I have been thinking of cutting down the number of credit cards that i am holding ever since last year. I am holding 5 cards and only 2 of them are frequently used. Though i have been thinking of cancelling some non active cards, but i have procrastinated that for a while as there is no harm of keeping the additional cards "in case they will be needed one day".
with the budget 2010 announcement of having to pay RM50 each card as government charges, I really have to put my thought into action soonest I can.
Though I am enjoying discounts or rebates from some of the cards, but the amount of rebate will never be accumulated to RM50 per year. There is no point paying the extra to government without getting the real benefit of it.
I don't care about the rational behind the RM50 charges. I only care about the amount that i need to fork up in owning the cards. It is just not worth it.
I am glad that our leaders have found out a new way of increasing country's income. RM50 per card X 1 mil cards in circulation, it would be RM 50 mil sum of money.
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