Some merchant do copy the card number down or swipe the CC in the cash register machine. Is this practice safe?

This post has been edited by David83: Oct 1 2011, 06:15 PM

not true. I've seen the merchant slip having the full number

Hmmm, do you remember which merchant or which service provider? So far, all the slip I signed did not reveal the full CC no.

Saturday October 1, 2011

Card holders give the thumbs up to new payment method
By FARAH FAZANNA ZULZAHA
newsdesk@thestar.com.my




PETALING JAYA: Credit card holders have given the thumbs up to Bank Negara's new payment method to be implemented from today.

The new payment allocation method requires credit card issuers to use payments to pay off balances with the highest interest rate first.

In the event where the interest rates of items are the same, payment will be used to clear the items in the order of transaction date.

The new payment method would benefit consumers as it would help minimise the amount users have to pay every month.

“Users can pay off their debts faster and they can manage their finances better,” said a user, Selvaraj.

It would lessen the burden carried by card holders by encouraging them to make full payment, he added.

Universiti Teknologi MARA senior lecturer Siti Zabedah Mohd Shariff, 56, agreed that the new guidelines set by Bank Negara was convenient for those who made minimal payment on their credit cards.

“The new method will benefit card holders who can't afford to pay in a lump sum,” said Siti who used her cards to pay for travelling expenses.

Another card holder, who did not want to be named, said the new method would help users as products bought earlier could be paid for first.

“It will reduce interest in the long-term and can make users realise how much they are paying for the items that they have bought.”

The new method was part of the revised credit card guidelines issued by the central bank on March 18 this year.

I believe so at least for now. If not, we would have seen massive cc fraud cases by now.
Practically every cash register machine in the major supermarkets captures your cc info.

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Added on October 1, 2011, 9:25 pmThis is true. I have noticed this myself and always the customer copy does not have the full info.
Guys, please don't get into paranoia mode over this issue. If it really an issue / exploitable then it'll all over the local news long time back.

This post has been edited by hye: Oct 1 2011, 09:25 PM

happened to just see a Jaya Jusco slip that show my MBB 2 Amex card number in full but expiry date **/**

Used to be big problems with this in UK before - petrol stations used to issue receipts with enough details to top up your pre pay phone on O2!

thank you, I agree with Hye this is not a big issue I asked because would like to know the normal practice.

My next question, can the cc machine allow the merchant to print 'merchant copy' more than once in a transaction?

I believe so. I saw they reprint duplicates for customer copy.

Last time, when I worked as promoter, I remembered the old swipe terminal is able to reprint all the transactions on a particular day. Not sure if this is still capable on the new chip terminal.

Yes, even nowadays new terminal still able to reprint last transaction duplicate copy in case of no paper when half way printing. They is no limit to reprint duplicate copy, however all reprint copies comes with 'DUPLICATE' note at the bottom of the slip.

my fren got balance hutang CC m13k

this month he got no money to pay..


so my question here

if he dont use AKPK, direct discuss with bank. izit possible?

then next month lor.late 1 month still ok

same, disagree with gst increased. the interest that should be increased! so people will pay full amount or just will be scared to use card ~

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Added on October 4, 2011, 6:04 ambut i believed bank wont increased the interest, instead they lowered it.

like mbk2 doing now, 8.88% p.a.
or mbf, 0% for 3 years (max amount applied per card type).

besides, for the bank, there is where the money come from

This post has been edited by erry-: Oct 4 2011, 06:04 AM

the terminal can even cancel the approved transaction

go doing BT lah - http://forum.lowyat.net/topic/1992001

Late 1 month still ok?

Really?


Just curious, if ma fren lari (from cc/bank) wat will happen to him?

Can he get muflis or bankrup title?

late 1 month won't die.. just record will be bad and hard to get other loans and credit cards in the future.

My suggestion is if he really can't pay in full, pay the MINIMUM amount so that he can take advantage of better interest rates.

if he runs, then he will get sued, lose all savings and assets and made a bankrupt. If you are really a friend, never encourage him to do this. Instead encourage him to stop spending. How do you rake up a Rm13k debt that you know you can't pay...

This post has been edited by zenquix: Oct 4 2011, 02:36 PM

I tot bankrup if loan/ debt more than 20k?

is there even a minimum? I don't intend to find out.

look at it this way. at 13k debt and 18% p.a., it will reach 20k in abt ~ 3 years if he does not pay or charge new transactions to the card. Although if he does not pay for ~ 3 months it will already ring bells in the banks. Do you know the the banks can take money from your accounts to pay off your debts without needing your express permission? (cause you already gave it them when you signed the application form).

If you can't afford it, don't buy it.

This post has been edited by zenquix: Oct 4 2011, 02:44 PM

Ok, so any other solution to help out my fren?


Just asking him, minimum payment this month is rm6xx.. So he totally ran out money..

Can he direct go n disccuss with bank bout this matter?

That does not mean that your friend need not pay the debt right ?
And if you are answering in this manner then please stay away from this thread (and don't bother to come back ... I'm saying this nicely) coz with this sort of mentality / questions, it is not setting a good example to other readers. And I'll pay more attention to such questions in the future / effective immediately.

Very good at raking up debts (the wrong way) and then have the cheek to ask don't want to pay ?
Your friend can ask him/herself in here and stop asking on behalf. I don't see the need for intermediary (yourself) to ask the questions in here, especially for such sensitive questions. Don't play the whispering game and your friend understand the advisory all wrong.

This post has been edited by hye: Oct 4 2011, 03:04 PM