AMEX is currently going on promotion where card holders will enjoy 15% cash back at all American Express Card accepting merchants in the selected malls, with an exception to the supermarkets, hypermarkets, hotels and their F&B and retail outlets within the mall.
Promotion is valid from 1 November 2009 to 28 February 2010. All American Express Cards issued by Maybank and Maybank Islamic are eligible to enjoy this promotion. However American Express Corporate Cards are not eligible. SMS or registration is not required.
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On 23rd October 2009, Prime Minister Datuk Seri Najib Tun Razak has tabled Budget 2010 with the theme “1Malaysia, Together We Prosper”.
These are the main highlights that interest me in the area of Personal Finance
- 5% property gain tax will be imposed on gains from the disposal of real property from Jan 1, 2010. Existing tax exemption will be retained for gifts between parent-child, husband-wife, grandparent-grandchild.
- A service charge of RM50 a year to be imposed on each principal credit card and charge card and RM25 a year on each supplementary card including those with free for life effective from Jan 1, 2010.
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CIMB recently launched a new product called CIMB Prime plan. This product is targeting to a segment of customers who are at the stage of accumulating wealth. It is Ideal for graduates, young professionals, managers and business owners with household monthly incomes of between RM7,000 and RM8,000.
CIMB Prime Plan is offering a comprehensive package of banking products and lifestyle benefits including interest bearing saving account and credit card. With Prime Savings Account, customers can earn up to an additional interest rate of 1 per cent a year for a minimum deposit of RM200 a month. Customers also will be given standby overdraft facility and a home financing option that allows customers to re-price their housing loan every five years and enjoy preferential rates.
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Why it’s not always cost efficient to use personal loan to clear credit card debt
The subject matter has become a common scenario among credit card debtors. Taking a personal loan to settle credit card sales method has also been adopted by banks in pushing their personal loan product. But is that wise? Key question – is the total sum paid to settle the personal loan actually less than the sum which would otherwise be paid to settle the credit card debts?
For that, a few factors need to considered. Firstly, the tenor; while credit cards have an indefinite tenor with a minimum of 5% of outstanding balance to be paid, a personal loan offers a range of between 1-7 years for repayment. This sounds better. Secondly, and more importantly, what is the actual annual interest rate of the personal loan (which differs from the nominal fixed rate quoted for personal loan) as compared to the annual interest rate of the credit card, which is about 18%?
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After a successful promotion on PB Smart Rebate 1 in June until September this year, Public Bank come back with second version of it. This promotion will run for 5 months starting from 1st October 2009 until 28th February 2010.
The second campaign in different than previously where card holders will earn 10% cash rebate on grocery when they spend at least RM500 on petrol in October & November 2009. In December 2009 until February 2010 will earn 10% cash rebate on petrol if the spend at least RM500 on grocery.
All you have to do if interested to participate in this promotion is to register your Public Bank credit card through SMS. To register send SMS through your mobile number by typing “PB {space} 16-digits card no” to 33933.
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