I think they are going to implement it gradually starting at the RM36000 and below yearly income. I know a guy who has RM4k monthly income with RM50k credit card debt and he has been holding his debt forever. This is a scenario that BNM want to have it gone with but of course it will be most prudent to start with the fresh grad before anyone else. Anyway, I would still consider the max allowable RM12k credit limit as pretty high...but bye bye to 36 months installment lol. It is a good way to start really and definitely safer than just increase the % min payment on credit cards. That would definitely kill a lot of people.

Besides, how many of you spend like crazy after a confirmation of an increase salary from a new job or from a rumored higher than expected bonus and than living on debt for the greater part of the year and thus make no difference even with a pay raise? With tight credit you will feel yourself elevated right out and not to find out later that your pay "raise" was really only to pay for your min payment lol.

I think if I am to blame a bank it is CIMB