Monday, March 16, 2009

I Destroyed Four Of My Credit Cards

Today I am feeling good as I terminated 4 of my credit cards. Three of them, I never used them before. One of them, I terminated it because I hate to see the administrative charges of RM6 when I use the card for less than RM50/month. Furthermore, I didn't see the cash rebate incentive for this particular card. And it's very inconvenient for me to make my credit card payment as this bank has limited payment counter, only 2 cash deposit machines in Kuching town. And these 2 machines were located at the same location.

Well, at first I thought I can just terminate my credit cards by sending my termination request through email. I was wrong. Upon sending my emails to the related banks, within 2 working days, 3 of the banks replied with a termination form. I had to fill in the termination form, provide them the reasons for my termination and also I had to punch a hole in the middle of the microchip on my credit card, and cut through the magnetic swipe strip on my credit cards. I completed all as requested and had sent the termination form and the cut-through-credit-cards to the banks. On the termination form, the banks stated clearly that, they reserved the right to charge RM25 per card if the credit card were not returned to the bank upon termination.

Only one of the credit cards company accept my request through email. The customer service of this bank called me 3 days after they acknowledged receipt of my termination request. Still the customer service asked me for the reason of the termination and advised me to continue using the credit card. Of course I rejected his offer in a nice way. He said he'll process to deactivate my account and advised me to destroy the card on my own.

Perhaps you're wondering why I applied for the credit cards even when I didn't use them. For all of my credit cards, except my PB credit cards, I was forced to sign on the credit card application form. Ok ok, not forced. Actually the credit card consultants came to our office and talk, and talk and talk till I have no choice but to support them by applying for their cards. In some cases, the credit card consultants were friend of my friends or colleagues. So, they just asked me to do them a favour (They need to hit sales target). Other reasons would be because of the attractive free-gifts, petrol rebate and free for life membership.

Anyway, I promised myself not to simply sign up anymore, unless I really want the credit cards. I hate this trouble to terminate the credit cards.


  1. Tell me about it. We have the walk-in credit card promoters from time to time, usually I would just reject nicely because I don't want to waste their time. It's so easy to sign-up, but the termination.. difficult. Someone I know, kept getting the monthly statement of '0', after he terminated it like, 3 months ago? Numerous calls & promises made, yet again.. sigh..Think twice before signing up.

  2. Hi Ching Ya, yes, agree with you. Must think twice before signing up. I still have another 2 cards to terminate... Really dislike the termination process :(