Recently, a lot of credit card users who having more than 2 cards on hand, including me feel worry on government would impose a RM 50 service tax for principal card and RM 25 for the supplementary card. This of course create additional burden for the cardholders.
Credit card can provide convenience for consumers if they used wisely, they can make the purchases with nearly a month to pay for them before finance charge kick in. However, in reality it’s getting more and more consumers unable to take advantage of this benefit because they carry the balance on their credit card from month to month.
If you are one of them, I would advice to use the cash for your purchases rather than fall into credit card debt.
I myself will pay off the full amount without carry forward the outstanding. I have used to it on using credit card instead of cash, and I enjoy cash rebate on certain credit card like Citibank Shell card. Rebate like direct debit your cell phone bill, streamyx bill, insurance premium, petrol and etc…allows you to enjoy cash rebate up to RM35 per month.
I am thinking this way, if you have few cards on hand and you would like to reduce the numbers of credit card due to the service tax impose, retain the cards with cash rebate and it actually able to setoff the RM 50 service tax.
Really Good view!
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