Service tax will be imposed on new credit card approved from September 1 onwards.
For existing credit cards, it will be charged during anniversary of card (together with annual fees)
Debit card will not be charged SST of RM25.
Its time to review the credit cards you are holding. If you are not using, you may cancel before anniversary.
However, it is worth keeping some credit cards
- for use during purchasing of big items ($$$$)
- to get cash back ($$$)
- to create good credit score for loans
- to get special privilege (eg. access airport lounge)
- special discount for food, hotel (credit card usually better discount compared to debit card)
- and many more!
Its just RM25 per card, easily get back from the benefits offered. Annual fees are mostly waived :)
