Currently owning 3 card now.. and I still have to pay monthly installment for 3 banks because I,m using their 0% easy payment scheme. Dont have money now to pay it lumsum~ what should I do? BNM said we still have 2 years to pay all the debt. Is it mean we can cancel our card first and pay later? How much the interest will be? Is it still like easy payment scheme?

No official news has been released by the banks since BNM announcement. Let's see what the bank has to say.

After you selected the card that you wanna cancel then you are given at least 2 years to settle the outstanding and yes you can cancel the card 1st but i think the interest will still run as usual lah, as for the interest the bank will fight to keep their customer so you might need to wait for the competition within the banks. So my advice is to ask the bank to restructure the outstanding into some loans also can, and u have until this year end to play with but please please dont last minute as you will suffer by then. As traditionly Malaysia always last min...

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Added on March 28, 2011, 4:56 pmLatest update is that Bank need to prove that the customer makes more than 36k per annum when BNM come to audit, if your current salary are below 36k they have to lower it and if not mistaken will be coming months.

Worse departments to work in the bank now is those to who hadnle increase or decrease the limits.



This post has been edited by ak1977: Mar 28 2011, 04:56 PM

so now i have quit my business and am not working too....
how? cant hold the blardy cards even if i am a good paymaster and have never paid late or any interest,,,?

looks like have to switch vote next elections

They have a separate criteria for retirees as below. Not sure about your case though.
http://www.thestar.my/news/story.asp?file=...5960&sec=nation

The move is to control the debts, a lot of similarity with Singapore on the credit limits section as for 1 person only limit to 2 issuers if income less than RM36k is pretty good control if you ask me.

Cimb already announce the New Measures on Credit Cards Q&A
http://www.cimbbank.com.my/index.php?rp=ne...d&tpt=cimb_bank

Your source please on audit thingy? Look like my guess was right when I mentioned in my article that banks should concentrate on customers earning more than RM36/K per year instead of wasting their time answering to BNM. To read my article clink below link
http://creditcardsmalaysia.blogspot.com/20...ual-income.html

you are really resourceful lah However CIMB's Q&A nothing new, actually just repeat what BNM announced.

if you read The Star article posted by MileAndMore, banks will implement their own guidelines when it respect to pensioners or retiree. Problems is people like us below age 55, can be considered retirees? I still got until end of year to find a job that pays me RM3001/month

This post has been edited by Gen-X: Mar 28 2011, 08:29 PM

Hi Gen-X,

There is a meeting between the ABM last week and a lot of issue come out, just that I can not share with you at the moment. It not official yet, as for the audit, every year BNM will come just that now they will concentrate more in this area. Yup, your source of info is POWDERFUL but what i know from some friends in the local banks said that they have stop recruiting the customer who income less than RM24K months ago ( not sure correct or not, might be BS me ).

However all hope are not loss for those RM36K below, look at it this way, banks will fight among each others to ensure that they are one of the 2 issuers that the customer hold. Benefits to them lah.. if not happy with the service or what not.. cancel and move to other banks they will retain them one.

Basically their own guidelines will still base on the new credit card guidelines one, just that some foreign banks have their own risk factor that they need to consider. different bank different strategy mah.

+1
War of silver/gold/titanium card is about to begin
If OCBC is willing to lower its Titanium card requirement to RM30k, it will be one of the must-have two cards.

I remember i complaint to OCBC about their payment option, the setup of the branches is very in considerate to the customer who pay cash. Just imagine, you have 2 Cheque deposit machines, 4 ATM machines and ONLY 1 Cash Deposit Machine. What logic, they should have 2 cash deposit machines right, what non-sense no wonder their machines alway down bcos cash inside full liao.

I "Beh Ta Han" i call and ask the manager how would you expect the CDM to sustain during the weekend with 1 machine and OCBC branch dont have much branches compare to local banks. Then this manager told me I can do internet transfer and bla bla bla.. Hello, In order to do internet banking you need cash in the account first right, without bank-in the cash how would you expect the internet banking to take place. And i have to drive to another branches just to bank in, how annoying right. Somemore they said they are upgrading their branches, they should think of this. By the way, I'm referring to Great Eastern Mall OCBC braches there, i know now they have 2 CDM there already. Dont think is me who make them change, i'm just a small potato.

This post has been edited by ak1977: Mar 29 2011, 09:46 AM

u can pay ur credit card bill from other bank saving or current account using GIRO

I know before you can do interbank giro, you need money in the bank 1st right, so i need to bank in the cash in my account first right. if the machines always full at the mentioned branch how do i bank in leh? Dont you think 1 cash deposit machine is jsut 2 little. Beside Great Eastern Mall OCBC branch is not a smaill branch their traffic quite high.

He meant ONLINE IBG
Unless you are a businessman and have to deposit cash every day, else it is not advisable to approach banks. (risky place)

I know what he mean... just that sometimes when you have cash in hand it very annoying to see this conditions, specially those customer who deal with cash daily. I mean my feedback to them is at the customer point of view. They are customer like me ( old school ) prefer to bank in Cash. thats why. Sometimes when they setup it must make senses, setting up only 1 machines is too risky, must have a back up right. If you go the banks any banks normally they have at least 2 cash deposit machine right.

I mean before any transfer here and there, intebank giro & etc the cash need to be in the account 1st right how are u going to transfer 100 if your a/c only have 50 leh, you need to bank in the 50 1st right. CDM is one of the tools to do so why they cant add 1 more machine leh.

just my 2 cents

This post has been edited by ak1977: Mar 29 2011, 11:08 AM

I see.
One of the solution is to open an account with the bank which has many ATM/CDMs.
I agree that a single cash deposit machine is certainly not enough. Sometimes even two CDMs also not enough, esp on weekends.

The worse experience i had is 4 CDM machine 3 are down and the que was so long, when almost reach my turn the machine tell me "OUT OF SERVICE" ... i was so angry hahaha... need to drink a lot of LIONG SUI to cooldown.

i tot maybe since the 'higher' type esp the plat which comes with their own requirement which is higher that 36k pa, they will just save their trouble haha..

if your income is < RM36k your platinum card will end up 6K CL only if they dont downgrade it. For the banks those who earn > than RM36k is BAU only nothing change, now the battle is to retain those < RM36K.

The maximum credit limit extended to a cardholder shall not exceed two times their monthly income per issuer.

This one for those earning 36k or less per year, or for everyone?