No payslip just commission stmt which is not more than 3k/mth

hm.....
if i have two cards limit which add up to be more than my 2 x salary,
can i terminate one card, but having one card which limit is higher than my 2x salary?

max is 2 cards with each card max 2x of your salary if you are under rm36k salary bracket. you can't have any one card that is higher than 2x salary.

ello, dont scare ppl la...owning will not result to bankrupt filling, owning and not paying will.
i believe there will be arrangement to be made if still cannot settle the outstanding after 2 years.

Hi, I have a question regarding this new rule.

Say, for example, my credit limit is 20k, and I have spent 18k.
Then, the bank cut my CL to 5k.
I understand that I will be give a grace period of 2 years to pay the debts. And I have to pay at least 5% every month.

My question is, how is the bank going to calculate the interest & finance charge for the outstanding balance? Does it work like the normal way, 18K * 17.5%.
until u make a full payment?

They will most probably need to convert your balance to sort of an installment for you to pay down.

My current salary is exactly RM3,000 right now (Basic + Fixed Allowance). I wonder if I should ask for rm10 increase in salary from my boss to get above the rm36k requirement. What do you guys think? Or will the banks be lenient and allow me to have 3 CCs?

Don't recall whether the ruling is on Gross Income or Net Income because don't think it's explicitly mentioned.
But assuming the new Responsible Finance Guideline complements this Credit Card guidelines, then the income bracket will be on Net Income. Assuming that is true, then your increase of RM10 will not qualify you as well.

But back to the topic; there's a reason why the BNM limits the number of cards as well as exposures. So think back - do you really need 3 cards?

Yea, 3 credit card is like too much. Two is just enough. I'm now cancelling those that doesn't reward me back at all even my salary is above 36k. :S Gonna redeem all the bonus point and cancel their card soon.

I'll prefer if they just send me those exclusive cards, LOL.

Rec'd a call from Citibank asking whether I have rec'd the letter to declare income. I told her my income is less than RM36K, she then told me nevermind just hold on to it first until they call again later. So I think the banks are doing something to retain those with good record but earn less than RM36K

Of course they will do like that because they don't want their source of income to just disappear like that.

hahahahahha

i have no income for 2 years but until now no letter or calls from bankk asking me to declare income?

i have a few cc
all Cl 30k

is it againsts the law to retain the cards?

else i just buat buat bodoh for now?

I too have more than 2cc CL ranges 6K to 85K. So far only receive the letter from Citibank. At the moment just leave it as it is until they act on it, worse case retain 2 and cancel the rest. No problem.

That just proves one statement i.e. banks are too desperate for business thus to match competitions, they just gives higher lines for new cards. Main reason as well why so many are in CC debts where they cannot control their spending.

Ya I have the same opinion as you. How could the bank give such high credit limit to an individual where by they don't actually knowing how much the person earn monthly. It is like 20x to 30x times the monthly salary.

1 of my friend earning around RM3k but having a credit card with limit of RM100k. I was so shock to know it and he having more than 3 cards that having RM100k and another 2-3 cards with RM50k and above.

What is the trick from him is, He pledged in a FD with bank A RM50k. He get a credit card with RM50k credit limit and after 1 year, he used that card to get another credit card which give him even higher credit limit. Repeat this process for 2 years, he get RM100k credit limit cards

This method of judgement by the bank are sux...

Oh well, if he does have a 50K FD to liquidate, then if the credit checks show he deserve a 50k CL CC, then he does.

But other banks of taking 50k CC to get higher CL is like

This method doesn't work for many banks. The reason is because one cannot use a secured credit card that is more than 1 year old as reference to apply for a new credit card. Other banks can find out that the credit card is a secured credit card through his/her CCRIS. I had a secured credit card before, that is why i know this.

The problem is the 2nd bank approved the credit card using reference of the 1st credit card that using FD to pledged and this bank is CITIBANK . After 1 year he use this credit card to apply other credit cards...

What ? Speechless! Anyway, as long as he can pay... may be he's from a rich family, who knows

Is there any official letter will issue whether the customer is entitle for 2 card below or above?

I got different answer regarding on the credit evaluation. public bank said look at your basic only. Citibank said look at your total incoming recorded in your payslip.