I bet you have heard about the budget 2010 and one of the highlight, I believe that will caught everyone attention would be :-
A SERVICE tax of RM50 will be imposed on EACH principal credit card every year beginning Jan 1. For EVERY supplementary card, a RM25 service tax will be charged yearly.
Reason being :- reduce number of card == spend less == less debt. Still, we need to pay Rm50 if we own 1, Rm100 for 2 and you count how many you have… So, bank have waived the annual fees, will they waive this one??
Another suggestion :-
Allow only those earning a minimum salary of RM5,000 a month to qualify for cards.
Ahhh!!!! Meaning I will not get one until at least I am 35 years old if only I could maintain a 10% increment each year. So, I will need to really squeeze my wallet tight tight… No over spending… Good news or bad news?
With the incremental interest style and next year “NON-waive” service tax charges, I think we should buy a bigger purse/bag to carry more cash. And with that saying:- exposing our self as a potential target? You know what I mean😀
So, what about you? How many card do you have? Cash or credit card???