Friday, 18 March 2011

Bank Negara sets new rules for credit cards

Have you read the news yet?

Bank Negara sets new rules for credit cards
That's our Central Bank.

What signal has this implied?  That Malaysians do not know how to spend prudently and wisely?  Hence the high level of household debts?

Gee, I can't say more, but somehow it implies to me that the value of my bring home income is being cut 1/3 of its value.  No doubt inflation is high.  A bread which used to cost RM0.60 is now RM1.80.  Somehow, during my lucky years with pay increments, these were immediately eroded by bad boy inflation. It is only the early year of 2011, why am i feeling like a pauper instead of lavishing on items which i have eyed upon last year?  Where is the value that's suppose to enhance my standard of living?

How many credit cards do you have?  Frankly speaking, I have more than 2.
Are credit cards your friend or foe? Smiley

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