Currently I have 2 credit cards but only 1 is active. The other card is for me to use in situation like 'in case I need it'. Upon hearing the 2010 Budget Speech to impose a service charge of RM50 a year on each principal credit card and charge card; and RM25 a year on each supplementary card (effective from Jan 1, 2010), I feel like to cancel my second credit card. Even though, there are news that respective bank might absorb the RM50 and RM25 service charge, I think it wiser to cancel the credit card. After all, most probably I will not use it.
Hubby had cancelled his additional credit cards last week. My eldest brother had also cancelled most of his unused credit cards last two weeks.
How about you? Are you still keeping all of your credit cards or planning to cancel the unnecessary cards?