To All Visitors (Especially Newbies) to the Credit Card, Prepaid, Debit Cards & Loyalty Cards - RECOMMENDED READ!

Threads

T-1. Zero Tolerance on any topics or posts that will stir sentiments related to 3R (Race, Religion & Ruler)
There has been a rise of such throughout the forum lately and while it may be tolerated in other sections of this forum but not here. Anyone posting or raising such topics / posts (or the likes) will attract non-negotiable consequence management for this particular offense classification. Upfront warning has been given here - no appeals or justifications for the MOD actions will be given.
1st Offense - No less than 1 month warning.
2nd Offense - Permanent suspension.


T-2. Threads are regulated with Zero Tolerance on violators (esp. thread opening) and require permission from the cc MODS before anyone opening one up.
Too many incidents that a new thread was opened without prior permission. We don't function like the rest of LYN forum and we have maintained the quality of the threads over the years by making sure the topics stay relevant. Our coverage are very comprehensive and pretty much covers most of the Malaysian cards landscape. Whatever that is not covered will go to the "Post/Ask general questions thread" thus readers have very little reasons to open a new thread as they like. The MODs have absolute right to close and remove without notice the threads that violate this rule and we are not obliged to answer as to why we close it. (Myself very trigger happy about deleting such threads) We warn ya already!


T-3. Threads topics
In ensuring high content access and centralisation of information in this section, fragmentation of products would no longer be tolerated moving forward. (e.g. Fragmentation of Public Bank cc products - Premier, Cash Back, etc) We have seen some threads suffering from low access if the product is not popular and remains low over an extended period of time. For existing threads, a gradual thread consolidation will be done.
An approval from the cc mods would be required if anyone seeking a deviation from this rule.

T-4. Thread Starter (TS) Appointment
Every single thread in the cc forum will have its own designated TS.
1. A new TS seeking to be appointed will need to submit an application to the cc mods and the received application will be made known to public.
2. Consideration on the application will be done and after a brief deliberation period, the new TS will be appointed by the mod(s). Among the methods of deliberation would be a public referendum on the new TS or a discussion among the mods.
3. New TS appointments (esp after 1st Jan 2017) are to note that their TS status are not automatically renewed once the thread limit is reached. TS status may be revoked if there's concerns on TS conduct.


T-5. Threads ownership and quality
If you are now a TS (you made past the MODS approval for threads opening), Congratulations and thanks for helping us making this section a success! I believe in giving equal opportunities for our readers to be TS, to contribute and maintain the quality of our threads.

There are many examples of quality threads such as (alexwsk:Maybankard 2 Gold & Platinum Cards, Gen-X:Maybank Islamic MasterCard Ikhwan Gold and Platinum Card, victorywp:UOB Credit Cards) Do use these examples when designing your own thread someday.


T-6. Threads limit and new thread versions (Postponed until further notice)
The general rule is to close the existing thread when it reaches post of 2500 to allow a refresh of the thread to occur from time to time to keep the discussion/interest of our readers fresh. Given the task of TS is voluntary in nature, a revision to this limit would be set @ 4000. TS are to ensure a refresh of the threads prior to reaching the limit to avoid automatically losing their position as the TS of that thread.
TS not adhering to this rule (during / after the postponement period in effect)
1. Would not be eligible to open any new thread as TS.
2. Assume new TS for an existing TS.
3. New TS position is open for the thread and applications will be considered. If new TS is selected, new thread under new TS will be opened.


T-8. Posts - Masking and Off Topic
A commonly prevalent practice in the Kopitiam threads to mask brand names/names to so called avoid being recognised. Example Maxis -> Maxxis / Mxxxx. Such practice is not accepted here as members are required to have accountability over their posts and not hide away from such. Any posts exhibiting such would be removed without notice.

Discussions are to be kept relevant within the domains of the respective threads. Off topic posts will removed from that thread without notice nor justification.


T-9. Credit card SST Tax
A RM25 credit card SST tax will be imposed for every card issued or activated from 1st September 2018 onwards. Tax will be paid by card holder to the government and it will be collected by the respective card issuer/bank. No such thing as the tax will be waived by the bank as it is a mandatory collection by the government. Incorrect/misleading discussions (including quoted/replies containing such discussions) regarding this tax will have the respective posts removed without notice nor justification. Similarly members are encouraged to report these incorrect/misleading discussions for us to act on.

If the card issuer offers to pay on your behalf then it need to be stated/reported accurately as so. Defining it alternatively as a "waiver", "reward", "gift", "tax appeal" or other similar words portrays an incorrect/misleading statement. Somebody is still paying for the tax although it is not the cardholder.

If you even think there's no harm to post such incorrect/misleading statement in the first place, we consider finance related matters to be serious stuff.

(Update 190101) PBB catalogue updated. No longer showing SST tax waiver. Now "Card Service Tax"

(Update 181109, revoked) Limited exception granted to PBB cards sections as "SST tax waiver" is stated in their points redemption catalogue. "SST Tax waiver" is provided via points redemption. Do note that this means the SST tax is still being paid by member although not in monetary form.


Other Subjects

C-1. Language
I'd like to consider ourselves as a bunch of educated, polite and civilised people. Strong discussions (in the spirit of free speech) are welcomed but any profanities / offensive / abusive language / racial stuff / incomprehensible language will be deleted swiftly without notice. (Especially racial stuff where they are not welcomed as long as I'm MOD here ... I won't think twice to bora-bora that individual) There are ways to express yourself ... especially anger/frustrations and without resorting to such language. This also applies whenever anyone posts such language in masked form - people do understand they are profanities in the first place, no point masking them as it implies/carries the same meaning. Discussion main mode of language should be English to ensure everyone understands but I'm not biased to any specific language (Malaysians are multilingual in general) - just as long nobody complains or any misunderstanding arise.

C-2. Unwanted Solicitations - Referral Codes, etc
Posting, solicitation, offer to share, sharing of any form of referral codes leading to direct/indirect benefits to any products mentioned in this forum in not allowed. Any posts containing referral codes will be removed without warning and reprimanded. Repeat of offence will warrant consequence management.

This post has been edited by hye: May 13 2024, 07:50 PM

Mythbusters

1. My credit card is only valid in Malaysia
Response : No such thing ! Anywhere on earth you see the merchant displaying the logo VISA / Mastercard, your credit card is accepted. Do note that we recommend you to inform your bank before travelling overseas to avoid your card being blocked. (Don't say we didn't warn ya!)

2. Merchant charging me 2.5% is acceptable
Response: Such surcharge has been long in practice (not only in Malaysia but you'll see such practices all over the world) but do you know that Mastercard / VISA International specifically mentioned this in their T&C that any surcharges imposed as a result of using MC/VISA is strictly not allowed ? Local bank will impose a very heavy penalty for first time offenders and an absurd penalty for repeat offenders. This is to send a clear signal that such is not allowed - period. So, don't be a carrot head the next time a merchant wishes to add some % to your purchase - decline & boycott them and (if you have evidence) report them to the bank and BNM. There're creative ways that some merchants imposes these % or additional "fees" such as AirAsia and their "Convenience fees" - it does not mean it is acceptable because it is not. Personally I have raised AirAsia's practice with Mastercard / VISA International and I'd like to raise everyone's awareness on the subject. If everyone put up a protest to such practice such nonsense will eventually be a thing in the past.

3. Banks are providing me with GST waiver
Response : Learn to differentiate between GST "Waiver" and "Offset". The truth is GST cannot be offset as it need to be paid to the government one way or another. Banks are offering you GST "offset" and not "waiver". Credit card agents / marketeers will use (more often than not) the word GST "waiver" which is wrong (intentionally/unintentionally) or they have no idea what is the difference in the application or meaning of the word.


This post has been edited by hye: May 13 2024, 07:27 PM

OLD FAQ : For remembrance ... To All Newbies to the Finance Section - READ THIS!

____________________________________________________________________________________

Another major milestone is about descend upon this forum - the card SST is about to be implemented by the government starting 1st Sep 2018.
Already we have seen major Fintech developments within this space - the proliferation of eWallets (e.g TnG eWallet) and even the resurgence of prepaid cards. (e.g BigPay) (as of Aug 2018)

____________________________________________________________________________________

There are many great contributors in this section who has developed and contributed a great deal of content to this section. Information are well organized and I can't begin to thank these guys who have bought this section to where it is now.

In light of the many things that our readers do in here, I'm writing up up a guide so that there will be no more disputes or "I don't know" remarks. Any violations (posts/threads) below will be subjected to deletions or if we are in a good mood, we'll just close the thread.

Something must be done to safeguard all the efforts and I can't think of anything else except to do this.

1A. There are specific thread for specific finance products. If there isn't any thread which falls under your category then please use the general Credit Card thread to post your question. (Link to General Credit Card Thread) Cannot suka-suka open a thread just because you think you want to do so. Threads are meant for discussion purposes and there's has been too many threads opened by "somebody" and you'll probably see a few posts and then die - they won't even survive into page 2. We want to keep the section clean and we intend to do so. Too many readers PM me and said they have the right to open the thread (and sometimes demanding me for their right to open a thread) but the fact is that in such cases the TS does not upkeep the thread and expect it to "survive" on its own. The MODs got a life as well, please be considerate and give us a break to focus on bringing content to the section and not cleaning up trash.

1B. We are polite civilized people and we use appropriate good language. Any offensive / abusive language will be deleted without notice nor reason. You want to do so then do it in Kopitiam thread and post whatever you want to say there, not anywhere in here. There are ways to express yourself ... especially anger/frustrations and without resorting to such language. We are different and we are not the Kopitiam thread - please assist us to keep it that way.

2. Special note to threads/posts which are deemed "dangerous" for public viewing. Every now and then there will be someone posting something which is highly unadvisable from personal finance perspective - e.g. Debt manipulation which leads to more debts / Illegal transactions, we reserve the right to immediately act to remove the post/thread without notice or debates. There are many poor souls who would follow blindly without understanding the long term implications or the execution of such maneuvers. This thread/section exist to help our readers to better manage their finances and not to wreck their finances further. We learn from our mistakes and the last thing we want to see is someone else doing the wrong thing as well. I'd rather be criticized for deleting the post rather than acting irresponsibly and allowing the post to exist and many reading it and repeating that mistake.

3. Posts in the section are provided for in voluntary basis by the regular guys who come in here and contribute. Please don't expect premium service just because you are lazy (My favorite coz quite a few post says ... "I'm lazy to read the many posts. I want to know ... ") or think you deserve better than everyone else. The search function exist in this forum and there's Uncle Google to help you out. If you want premium service then can contact any one of us and negotiate on how much you wish to compensate us before posting your question. We don't like people who are lazy coz we work hard to get smart. The lack of effort to search is just plain laziness and any excuses to justify it just don't cut it.

4. The answer to the No.1 question in this thread "What is the best credit card?" - there isn't any! You can be holding a premier card e.g MBB VI or MBB WMC and still you don't have the best privilege. To get all the privileges and gain access to just about every single offer in town then you need to hold every single credit card in town! Would that be practical ? Of course not! And that's what you get when you ask an impractical question - you'll get an impractical answer. So be content and settle for second best. (For card recommendations, please read item No. 5)

5. Request for card recommendations need to be posted in the card recommendation thread and using the format which we have set. Please provide information as per what we have posted or we can't help you. If you can't even follow this simple rule then please don't post the request - you are not respecting us and our efforts to provide free help. We have the right to ignore requests which are not formatted properly and you also risk being flamed by the regulars in there. Patience is advised to anyone posting request for recommendations as we work on a voluntary basis. We are not paid by any banks (we sure wish to!) to provide the recommendations and FYI the recommendations are kept unbiased in most cases.

6. Please take note that all card applications are subjected to government GST the moment the card is approved. (Some exclusion applies for pre-approved cards) Whether or not the card is activated or not does not matter as the GST will be charged. So, if you don't need the card ... don't apply the card and it is as simple as that. We don't want to hear any excuses about this as card application are not accidental. You do need to sit down and fill in the form and sign off - you have the time to change your mind about applying for a card you don't need. One more thing - READ THE FINE PRINT. It's one thing for a young man to be hasty and not read the fine print but this does happen to older readers of our forum as well. (I really don't understand why it happens) :shakehead:

7. We have been getting a lot of requests for how to avoid GST. Here's the answer - you cannot - it is a government tax. However, your card's issuing bank may have reward schemes from which you can opt to pay the GST. (updated by wKkaY on 2013-08-30)

8. Please do not badger / solicit any of the members here for any form of favors. Especially those who want their existing cards to be upgraded to a higher class, CL upgrades, tips and special request to get their cards approved if they are having problems getting the credit card on their own. This would not be tolerated. The section here have been thriving due to sincere contributions from members. Members don't come in here to get pestered so that you'll gain personal benefit.

9. We don't welcome any agents trying to solicit customers in this section either directly or indirectly. There are sections in this forum catered for such - Period.

10. Thread starter is allowed to use the "Don't Combine Post" option for reserving no more than two posts when starting a new thread.

11. Exception to above, members are allowed to use the "Don't Combine Post" option only after 24 hours.

This post has been edited by hye: May 13 2024, 07:27 PM

About time we have this "Introduction" for newbies to this section.

And to add -

1. There Is No Such Thing As Best Credit Card. It depends on one's spending pattern.

And maybe item 4, should be item 1 - Something like if you're new to credit card, please read General Question Thread 1st Post. And give them the link too as newbies to this section may be blur.

Oh, must BOLD the title of this Notice too. Come to think of it, like Annoucement - Rules To Follow (but we can't call them rules here) in Garage Sale. Example below:

http://forum.lowyat.net/MobilePhonesandRelatedAccessories

and I really like your item 3 and 5 about free service

This post has been edited by Gen-X: Jan 15 2012, 12:03 AM

Yes. Something like this would be nice

Can we have a thread to show which merchants charges the 2.5% on top of prices? I believe most shops in Lowyat Building (all-it etc) charges it.

Sounds like a good idea.

is there any thread or website that list out which store is under which MCC code?

why Call For Cash thread is not allowed to post?

Sometime you may find good offers for CFC and use it in advance to offset the home loan mortgage reducing interest.

Does owning too many credit cards hurt credit rating?

There is one time, loan office told me for loan application they calculate by number of credit facility we have over 6 mths.

But im not sure too many cc with hurt credit rating especially when applying for eg car loan /housing loan?

you may perform a check with bnm on this matter by requesting for a credit report.
if not mistaken, every cc's credit limit also likened to a loan.
meaning that if you have 5 cc with a total of rm100k credit limit, it is equivalent to you having a rm100k loan.
so this rm100k will definitely take up your total credit quota (based on your income capability) when you try to apply for a new loan.
however, if you maintain a good payment record with less utilization of your cc credit limit, this will not affect your chances of getting a new loan.

This post has been edited by victorywp: Nov 6 2013, 06:07 PM

The CCRIS report can call to check or must go to BNM?

i found it, needd go to BNM

I. Request by individual

1) If you are from the Klang Valley , you may obtain the credit report from the Customer Service Centre, Laman Informasi Nasihat dan Khidmat BNM (LINK) of Bank Negara Malaysia , Head Office at the following address:

BNMLINK operates daily from Monday to Friday, 9.00 am - 5.00 pm (including lunch time ) except for public holidays

http://creditbureau.bnm.gov.my/index.php?c...7&ac=10&lang=en

You can also email to BNM. They will email back your credit report, fastest is within 5 working days.

can check only once for 3 months

Application for credit report for individual and company could only be made once in 3 months from the last date of request.

http://creditbureau.bnm.gov.my/index.php?ch=5&pg=7&ac=29

I saw that statement as well. But I called BNM just now and they told me can apply once every month, preferably after 10th of each month as they will update it on 15th.

For my case I emailed them the application form and supporting documents yesterday and to my surprise I received it today! Kudos to BNM Anyhow I realized that you need password in order to open the report, which you have to call up and request directly from them. I only check my email after 5pm so have to wait till tomorrow only can check

OK, thanks. Will do it after filled up all the information and prepared the documents

I emailed them Monday, this morning already got the report.
The Date Balanced Updated is 30/4/2014

It is now pretty standard practice in Australia, for merchants, banks and payment channels to officially charge extra for payment by Credit cards...including airlines, city councils, body corporate managers.....so how do they get away with it?...

you may want to edit that...

Malaysians generally throw rubbish discriminately or even throw rubbish in our rivers (I'm using a very subtle example) but should this continue to be acceptable ? You claim Australians practice charging extra for use of credit cards and why do you think Malaysians should follow in their shoes in this example ? Japanese don't do it. Koreans don't practice this. Some countries in Asia are selectively practicing this in stealth but it remains illegal under MC and VISA rules. (This rule is reflected in all our local bank which issues MC and VISA cards)

I don't see why you are selectively choosing Australia as an example whereas there are many other countries does not practice this. (And it is not a good or right practice to begin with)

Standard practice doesn't mean it is right to do so. Standard practice doesn't mean it is a rule allowed by Mastercard or VISA. Check your facts before saying something should be accepted just because everyone does it.

Nope, I do not see why the word "offset" is flawed. Can to elaborate in detail what do you see that I misunderstood ?