You'll have until the end of this year to choose which two credit cards you want to keep.

Cardholders can only hold credit cards from a maximum of two issuers.

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

KUALA LUMPUR: Bank Negara Malaysia will implement SMS alerts for credit card transactions by Jan 1, 2012, in a bid to curb fraud.

A BNM official said card holders may respond to the SMS after the transaction was performed.

"If the transaction is not made by them, they can call the bank to cancel it and alert the police," she said Wednesday.

She said this would be followed by the implementation of the personal identification number verification for all card transactions from Jan 1, 2015 onwards.

BNM and banks in the country would continue to improve the security of the credit card, she said.

"The main issue is to enhance security of the credit cards and not the mechanism of delivering them," she said, when asked on steps taken by BNM to curb rising credit card fraud, including the arrest of seven postmen by the police recently.

On Tuesday, Kuala Lumpur police deputy chief Datuk Amar Singh Ishar Singh said the seven were among 13 people detained by the police in connection with the interception of letters containing credit cards. - Bernama

KUALA LUMPUR: Bank Negara Malaysia will issue transaction alerts via short messaging service by Jan 1, 2012 in a bid to curb credit card fraud.

An official from Bank Negara said card holders could respond to the SMS after a transaction was performed.

“If the transaction is not made by them, they can call the bank to cancel it and alert the police,” she told Bernama yesterday.

She said Bank Negara and banks throughout the country would continue to improve the security of credit cards.

“The main issue is to enhance security of the credit cards and not the mechanism of delivering them,” she said, when asked about steps taken by the central bank to curb rising credit card fraud.

This came about after the arrest of seven postmen by the police.

On Tuesday, Kuala Lumpur police deputy chief Datuk Amar Singh Ishar Singh said seven postmen were among 13 people detained by the police in connection with the interception of letters containing credit cards.

“Our investigations revealed that a syndicate used the postmen to intercept credit cards for a fee of between RM50 and RM100 for each successful interception,” he said.

In an immediate reaction, Fomca president Datuk Marimuthu Nadason said action to curb credit card fraud should be taken immediately rather than wait until next year.

“Why wait? Now, even postmen are involved in intercepting new credit cards,” he said.

He added that he was disappointed with credit card companies as they were becoming complacent.

“They must take responsibility in ensuring the security of the credit cards,” he said.

These companies, he said, should also look into sending the new credit cards to the nearest bank branches for consumers to pick them up personally instead of mailing them.

Card holder Vanila Pakirisamy, 32, applauded the move by Bank Negara but said an option should be given to customers if they wanted such a service.

“It will depend on how often and how fast the SMS is sent to us. Some people may think it will be a bother to receive an SMS for every transaction,” she said.

Vanila, a teacher, said cardholders should also take their own precautionary measures.

“They should check their card every time they pay, especially when the card is taken away from them, like in restaurants,” she said.

Another card holder, Dewgem Yen Qai Yin, 26, a magazine editor, said the move was a good one but questioned if consumers would need to pay for these transaction alerts.

“I just hope that before they implement the move, they will do a thorough research on the matter. It is no use using short-cuts without thinking about possible harmful consequences,” she said.

ya good one, email to BNM on this, hahaha

anyway, here is my article I posted at my blog in regards to the Star headlines.

http://creditcardsmalaysia.blogspot.com/20...harges-sms.html

The sms will not send for every transaction, only for certain limit

http://www.sinchew.com.my/node/200784?tid=1

By the way, one will get 3,000 free TP after you've submitted your income document. There is also a Maybankard brochure inside the envelope and the one i received is explaining the benefits of a Maybankard Gold card 

How many cards you need? 2 are more than enough..
BTW, I currently have 2 cards. Maybank Visa and OCBX Titanium Mastercard.

Question : Am I able to get a supplementary card? I don't really get the idea. Credit limit will b combined with primary card is it?

Banks urged to further tighten criteria for getting credit cards

ALOR SETAR: Financial institutions, especially commercial banks, are urged to abide by stipulated guidelines and to tighten regulations on the issuing of credit cards to avoid fraud.

MCA vice-president Datuk Seri Chor Chee Heung said the failure by financial institutions to do so had resulted in many cases of people using false identification to be issued with credit cards.

He said several complaints had been received by Kedah MCA from members of the public who claimed to owe credit card companies for cards which were not issued to them.

"Financial institutions should be more cautious and review conditions for approval of applications for credit cards from the public," he added.

Chor, who is Housing and Local Government Minister, told this to reporters after a housewife, Chan Ah Kim, 33, met him to seek his help to resolve her predicament.

Chan claimed that she was being pursued by a bank to settle her credit card debt for a credit card that she claimed was not issued to her.

Chan, when met by reporters, said she believed a man she met in 2010 to apply for a business loan had used her personal documents to apply for the credit card.

She said the man had asked her to hand over 10 copies each of her identity card, business registration certificate and bank statement.

"It was in 2011 when I began receiving letters from OUB Bank asking to settle more than RM5,200 for usage of a credit car.

"Since I had never used a credit card, I refused to pay and this resulted in OUB to send a summons letter early this year," she added.

Chan said she had discussed the matter with the man to resolve the matter, but the later refused and this her to lodge a report at the Alor Setar police station last Thursday. - Bernama

If my salary is 3.1k , will i still be limited to 2 credit cards ?

say oni, no real enforcements.
still got banks calling up offer cards...

no proof unless i accept the card offer.

I won't wanto ask the caller's name
and then complain to jeopardise his job.

i am sure bnm will only give warning to to bank,
if there action taken.

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?

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

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

In the effort to further enhance credit card security and to promote public confidence in the usage of credit cards as a safe payment instrument, effective 1 January 2012, transaction alerts via Short Messaging Service (SMS) will be implemented by card issuers for their cardholders after transactions are performed. This will be followed by the implementation of the Personal Identification Number (PIN) verification for all card transactions from 1 January 2015 onwards.