1. Late Payment Charges - A minimum of RM10 OR 1% of the total balance outstanding as at your statement date, whichever is higher, up to a maximum of RM100. Previously, it's a minimum of RM5 only..

2. Interest Free Period for Retail Transaction - You can still enjoy 20 days interest free if all your retail transactions of the previous month are fully paid. If you opt to pay partial or minimum payment, finance charges on retail transactions will be calculated from the day the transaction is posted to your card account. Previously, you can still enjoy 20 days interest free for the current month retail transaction, regardless of any amt you paid for the previous bill.

The Good - Tiered Pricing Structure (TPS)

1. For 12 Months Prompt Payment - The new interest is 15%. Previously the payment charges is 18% per annum.
2. For 10 Months Prompt Payment - The new interest is 17%.
3. Interest rate of 18% per annum if you did not fall under both items mentioned.

So What To Do..?

Let's see what choices do we have to overcome this problem. I mean, to avoid from this unnecessary charges & interest.

Balance Transfer

If you have a huge amt of outstanding balance for your credit card, you can choose to do Balance Transfer. Most of the banks offers Balance Transfer programs and it varies between banks. RHB also have it too..;-). Will dig it out for you if you want to know more (RHB only ye)

One of the best Balance Transfer program offers by Bank Islam - 0% interest up to 3 months installment, which can be illustrated as below:-

1. Outstanding Balance at Cetibank = RM1500

2. Balance Transfer at Bank Islam for 3 months = RM500 per month x 3 with 0% interest.

Emergency Fund

Prepare your emergency fund and make it in the form of Overdraft Facility. Use it during emergency only and pay back to this fund whenever you got extra!!. You choose it whether or not to have extra..;-)

Kelas Pengurusan Kad Kredit by URUSINSAN

http://www.urusinsan.net/event. Register to the forum if you want to know more.

Easy Payment Plan

1. Reduce the interest rate from 18% p.a. to as low as 5% - 9% p.a.

2. Reduce minimum payment up to 44.4%.

3. Settle the outstanding within 3 years.

4. Refresh record for increasing credit limit.

5. No processing fee.

6. 100% approval.

7. No Cash Advance FEE.

8. Can collect points

9. Allow transfer from one bank to another bank.

10. Good record in Bank Negara CCRIS.

11. In the case of early settlement, some bank only charge less than RM50. Some are FOC.

Tell me if you need further details on this..

Personal Loan

This is very the last choice!!. But still, better than the Credit Card interest. Make sure after you pay the cards, cut it off and throw it away..(and use another card..hehe..)

Conclusion

1. No impact for those who make prompt and full payment before the due date.

2. Spent and act smart. Do not make a habit by paying the minimum payment. Please do balance transfer which will give you as minimum as 0% interest of the amount transfered.

Below illustration tells a little bit abt what I have wrote..Hope it helps...;-)

Too small eh?..Sape nk kasitau je ler..nnti aku email..hehe