MYR50 Credit card tax for existing users to start on anniversary date

Hi to my Malaysians folks who are holding or applying for new credit cards, I thought you might find this article useful if you are still wondering or pending whether and when to cancel your "extra" credit card to avoid being imposed the RM50(for principal card)/RM25(for supplementary card) charges starting from Jan 2010.

Here's the excerpt taken from:

http://www.malaysianbar.org.my

By Chan Li Leen & Joshua Foong

KUALA LUMPUR: Applicants issued with new cre dit and charge cards next year will have to pay the RM50 service tax upfront.

For existing card holders, the charge will be im posed on the anniversary date of cards.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, who confirmed this with The Star yesterday, said the Government would impose the service tax for credit and charge cards from next year.

"Existing cardholders will only be charged the ser vice tax through their issuing banks upon the aniversary date of the card.

"For example, if the card's anniversary date is in January, then you pay the tax in January. But if the date is in April, then you only pay the tax in April," he added.

Check out the link above for more details.

So high time to check on your anniversary date imprinted on your existing credit card!

Mine was Jan 2012 so I gotta quickly cancel it if I don't intend to keep that particular card!

Hope this is useful!

Cheers!