Endless possibilities
Whatever it is, would be best to limit the number of credit cards.

Better to have more FDs..

What surcharge?

mind elaborate more? my CCs are earning more than my FD monthly

I think there was one a few budgets ago.. lots of noise about it and people cancelling cards

FDs earn money on money you have saved (and can still use).

CCs 'earn' money on money you spent. If you didn't spend that money you'd have more.

Of course, there's always required spending, but anything above that, no matter your CC give you 50% cashback, you're still not 'earning' money, just spending a bit less.

Haha how does that work.. I think that happened a while ago, there was a government surcharge on people holding more than one credit card, there was a lot of noise about it and people cancelling cards

CCs have 50% cashback? which ones? makes no sense, they would just lose money on it, since they only charge 2% or 3% how can they give anyone 50% cashback?

This post has been edited by wodenus: Mar 17 2014, 11:46 AM

Don't have la, max also 7% or so (AMEX on the Maybank2Kards). Just using example, even if 50% still doesn't mean you're earning money. So lagi at 1-7% you're not 'earning'.

Star reported that BR expects to grow its loans & deposits by 5-7% & net profit rose by 8.7%...then why wanna cut FD rate?

Wanna organise more makan sessions? Or offer more hampers & gifts? I doubted it...

Actually if there's 50% cashback.. can buy stuff and sell at 20% below market price, still make 30% lol

This post has been edited by wodenus: Mar 17 2014, 11:48 AM

Of course I knew that.

FD only hold up my 12 months emergency fund, the rest were diversified anyway.

Those spending are necessary, and my CCs didn't earn a penny from me so far.

I just wanna find out what's the so called surcharge or tax gonna be.

What is the surcharge ah? I'm only paying government tax of RM50 per card, is that the surcharge?

Have more FDs in bank no one will know except the bank

I also not very sure. Hopefully someone can explain on the surcharge as I currently have more than 1 CC also

lol what surcharge? Just additional Rm50 GST per card?

... the word here is expect as you highlighted, does not mean the can be easily achievable, but Islamic banking sector is about 45% of the financial market at this moment, and BR is the largest of them all - if I am not mistaken. Investor is also leaving Asia as a whole back to the west, as Yellen is expected to release bond buying, which means there is expected a lot of available asian currency floating in the market. Just like gold, it is useless, too much and devalue if it is lying around doing nothing.

** Purely my speculative thoughts here to nibble for the day. I am no expert -- ok ... ..

This post has been edited by esy: Mar 17 2014, 12:34 PM

i have 5 credit cards
i managed to waive all my GST charges for this year
3 cards with bank X
1 with bank y
and 2 with bank z

Wow, super heavy spender ?
I have 4 cards with 3 banks, but only manage to waive 2 of it from the same bank and I was threatening for termination for all 4.

What's your point?

no, not really that big of a spender.
as you can have guessed i am a big fan of getting free perks and free gifts (including $$$) via credit cards.
i try to make most of my purchases via credit card UNLESS i get the cheaper by paying cash.
i stretch my payments up to 24 months via 0% easy payments.
the vacuum cleaners, microwave oven, prosumer camera, air purifier and even the rug is earned via free gifts.
to me there is nothing free in this world. the free gifts also, i earned for it and it is the bank's way rewarding me.
i would use the banks cards as long as they give me the highest perks.

hence my signature...

also you don't always need to threaten the banks. it is not nice. we are nice people. we say the magic word "please"
like my case, i just present the points, why they should give me something free and they usually do.
i would explain to them how much business they will lose and how stupid they would be if they don't give such a small rebate of 500 for example.

This post has been edited by Berkshire Breakaway: Mar 17 2014, 02:37 PM

... BR is probably sitting on a huge pile of money as of now -- they don't need extra money. So, BR don't need to give more interest rates for depositor to come and put more money in their banks ...

i created fixed deposit in Public Bank this morning, but the accounts are not visible in PBE online banking, it does show the money that i withdrew from my saving account to create the FD though, do i need to wait for it to appear?

because i also created fixed deposit CIMB this morning, and i can already view the accounts in CIMB Clicks

This post has been edited by lightbringer: Mar 17 2014, 04:27 PM