More Woe’s To Malaysians!

Posted on June 18, 2008. Filed under: News | Tags: , , , , |

From 1st July onwards, if you pay your credit card payment late , you will be landed with a whopping late interest charge.

Previously , you need only pay RM$5.00 but now , you will have to pay 1% of your “TOTAL OUTSTANDING BALANCE”

IF YOU HAVE AN OUTSTANDING BALANCE OF Rm10,000 IN YOUR CREDIT CARD A/C,

YOU WILL HAVE TO PAY A LATE CHARGE OF RM100.00!!!!!!!!!!! FOR THAT MONTH ONLY. It is not a JOKE!!!! This is for REAL!!!!

For the non payment of the minimum amount of Rm500.00 on the due date, you get fined a hefty Rm100.00 This is really preposterous and absurd!

This is an increased of Rm95.00 or 1900%!!!!!!!!Way to go Malaysia!!!!!

For every Rm1000.00 outstanding in your a/c, it is Rm10.00 up to a maximum of Rm100.00 in late payment charges.

If you pay on time for 12 months, you only get a discount of 3% ANNUALLY or 0.25% PER MONTH! Do you think it is easy to pay 12 months on time? The odds are stacked against you.

The only way you can fight back is DO NOT USE CREDIT CARD!!!!!!

If you miss by 2 months , you only get 1% discount annually. Whereas every month if you pay late , you have to pay 1% of the total outstanding.

If you do not pay 100% of what you swiped last month , there will not be any 20 days free interest for you . Interest would be charged on the day you swiped your cards.

This is very unfair and if you don’t like it , cut the credit card and use cash for all your payments. For those who cannot do so , woe to them as their bodies will be full of holes and blood guzzling out everywhere.

If you have more than one card then God help you ,for your debts will never end even until you die. You will be a perpetual slave to the Banks! Either that or you will be declared a bankrupt. Welcome to the growing ranks of bankrupts.It will become a badge of honour. LOL!

Spend now and be happy! And then later you will be awarded the bankruptcy order of merit.

The Central Bank or Bank Negara is making the banks richer at our expense. The call to offer incentive to those who paid promptly have been answered by those banks and now they have imposed more charges to offset those pittance they returned us. Giving you Rm1.00 but taking back Rm100.00 .This is like daylight highway robbery!

There is a company called E- Save which can turn your credit card debts into fixed long term 36 months installment. They will charge you 18% , a one off payment for turning your debt into a fixed monthly installment.Whether it is more advantageous or not , it will be up to you to decide. I think you can get some savings and it is more easier on your monthly payments.

Citi Bank is charging 0.5% for the late payments .

The best card to hold now is Diners Club International. It is a charge card and not a credit card. You get 55 days of non interest, if you swipe on the 1st of the month . For the statement date is 30th or end of the month and the due date is 25th of next month. You enjoy from 55 days to 25 days of interest free. The annual fees is also cheap ,only Rm35.00 and you can get it waive if you swipe 3 times a month. I got mine Diners co branded with Sushi Queen and can get Rm300.00 discounts when you eat at Sushi Queen.If you pay late , it is Rm15.00 penalty and so far, there is no change to this rule.

If you have an Ambank card, you can use the Ambank card online to pay the Diners Club card and get another 20 days of free interest.(Provided you settle all your debts 100% according to the new rule.)

With the recent petrol hike of 41% to Rm2.70 a liter and 63% for diesel to Rm2.58, we are all going to be cooked like frogs. I pump at Esso station (Rm2.62 per liter)for the savings, Smiles point and a free 500 liter mineral water for every Rm40.00(Previous old price. They may increase the points.)

We are all going to be sucked dry or cut into 18 or 36 pieces and nothing left.

Everything is soaring up and soon interest rates will soar and all house buyers and car owners will have to bleed to death.

With sky rocketing inflation, it will be going to outstrip our incomes and it will be getting more worse. Some will have second jobs as robbers and thieves or part time hookers to make ends meet.

Most of us will be diagnosed with terminal social cancer…

Don’t cry for me Malaysia!

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One Response to “More Woe’s To Malaysians!”

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[…] | Buy a Home City wrote an interesting post today onHere’s a quick excerpt From 1st July onwards, if you pay your credit card payment late , you will be landed with a whopping late interest charge. Previously , you need only pay RM$5.00 but now , you will have to pay 1% of your “TOTAL OUTSTANDING BALANCE” IF YOU HAVE AN OUTSTANDING BALANCE OF Rm10,000 IN YOUR CREDIT CARD A/C, YOU WILL HAVE TO PAY A LATE CHARGE OF RM100.00!!!!!!!!!!! FOR THAT MONTH ONLY. It is not a JOKE!!!! This is for REAL!!!! This is an increased of Rm95.00 or 1900%!!!!!!!!Way to go Malaysia!!! […]


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