Credit card is always the convenience cash replacement. This is always true especially at travel. Furthermore, with the recent snatch and run incidents, credit card will minimumly "protect" in some sense. This is provided the cancellation of credit card is done immediately before next swiping process.
The government decision to impose RM50 per credit card would not be a good idea at all. This tax should be imposed on bank as the card is issued by the bank and "forcefully" urging the client to spend with the card. The bank policy to almost freely give away credit card and thus result the bad debts should be the responsibility of bank as of not careful in client selection. Why the bad debts due to credit frault has to been divert to customers instead. I would want to see which bank will realize their responsibility and contribution to these bad debts and would subsidize the credit card tax. I would wait till the last week of Dec to cancel the excess cards.
I will choose to have the bank that has the best service to maintain the credit card. Or else, sorry, you are on the list of cancellation.
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