Early this month, I posted a short article here at wordpress on Bank Negara guidelines and rulings for credit cards.
Come 1st January 2012, we are suppose to receive SMS whenever we do a transaction. Hopefully all the card issuers have got this said notification up and running.
Card issuers like Hong Leong Bank and Citibank have also started sending out SMS of a different kind to their cardholders. They are sending SMS offering increase in the cardholder’s credit limit. You see, BNM ruling states that card issuers are no longer allowed to increase credit limit of their cardholders automatically but need their consent.
So those of you who received such SMS and want the increase in credit limit, my advise is that you call the number behind your credit card (and not what is stated in the SMS) to verify with Customer Service on the offer. I kiasu lah, always take precautions to avoid headaches.
Anyway, click here to read my full article at blogspot titled Invitation to Increase Credit Limit by SMS, where my wife received an SMS from Citibank.Click here to read The Association of Banks Malaysia Announcement on Credit Card Credit Limit
