I'd like to remind members that we do not allow any discussion regarding the mandatory RM50 GST that everybody has to pay. The RM50 GST is paid to the government and collected via the bank to the LHDN.

Such posts will be taken action swiftly and without notice.

If anyone wishes not to pay the RM50 GST then get a debit card, don't bother anyone here with your requests / ramblings about the fee because there are alternatives.

** End of 2012 / New Year Greetings **



It's that time of the year again for me to write that New Year Greetings

2012 in review (I may not have capture all of the essence in totality and this is just my personal opinion, do excuse me)

- MBB continues to dominate the local credit card market for local bank issuers. Thanks to their MBB's Maybankard 2 cards products which in my opinion swept the general market and their MBB VI and WMC which (I believe) equally dominate the Premier cards segment. It's interesting because a few years back they were nowhere and nobody (including myself) wants to be associated with their cards. Back then it was cool to own a Citibank card. Now, they are so large - I believe they even destroyed Citibank former domination of the local credit card market.

- BNM unsecured credit controls limits credit card growth. Both good and bad. Good to limit unsecured credit to new job market entrants. Bad coz gone are the days where you can use your old card as reference.

- Cash Back cards (OCBC TI and MBB Maybankard 2 Amex as such examples) are the "In thing". In these hard times, consumers look for value and the banks response. My personal opinion it's good to have such products but often I see consumers are not realistic with the expectation of "returns". I will always reassert my stand that banks are a commercial money making entity. It's scary that the Malaysian public such mentality over such "subsidies". Get real folks - these are the mentality of 3rd world countries. If you want Malaysia to be someday recognized as a developed country then let's all do our part.

- GST for credit card continues to exist and I'm not proud being the only country in the world which practices such. Folks, do read between the lines. The government are hard press for money and curbing credit card growth is just an excuse to collect money from the public. It's sad to see our hard earned money collected as taxes being used for populist subsidy policies. I hope GST will be removed by next year - my wish.

- The biggest snafu is perhaps SCB's review of their credit card positioning strategy. With the removal of the points and rebate system, it looks as if they are preparing to exit the market. But at the same time, they are also attempting to retain their customers. It's rather confusing as to where they are heading but I guess we will have to wait for a few months before SCB unveils their new loyalty programme. (If any) Their recent "Cash Giveaway" programme was simply mind boggling. It'll be interesting to see how will they shape up in the year 2013.


To end it all ... I look forward to the year 2013 with the hope that, we'll see more great products coming from the banks. (It better be ... otherwise it'll be very boring letting MBB have all the fun) And I wish for all members to continue using credit cards in a positive manner as a great financial tool.


Before I forget, a big and warm thanks to all contributing members - especially those who has been the pillar of growth for this forum. They are Gen-X , alexwsk, Human Nature, zenquix, WaCKy-Angel, fly126 (I noticed your contributions in 2012), (my fellow mods) brother MilesAndMore & boon, ronnie, winner, David83, cenkudu, wshoh, chemistry, cute_boboi and not forgetting others who has equally contributed as well.

Happy New Year Folks !

This post has been edited by hye: Dec 31 2012, 08:31 AM

I can see you are struggling to understand the interest charges although it is straight forward. I'll be frank as to advise you NOT to have any debts (if this is your intention to ask) via credit card. Pay in full and the interest can be 10x than what it is right now and it wouldn't affect you at all.

@singdreams
Yes ... I agree with Bro Miles. This is a decision you'll probably regret years later. Take the Personal Loan rejection as a sign you are not supposed to dig this debt hole. We would strongly advise you to stay off credit card if this is your intention.

The bank don't make profit from you at all, really they don't if you pay in full.

Here's how the bank will make money -
1. Every single transactions swipe with the merchant - small percentage goes to the bank, ranges from 2%-3%.
2. Interest from rollover balances - if you don't pay in full.
3. Misc Fees - Annual Fees but these days it's waived anyway, Card Replacement Fees but this is rare, etc. (Very minor contribution if there's any)

It's the No.1 followed by No.2. So, are you fully satisfied and completely convinced (and your sister) that the bank doesn't make money from you if you pay in full ?

Well at least he was honest about his intention.
john123x I trust you are a grown up and would like to be treated that way. Please use your credit card like a grown up person. If you have such mindset about how to use your credit card ... honestly you don't deserve it!

Wishing all our celebrating faithful readers Happy Lunar New Year and Holidays ! (Where ever you are in the world!)

I'd like to extend my thanks to all your valuable contributions and support to this thread. Hope this forum will continue to contribute positively to all the folks out there. My warm greetings to my fellow mod MilesandMore and the senior contributors of this forum Gen-X, ronnie and everybody else whom I'm unable to name. (Sorry folks!)

May this year brings continued good luck and prosperity to you guys and girls. Do drive carefully during the festive seasons.



This post has been edited by hye: Feb 10 2013, 03:56 PM

In my opinion what transpired was that the "Father" passed away and the surviving family/estate went to the bank to close everything as part of the closure process that everyone would do. (Bank accounts/credit cards etc)

During that process, if the credit card has any outstanding balances, the bank would first attempt to offset it with any balances from either the Savings or Current account of the deceased. The account would then be successfully closed if the balance is sufficient to cover the credit card outstanding balance. (Balance from the Current/Savings would then be surrendered to the deceased estate)

There will be complications if the balance is not enough to cover which is the case highlighted here. If such were to happen, the bank will then proceed to claim this amount from the deceased estate and I would to note that the banks have every right to do so under the Malaysian legal system. It looks like in the above, it is further complicated by the possibility that the deceased may have "left" a lot of outstanding balances.

I am of the opinion that the blame should not be shifted over to the bank as the responsibility for paying your credit card bills has always been the sole responsibility of the card holder - irrespective whether you are young or old. In the story above JJM1975 wanted the banks to be accountable for granting a credit card to a pensioner but what if the deceased was a young man ? Or a middle aged man ? I don't think it is a situation of how old you are (some pensioner may still be working) but how all of us treat unsecured (or even secured) credit facility/debt. We have seen this story being posted in this forum several times in the past along side with the many stories about how many go about spending beyond their means with piles of credit card outstanding.

What the deceased could do is to negotiate with the bank on a payment schedule if they could not pay it in one go. And to note, it might be highly possible to ask for the interest to be freeze and the amount would not grew over time anymore. After all, it is to the banks interest that they are able to recover and close such cases successfully. However, if one thinks that they can outrun the bank in any means ... please reconsider - the provisions in the Malaysian law unfortunately does not see it that way and I would advise anyone to be accountable for their own debt for the sake of their loved ones. Be prepared for an exhaustive legal battle (you may interpret every single word in the book with your lawyers) if the surviving estate choose to fight it out with little chance that the outcome will side their way.

Well ... I shall leave further debate of this situation to the members.

Different banks have different T&C applied to their customers. I am not surprised as I have read such T&C before for my own cards.
Before you go about disputing this, please refer to your Ambank's T&C regarding such charges.

If such clause exist then I hope you will accept responsibility over your own oversight.

And the reason we don't bother about the calculations because we strongly discourage it due to the high interest + compounding interest.
Please ... it's an honest advise although it sounds not very helpful.

Such option might be possible if you approach the bank via AKPK. (Means you are in deep financial trouble already) And AKPK will impose rules to you in order for you to do so. Would this be something you want to consider ?

Next time, please be financially responsible and use credit card accordingly .... had you done so, you wouldn't have any outstanding balance and you can cancel your card anytime you like without being tied to and terms imposed by the bank.

Temporary block, you need to unblock it within 24 hours or the card will be automatically cancelled. (This is MBB practice)
For other banks, you may check what is the policy.

Next time, under no circumstances give others access to your credit card. One of the major dangers of credit card ownership ... Negligence.

On the subject of Premium/Premier credit cards,

I have just noticed that there's another class above Mastercard World which is the Mastercard World Elite - Link. Check it out to anyone who's curious.

This post has been edited by hye: Mar 12 2013, 10:32 PM

Not really. Because I had on at least two occasions thought I lost my MBB credit card and call the bank immediately.
They temporarily block my card and they told me to call again if i found my card within 24 hours. That's why I am certain of the procedures.

Effective May 2, 2013. IBG transactions done via electronics means / e-Banking will only be charged 10 cents. No more reasons for anyone to give the excuse of not wanting to use IBG to pay their credit cards electronically. Cost of using cheque will go up next year starting April 1, 2014 - each cheque will now be charged RM0.50

News - TheStar 20130320

This post has been edited by hye: Mar 20 2013, 07:27 PM

With all the fraud cases going around, I'd suggest you to call in and check in their system how many credit cards exist.
It could be a case of the mobile number being mistakenly entered similar to yours but you need to safely eliminate that probability. Good luck!

I am sorry to hear for your loss.
I'm afraid that unless your father subscribe to the insurance, the surviving estate are still accountable for your father's unsettled credit card debts. I'd advise you to check with the bank and see whether your father had signed up for the insurance or not.

I think you probably have a "Special" note upon yourself that's visible to all banks but not known to you.
As suggested earlier, please go and check your CCRIS and whatever else. Speculating here won't help you or your status.

timeonce I wish to be polite but there's no such thing as accidentally apply for a credit card. There's an application process, a form, provide details and documents plus your gf need to sign on the dotted line. I disagree if you want (or your gf) to call it accidental.

Once the card approved, the RM50 GST is applicable. Card and account is active and your gf need to go through the process of cancellation. Please ask her to call the bank to initiate the card cancellation process.

I think you need to keep yourself updated with the times ... especially with the paying methods.
You can use IBG which is essentially available via all online banking facilities. Starting next month, IBG fees will be slashed to just RM0.10 (What can you buy with RM0.10 these days anyway?) per transaction - it's even cheaper to pay your credit card online than travelling to the bank!