New Credit Card Ruling

Bank Negara Malaysia (www.bnm.gov.my) on 18th March 2011 announced a new ruling for credit card applications. Now the minimum income requirement has been increased to RM24,000 per annum from RM18,000 annually.

Now a person can only have two credit cards from a bank. Taking into account the number of banks in Malaysia, I truly lauded this move.

The use of SMS alert for every transaction commencing 1 January 2012 is a good innovation.However I am not sure about the P.I.N. requirement for every transaction beginning 1 January 2015. Is the PIN required for the worldwide transaction or is it just for transactions in Malaysia only?