Thursday, October 07, 2010

Credit Cards, Credit Cards Everywhere ...

I have several credit cards.
What for?

Reward Points.
Balance Transfer.

BUT, be very careful with credit cards - self-discipline is very much required.


In Malaysia, credit cards are normally free for life (annual fees FOC) - subject to T&C,
Except for the stupid Govt. Tax of RM 50 per card implemented last year or so ago.
Stupid Tax.

T&C to free for life is that you need to swipe your card at least 24 times a year - any amount.
So, if you see one very old car parked at the Petrol Pump for a very long time, it may be ME, 
swiping each one of my cards for a RM 5 (i.e USD 1.56) petrol purchase each . - Muahahaha ...

So, friends - anyone a Credit Card Hoarder like me?



If, you have valid complaints regarding your credit card but getting nowhere with their Customer Service, where do you go to?
Nope, not me or Lucky or Ghost Buster.


Bank Negara Malaysia (i.e Central Bank Malaysia).

See link below :-



Old Kitty said...

Wow!!! I keep mine to a maximum 2 and use them as rarely as possible. They're purely owned and run by the banks/credit card companies so it's all very interest rates led - so it's ok if you use it occassionaly and pay the amount in full. The minute you miss a payment or are unable to pay in full but only the minimum required, the interest fees shoot up to silly amounts so you end up in debt more than ever!!!

It's so different over at Malaysia - and very interesting too - thanks for the info! Take care

Ginger Jasper said...

We have store cards here that ammass points to spend in store. Then there are credit cards and debit cards. As you say cards everywhere.. Hugs GJ xx

Kea said...

No, just one. I used to have more and ran them up a few times, not on extragavant things, just normal life stuff like groceries and gee, vet bills. Had to remortgage the house twice to get out of debt, so now I have the one, which has more on it than I'd like, plus the line of credit (vet bills and the fence).

Interest rates are often close to 20% or more, though my one card is 12% -- that is considered low!

Brian said...

I think most of ours got cut up!

Jacqueline said...

I have a credit card and try to pay it off every month so I don't have to pay a finance charge (usually about 18%); I do earn reward points but it is a small compensation that must be built up over time to use...They are good since they allow me a few extra weeks to pay instead of paying cash...xoxo...J
We've missed you guys, especially handsome Lucky, while Mom was busy moving us and hope all is well...We are having a special post tomorrow (Oct. 7) about Mommy's first baby, Nikki; hope you can visit...kisses, sweet friends (extra for Lucky!)...Calle, Halle, Sukki

Miss Kitty said...


Dad has one card and he feels that is all one needs. His son who turned 22 today has had one for four years and has taken after dad and has only one. This way one can keep track of all the expenses.

Wishing you a wonderful day,
Miss Kitty and Egmont (dad)

Amy and The House of Cats said...

I don't use credit cards. I used to have them and well, it didn't end well. I could still get them but I know I will go a little crazy if I do, so I just avoid them totally. But there are times I wish I had one, like when I have a big purchase I need to make. But most of the time I am glad I don't have them.

The rules there sound a little crazy - the 24 times a year thing is kinda cool to keep it free but the tax is a little weird. I guess that every other way it is done would seem weird compared to what you are used to though!

lupie said...

It is always a love/hate relationship with credit cards!

I benefit most from the reward points! I had my vacuum cleaner for free!

I've heard horror stories of credit cards going out control. Temptations are everywhere!

Thanks everyone for sharing your opinions reg. credit cards. It is good to know!

Hannah and Lucy said...

Mum only has one credit card but tries not to use it much. She always pays the account off at the end of each month.
Too many cards are advertised and details sent through the mail it makes it too easy for debts to be run up.

Marg said...

Our Mom tries not to use credit cards at all. It is so easy to spend way too much plus we can't afford the payments. Those cards are very dangerous. Take care and have a wonderful day.

Whisppy said...

I have minimal credit cards but LOTS of pet shop cards! :)