Another news just came in. No more sudden credit limit increase and we'll soon all have to key-in our PIN number to buy something with our credit cards.

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Update by maybank
http://www.maybank2u.com.my/WebBank/FAQ_BNM030411.pdf

Line number 10
Are the new guidelines applicable to the American Express Charge Cards?
No. The guidelines are only applicable to Credit Cards only

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The problem with BNM is they leave everything ambiguous and expect the banks to do the dirty job.
For example, a guys with income RM36k may retain 2 issuer. So currently he has 4 issuers, which bank want to make the 1st move to cut the guy's line and card? I bet that no bank wants to take the first step.
When BNM audit the banks, what is the banks best defense? They can claim that the guy wants to stay with them and it's the other banks whom should cut the relationship.

Anyway, that's just my opinion. I just can't seem to figure out this could be implemented for existing card holders.

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Added on April 11, 2011, 11:48 pmInsider tips - ABM is trying to come up with a method to justify a person's income via proxy based on the customer's cards, housing loan or hire purchase then propose to BNM as a justification for a said customer's income.

Like I say, no one wants to lose the current pie they are holding.

Need bring the hp always.
Too many fraud cases

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

Careful lah ... don't want your statement to cause readers here to switch on their mobile while flying.
We don't want to be causing accidents in the air indirectly!

Anyway my thoughts are
1. Banks always advise you to inform them prior to any travelling. If the transaction happens when you are in the air then definitely the bank can take action.
2. Some banks have invested in fraud recognition system to recognize irregularities based on your spending patterns.
3. You can use the boarding pass to prove that you are on a plane and unlikely to have been at the local mall making that purchase right?

Saying that ... I have been flying often and never the bank called me while I am in the air nor encounter any frauds with my card. Often overseas travelers do carry roaming capabilities on their mobile, don't you agree ? And correct me if I'm wrong (since it has been many years already), our local prepaid mobile numbers do have in-built roaming capabilities vs. their postpaid counterparts (where you need to apply for it) ?