credit cards circulating in the country.

any1 know when will my 600 quota being replenish, yearly means every 1st jan will replenish or hav to wait for a year..??!

seems like most bank wait until anniversary to charge RM50

so want to ask whether if cancelled each year b4 anniversary to avoid the RM50 will work or not?

1st Jan? I hope so! A fresh RM600 rebate will be calculated according to your card anniversary date.

I have to wait till May/June next year only can reactivate and use the card. Next time I will use it slowly and not too aggressively, in order to enjoy the rebates throughout the year.

guidelines are finally out!

no need slowly la, the max still RM600
if i can finish it in a day, i will

I actually applied for the card in May and received the card in Jun, but my card expiry date is 03/11, so when will they give me fresh rebate

1st Jan? I hope so! A fresh RM600 rebate will be calculated according to your card anniversary date.

I have to wait till May/June next year only can reactivate and use the card. Next time I will use it slowly and not too aggressively, in order to enjoy the rebates throughout the year.

where?

I call arab-malaysian, they say the RM50 will be charge on the anniversary (next year).

I call citibank, they say they have not yet been notified by bank negara, so they're charging yet.

I call cimb, they said they will start charging on 1st Jan 2010. I'm going to cancel that card.

This is interesting because I called Direct Access, the CS say that they are still waiting for bank negara instructions. They advised me to cancel the cards if I'm not using them actively, and reapply back when things are more "assured".  No persuasion what-so-ever to ask me not to cancel my card

erm eh what happen to the credit card cancellation template here??

What I meant was that I wouldn't use it too aggressively. For example, if I need to pay a bill amounting to RM8k, I will use my Alliance Visa Plat to pay the first RM5k and SCB JustOne for the balance RM3k. By doing this way, I can maximise the cash back of my Alliance Plat which is limited to RM68.75 for a maximum spending of RM5k on a monthly basis. Meanwhile, I can still slowly enjoy the cash back gained from SCB JustOne which is capped at RM600 on a yearly basis. I won't only use SCB JustOne alone for a bill costing more than RM5k.
You will get a fresh rebate in April. Mine is slightly better. I received the card in June and the card anniversary date is in May.

The Star today confirmed it. Gonna go cut all my credit cards today. Not gonna let the stupid gomen tax me.

For those bank who keep delaying you when you wanna cut your credit card, think again my friends. Once you kena tax, can you call them up again and scold them and hope they will refund back to you? No mercy, do not hesistate.

PM + Finance Ministers annoucements > Bank Negara letter.

Welcome back to zamam purba Malaysians. Use your cash. Maybe later gomen wanna tax the cash money we use. Then we trade je la.

Happy Xmas and Happy Cutting Credit Cards. Haha

Calling CIMB to confirm my cancellation.
Have been waiting for at least 20 minutes and counting.....

wow, they're busy.

Thanks! Read online just now. May i know what is anniversary date? Where to get it?

want to ask if we cancel every year b4 anniversary, will we still be charged the RM50
eg: my maybank card expiry is month February, so i cancel it on January, then apply back on February

wat u guys think? i know its pretty stupid and im sure banks will put up some kind of counter measure since they're smarter than us consumer...just curious

want to ask if we cancel every year b4 anniversary, will we still be charged the RM50
eg: my maybank card expiry is month February, so i cancel it on January, then apply back on February

wat u guys think? i know its pretty stupid and im sure banks will put up some kind of counter measure since they're smarter than us consumer...just curious

want to ask if we cancel every year b4 anniversary, will we still be charged the RM50
eg: my maybank card expiry is month February, so i cancel it on January, then apply back on February

wat u guys think? i know its pretty stupid and im sure banks will put up some kind of counter measure since they're smarter than us consumer...just curious

I think the thing goes this way..

If ur card expiry date is let's say

11/12

So only on November u will be charged

Let's say ur card expiry on Feb..

U cancel on Feb.... there should be no charge as I guess

Then if you re-apply on March... the tax shall be imposed immediately

Can anyone confirms this???

KUALA LUMPUR: Applicants issued with new cre­dit and charge cards next year will have to pay the RM50 service tax upfront.

For existing card holders, the charge will be im­­posed on the anniversary date of cards.

Hey that means we can apply for the American Express for the 15% rebate until end of February... then cancel it before anniversary date of late next year.

If we get approved in the next 2 weeks, that is.

have to reconfirm this if our cards expire in 2012 let's say July whether it will be charged next year or 2012 as anniversary date does not mean expiry date

Regarding Item 7 International Transactions above,  I have some inputs that i would like to share

These are the "exchange rates" I that i had in Indonesia.  All have been done on the same date and same place.

Date of Transaction : 08-11-2009

Maybank Visa : 0.000365751
SCB Master : 0.000367261
Alliance Visa : 0.000373044

This actually negates the "Nil" Charges for Alliance bank.  Does anybody else has similar findings?

winner,

r u sure on that, coz last time when i apply my card, the sales person told me i will get my 'quota' replenish yearly, they said cut off is 31/12? I already long finish my quota.. hav to wait till july..  never mind, i will try to purchase something using this card on 2/1/10. I will update u all if there is a rebate..

Hey that means we can apply for the American Express for the 15% rebate until end of February... then cancel it before anniversary date of late next year.

If we get approved in the next 2 weeks, that is.

have to reconfirm this if our cards expire in 2012 let's say July whether it will be charged next year or 2012 as anniversary date does not mean expiry date

If you apply back in February, you are being charged Rm50 upfront. Not a good move btw.

---

Added on December 21, 2009, 4:54 pm

Mind posting the amount in Rupiah and RM? Also the posting date for the transaction. There is a 1.5-1.9% diff from the numbers you posted above.

Hi,

The details are as follow

Maybank Visa
IDR : 660,176
MYR : 241.46
Posting Date : 12-11-2009

SCB Master
IDR : 2,508,000
MYR : 921.09
Posting Date : Not specified posting or transaction date in statement.  08-11-2009 was listed

Alliance Visa
IDR : 306,130
MYR : 114.20
Posting Date : 11-11-2009

You swapped the posting date. Alliance looks to be even higher.

was wondering, not all banks allow you to cancel the card and continue to send you statements everymonth to settle the outstanding balances.

Anybody knows which banks that allows us to do so? To cancel the card now but continue to send statements every month

yah lah, you right i swapped the posting , me blur lah  but the forex is correct

it should read

Exchange rate on 12-11-2009 1IDR = 0.0003598 MBB rate 0.0003658 or 1.65%
Exchange rate on 11-11-2009 1IDR = 0.0003601 Alliance rate 0.000373 or 3.56%

The quick answer is no. But I do know of such practice but I don't think you want to be associated with it. Banks will do this to their customers who are defaulters and your name will be listed. Just pay off your debt lah ... or execute a Balance Transfer.

However anybody tried to check the rates for credit card n debit card?  Mastercard for example?