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andre128
23-10-2009, 11:25 AM
which type credit cards got better offer or promotion or free gift upon application?

now i got :-

1) maybank sony - i've bought LCD TV, Vaio got free 1 year extended and 10x points, easy payment mostly the shop like maybank 12 mths, citibank only 9 mths

2) citibank - since 1999 but dont know why since last year till now they have increase my credit limit 3 times (300% compare to last year)

3) citibank airasia - just got it yesterday, apply on Sept with free luggage but just submit last week, dont know got luggage or not now :mad:

just cancel last month

1) Alliance Bank IKEA - bullsh1t card, this card is useless, what they offer is for early bird, always no stock even 1 day for member days unless i go before 10am

cards use before... already cancel

1) HSBC - too bad no online payment only for saving acc

2) OCBC - cancel it when received this card cos apply 1 get 2 cards (as usual) but when cancel 1 they said no way so cancel both.

3) RHB - many years ago, get 2 cards when housing loan

4) Standard Chartered - n years ago

Sentinel
23-10-2009, 11:46 AM
All one need is just 3 cards - a Visa card, a Master card and a charge card. Any card is the best if they satisfy 3 conditions:

i) no membership / subcription / annual fees;

ii) competitive interest rate based on closing / reducing balance (not on previous balance);

iii) acceptable widely and detailed / up-to-date monthly statements.

To me, if the cards meet these conditions, I consider them good cards. Especially those with "automatic RM1 million air travel insurance". Coz if ever the plane falls off the sky, the family is covered with a RM1 million pay-out!

andre128
23-10-2009, 11:55 AM
All one need is just 3 cards - a Visa card, a Master card and a charge card. Any card is the best if they satisfy 3 conditions:

i) no membership / subcription / annual fees;

ii) competitive interest rate based on closing / reducing balance (not on previous balance);

iii) acceptable widely and detailed / up-to-date monthly statements.

To me, if the cards meet these conditions, I consider them good cards. Especially those with "automatic RM1 million air travel insurance". Coz if ever the plane falls off the sky, the family is covered with a RM1 million pay-out!


now i never pay annual free, just call for waive when they charge me, and online banking is important to me, i can check before the statement out

i just want find a card got discount or whatever cos i cant try it all

Sentinel
23-10-2009, 12:00 PM
Automatic air cover is important for business travellers... it saves you about USD25-50 each trip if you buy air tickets and inform your travel agency about your automatic cover... especially overseas.

If you lose your lugga on transit etc, you'd get free hotel lodging plus new clothings and food...

bugbear
23-10-2009, 01:14 PM
To me having a card nowadays is quite a necessity. Thus for me I only have one card. That is my preferred card from Citibank since 1997. As I am not a big user, I have steadfastly stick to only one card unlike people like sentinel who are big user. Despite the temptation to own more than one card, so far I have not bitten the lure and i am quite happy with it.

The other thing is that we have to be discipline in paying the FULL amount dutifully at the end of the month. Period.

andre128
23-10-2009, 01:39 PM
so anyone use card like citibank giant, citibank shell, i hear the cash rebate they mean is when you dont make the payment in next statement they will rebate few %, so if i pay every months no rebate.

i hear from citibank sales person before

Sentinel
23-10-2009, 04:07 PM
To me having a card nowadays is quite a necessity. Thus for me I only have one card. That is my preferred card from Citibank since 1997. As I am not a big user, I have steadfastly stick to only one card unlike people like sentinel who are big user. Despite the temptation to own more than one card, so far I have not bitten the lure and i am quite happy with it.

The other thing is that we have to be discipline in paying the FULL amount dutifully at the end of the month. Period.
Hey Bugbear, where did you get the impression I have many cards or I even use them as a big spender? I merely stated the criteria of a good credit card. Relax lah brader... no need for shadow boxing on net lah... :o

KahHeng
24-10-2009, 12:33 AM
To me having a card nowadays is quite a necessity. Thus for me I only have one card. That is my preferred card from Citibank since 1997. As I am not a big user, I have steadfastly stick to only one card unlike people like sentinel who are big user. Despite the temptation to own more than one card, so far I have not bitten the lure and i am quite happy with it.

The other thing is that we have to be discipline in paying the FULL amount dutifully at the end of the month. Period.

Yup, NEVER be a revolver.. interest is greater than Ah Long's.

Btw, I keep 2 cards. Reason, just incase 1 card fails, you can use the other.. I do not see a need for more than 2 actually.. Having 1 card is ok.. but you would never know... when emergency comes knocking and that 1 card fails.. so, at least 1 level of backup lah.. :P

USJ27Resident
24-10-2009, 12:42 AM
1) Alliance Bank IKEA - bullsh1t card, this card is useless, what they offer is for early bird, always no stock even 1 day for member days unless i go before 10am....

:D ... I so love how you described this card...

DATO BRIDGETTE LAI... hope you wud be reading this... instead of everytime (trying to) look good in the newspapers... grinning... :rolleyes:


so anyone use card like citibank giant, citibank shell, i hear the cash rebate they mean is when you dont make the payment in next statement they will rebate few %....

NEVER believe what a card promoter says... period. This cash rebate crap works like this: When you don't pay in full - they will WHACK you the interest... then give you a [smaller] rebate like as though that rebate is a HUGE amount... furthermore, read the fine print - cash rebate only applicable whe you DON'T pay the outstanding amount if full... Like CITIBANK think that all their customers are blur sotongs... mebbe they are rignt too... :rolleyes:

ahtal68
24-10-2009, 02:06 PM
which type credit cards got better offer or promotion or free gift upon application?

cards use before... already cancel

1) HSBC - too bad no online payment only for saving acc



Are you sure? I have been making payment from Visa to some of my utilities eventhough I have a saving and current account with them.

totoro
24-10-2009, 02:30 PM
IKEA card is awesome... free coffee every single day, mate... if you drink 2 cups a day that's RM6 worth, and multiple by 365 days...

USJ27Resident
24-10-2009, 03:30 PM
IKEA card is awesome... free coffee every single day, mate... if you drink 2 cups a day that's RM6 worth, and multiple by 365 days...

hmmm... dunno how you do it but ONE card gets ONE coupon per day... for ONE cup... unless you got "WINK!" "WINK" at the cashier kut???... :p

... guess with the new budget - the credit card industry is gonna go thru a helluva credit card crunch!!! [pun intended!! :D ]

totoro
24-10-2009, 03:47 PM
hmmm... dunno how you do it but ONE card gets ONE coupon per day... for ONE cup... unless you got "WINK!" "WINK" at the cashier kut???... :p

... guess with the new budget - the credit card industry is gonna go thru a helluva credit card crunch!!! [pun intended!! :D ]

it's unlimited free refill mah... lol... enjoy the coffee while waiting for time to pass, read a book, or chat with friends...

patrick
24-10-2009, 06:26 PM
Maybank card...farewell to thee!! Had their card years ago but they gave me nightmare with their service, even after I terminated it.

Recently I thought I give them a chance to redeem themselves when I applied for their Maybank Sony card. Gave them copies of my credit cards such as Citybank whom I have been with for donkey years, and often with a monthly spent of more than 5k and settled in full without fail, and guess what? They rejected my application!! Wow!! So..that tells so much of their investigative work on new application! It's their loss really and I think it's a blessing in disguise considering the new budget.

bslee
24-10-2009, 11:49 PM
and often with a monthly spent of more than 5k and settled in full without fail, and guess what? They rejected my application!!

Of course lah... THEY CANNOT EARN FROM YOU, even if you spend 1mil a month...because you settle in full.....almost right or wrong?. They just about prefer those who pay by instalment, so they can whop you on the interest.
The card institution can be very lucrative if a large percentage pays by instalment.

patrick
24-10-2009, 11:54 PM
Of course lah... THEY CANNOT EARN FROM YOU, even if you spend 1mil a month...because you settle in full.....almost right or wrong?. They just about prefer those who pay by instalment, so they can whop you on the interest.
The card institution can be very lucrative if a large percentage pays by instalment.

But BS, they still make on the merchant charges of about 2% lah!

BMW9700
25-10-2009, 09:42 AM
Of course lah... THEY CANNOT EARN FROM YOU, even if you spend 1mil a month...because you settle in full.....almost right or wrong?. They just about prefer those who pay by instalment, so they can whop you on the interest.
The card institution can be very lucrative if a large percentage pays by instalment.


i know of someone who has balance on his cards for few years now..these vultures (read credit card co) all lining up at his doorstep and now offered him more than 20 cards with total credit limit of 400k..no income document, just that he owes them cards and is a good paymaster...

bslee
25-10-2009, 10:34 AM
But BS, they still make on the merchant charges of about 2% lah!

I think, I said I think, they're more interested raking in the interest on the outstanding dues that works out to far higher percentage. As I said, card institutions are a lucrative business, win win at merchant and user.
Whatever it is, I think lots of people are trapped with outstanding dues, overspending more than they can afford, getting into trouble. I think the garmen ONLY SEES THESE and consider it alarming so there's punitive measures to curb it. Meanwhile the prudently managed card users are victimized indirectly by these measures. (a general and broad statement).
What the garmen is doing is UNWISE!..very unwise.
Could I say IF the garmen comes out with revoking the instalment plan, pay up now to settle all, those who frankly can't afford to pay full monthly amount and higher income bracket to use the card..I leave it to your imagination what can happen to thousands, if not hundreds of thousands of rakyat getting into trouble to settle the issue.

Carolrasiah
28-10-2009, 02:34 PM
Alexander Nanta Linggi (BN-Kapit) said most of the credit cardholders in the country were issued with the card without much hassle although they could hardly afford the facility.

"Let the card issuers bear the service tax of RM50 because most of the cardholders are from the low-income group who need the card for various reasons like buying basic necessities," he said when debating the 2010 Budget in the Dewan Rakyat here today. oh boy ...................i like this guy!!!! :)

http://www.dailyexpress.com.my/news.cfm?NewsID=68457

Jey
28-10-2009, 02:43 PM
I think the banks are rattled that most will start cancelling their cards hence depriving the banks from revenue. There are already talks about absorbing the RM 50 tax by the banks.

http://biz.thestar.com.my/news/story.asp?file=/2009/10/27/business/4981459&sec=business

Sentinel
28-10-2009, 02:48 PM
Yup... the banks will be rattled alright...

So too will the developers re the 5% on real property gains tax... already many who put their booking fees on office lots at One City at Putra Heights are having second thoughts... most of these fellas are hoping to make a quick buck selling their properties when the project is completed in 2 yrs' time....

I am betting my last ringgit the 1PM will be making a U-turn soon...

Carolrasiah
29-10-2009, 02:13 PM
Deputy Finance Minister Datuk Chor Chee Heung said the target was “to limit the number of credit cards” in circulation.


http://thestar.com.my/news/story.asp?file=/2009/10/29/nation/4994714&sec=nation
He said the policy was not to increase the Government’s coffers as it would only amount to an annual revenue of a few hundred million ringgit.

what say u?

Sentinel
29-10-2009, 03:08 PM
The way to limit the number of credit cards in circulation is to raise the qualification level to RM36,000 per annum very strictly.

firefox
29-10-2009, 03:17 PM
Deputy Finance Minister Datuk Chor Chee Heung said the target was “to limit the number of credit cards” in circulation.




To most RM 50 tax is not going to limit the number of credit cards, buy on hutang basis is a way of life here.

totoro
29-10-2009, 04:26 PM
the thing about credit cards is that they don't pool your credit limit across banks. so although your safety limit is RM10k credit limit, you can apply for 10 cards and get a credit line of RM100k... right?

the govt should work from this angle.

lohmee
29-10-2009, 04:32 PM
the thing about credit cards is that they don't pool your credit limit across banks. so although your safety limit is RM10k credit limit, you can apply for 10 cards and get a credit line of RM100k... right?

the govt should work from this angle.

Well, the current group of cabinet ministers are not exactly the brightest bunch of "lightbulbs" in the land, if you know what I mean :D If they are, things will be well-thought out before hand and discussed with banks, credit card companies and consumer associations instead of catching everyone with dropped jaws !! SIGH .... now we wait for flip-flops or banks doing "miracles" .... with a Dec 31st deadline - very very "smart" !! IMHO