my annual income less than 36k and have 2 cc, can i pledge the FD to bank to apply the 3rd CC?

oh ya, already applied maybank 2 card, waiting for their approval

Do we need to update our income with credit card company yearly?

The SC request me to update for them as it is instructed by BNM.

Serious?

Have you updated yours with them before?

Their system said last year. But i remember i did it by this year 1st quarter.

If salary is above 36k, i would just ignore it

More than that.

But they still ask me to update the income so that they can try to get some offer for me. LOL

Currently my primary job annual income is 31k (with epf) and have a contract work (no epf) with 6k per year, could I apply for 3rd credit card?

did u declare all your income including the contract work.

If u declared it, u can try submit together with your BE Form showing proof of income.

Thanks bro
Seem I need to do so in 2014 BE, my 2013 didn't declared

You can try to submit the application with just say the Contract, but the Bank may have to ask for additional proof such as BE Form.

I had an interesting conversation with BNM via the telelink phone number.

Basically my wife tried to ask Public Bank to lower the SMS Alert to RM30 from the default of RM500.

Public Bank refused to do so and when my wife mentioned BNM Policy, they said the lowest that Public Bank is willing to go is to RM100 and that BNM said that consumers can choose to receive SMS Alert for all trnasactions is for 'Online Transactions' and not Credit Card Transactions.

So, I got angry and called BNM via the Telelink and spoke to the BNM Officer (but I forgot her name).

I told the BNM Officer my story and her reply was:

1. BNM says that consumers are to receive a SMS Alert for all Transactions above the default amount

2. BNM did not set the default amount although it is understood that most Banks have set it at RM500

3. Consumers are free to choose their own default levels subject to 'mutual agreement' with their Banks.

4. Where the consumer and the Bank cannot agree on the lower amount, the consumer can insist to lower the amount subject to the consumer agreeing to pay the charges for the SMS Alert as this is considered as an additional service.

I did mention to the BNM Officer that the default amount of RM500 is too high as culprits in places such as Restaurants, Pubs can just swipe 2x of RM200 and the consumer will not know until the Statement arrives and will be in a difficult position to dispute such transactions.

But BNM Officer says to 'negotiate with the individual Bank concerned.

Should I send an official e-mail to BNM to confirm this?

Calling also other sifus Gen-X boon ronnie to give expert comments

For the record, I have managed to get my other CC like AEON, Alliance and OCBC to lower the threshold to say RM30. But Public is the most troublesome so far.

This post has been edited by cfa28: Jan 13 2014, 05:17 PM

Hi, if we refer to the press statement by BNM, there is no mention about minimum threshold at all:



When I face any problem in setting the SMS alert, I always lodge an official complaint to Bank Negara. Bank Negara will then issue an email to the bank (person-in-charge) and will direct the bank to give a written clarification within 2 weeks. The banks always comply. These includes CIMB, Maybank, Aeon, RHB and UOB.

In your case, it seems like the bank officer is giving her own interpretation as 'negotiation' and 'mutual agreement' will lead to an open ended policy/ruling. If the above is indeed true, the banks will not even bother and just stick to their own trigger limit.

Tks boss, I think will draft an 'official complaint' to BNM and ask my wife to send and see what BNM says. Saying something verbally and in writing is always different but at least within BNM, there are many precedent cases like your own.

Bro, accept the RM100 default and make sure it works then only write to BNM . If you ask me, why want a Public Bank credit card that pays 0.3% cash back.

yeah, Public CC rebates are very low but it was one of the 'Free for Life CC' that my wife got many years ago cos she took a Mortgage with Public Bank. Her other CC refused to waive AF cos she is not very active user (cos she uses my Cards instead, Ha Ha)

Have asked my wife to terminate it this year before GST kicks in again.