Do you dream of getting all the things you want with just a swipe? Grab everything now and pay later – this is the most incredible privilege that the Malaysian credit card can offer to you. So if you don’t have one yet, here are the things you need to know and do in getting that magic card:
- Look for Free-for-Life Cards
Back then, no one has to carry the burden of paying annual fees. There are instances when the bank doesn’t want to waive your annual fee. But don’t get frustrated just yet, because you can cancel your card anytime. Usually, the bank immediately waives the fees.
But you know what they say, the only constant thing in this world is change. Time flies and bank policies change. Some banks will deny your annual fee waiver even after many negotiations. So there, the ugly side of the modern banks – they can get nitty gritty with their waivers.
As a newbie, it is better to focus on “free-for-life” credit cards. In that case, you don’t have to beg for the approval of annual fee waivers.
- Have Cards for Different Categories
Before, credit cards were super! Some would give you 5% of your cash and an additional of 5 points on your next purchases. But the glory days of supercards came to an end. So if you are going to choose a bank, one of the things you should consider is if it is next to being super!
If you want to save money by using credit cards, the trick is you should not depend on the best or a supercard anymore. Assess the things you tend to spend most on and think of getting a cashback when purchasing them.
- Choose the simplest yet reasonable
In Malaysia credit card promotion is often, be it in advertisements or during direct sales. But when you try to test it for a reality check, there will be twist they didn’t tell you about. For instance, they will say that you will be given 10% of your cash back daily. But once you already hold the card, you will find out that 10% of the cash back will be rewarded if you spend a minimum amount, for example, RM 3,000 a month! What’s also frustrating is that their offers are only available in certain malls and certain weeks. So you better give some time on reading fine prints in the terms and conditions especially if your money is at stake.
So, it is recommended for you to choose the simplest cards with uncomplicated pros and cons but will still serve your purpose. Simple things are easier to understand and have lesser risks at stake.
You can have everything with just one simple card. In just a swipe, your life can greatly change. But of course, on the other side of your luxuries, don’t forget that you have responsibilities to do over your credit cards. Be wise money-wise!