in the past few days, I've canceled 3 of my credit cards (Standard Chartered & RHB) as I have not been using them all these while, and I see no point in keeping them. rather than risk forgetting to cancel them before the banks charge me with those annual fees, I canceled them first instead.
punched a few holes through the magnetic strips and smart chips on the cards, and send them back to the bank.
Also, it is a known fact that having too many credit cards, be it active or not reduces a person's financial credibility to the banks when it comes to applying loans, typically car loans and house loans. Therefore, canceling a few, and keeping just one or two which one uses all the time would be more than sufficient. I'm going to cancel another few more soon - namely my credit cards from Citibank, Alliance Bank, HSBC and two (Mastercard and Amex) from Maybank and just keep my CIMB and Maybank Visa.
punched a few holes through the magnetic strips and smart chips on the cards, and send them back to the bank.
Also, it is a known fact that having too many credit cards, be it active or not reduces a person's financial credibility to the banks when it comes to applying loans, typically car loans and house loans. Therefore, canceling a few, and keeping just one or two which one uses all the time would be more than sufficient. I'm going to cancel another few more soon - namely my credit cards from Citibank, Alliance Bank, HSBC and two (Mastercard and Amex) from Maybank and just keep my CIMB and Maybank Visa.
wow...you sure have lots of credit cards huh. Amazing... :p
ReplyDeletehahaha... yealor... now need to cancel them before they start charging me all those ridiculous annual fees... :p
ReplyDelete