What are the latest updates on RM50 credit card service tax in Malaysia? Recently, there are a lot of people deciding to cancel their multiple credit cards and keep only one or two cards due to the tax charges.
Finally, we have received good news from MBF! They will subsidize the service tax for us. What we need to do is transfer our outstanding balances to MBF Cards and enjoy:
- 0% interest for 12 months
- RM50 credit card service tax subsidized
- No processing fees
Some features of Power Balance Transfer:
- Balance Transfer at 0% interest for 12 months shall be capped to a maximum of RM7,500
- RM 20 service charge will be imposed if monthly spending on your MBF Card less than RM300
Approved Balance Transfer amount = RM7,500
Monthly transaction on MBF Card = RM300
Total outstanding balance = RM7,800
5% minimum payment to card = 390
New Outstanding Balance = RM7,410
Who Should Apply MBF Cards Power Balance Transfer?
Since RM7,410 is less than the approved Balance Transfer amount of RM7,500, therefore, this outstanding amount will not attract any interest. In another word, the MBF Cards Power Balance Transfer promotion is best for those who have outstanding balance below RM7,500.
Promotion is valid from 1 December 2009 to 28 February 2010. For more information and full Terms & Conditions, please login www.mbfcards.com