Maybank Credit Card

noreply@blogger.com (Clarence) — Tue, 12 Jan 2010 08:53:00 +0000

How Malaysia Payment Systems Works

noreply@blogger.com (Clarence) — Tue, 12 Jan 2010 07:37:00 +0000

In the next few weeks, we will concentrate on the information of Charge Cards, Credit Cards, Debit Cards and Prepaid Cards of American Express, Diners Club International, JCB (Japan Credit Bureau), Master,and Visa.

Beside that, we will also touch the information of ATM cards and ATM Debit cards of GIRO, HOUse and MEPS.

Before we begin, we would like to tell you briefly the payment systems in Malaysia.

Cash $$

Cash is the most popular payment systems not only in Malaysia, but worldwide as well. When you buy a cane of drink or pay for a LRT ticket or even you donate a few ringgit, you uses your cash. So, cash is the most important payment system in Malaysia.

Cheque/Check

Cheque is another payment system popular for business transaction or any business related. But some of you may uses cheque as payment method for newspaper or magazine subscription, pay insurance, pay tax or send money for friends.

System Barter

This is a medium or system which goods or services are directly exchanged for other goods and/or services without the use of money or cash. This seems to be very rare and limited uses in Malaysia. But in some countries, there are a kinds of website to let their users exchange the things they needs with the things they want to exchange through the system barter, and this is very popular.

Payment Card System

There are a lots of payment cards, such as Credit Cards, Debit Cards, Charge Cards, Prepaid Cards and ATM-Debit Cards issued by American Express (Amex), Diners Club International, JCB (Japan Credit Bureau), Master, Malaysian ElectronicPayment System (MEPS), and Visa.

Malaysia e-Debit ATM Cards Issuer (Banks)
e-Debit ATM (MEPS)
Affin Bank
Agro Bank
Alliance Bank
AmBank
Bank Islam
Bank Rakyat
CIMB Bank
EON Bank Group
Hong Leong Bank
Maybank
Bank Muamalat
Public Bank
RHB Bank

Malaysia Charge Cards Issuer (Banks and Non-Banks)
Charge Cards Issuer

Al Rajhi Bank
Diners Club
HSBC Bank
iSynergy (Only for Coporate)
MayBank
MBF Cards
Public Bank
United Overseas Bank

Malaysia Credit Cards Issuer (Banks and Non-Banks)
Credit Cards Issuer

AEON Credit Service (M) Berhad
Affin Bank Berhad
Alliance Bank Malaysia Berhad
AmBank (M) Berhad
AmIslamic Bank Berhad
Bank Islam Malaysia Berhad
Bank Kerjasama Rakyat Malaysia Berhad
Bank Simpanan Nasional
CIMB Bank Berhad
CIMB Islamic Bank Berhad
Citibank Berhad
EON Bank Berhad
Hong Leong Bank Berhad
HSBC Bank Malaysia Berhad
HSBC Amanah Malaysia Berhad
Malayan Banking Berhad
Maybank Islamic Berhad
MBF Cards (M’sia) Sdn. Bhd.
OCBC Bank (Malaysia) Berhad
Public Bank Berhad
RHB Bank Berhad
Standard Chartered Bank Malaysia Berhad
Synergy Cards Sdn Bhd (Only for Corporate)
United Overseas Bank (Malaysia) Berhad

Malaysia Debit and Prepaid Cards Issuer (Banks)
Debit And Prepaid Cards Issuer

Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
Affin Bank Berhad
Alliance Bank Malaysia Berhad
AmBank (M) Berhad
Bank Simpanan Nasional
Citibank Berhad
EON Bank Berhad
Malayan Banking Berhad
Maybank Islamic Berhad
Public Bank Berhad
RHB Bank Berhad
TuneMoney Sdn. Bhd. (Cards issued by CIMB Bank Berhad)
United Overseas Bank (Malaysia) Berhad

Tomorrow we will begin to talk about the issuer Banks of American Express informations

Related posts:

1. Service Tax Chargeable When Credit Cards and Charge Cards are Issued or Renewed
2. Happy New Year 2010
3. Malaysia Mobile Prepaid
4. Malaysia Mobile Postpaid

How to Reduce Credit Card Debt

noreply@blogger.com (Clarence) — Mon, 11 Jan 2010 13:00:00 +0000

Credit card settlement is referred to reducing the amount payable to the bank. The situation of recession has resulted in a large number of credit card debts in the United States. We have seen that various loan takers have large sums which they are unable to pay to the bank and go for credit card settlement. Such a worse situation in terms of financial matters has not been witnessed in the past. Unemployment and lack of jobs is a key challenge which the American residents are facing at the moment.

Unemployment has resulted in a lot of problems and one of them requires a settlement. It is hard to pay bills when you do not have a job as there are no sources of income. It is important to analyze the case details that you have before you go for a relief company and if your case details are not suitable then paying the bank is the only alternative available. If credit card settlement is extremely popular, it doe s not mean that every person can get a large amount eliminated. In most situations, paying to the bank is leading to bankruptcy.

For a credit card debt settlement, every loan taker is worries about how much percentage will be reduced. If a large sum is not eliminated then a high sum which is being paid to the credit card debt settlement company goes to waste. In this situation, the customer has to save as much finance as possible. Most of the loan takers are unemployed and they have to protect their savings under all conditions. It has happened that loan takers have wasted money buy paying a scam company.

Scam firms are present in a lot of excess online. These companies attract customers by promoting services with incredibly low costs. The relief company will promise you sixty percent elimination at a price which is too low. As a loan taker looking for credit card debt settlement, you will be attracted to the offer. As a result of getting impressed, you will contact the relief company to get a better idea of the offered services. You should not contact the relief firm directly as it may lead to the provision of incorrect information.

When a customer contacts the relief company directly, he pays a much higher amount as compared to the normal charges for credit card settlement. Professional companies that provide credit card settlement take cases above a certain financial limit.

Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.

Free Debt Advice.

The Abu Dhabi Police have arrested two Asian visitors

noreply@blogger.com (Clarence) — Sun, 10 Jan 2010 13:13:00 +0000

Abu Dhabi: The Abu Dhabi Police have arrested two Asian visitors with 36 fake credit cards at Abu Dhabi International Airport.

The suspects allegedly faked balance credits on the cards to buy expensive items at the airport duty free shops, said a statement issued by the police yesterday.

The Organised Crime Section received a tip-off that two Asians carrying fake credit cards would be trying to board a flight from the airport, Colonel Khalid Ahmad Al Hammadi, Director of CID said.

The police immediately took action and coordinated with Abu Dhabi Airport security authorities to arrest them, he said.

As soon as they entered the airport, they were thoroughly searched and 18 forged credit cards were recovered from them, said Col. Al Hammadi. He added that one was also carrying three expensive watches allegedly bought with one of the fake credit cards.

The credit card number was allegedly stolen from another duty free before their visit to Abu Dhabi.

According to Lieutenant Colonel Dr. Rashid Mohammad Bu Rasheed, Head of the police Organised Crime Section, the suspects are T.Sh., 32, and L.S., 31.

The amounts on those cards were not big, but they were enough to buy expensive items, it was found.

Police say both suspects admitted to the crime and their intention to buy expensive items at the duty free shops in Abu Dhabi International Airport. Upon returning to their country they planned to throw the cards away.

One of them apparently claimed he had bought the cards on the black market abroad for Dh10,800. The other one also said the same.

Interpol

The Interpol office at the Ministry of Interior was approached to contact the authorities concerned in their country to take necessary legal action.

Further investigations are under way.

The Head of the Organised Crime Section urged businessmen and the public to report the loss of their credit cards or when they fall victim to fraudulent acts.

Quick action is essential in arresting the criminals, he added.

Penal Federal law No. (3) of 1987 stipulates the punishment for forging official documents is three to ten years' imprisonment and if it is unofficial documents the punishment is one month to three years.

Forging government stamps results in imprisonment of three to 15 years, he added, and urged the public to be very vigilant about such crimes.

Fear of Credit Card Fraud Equal Less Onlines Sales

noreply@blogger.com (Clarence) — Sat, 09 Jan 2010 12:58:00 +0000

It's amazing to see the shipping and credit card polices of many ecommerce businesses. Credit card fraud is a fear that many ecommerce business owners deal with on a daily basis. Unfortunately, the shipping and credit card polices I will examine in this article are not combating credit card fraud as much as they are leading to decreased sales.

"Wire transfers only for international customers"

Your ecommerce business is getting inquires from customers outside of the United States. As international charge cards are much more difficult to verify then domestic charge cards you decide the best way to combat credit card fraud is to require international customers send a wire transfer should they want to purchase something from your online store.

Perhaps your international customer does not want to send a wire transfer. The customer knows nothing about you or your business and does not feel comfortable in sending a wire transfer in order to place an order. As such, the customer simply clicks off your site and finds a site that accepts credit cards from international customers. The worst part of having this policy in place is that you have no way of truly knowing how many customers who would have made a purchase from you had you allowed them to pay by credit card and whether or not this would have been a repeat customer.

"Your shipping and billing Information must match"

This is one of the worst polices I have come across. Many ecommerce sites require a customer have the product purchased shipped to the billing address on file with the customer's card company. Additionally I have seen ecommerce sites that actually state to potential customer's that if they want the purchased product sent to an address other then the billing address on file with the customer's card company to actually call their card company and have the desired ship to address put on file with their credit card company.

Perhaps the customer is making the purchase as a gift for a friend. The customer simply wants the product sent directly to his or her friend instead of having the product shipped to their residence. When the customer receives the shipment, the customer has to ship it to his or her friend. Why not have the gift sent directly to the friend? Perhaps the customer is making the purchase as a gift for a loved one and does not want the gift to arrive at the residence for fear of having their loved one open the package. This customer would prefer to have the gift sent to their place of employment rather than to his or her residence. Having the potential customer go through the hassle of calling their card company or making the customer receive the package at their residence does not make for a hassle free and pleasant online shopping experience. You may have very well had customers abide by your shipping policy but how many of these customers actually came back to make a second purchase?

"All credit card orders must be verified by telephone."

Having to call each and every customer to verify an online order is not only time consuming and costly but rather annoying to many consumers. If you have an employee or employees calling each and every customer who places an online order wouldn't their time be better served actually sending the orders out? If you're calling customers yourself wouldn't your time be better served on trying to get new business as opposed to verifying business you already have? Do you honestly believe a customer wants to hear from you? As a business owner your time is much better served worrying about new orders than to worry about the orders you already have.

The customer places an order on Monday and is expecting to have their order sent out on Tuesday. Unfortunately, you were unable to verify the order by telephone until Wednesday. I'm sure that the customer will be pleased that an order they thought they would be receiving today has not been shipped out. More often than not, this customer will cancel their order and worst of all; will never return to your site again choosing instead to place the order elsewhere.

"Please fax a copy of the front and back of your credit card and a copy of your state issued personal identification to (555) 555-5555."

I feel that this is the absolute worst credit card policy for any ecommerce business to have. An online customer is looking for a quick and pleasant shopping experience. Making a photocopy of a credit card and personal identification is in no way make for a quick and pleasant shopping experience. You can be assured that having this policy in place and actually posted on your site is driving customers away from your site.

If you have one, a few or all of these shipping and charge card polices in place for your ecommerce business you should now realize that it is costing you orders, revenue and repeat business. These credit card and shipping policies are no way to combat fraud. You may be asking yourself what is the alternative to combating fraud without having these policies in place?

The alternative is to call 877-751-6213 Extension 334 to find out how you can eliminate the non customer friendly credit card and shipping polices you have in place while being provided with guaranteed protection against domestic and international fraudulent online credit card transactions.

Anthony T. Torres is an online marketing consultant specializing in website conversion, search engine optimization, pay per click and affiliate relationships.

Article Source: http://EzineArticles.com/?expert=Anthony_T._Torres

Prepaid Credit Card

noreply@blogger.com (Clarence) — Fri, 08 Jan 2010 13:05:00 +0000

Prepaid credit cards are often used by consumers with bad credit as they are easy to obtain. Some products may also be useful for those looking to improve credit ratings.

Prepaid credit cards are widely used by many consumers. These products are easy to obtain, require no credit check and allow no borrowing but they give all the advantages of regular cards. Some products in this sector, however, may have an alternative use. Credit builder prepaid cards may also help to build and/or improve a consumer’s credit rating.

What are Prepaid Credit Cards?
This product works like a regular card but it doesn’t extend any credit. In order to use their card the consumer will have to pre-load it with cash and they can then spend their balance as they wish. If they spend everything they load on to the card then they’ll need to put more money on it to use it again.

What are Credit Builder Prepaid Cards?
Credit builder products are basically prepaid cards that add a loan element to the mix. The consumer isn’t given the loan as such as this is usually taken to pay the card’s fees for a year. They will then pay it back in small instalments every month until it is repaid. This loan can help build or repair a credit history.

How do Prepaid Cards Help Build or Repair Credit?
Taking out a prepaid card with a credit building element gives the consumer a chance to have their debt repayments listed on their credit history. If they make these payments on time as they should every month then this will look good on their record. It may help them to build a history if they have none as yet or to repair it somewhat if it doesn’t look so good.

What are the Advantages of Using Prepaid Credit Builder Cards?
These cards come with a few advantages:

They need no credit checks so can suit individuals with even serious past financial difficulties.
A young adult or individual with no credit history can use them to kick-start their record.

An individual with a bad credit record can use the card to repair past damage by adding some positives.
The cards allow no borrowing and users can only spend what they load on leaving no opportunity to get into credit card debt.
The loan that is given is for a small sum with minimal monthly repayments.
Reputable companies will not levy any interest charges or administration fees on their credit building offers.

Although a user can’t get into debt with a prepaid card they need to be on the ball with any credit building repayments that they make. They can only build/repair their record if they make all of their loan repayments on time which means they will need to have the appropriate amount loaded on the card each time a payment will be taken.

Those looking to use this solution should take some time to consider the advantages and disadvantages of prepaid credit cards as there are some other costs involved. It is also recommended to compare deals before making an application. Those looking for alternative solutions could also consider a credit builder credit card.

Read more at Suite101: Using a Prepaid Credit Card as a Credit Builder: Some Prepaid Credit Cards Can Help Build & Improve Credit Ratings http://personalbudgeting.suite101.com/article.cfm/using_a_prepaid_credit_card_as_a_credit_builder#ixzz0c1ePOXSo

Tips on how to choose the best credit card

noreply@blogger.com (Clarence) — Thu, 07 Jan 2010 02:43:00 +0000

A credit card is a bit like a chain saw, it's a very handy tool, but it's capable of inflicting horrendous damage if used improperly. The same advice applies to both of them - choose the right tool for the job, and follow the safety rules.

With the newly imposed credit card tax by the government, here are a few things to consider before you select a credit card:

Spending habits

The first question to be answered is how you intend to use the card. Are you the kind of person who will pay off the card every month without fail, or do you anticipate carrying a balance from month to month? Are you going to use it to pay for everything, or just for emergencies?

* If you're going to pay the bill in full every month, then the interest rate doesn't really matter to you. Look for a card with no annual fee and a longer grace period so you don't get hit with a finance charge.
* If you're going to carry a balance, you want the lowest possible interest rate and a low introductory rate.
* If this is going to be your go-to-card for most of what you buy, look for a card with a generous credit limit and a solid rewards program.
* If it's only going to be used for emergencies, go for a no-frills card with a low interest rate and low fees.
* There are so many cards that are out there. People have to sit down and think about what's important to them.

Credit limit

This is the amount of money that the credit card issuer is willing to let you borrow. Depending on your credit history, it could be anything from a few hundred dollars to tens of thousands of dollars. You don't want a situation in which you're close to maxing out your credit limit. It can hurt your credit score -- and some credit card issuers have cut customers' credit limits to an amount that's lower than their current balance. Adding insult to injury, there's a penalty when that happens.

Fees and penalties

Common charges include fees for transactions, such as balance transfers and cash advances, or for asking to increase your credit limit or make a payment by phone. There also are penalty charges for paying your bill late or going over your credit limit. Look for cards with reasonable fees.

On balance transfers, for instance, look for offers with no transaction fees and zero percent interest for at least 12 months. And don't pay extra for rewards programs. There are plenty of card issuers who don't charge extra for them.

This is a crucial issue. You might not intend to carry a balance. But before you agree to accept a card, understand all the terms and conditions because your situation might change. Stay away from ones with exorbitant fees and high late fees, even if the other features seem relatively attractive.

Balance computation method

If you're going to carry a balance, you need to consider how the finance charge is calculated. The most common method is average daily balance, which means that the daily balances are added together and then divided by the number of days in the billing cycle.

Incentives

Look for a program that offers flexibility, such as cash or travel, and rewards you'll actually use, that are easily earned and redeemed. Be mindful of various restrictions that come with some programs. Take note of whether rewards expire and if there are limits regarding how many points you can earn.

Read more: http://1-million-dollar.blogspot.com/2010/01/how-to-choose-credit-card.html#ixzz0btI7mMLD

Maybank ATM card can be used at AXS stations

noreply@blogger.com (Clarence) — Wed, 06 Jan 2010 01:41:00 +0000

MAYBANK customers can now use the Maybank ATM card to pay credit-card, phone and utility bills; top up ez-link cards; and buy and collect cinema tickets at AXS stations.

From now till the end of March, for every AXS transaction made using a Maybank ATM card, Maybank will donate 50 cents towards a year-long weekly tuition scheme for needy pupils.

Maybank 0% balance

noreply@blogger.com (Clarence) — Tue, 05 Jan 2010 01:47:00 +0000

ffer valid until 30 June 2010. Not to be missed!!!

However, the plan only for period of 3 months. Better than nothing, don't you think?

Platinum Credit Card

noreply@blogger.com (Clarence) — Mon, 04 Jan 2010 01:48:00 +0000

I am a die hard fan for Platinum credit card. I remembered when I first got my very own Platinum cards from CIMB, I was jumping up and down with joy. It was even better when the bank actually gave me two cards, one is for Mastercard and the other one was Visa. I started to apply for many more Platinum credit card after that and all my applications was approved except for Maybank which I had to wait for a year to actually obtaining it.

The only reason for me applying for the Platinum cards is simply because of it design. I have absolutely no idea why I like the Platinum cards design so much. I think perhaps it looks exclusive to me.

People won't think that I actually own a Platinum card. I notice that most of the shops think that I am only a supplementary card holder (under my parent) but it was the other way around. I don't really care what people think about because in the end it all about paying back the card in full after charging it. Owning a credit card does not mean you can spend all of its credit up to the limit. You definitely have to pay high interest rate if you fail to pay your card spending.

In term of the privileges, different banks offer different privileges. I already cancel out a lot of my credit cards as I am a avid collector and not a user maintaining only four cards presently. There is no point for me to keep my card active if I didn't use it at all.

Some of the Privilege I can list down are:

1. Complimentary access to KLIA and LCCT Premier Lounge.
2. Priority Banking - No line up, No waiting, No hassle.
3. Higher credit limit.
4. Dedicated Customer Service.
5. Personal Concierge Services.
6. Specially tailored Platinum privileges and rewards.
7. Cash back.
8. Exclusive Discounts & Rebates.
9. 0% Interest Balance Transfer.

What happen in 2010

noreply@blogger.com (Clarence) — Sun, 03 Jan 2010 01:37:00 +0000

This year we credit card card holders will have to pay RM50 tax to the government for every card we hold, due on anniversary date for existing card holders. Banks like Maybank, CIMB, HSBC, AMBank and Citibank allow the cardmember to redeem reward points to offset the RM50 tax. The points required is 10,000 (HSBC 9500 points) . It is not really a very good offer as for the same or even less points one can get voucher of RM50.

As for UOB, they are offering RM50 Smart$ Points if you do Balance Transfer or Auto Debit or swipe a number of times with your card within a specific time period. Call their Customer Service for more info.

So what is new for 2010?

1) Immediate Points Redemption at Merchants

Several banks have now offer immediate redemption of points at merchants i.e. you can use your points to pay for stuffs at the merchant outlets.

Click below links for more info:

Citibank - Instant Rewards
Maybank - On The Spot Redemption
CIMB/Direct Access - On Site Bonus Points Redemption
RHB - On The Spot RHB Points

Of the above, I like Citibank where I can redeem for a cup of coffee and Coffeebean while waiting for my darling wifey at the malls.

2) New/Extended Promotions in 2010

A) CIMB or Direct Access

* Smart Flexi Pay - 0% no surcharge for Hospital and Education Bills (ends June 2010)
* 0% Balance Transfer (ends 30 April 2010)
* 5% rebate at MPH
* Saturdays and Sundays 5% at Guardian and Cold Storage (ends Mac 2010)
* Saturdays and Sundays 10% discount at Isetan, KFC, Bonia and at Starbucks (ends Mac 2010).
* World Card - free coffee at Dome and 2X reward points overseas.

B) Citibank

* 5% Discount for Giant and Metrojaya Vouchers (somemore 6 months 0% installments)

C) Maybank/Amex Credit Card

* 0% Balance Transfer for 3 months.
* For Amex - sign up autodebit get free Membership Rewards Points.

So far most of the banks have yet to update their sites on promotions as most of promotions/discounts for 2009 have ended. For example, HSBC do offer 10% at many fashion outlets in 2009 but as of date they have yet to update the promotions for 2010.

I would think that from this year onwards, Debit Cards would be more widely used as it is now aggressively being promoted and many recently launched Debit Cards do offer cash rebates. Now two of my children under the age of 18 hold Public Bank Electron Card which do give rebates.

Investment Strategy

noreply@blogger.com (Clarence) — Fri, 01 Jan 2010 05:20:00 +0000

It's clear the U.S. economy is recovering from its near-death experience in 2009. What's not clear is whether rehab will be swift and strong or slower and more painful.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/12/30/BUU51BBGNL.DTL&type=business#ixzz0bOjorbKD

That's the conclusion I came to after asking five Bay Area investment experts about their forecasts for the economy and markets in 2010. Here is a condensed version of their comments and investment strategies for the new year:

John Goode, chairman and chief investment officer, Davis Skaggs Investment Management

-- The economy: The next six months will be one of the most fascinating periods in our history. The choices we make will determine what happens to the U. S. investor and consumer. Early on, it will be good. It will be hard to screw up the next two quarters.

Inventories have been pared to the bone and will be replaced at the first sign of strength. I see jobs growing 100,000 to 125,000 per month in the first six months.

I think the president is going to sound very conservative in his State of the Union address in January. He'll talk about reducing the deficit and stimulating small business. Psychologically that will provide some support.

As we get to mid-year, you will find out whether the State of the Union was rhetoric or real. There will be a lot of questions about taxes, stimulus, cap and trade.

For the year, GDP will grow at a 4 percent rate, which is disappointing historically. Coming out of the of the 1982-83 recession, you had 6 to 7 percent growth.

-- The markets: Investors, especially individuals, are still worried. The vast majority of mutual fund flows have been into bond funds. That's going to reverse to a degree and stocks will become more significant. The market potential between now and mid-2010 is 10 to 12 percent. The best performers will be larger-cap companies with free cash-flow generation, fortress balance sheets, significant exposure to foreign markets and in some cases good dividends.

-- Investment strategy: The United States will be a pretty good place to be in 2010. If we start growing a little faster, the dollar will be stronger and money will come here to buy our assets.

If we have a surprise on the upside economically, the sectors that will do best are industrials, technology, consumer discretionary, basic materials and financials. Utilities, consumer staples, telecommunications and health care will lag, although health care is so cheap you could get some good performance there.

I'd put 20 to 25 percent into diversified emerging markets. That's where more of the growth is but also more risk.

I would avoid long-term bonds. I don't see inflation getting bad in the next couple years but at some point in 2011, I think there will be higher interest rates and that will hurt the price of long-term bonds.

Russ Koesterich, head of investment strategy scientific equities, Blackrock

-- The economy: It's on the mend, but it's likely to be a subpar recovery. My guess is GDP growth will be 2 to 3 percent. Normally you come out of a recession because the Fed is lowering rates, which leads to greater spending. That's not the case this time. Consumer spending will be less than normal coming out of recession because the consumer is carrying too much debt.

-- The markets: In the short-term, the stock market can move higher. Earnings expectations for the first quarter are fairly modest and will be easier to hit. They get tougher as you move on.

To be bullish about stocks past the first quarter, the U.S. economy will have to grow at least 4 percent.

The U.S. market will probably be flat to up mid-single digits. As we get into the back half of the year, you will see a sell-off in the bond market. There's a lot of supply of government debt. That hasn't been a problem so far because there hasn't been much competition from private borrowers. As the economy picks up, the Treasury will have to compete with demand from private borrowers. The government will have to offer a higher yield. That will be a risk for the stock market.

-- Investment strategy: Foreign stocks are a good place to be, not just emerging but developed markets such as Australia and Canada.

Commodities and commodity producers are likely to outperform, especially energy. We have seen a huge expansion of the Federal Reserve's balance sheet. So far that has not been inflationary because the banks have not been lending. But if the Fed is accommodative for too long, it will raise inflation and one of the best ways to hedge that is with commodities. I would also have a small allocation to gold.

I would be cautious about Treasurys. I prefer high-grade corporate and municipal bonds, although I'd be concerned about California. I don't think it will default, but given budgetary challenges ahead, I think yields will move higher and that could bring prices down.

Ed Perks, manager, Franklin Income Fund

-- The economy: There are likely to be tremendous challenges to the U.S. economy. High unemployment is likely to continue for some time. There will be questions about government spending and taxes.

Ultimately a lot of support the government has given the markets is likely to be weaned away. I don't think the Fed will raise interest rates in the short term, but there are other ways stimulus can be pulled away. The Fed was a very active purchaser of mortgage-backed securities. As we that ends, it could drive long-term rates higher. That will be one of the major stories of the year.

-- The markets: Normally our fund has a pretty good balance between stocks and bonds. In 2009 we had a big shift. We had two-thirds in fixed income, mainly corporate bonds.

Today, corporate bond yields have normalized and the long-term outlook for interest rates is more uncertain. For 2010, we see far more balance between stocks and fixed-income. We are already shifting away from bonds into equities. We would avoid long-term bonds.

-- Investment strategy: The stock market recovery was mostly speculative companies, ones that were pushed to the brink during the crisis. Many stable, large-cap companies with attractive dividends were not the ones investors rushed to own. Many of them look attractively valued.

We like a number of utilities, such as Southern Co. and Dominion Resources, and some of the integrated oil companies such as ExxonMobil. We also think banks like JPMorgan and Wells Fargo will do well.

Emerging markets will continue to be important. You can invest in them directly or in U.S. companies positioned to benefit from their growth, such as natural resource, agricultural and technology firms.

Dan O'Keefe, portfolio manager, Artisan International Value and Artisan Global Value Funds

-- The economy: I'm more optimistic than most. You had a rapid and severe decline in economic activity last year. We also had a virtually unprecedented amount of fiscal and monetary stimulus injected into the economy.

Given the economic decline coupled with the stimulus, the stage is set for some pretty good economic growth.

A lot of people are talking about the new normal, where growth is going to be depressingly low for as far as the eye can see. Maybe that is true for the medium to long term. But I think people will be surprised by the recovery over the next year to 18 months.

Companies were quick to react to the downturn by cutting costs, cutting investment, protecting cash and the balance sheet. So the financial situation of a lot of the larger companies is strong. Their labor productivity is very high and unsustainable. You will see some slow return to hiring over the next six months.

-- The markets: If the United States recovers meaningfully, the U.S. stock market will do well. Valuations in the U.S. stock market are more attractive than anywhere else in the world.

-- Investment strategy: Some of our largest holdings are Signet Jewelers and American Express. Jewelry sales have been significantly depressed but Signet, which operates Kay Jewelers, is the largest U.S. jewelry retailer and is positioned to benefit from problems facing its largest competitor, Zale Corp.

American Express suffered greatly during the downturn, having to absorb high levels of bad debt, but actually remained profitable. It appears to be leading the industry out of recession.

I would be very, very cautious about emerging markets. The valuations are very high and we see some warning signs in places like China. It looks like a speculative bubble is forming or has formed in Chinese property and infrastructure.

Gary Schlossberg, senior economist, Wells Capital Management

-- The economy: I expect to see moderate growth, about 3 percent. Normally when you roar out of a deep depression, you get 6 to 8 percent growth as consumers and businesses unleash pent-up demand. But you need a catalyst. In the early 1980s, it was falling inflation and interest rates.

Today, there's no obvious catalyst. Inflation and interest rates are already low. There's lots of pent-up demand: Consumers have postponed purchase of big-ticket goods. Businesses are not even replacing obsolete equipment. Labor mobility and household formations, which drive housing, are near historic lows.

People who have full-time jobs are spending below their potential. If a change in psychology caused them to increase spending, purchasing power would increase. That could be one catalyst that would cause growth to exceed my expectations.

-- The markets: With a modest recovery, you would expect moderate growth in profits. However, companies have a lot of operating leverage. Businesses have been slashing inventories, payroll and equipment spending. Their costs are very low. As they bring in more revenues, more will flow through to profits. That's a positive.

To me, stocks are neither pricey nor cheap, although they look like a better value than bonds.

I see the market up another 5 or 10 percent by the end of next year although it could be higher if you get better-than-expected profits.

-- Investment strategy: I think large-cap stocks will hold up well with the global recovery. Lower-quality corporate bonds (just above speculative grade) also could do well.

I would be cautious about emerging markets. They have been very popular but asset bubbles are beginning to emerge. This could hold for commodities as well. The test will come when the Fed and other central banks start to raise interest rates.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/12/30/BUU51BBGNL.DTL&type=business#ixzz0bOjybeT0

Credit Card vs redemption point

noreply@blogger.com (Clarence) — Thu, 31 Dec 2009 04:23:00 +0000

let us justify these 2 statements
1.)credit card service tax is charged to reduce the number of deficit spending among Malaysian due to credit card.
2.)Redemption points can be used to pay for credit card service tax.
our gomen is encourage us to use credit card or dis-encourage us to use credit card?
confusing move by our gomen?
what the point the gomen charge RM50 for service tax instead the credit card user can waive from paying it if they spend more to get more redemption point to cover it?
Pls correct me if i got anything wrong....
Feel free to give opinion....

Pay Off Debts To Start A New Life

noreply@blogger.com (Clarence) — Wed, 30 Dec 2009 13:16:00 +0000

Large numbers of borrowers are suffering from debts these days. This is mainly because of uncontrolled spending habits encouraged by credit card facility and easy availability of loans for each and every purpose. So debts have become part of almost every borrower’s life. But that does not mean one is destined to live under debts forever.

paid off through debt consolidation loans UK gives smaller amount for shorter repayment duration. The interest rate is lower than what was being paid on previous loans.

debts. days. Instead This you saves will lot pay of the debts. Instead you consolidate, reduce credit card debt, debts under a new loan for paying off installments or for any purpose. Debt consolidation loan means you are labeled bad credit, the loan is still there for you. Do not be discouraged. Remember that one of the purposes of debt consolidation loans UK.

In both the options the borrower will benefit only when interest rate debts and enables in starting a fresh debt free life.

Debt consolidation loan bad credit is no problem as risks are remote. For unsecured loan, convince the lender that you will pay off higher interest rate is possible. Because of debts your credit history is not good. If you are labeled bad credit, the loan is still there for you. Do not be discouraged. Remember that one of the loan. Debt consolidation loans uk. The lender takes your any property like home as collateral and offers greater loan amount to pay off debts.

The, secured debt, interest rate is lower and varies from lender to lender.

The repayment duration ranges from 5 to 30 years. Unsecured debt consolidation loans UK is to start a new lender providing lower interest rate regularly. Your lot of money and time, secured debt, also. The money can be used for paying off all previous debts. These debts accumulated because you could not pay off debts. The interest rate also goes a little higher. But one should compare different lenders and now pay the installments to only one new lender.

This saves lot of money was going towards the interest payment.

Here lies the first advantage of debt consolidation loans UK. In both the options the borrower will benefit only when interest rate debts and enables in starting a fresh life. Make sure that interest rate is possible. Because of debts your credit history and lenders understand that. For secured debt consolidation loans UK is to start a new lender providing lower interest rate when compared to higher rate of interest on previous loans.

debts. easy The availability interest of rate annual of income the and lender employment.

may Bank also statement goes of a debts little borrowers higher. are But remote. one For is unsecured still options. there Usually for if you. debts Do have not showcased good. debt If free you life. consolidate Debt debts consolidation accumulated loans because uk. of The availing repayment a capability, lower lender interest providing, reduce credit card debt, rate lower loan. than This what is was not going pay towards off starting through a debt lower free than of what debts was forever.

The pros and cons about Credit Card

noreply@blogger.com (Clarence) — Thu, 24 Dec 2009 04:00:00 +0000

Dear Opening Credits,

I'm a business major at Cal State-San Marcos. I have a question for you about credit cards. Describe the most beneficial and detrimental aspects of credit cards for consumers? Can you provide specific examples, too? -- Zoe
Answer for the CreditCards.com expert

Dear Zoe,
Why do I get the feeling I'm helping you write a term paper? Just in case, I've given your question enough lag time so that you must have completed it and have your grade by this point.

So here is my credit card best and worst list. To demonstrate, I'll use the example of you purchasing a new flat-screen TV for your dorm room.

The best aspects of credit cards

1. Immediate gratification. Let's say the model you want is $499, but you don't have the cash to pay for it immediately. Rather than taking the time to save for it or hitting up your parents for a loan, you can charge it and walk out of the store with the TV. All you have to do is pay the bill in a couple of months, and credit cards become a cost efficient way to get what you want, when you want it.

2. Safety and convenience. Shopping for expensive items with cash is risky. Lose your wallet and those TV funds are gone for good. Credit cards are an easy and safe way to shop. Yes, you can also use a debit card, but combine the delayed-payment option with the security and convenience of plastic, and charging can make a lot of sense.

3. Consumer protection. Now assume you got a bum TV from a fly-by-night store close to campus. When you return it, you find the doors shuttered. If you charged the set, you'd breathe a sigh of relief since credit card purchases are protected by consumer-friendly laws that don't apply to cash and debit. After attempting to resolve the problem with the retailer, you could appeal to your creditor, dispute the merchant's credit card charge and possibly not have to pay.

4. Rewards. The best credit cards have rewards programs. With these products, you can earn points redeemable for travel, cash, and goods and services with each purchase. If you charge regularly and pay the balance in full each month, you can come out ahead. Keep charging correctly and you'll be flying home for the weekend with no debt and on your creditor's dime.

The worst aspects of credit cards

1. Temptation to overcharge. An open line of credit can be dangerously seductive. While you're in the store looking at TVs, you may also spot a laptop that strikes your fancy. Just having the ability to spend more than you can afford to repay makes it easy to get in over your head. Exercising impulse control is essential.

2. High interest and fees. You may plan to pay the TV off in three months, but life has a way of getting in the way of good intentions. So you make the minimum requested payments instead, and even skip a cycle or two. In that case, interest and fees would be tacked on to the balance. Soon, a bargain turns into costly debt. The only way to keep the cost of credit low is to pay balances in full and on time.

3. The high, lingering cost of mistakes. It's bad enough to be charged a $35 late fee for missing a payment, but the delinquency also winds up on your credit report. This black mark will follow you long after graduation. And guess what? Future employers and landlords aren't real keen on inconsistent payments. Cardholders must take action to keep credit reports pristine.

4. Identity theft. What can happen if your card is stolen while you're shopping for that TV? If you report the crime early, you're protected from having to pay for fraudulent charges. However, thieves who have honed their craft have a way of using the information contained on your plastic to apply for new cards in your name, thus starting an identity theft nightmare. It is of critical importance that you always know where your cards are, scan statements for anything amiss and report problems early.

There are plenty more positive and negative aspects of credit cards, but these are the four best and worst. Now what did your professor say?

See related: 10 things you must know about identity theft, How to dispute credit report errors, 10 things you must know about credit reports and scores, 5 key federal laws help protect cardholders, 5 secrets to smart debit card use

Bank Customer Service

noreply@blogger.com (Clarence) — Thu, 24 Dec 2009 03:58:00 +0000

Banks are just so irritating today... I need to cancel my credit cards and i have NOT been able to get through... Maybank and CIMB are engaged this whole morning... AEON put me on hold for 3 freaking times, 10 minutes each time until I gave up hope and decided to email them instead... argh!!

The only bank I got though as of now is Hong Leong Bank, after choosing language and choosing the option of stolen credit cards (otherwise it takes forever to get through) and i finally confirmed that my credit card has been cancelled after sending in the cancellation request form 2 weeks ago.

My experience over the years has Alliance Bank at the top of my list for having the WORST customer service ever... I could never get through and would be put on hold forever until the part where no customer service is free to entertain you and they ask you to leave voice message and then when you start talking, a voice comes up and says, "We're sorry but our voice mail box is full. Please call back again later...!"

There is only ONE bank which has impressed me so far with their excellent customer service and guess which bank it is?!?! It's RHB Bank... where their motto is to simplify banking and so far they have kept to it. You call their customer service hotline and within 2 rings, a customer service representative would definitely pick up!! :) How great is that! And you don't have to go through stupid voices on the machine like all the other "irritating" banks :)

I hope all the other slow banks can improve their customer service soon... to RHB's impressive (so far) level of customer service. Bravo to RHB Bank!

Executive's spending spree

noreply@blogger.com (Clarence) — Thu, 24 Dec 2009 03:55:00 +0000

The Koss Corp. executive accused of embezzling $4.5 million spent huge amounts of money at exclusive stores and left big piles of expensive clothing - the price tags still attached - sitting in her office, a federal criminal complaint alleges.

Over just two years, the complaint says, Sujata "Sue" Sachdeva, 46, spent hundreds of thousands of dollars, or more, at high-end clothing and jewelry shops. Some of the merchandise went unused and ended up in a 1,000-square-foot storage room in a Third Ward building. FBI agents were at the room Monday and Tuesday, a neighboring tenant said.

At the same time, people regarded Sachdeva as a kind, generous person active in raising money for such charities as the Boys & Girls Club and Big Brothers Big Sisters.

"I knew her as a wonderful lady who was a good customer," said Tony Chirchirillo, owner of Valentina, an upscale clothing store where Sachdeva allegedly spent more than $1.3 million over the last two years. "She was always involved in civic issues."

Chirchirillo said he didn't regard Sachdeva's level of spending as unusual and said it didn't give him pause.

"I can't make judgments on what people spend," he said.

"It's relative," Chirchirillo said. "If you're making five times as much as I do, you're going to spend five times as much."

According to the criminal complaint, between Jan. 1, 2008, and last Saturday, Sachdeva's spending included:

• $1,358,322.25 at Valentina, 1505 W. Mequon Road, Mequon

• $670,000 at Au Courant, 400 W. Silver Spring Drive, Glendale

• $649,000 at Zita, 211 E. Silver Spring Drive, Whitefish Bay

• $213,500 at Gigi of Mequon, 1550 W. Mequon Road

• $127,400 at A.C. Zuckerman Jewelers, 1340 W. Mequon Road

The spending came to light, according to the complaint, when American Express recently contacted Koss Corp. CEO Michael J. Koss and told him that Sachdeva, an American Express customer, was paying down her balances with large wire transfers from a Koss bank account.

The complaint says:

Michael Koss went to Sachdeva's office and found many American Express credit card statements and several large piles of women's clothing with attached price tags, some for more than $2,000.

Confronted by FBI agents at her Mequon home Monday, Sachdeva acknowledged she had bought clothing, jewelry and other personal items with money she diverted from Koss Corp. She said she carried out the scheme on her own, directing her assistant to make the fraudulent wire transfers. Sachdeva said she concealed the transfers by falsifying the balance in Koss' bank account.

While Sachdeva's spending extended over two years, the fraudulent wire transfers occurred over just three months this fall, according to the complaint.

Sachdeva was Koss' vice president of finance and its corporate secretary - one of the company officials who signs the financial statements the publicly traded firm must file with the U.S. Securities and Exchange Commission. She didn't carry the title of chief financial officer, but some company documents refer to her as Koss' principal accounting officer.

Koss Corp. asked the Nasdaq exchange to halt trading in the company's shares Monday. Trading has yet to resume, and Nasdaq said late Tuesday afternoon that it will remain halted until Koss satisfies the exchange's request for additional information.

The company, meanwhile, has launched its own investigation into Sachdeva's alleged theft to determine its effect, if any, on the firm's financial statements.

An embezzlement of $4.5 million could loom large for Koss. Though it is something of a local icon - for its pioneering development of stereophones and its pun-happy billboard along I-43 - Koss is a relatively small business. Sales in its last fiscal year totaled $38.2 million, and the firm netted $2 million. As of June 30, the company employed 73 people.

Sachdeva and her husband, Ramesh Sachdeva, a pediatrician, Children's Hospital executive and adjunct professor at Marquette University Law School, are well known in Milwaukee social circles. Sujata Sachdeva in recent years has co-chaired events for the Boys & Girls Clubs of Greater Milwaukee and Big Brothers Big Sisters of Metro Milwaukee. She is on the board of directors of Big Brothers Big Sisters, the board of trustees at Cardinal Stritch University and formerly was on the board of the Skylight Opera Theatre.

Kent County Sheriff's Department warns of scam

noreply@blogger.com (Clarence) — Thu, 24 Dec 2009 03:53:00 +0000

KENT COUNTY, Mich (WOOD) - The Kent County Sheriff's Department is warning people about a credit card scam.

The department received several calls Saturday from people who said they have received text messages stating their credit card has been deactivated and to call a local number to have their card reactivated.

A recorded message greets callers who dial (616) 855-1134. The message tells callers they have reached Card Member Services and directs them through a couple prompts, including changing personal identification or card activiation.

The sheriff's department wants to remind people to not give out their personal information on the phone. Victims of this scam are urged to call their local police department.

American Express Launched AcceptPay

noreply@blogger.com (Clarence) — Thu, 24 Dec 2009 03:49:00 +0000

NEW YORK - (Business Wire) American Express OPEN, the small business division of American Express, today launched AcceptPay (www.acceptpay.com), an online invoicing and payment solution that can help business owners improve cash flow at a time when customers are taking a longer time to pay.

AcceptPay is a new online solution that allows business owners to create, send and track invoices - all in one place. Through AcceptPay, customers can pay the invoice through a variety of methods, including major credit and debit cards, eChecks, cash, or checks. Resulting payments are deposited directly into the business owner’s bank account.

“At a time when every dollar counts, business owners need tools and resources to help them better manage their firms’ finances, and that is why we created this innovative payment collection solution that can help them get paid faster,” said Mary Ann Fitzmaurice Reilly, Senior Vice President, American Express OPEN. “AcceptPay further demonstrates our commitment to offering entrepreneurs a full range of products and services that can help them manage through the recession and grow their enterprises.”

According to the American Express OPEN Small Business Monitor, a semi-annual survey of business owners, 60% of small business owners have cash flow concerns, with 20% of business owners reporting that the ability to pay bills on time is the most significant cash flow issue. In addition, 32% of small business owners are most likely to be more aggressive in collecting accounts receivable in order to improve cash flow – the most popular tactic of those offered in the survey.

AcceptPay features and benefits include:

* Faster payments: Customer payments are deposited directly into a linked bank account designated by the AcceptPay user;
* Variety of Payment types: Customers can choose multiple online payment options including major credit and debit cards, eChecks, cash or checks;
* Improved efficiency: Business owners can create and send invoices, as well as track and organize invoices, payments and outstanding receivables online – through a single web-based portal;
* Added financial control: Business owners can track and view invoices and receivables via automated or custom reports. All of these records can be seamlessly integrated into QuickBooks® software.
* Ease of use: AcceptPay does not require a software download or customer website.

Every business owner, whether or not they are an American Express OPEN Cardmember, is eligible to apply for AcceptPay from American Express OPEN. There is no set up fee, and the service is priced at $20/month. Any business owner can also register for AcceptPay Lite, which is a free invoicing-only solution that provides the opportunity to test the product.

American Express OPEN partnered with PaySimple, a leading provider of SaaS (Software as a Service) on-demand electronic payment solutions for small businesses, to design AcceptPay. OPEN and PaySimple worked with business owners to create product features and integrated feedback from product test groups.

Small Business Owners Ask “How can I get Paid Faster?” in New TV ad Featuring AcceptPay

American Express recently launched a television spot featuring real business owners asking each other questions about how to better run their businesses. The national ad underlines the primary thing small business owners want to know – how to get paid faster – and highlights AcceptPay as a solution for business owners looking to turn the page on a challenging 2009. Small business owners are also encouraged to ask their own questions and join the conversation by logging on to OpenForum.com, an online resource and networking site for business owners. The business owners featured in the ad include:

* Ahmed Mady, Paragon Remodeling, Vienna, VA
* Candace Nelson, Sprinkles Cupcakes, Beverly Hills, CA
* John Lawson, 3rd Power Outlet, Atlanta, GA
* David Hughes, Skydive Santa Barbara, Lompoc, CA
* Lynn McMahan, Southern Eye Center, Hattiesburg, MS
* Jasmine Takeshi, Laughing Lotus Yoga, San Francisco, CA
* Rafe Totengco, Rafe New York, New York, NY
* Chris McIntyre, Eagle Rider Tours, Los Angeles, CA
* Chris Zane, Zane’s Cycles, Branford, CT
* Dan Marino, Jackson Hole Buffalo Meat Co, Jackson, WY

About American Express OPEN®

American Express OPEN is dedicated exclusively to the success of small business owners and their companies. OPEN supports business owners with exceptional service. With tailored products and services, the team delivers purchasing power, flexibility, control and rewards to help customers run their business. Specifically, business owner customers can leverage an enhanced set of products, tools, services and savings, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about OPENSM, visit www.OPEN.com, or call 1-800-NOW-OPEN to apply for a card. Terms and conditions apply.

American Express Company www.americanexpress.com is a leading global payments, network and travel company founded in 1850.

About PaySimple

PaySimple creates platforms that simplify and empower the lives of small business owners. PaySimple provides an on-demand Software as a Service (SaaS) platform that enables small businesses to bill, collect, and manage their customer payments under one user-friendly system. The PaySimple solution includes: recurring billing, email invoicing, ACH direct-debit, credit card processing, echeck processing, online payments, and more. For more information please go to http://www.paysimple.com.

National Contact:

Good New for American Express cardmember user

noreply@blogger.com (Clarence) — Thu, 24 Dec 2009 03:47:00 +0000

This season American Express has pulled out all the stops to offer their Cardmembers fantastic shopping privileges and savings at some of the best establishments in the country.

To make the season more memorable American Express partnered with Crescat Boulevard to offer Cardmembers exclusive shopping privileges, gifts and savings at partner outlets. Amongst this array of privileges are complimentary gifts from Parfumerie, Backstage, Levis and Exclusive Lines, special savings at Footrub, Hameedias, Adidas, Vijitha Yapa, Yolanda Collection, W A De Silva, Dilly's, Triumph, Pepe Jeans, Stone & String, Kadapatha, Rebel and the Reebok Store, triple Membership Rewards points at Colombo Jewellery Stores and 5 times Membership Rewards at Swarovski.

In addition, all Cardmembers who shop at Odel will be part of a daily bill wipe out during the season, American Express also partnered with Keells Super, the biggest name in hampers, to offer Cardmembers an exclusive 10% savings on all Hampers.

For your indulgence during the season, American Express partnered with Cinnamon Grand and Cinnamon Lakeside Colombo to offer special savings on selected Christmas specials and lunch at restaurants such as Lagoon, Echo, Taprobane, Long Feng, Royal Thai and The Dining Room.

Cardmembers can also enjoy a range of special savings from Dialog on Mobile phones, Dialog TV, Dialog Broadband Internet, Mobile Broadband and BlackBerry devices.

The American Express SELECTS programme is also available to all Cardmembers during the season offering savings on shopping, dining and travel at over 150 partner locations around the country. The SELECTS offers will be valid till 28th February 2010.

New protection for gift cards

noreply@blogger.com (Clarence) — Tue, 22 Dec 2009 01:53:00 +0000

Consumers won broad new protections on the purchase and use of gift cards this year.

But the new federal law is not going to do you any good this holiday season because it doesn't take effect until next August — 15 months after being signed into law.

And even then, cards you purchase now won't be affected, so the new law won't protect you from having your gift swallowed up.

The new rules — part of the Credit Card Accountability, Responsibility and Disclosure Act of 2009 that President Obama signed last spring — is straightforward in banning policies that eroded the value of gift cards.

They prohibit dormancy, inactivity and service fees on gift cards unless there has been at least one year of inactivity on the card, and expiration dates must be at least five years after the date of issuance or when funds were last loaded.

In addition, cards must come with "clear and conspicuous disclosures about the fees," says the Federal Reserve, which will oversee enforcement of the law.

Disclosures must be made before the consumer buys a gift card, whether purchased in person, over the Internet or by telephone.

It's about time. If you check the gift card displays found at most big supermarkets and drug stores, you'll find key details often hidden on the back of the cards, making it impossible to know what you're getting unless you pull the card from its packaging.

In its wisdom, Congress gave card issuers more than a year to implement the changes, so the extensively publicized new rules do not apply to cards sold now, Federal Reserve spokeswoman Susan Staywick said.

The law applies to retail gift cards that can be used at a single merchant or affiliated group of merchants and network-branded cards such as Visa and American Express that are redeemable at any merchant that accepts that brand.

But the new regulations specifically exclude prepaid telephone cards, reloadable cards not marketed as gift cards, and loyalty, rewards or promotional cards.

By including the bank-issued cards, Congress closed a big gap in New Jersey's Gift Card Act that was limited to covering cards issued by individual merchants because the state lacks the authority to regulate bank-issued cards.

That meant that cards sold under the American Express, Discover, Visa or MasterCard brands can — and often did — charge "account maintenance fees' that reach as high as $2.50 a month after the first six or 12 months.

I say "did" because American Express no longer charges those fees. Effective Sept. 30, in a brilliant marketing move, Amex got a step ahead of the new law — and its competitors — by dropping fees and expiration dates in time for a "the one with no monthly fees" holiday advertising campaign.

Best of all, the new policy applies to previously issued cards as well as to those sold in outdated packaging that still says a $2 monthly fee will be imposed starting in the 13th month after issue.

We've gotten no similar across-the-board relief from Visa and MasterCard-branded cards that still hit customers with monthly charges, starting as soon as six months after the card is issued.

Technically, it's not Visa and MasterCard imposing the fees; that's left to the issuing banks, Visa spokeswoman Kate Mulhearnsaid. But that hardly matters to the consumer with a gift card whose value drops bit by bit while sitting in a kitchen drawer.

Also, before picking a gift card, remember that while the new law eliminates monthly fees, it does nothing about the $2.95 to $6.95 extra you pay to buy most bank-issued cards.

Store-issued cards rarely carry up-front charges or monthly fees, but many that I examined had expiration dates, some as little as 2 1/2 years away. The new law won't help because cards bought now will be subject to those terms.

Also, be aware that the amount of money loaded onto a gift card may not expire, even if the card itself does.

Fixed Deposit Bonus 2

noreply@blogger.com (Clarence) — Mon, 21 Dec 2009 01:58:00 +0000

Starting from 16th November 2009, Maybank launch a special campaign called Fixed Deposit Bonus 2. Individual who placed a Fixed Deposit during this campaign period will enjoy higher Fixed Deposit Rate then normal rate. This is the continuation to the first campaign launched last July.

On top of the higher rate, each deposit also will automatically qualify rewards and amazing prizes with Maybank Extra Rewards Deposit Campaign.

To participate in this promotion individual must be make a Fixed Deposit with minimum of RM25,000.00 at any Maybank Branch nationwide or through Maybank2U internet banking via eFixed Deposit. Under this promotion only Fixed Deposit with 7, 8 and 9 months are eligible.

Below are some of the points that you have to take note if you would like to participate in this campaign.

* Campaign starts on 16th November 2009 and is valid for a limited period only.
* Customers are required to place a minimum placement amount of RM25,000 in a single receipt for 7, 8 or 9 months tenure only.
* Only new placement made from fresh funds during the campaign period shall be entitled to special rates
* Upon maturity of the FD, the placement rate shall revert to the prevailing Fixed Deposit board rates for the respective tenures.

The special rates are

* 0.25% + Prevailing Board Rate for 7 month FD placement.
* 0.35% + Prevailing Board Rate for 8 months FD placement.
* 0.38% + Prevailing Board Rate for 9 months FD placement.

Current Prevailing Board Rates for 7, 8 and 9 months is 2.10% p.a.

For more information kindly proceed to Maybank website.

Introducing credit card to young consumers

noreply@blogger.com (Clarence) — Sun, 20 Dec 2009 01:27:00 +0000

Product managers at American Express hope a new flavor of charge card can lure young consumers away from debit cards. The new Zync Card from AmEx bathes the familiar Centurion in blue and white hues, making a subtle distinction from classic green and gold cards. Like its cousins, the Zync requires cardmembers to pay their balances in full each month. However, cardmembers can earn double points in the American Express Membership Rewards program and other benefits by adding up to four special "packs" of perks:

"Go Pack" members enjoy double points on airfare, along with discounts on car rentals and other travel expenses.
"Social Pack" members earn double points when picking up restaurant tabs or buying event tickets from exclusive pre-sales.
"Connect Pack" members double their Membership Rewards points on all cell phone, cable, and Internet bills.
"Eco Pack" members earn extra rewards and carbon offsets for shopping at certified "green" merchants.
Adding all four Zync "packs" brings the card's annual fee to $85, while opening an account with just the Eco Pack will cost cardholders only $25. With a fee structure comparable to most debit and prepaid cards, Zync offers an attractive alternative to bank accounts that run the risk of expensive overdrafts.

Scam Syndicate 2009

noreply@blogger.com (Clarence) — Sat, 19 Dec 2009 05:27:00 +0000

1) The Cafe Scams – Island Red Cafe & Stevens Corner(strange, both in Pandan Indah) – Island Red Cafe collects members RM6,000 each and promised 5% return every month and even give you a name in the ROC as a shareholder but what’s the point when they run away ? Stevens Corner, the famous indian coffee shop follows due to drop of business since their renovation. They collect RM3,000 per member and promise return of RM150 monthly and plans to open nice fanchisee cafe called StevensTeaGarden. Someone mentioned they will make you sign an agreement that give them the rights NOT to pay you anything in future. If you really wish to join, ask for a copy of their agreement and consult your lawyer BEFORE paying them. Bet you will NOT get a copy. Both collect monies from new members with MLM recruitment schemes and pay the old members like Sunshine Empire. You never know when they will run away.

2) Sunshine Empire – This licensed and legal Company has an impressive office at the ground level of KUB building along Jalan Yap Kwan Seng, near Menara Public Bank and AmBank Building. They also have a showroom office at the ground level in the next building. 2 or 3 months ago, Singapore’s Straits Times and The Paper published big news reminding their people to be careful and NOT to believe in them. Hope someone can put up the link or google for it.(As expected, they STOPPED paying back members now and all investors LOST their money).

Someone below has put a link to the Singapore news. In fact there are more to it. Although Singapore is investigating them, they did not stop their business as the business is legal and so far, no Singaporean have failed to receive their commissions as promised. Thus, the government cannot stop them yet.

The news published that the founder, director and group president is someone named James Phang but he is NOT the owner. Isn’t this quite strange ? At the end of the game, James Phang can just disappear from the Company easily and claimed that he was just “employed”. Such trick always happened in scam businesses.

Now, the Company has STOPPED paying commissions and interests to members with the excuse that the Singapore government has freezed their bank account while under investigation. Do you think their boss will be so stupid to keep much monies in the bank to be freezed ? They are all transfered away. It’s just an excuses not to pay back to members and members are only paid “e-bonus-points” which is cashless. If they wish to convert to cash, they have to recruit new members to pay them cash and the recruiter less out trom the amount. So victims act like Vampires and “forced” to victimise other victims if they wish to get their monies back. And their victims will later transform to vampires and the scam carries on…..

3) MOBILEWALLET – This Company owned by 2 young men, Stanley & Rey Gan, office in Queens Avenue Park has collect multi-millions the last 2 years. Claimed that they tied up with Telekoms, Utility Board payment like Water & Electricity bills, even Maybank got fooled by them. Advertisement Billboards everywhere. They STOPPED paying back their members few months ago and the members cannot do anything because they are made to sign an agreement unaware that they have to claims if the company stopped paying them by CHANGING terms and policies.

4) Water businesses - Oxygenated and alkaline water products – Some of these are bottled water and some are filters or equipment that claimed the trick. One of the better known Company that sold “oxygen” water is SITO(supposed to stand for Selangor International Trading Organiszation and claimed Selangor State Government owned some share in it). The key person and founder is a Dato Robert Ong from Rawang but his name is no longer in the business now. Their products are sold for RM2 to RM3 for a 350ml bottle and now concentrating mostly in the Indian market. Their Chinese and Malays market are long gone since a year or 2 ago. Their customers are made to believe that their water has more oxygen and able to give miraculous effects for the body. Water is H2O, how to put more O into it ? Anyone knows how much oxygen do we breathe into our body everyday at FOC ? Latest news is that this SITO Company is going to create new label to market under a new Company since the SITO name has already gone bad. Someone informed that this Company is owing alot of money(due to refunds) to ex-stockists but just refuse to pay them.
(Latest news, SITO shifted to another place and their MLM business has closed but planning to start again with a different name, beware !!)

Alkaline Products – Can anyone explain how it can work for the body ? The stomach’s gastric liquid is so acidic that water of any pH that goes through it will not make any difference.

5) Car Fuel Booster – K-Link, the famous scam MLM Company that sold the footpatch TAKARA, later the “cock-ring” and energy-card launched the patrol-saving pills last year. Got so hot that even grocery shops are selling for them. Recently many of these cars that used the pills are rushing to the workshops to clean the residual. Few months ago, another MLM Company launched a fuel booster gadget, claimed that saves up to 20% fuel, that is attached to the cigarette lighter. Started off well using binary plan but businese begin to fade now and most users find it NOT effective.

6) Perfumery Products(eg. Lampe Berger & Bel Air)(more details later). Lampe Berger is not so hot now in the neighbouring countries but there are still new victims every month in Malaysia. Must thanks to those who have contributed and kept the thread alive here in Kopitiam. Bel-Air have closed in Malaysia. LB is almost zero in Singapore. This perfumery product from France with over 100 years history is just bottles and fragrance(check the factory’s website) but the Company marketing them in Asia claimed “aromatheraphy” products. Hong Kong TVB aired a program that exposed their scam but their members claimed that HK’s TVB already apologised to them. Note that the biggest strenght in a MLM Scam is their members will go all way out to lie in order to defend for their Company. The reason is simple; these members fear that they will not be able to make their money back if the Company collapsed. Knowing that the Lampe Berger products are moving slow, they add a line of skincare products named Estebel, also claime to have over 100 years history in France.(Hardly anymore Chinese newcomers, they are now tapping the Malays in Malaysia)

7) Energy Products(eg. stone pendants, bracelets, mattress and pillows). They use all sorts of gimmicks and demonstration to make you into believing them. They will do some tricks and demo to prove that these products really produce energy BUT is there any tricks in their demo ? So what if there really produce energy; is it good or strong enough to help the body ? The effect is actually PLACEBO which I will elaborate in a new thread soon.(more details later)

8) Hi-Tech products(names like bio-tech, nano-tech that claimed millions of dollars of research involved, eg Bio-Young and XKL few years ago). Most of these will claimed a professor behind them(even with name and picture of a person) or used words like “U.S.A. formula”, “German Technology” or “Nanotechnology” and no further details(more details later). If you ask for more details like the professor or factory’s address, the answer will be “trade secrets”.

9) Investment Schemes - SWISSCASH is the King of all. Swisscash is nearly over now but there are many similar and smaller ones that are still on.(Now, it’s closed or stopped paying back members)

10) GoldQuest – This Company that claimed to be HK-based started with some non-value gold-plated coins that are sold for over RM2,000 have several names and changed products several times. QuestVacation, QuestNet, etc. They have several offices in Amcorp Mall, PJ and their key person(in fact, the owner), a Malaysian Indian was arrested last year in Indonesia for having involved in a very big Phillipines scam. Most of their overseas offices are closed or inactive but their Malaysia business is still hot, with some “energy” products.(Can someone please provide a link which showed the news that their boss was involved in a big scam in Philippines and was arrested in last year ?)

11) Numerology & Fortune telling – A Company named Visiber is using MLM to sell fortune telling classes using your birthday based on Numerology fortune telling. Prospects will be told that they need to buy a certain “number” between 1 to 9 in the form of pendants or bracelets made of stainless steel and sold from RM600 to RM20,000. Customers, or rather victims are mostly females from rural areas. Very hot in Penang now and a number of spin-off Companies have started.

12) MJ-Life – This Company boost of a very big background with many many years of history which is NOT true. Their people or associates may be long in business but nothing to do with their MLM launched recently. Why do I consider it a scam or bad ? New members are told to pay a sum of money(up to RM1000) and you get NOTHING for it. You only get a membership can entitle you to enjoy all sorts of special price and discounts when you have medical check-ups in their centres. They will claim all those check-ups cost more if done elsewhere. It’s not true. Only the naive and those new to medical check-ups will fall victims to them. Most members who paid the money ended up with nothing.

13) Seaweed Venture Scams – 1 such Company is located in Taman Maluri, Cheras. They will ask you to invest a few thousands ringgits for their venture of growing seaweeds in East Malaysia and you are guaranteed returns. To gain your confidence further, they will tell you your investment money is secured by “insurance” or “unit trusts” & “trustees”. When you ask for further documents to prove, they will give all sorts of excuses or just ignore you because they know they cannot get you. These Seaweed scam is one of the hottest now, warn all your friends about it before they are victimised.

14) MXM(previously MGM) – This is a master scam among the younger group, very successful 2 or 3 years ago but since there moved to their big 10-storey office at Phileo Damansara and changed name to MXM, their business dropped. They collect members RM3,000 to RM4,000 with credit card monthly easy payment and in return you get a hospital benefits insurance from Pacific Insurance worth only a few hundred RMs together with some you-don’t-need medical check-ups from their associate Company Pathlab. Also talk about fitness, lifestyles bullshit that is all worthless.

15) Gano Excel – This company from the north, a copycat of DXN selling Lingzhi capsules created a new Company called Gano iTouch to cash-in on the internet like e-Cosway after their Company went down the drain since the last 2 years, selling Linzhi and some no-value energy pendants and alkaline water gadgets. They provide free transport every weekend from KL to visit their Alor Star office.

16) NuLife(HK) - This Company started by some HK people has been in Malaysia for more than 10 years but they have flopped in HK and Malaysia due to bad management and a product scam making use of a prosecuted American named Dr Jeffrey Bland, found guilty of false products claim. Since this case in the US leaked out and many Malaysians found out that the real boss in HK is a Steven Tang(he cheated many Malaysians in another scheme about 20 years ago) their business went down all the way. Now they claim Malaysian partners cheated them and start a new Company in Malaysia. Watch out, this new Company will come out with some investment scheme idea that will get many to lose their money.

17) Arowana Fish Breeding, Oora from Germany, Biofuel(Kompleks Maluri) etc – These are some newer scams. Arowana fish venture ask you to invest some money and give you fixed return. Biofuel will tell you their Indonesia connections(just like Sunshine Empire before using Taiwan) & Oora from Germany(I never trust those cruel Germans) that market some bio-chips and a gadget that claims to give energy and therapeutic effects of accupunture, tai-chi, yoga, etc depending how you set the toy-like gadget, wear it on your body and you get the effect later. They could not explain or provide any demonstration to prove their effectiveness. Only doctors and papers claim that I will never trust. The health effect is actually PLACEBO, which I will elaborate in a different thread.

Lastly but not least, thank you for reading to the end and I hope you can come back for more details and updates or help to contribute for me to update. I hope to receive information of any scams so that I can share them here to protect others. Although most of those above-mentioned are marketed through direct-selling or MLM schemes, I will soon add non-MLM scams. Please contribute.

If you wish to send me any new information confidentially, you may email them to me at:

http://us.mc515.mail.yahoo.com/mc/compose?to=stopscams007@gmail.com

Good Luck.

7 Way to make the most of gift cards

noreply@blogger.com (Clarence) — Fri, 18 Dec 2009 04:06:00 +0000

NEW YORK (Market Watch) -- The countdown to the holidays has begun, and if you've got "giver's block" you may well be thinking you should just go ahead and buy a gift card.

"It's like giving cash -- only less stressful," as one Market Watch reader wrote.

A friend of mine bought several this past weekend, convinced by her sister that her teenage kids will make a whole day of them -- shopping together to enjoy the after-Christmas sales.

This is a multi billion-dollar industry that keeps on giving, but often it's the card issuers, not the consumers, who benefit. Some new rules have been proposed, but they won't do much good this holiday season. See Chuck Jaffe column on how gift cards keep on giving -- to card issuers.

I'll give you some gift-card pointers in a second, but you should know about some proposed rules and how they could protect you from fees that can eat away at the value on a gift card.

Say your card is sitting dormant and unused because you still haven't figured out what you want to buy. Under the proposed rules, banks won't be able to charge you a "dormancy fee" unless you haven't used the card for more than a year. If that's you, card issuers under the proposed rules can only hit you with one fee per month. And what about cards that aren't used for, say, several years? Those cards won't expire until they're 5-years-old. Some card issuers don't have expiration periods at all. (Some states have already enacted similar provisions.)

While Santa's hoping for these rules to come by next year, what can you do now to make the most of the cards you give or receive?
1. Choose right

If you know what your friend or sibling's favorite store or restaurant is, consider a gift card or certificate specific to that retailer. I've purchased gift certificates and cards for relatives who appreciate a brunch or dinner at a special place. But then there other recipients who just won't be able to find the time, so be careful. In this case, or if buying for someone you don't know as well, like the mailman or your kid's teacher, consider an American Express or MasterCard gift card, good almost anywhere. They're usually available at your local grocery or drug store.

2. Know the fees

While many card issuers have eliminated fees, some still have activation or purchase fees. Usually, retailers like the Gap or H&M don't charge an extra fee when you buy the card, but so-called "open loop" cards that allow you to shop anywhere, like American Express, do. For instance, if you buy a $50 American Express gift card, you'll pay an additional $4.95 to purchase it, bringing your total to $54.95.

3. Register it

Some retailers allow you to register a gift card online, a feature that could really save you if you lose a card or find it stolen. You'll also be able to check your balance. So before buying, ask if the card can be registered. Otherwise, you'll want to hold onto your receipt or be sure to write down the gift card's number (on the back of the card). The key is that you want to prove you bought the card in the event it's lost.

4. Use it

While we Americans love gift cards to the tune of $88.4 billion a year, according to Tower Group, some $6.4 billion is left unused. Can you believe people don't want to spend? So, if someone gives you a gift card, go splurge. Make a date to use it or to do some online shopping. Use the card sooner rather than later, and you'll reduce the chances of loss or of just never getting to it.

5. Know your balance

It's a good idea to jot down the balance somewhere, even if it's on the packaging slip that the gift card came in. You can also keep track on the Web, by entering the card number (located on the back) into your retailer or card issuer's Web site. If you keep your spending in line with your balance, you'll be less tempted to go overboard and into debt.

6. Show the cashier

When you're ready to use your gift card, let the cashier know right away how much you plan to pay with the card, and if you plan to pay some other amount with cash or another kind of card. The cashier is going to have a system to accept the gift card, and it's different in each store. Telling the cashier upfront that this will be a gift-card transaction will help everything go smoothly.

7. Cash out

If you have money left on a gift card and you'd rather cash-out, chances are you can. States have their own rules on this. In California, for example, you can redeem the balance for cash if it's less than $10. By the way, for your state's own rules governing gift cards check out its consumer agency.

The last thing you and Santa want when giving a gift is buyer's remorse. Hopefully, if you remember these tips, your loved ones will have a fun and memorable shopping experience, all thanks to you.