I got a card because of the convenience of paying without bringing out overt amounts of cash to pay for things like petrol and to avoid bank costs of charging 50 cents for each transactions past the first four for accounts with less than RM5000 only to find that they want to charge me for mt card. Really a sad day to sacrifice convenience since I've always been fiscally sound and paying my bills monthly. Rather the extra burden for students and young working adults will be a bigger impact than those with cash and spending multiple cards to pay for their extravagant lifestyles. The people that will suffer will be those least likely to be financially unsound and defeats the purpose of their so called noble government's reasoning of teaching consumer to spend wisely. So take your RM50, I hope the banks will realise that charging small time users will not benefit their services and end up bigger losers as people cancel their cards. Rather if it is really the government's purpose to teach wise spending, charge higher premiums for any cards above the first and set an incremental increase for all subsequent cards. I think consumers should really give our finance minister and for that matter our PM who says he cares so much for us Rakyat a piece of our mind, even if we know that it will do no good.
On the other note being a newly income earner and one who plans to get married one day and own property the new slew of taxes really hurts. From the soon to be imposed GST to the property gains tax and a more than likely increase in fuel price once subsidies are revised following the new year, living looks to be getting harder while real income are still low. The constant deficit spending and money lost to crony-ism and mismanagement of funds by the government (where it goes does not have to be said outloud as we all suspect why our government is constantly cash strapped) looks to be hitting the rakyat hard and the next year looks bleaker to those who does not own million (and cheating the IRB by not paying tax while we do) and live in comfy mansions in Klang or part of UMNO Putra.