Credit & Charge Card Annual Service Fee | Ramblings of an e-trader

Wednesday, 2 December 2009

Credit & Charge Card Annual Service Fee

There's another month to the New Year where a RM50 annual service fee will be imposed on each credit card and charge card while RM25 annual service fee will be imposed on supplementary cards.

Even though there's still just one month to go, we still have no concrete update yet if there really WILL be a service fee on all credit and charge cards, or if all these noise that we are making has made the Government do an about-turn and thinking twice if this service fee will be imposed at all, if it will be, will the service fee for the first card, or two, be waived?

I personally think that it's a dumb idea to restrict credit card ownership. Of course, if you are thinking from the revenue point of view, this is an excellent idea but I am thinking from the consumer point of view, from the average person's point of view. I AM an average person, after all, and I surely know what a burden the RM50 annual service fee makes for us.

Anyway, if you have multiple credit or charge cards have you decided on which cards to cancel and which to hold on to?

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