Tips to choose the best credit cards

Hai dear,

Get a credit card with a plain-vanilla financing interest rates lower.Because any interest you pay on the balance carried forward to be offset against any interest you earn. Also, compare Payment Program Easy/Flexi Payment which might be useful for larger purchases. You can ask the bank to convert purchases to easy payment scheme/flexi payment, which put it at fixed instalment plan at special interest rates.

If you are already carrying a large balance, many credit card also offers balance transfer programme you need to consider. Balance transfer Program allows you to transfer your balance from the current credit card to the new card at special interest rates.

For those who Want immediate cash

Your credit card can be used to obtain cash advances. There are 2 ways. The first, is to use your credit card at any ATMs to make withdrawals with PIN code correctly. Remember that there are two costs to consider when using your credit card for a cash advance that:

Cash advance fee ( at 5% of the total)

Cash advance interest rate is usually 18% p.a. calculated on a daily basis.

The second method is to obtain cash loans (sometimes known as Liquidity or cash Immediately or dial for cash). These loans are taken on your credit limit available, transferred to a current account or savings on your choice, and repayable by instalments remain in a given period. It is the same with "pre-qualifying" personal loan. The customer wishes to apply for the facility should contact their respective banks and make the request.

For those who like to keep the cost of

Find a credit card with no annual fee and the option to waive the CST. Compensation/benefits/programs are not quite important.

For Muslims who are Loyal

Get Credit Card Islamic. This card is used only for transactions with merchants halal.

For The Rest

If you are not bringing balances forward, does not need to be in place by comparing the interest rate financing. On the other hand, get a credit card that gives ganjarann/benefits that you really want. This benefit can be categorized as follows:

Cash back benefits – Providing certain as rebates on% transaction credit card. The safest bet for those with no choice.

The benefits of Petrol – Give high% rebate on petrol purchases. For road worriors and travel sales person.

The benefits of Travel – Usually comes with the benefit of the frequency of flights and the airport. Best for those who frequently travel.

RP – redeemable for prizes and other rewards. For people who spend large and are fond of shopping.

Contact the dealer/Co-branding – special promotion programmes with selected merchants. For those with specific needs.

Registration – limited time Bonus to reward promotion for check credit cards by bank. If there are any, look for a card that has an interesting promotional sign.

Other Credit Card Tips

Avoid applying for credit cards too much at the same time. It carries a negative for your credit profile.

If you do not have a credit sejara in Malaysia (for example a car loan/housing loan/personal loan/overdraft facility), have at least one credit card. It can help your credit profile.

Credit cards have interest rates between the financing of all credit facilities. Try to pay all credit card balances immediately.

Conclusion

When choosing a credit card, someone should look into all the various dimensions, then disconnect the card that fits your lifestyle before applying. However, when you get your credit card, remember to pay your balance due if you can!

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Credit card usage fee

Hai dear,

There are various types of charges that you have to understand, including:

Joining fee

The credit card issuer may impose a fee will be charged only once. This fee may vary from one credit card issuer to another.

Annual fee

This is a flat fee payable once a year. You are required to pay the fee even if you never use your credit card. The annual fee is usually in within RM60 to RM90 for classic card and RM130 to RM195 to gold card.

Finance charges (interest)

This is a fee that is charged to you by your credit card issuer for the remaining unpaid after the due date. This charge is usually calculated based on the daily balance. With effect from 1 July 2008, the interest rate charged is elevated in the repayment of the cardholder. It aims to promote the use of credit cards in discipline among cardholders. Starting from March 31, 2009, the new interest rates are as follows:

Cash advance fee

This is a fee charged for each cash advance obtained. This fee is usually 3% to 5% of the total cash advance taken and is in addition to the finance charges imposed on the amount of the advance is given to you. Finance charge calculated from the date the money is taken or when the amount stated in your credit card account. The amount of the cash advance is likely to be capped for each client.

Late payment charges

These are charges levied if you fail to pay at least the minimum monthly amount before a specified date. If you pay after the expiry date, you will be subject to finance charges (interest on the outstanding balance) and late payment charges. Late payment charges can reach 1% of the outstanding balance or a maximum of 75 while a minimum of RM5.

Details of all fees and charges your credit card at your banking institution's website.

Finance charges, fees and interest free period

You can enjoy an interest-free, usually for 20 days from the date the item is first recorded (for purchase only) If you do not have any outstanding amount payable from the previous month. Therefore, if you only pay part or the minimum amount of the balance due, you will be charged interest on all purchases made via your credit card balances from transaction date recorded.

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Good bad credit card usage

Hai dear,

When the application get approved credit card by the bank and new first time holding the cards, some smiling reach the ears as if proud and satisfied.

A pride for successful credit card because it is considered a symbol of personal status. Sometimes you ask yourself why there must be a credit card.

But some are proud to have more than one credit card.

Has how many credit cards is not an offence. Just, think of each year will be charged the annual fee. Excluding the expense of using a credit card.

Some people say, credit cards can be your boyfriend loved but can also become a hated enemy. It is loved because it helps you in times of need, especially for an emergency, but hated because of the amount of the credit or debt to be paid back.

If a little bit not apalah, but if it's already hit a dozen were thousand dollars, it can affect your emotions.

Credit card as described earlier, it is not an offence. Simply, use the credit card should be smart enough to ensure that our financial position is healthy and controlled.

Credit card of the knife there is a lot to keep its interest if it's wise to use it but can be lethal if misused.

Beneficial if prudent use

Already much said about the pros and cons of this credit card. A credit card is a payment electronically who allow us to buy goods or obtain services without using cash. This card be useful tools if we know to use it wisely. Among Them Are:

• A payment method that is simple and efficient

• Can buy goods and services online (online)

• Using the monthly statement to track expenses for purposes of plan expenses or budget.

• There is a credit card that provides cover for personal accident insurance and travel insurance free of charge, depending on the type of card offered.

• Enjoy exciting scheme such as interest free installment scheme, flexible payment scheme and balance transfer rate of 0 per cent to maximize purchases

• Be able to reward points to redeem the goods and services are usually not recoverable if payment is made by cash

Always remind yourself

Generally, we like to have a credit card because the factors already listed above. In simple terms, with a credit card, to owe because of several factors such as not enough cash while we do are in dire need of the services or goods at that time.

However, before signing and submitting the application form to obtain a credit card, learn about advance terms and conditions as may be prescribed.

If you already have a credit card, what's wrong of the terms and conditions. Know it can remind yourself so we are more prudent when using the credit card.

Among them are a maximum limit for each card. If this limit has been applied, we can not use the card to pay part of the fees.

Typically, this credit card limit is two to three times our monthly income. If we use a maximum limit, that means we've spent two or three months the future earnings of us!

Non-free

Credit card is actually not free. There are fees and charges and we have to understand, such as:

• Participation fee

Credit card issuers may charge a joining fee once. This fee may vary from one issuer to another

• Annual fee

The fees to be paid when we accept credit cards. There is also a credit card issuer that exclude this fee if we meet the conditions of its use. Refer to your credit card issuer.

• Finance charges

These are the charges imposed on the outstanding balance after the payment due date and calculated based on the daily balance.

During this time, the credit card holder bearing in the bunk. The aim to promote the use of credit cards is disciplined.

• Cash advance fee

Apply every time the cash advance is made and is usually between three to five percent. This fee is additional financial charges and calculated from the date the cash taken.

• Late payment charges

This charge applies because we fail to pay the minimum amount monthly before the due date specified. If we pay after this date, we will be subject to finance charges (interest on the outstanding balance) as well as late payment charges.

• Service tax

Remember! Starting in 2010, each credit card will be charged the annual service tax of RM50 and above the holder of principal card and RM25 on supplementary cardholder (supplement). This fee will be included in our credit card statements.

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Avoid credit card fraud

Hai dear,

Credit card fraud can result in you and your credit card issuer suffered large losses. Credit card issuers always frauds against fraud and have taken security measures to protect you. However, you should also take the necessary measures to reduce the risk of becoming a victim of fraud.

Protect your credit card

-Sign your credit card as soon as you receive it

-Save your credit card at the same place in the wallet or purse so that, if it is lost or stolen, you will notice it immediately

-Do not lend your credit card to anyone

-Do not give credit card details (for example the card number and expiry date) to strangers because it is probable that the information was used to make purchases by phone, mail or the Internet

-Memorise your PIN and never write down the PIN on the back of the card, store it in the wallet or disclose it to others

-Memorise your PIN and never write down the PIN on the back of the card, store it in the wallet or disclose it to others

-Make sure you have cut the credit card has expired into two parts when you get a new

Check credit card transactions to avoid unauthorized transactions

-Check all the details found on the booking transaction slip before signing or verifying per transaction

-Save all your transaction slip and check your monthly statements as soon as you receive it

-Let your credit card issuer immediately if there are any errors or potential unauthorised transactions

-Destroy all slip-slip transactions before you throw it away

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Tips to choose your best credit card

Hai dear,

With a variety of credit cards offered in the market, it is important that you choose a credit card that meets your needs. Compare rates, fees and charges as well as the features offered by each credit card issuer before deciding.

Here are some tips in choosing a credit card or evaluate credit card is with you:

Promotional gifts

Credit card issuers may offer you promotional gifts such as mobile phones, leather wallets and others to promote their credit card. However, before applying for, it is important that you understand the terms and conditions contained in the offer. Telitilah conditions set for promotional gifts and penalties will be charged if these requirements are not complied with.

Low charge rate while

To attract your attention, credit card issuers may charge fees and finance charges at a rate lower or abolish the charges at all for a certain period of time. Promotional leaflet might pay attention to the initial low interest rates with a large font size and readable, sometimes without displaying the expiry date.

The interest rate after the end of the promotion period is not stated so clearly, that is by using a small font size and may just be listed on the back of the application form or on pages on a promotional brochure containing many pages.

You need to understand the conditions of promotion and realizes when the promotion period will expire because you may be charged as usual or at a much higher rate after the period ended.

Finance charges and fees

Different card issuer will charge different fees for the convenience of cash advance, usually between 3% to 5% of the total issued and finance charges (maximum 18% of the total issued).

Always select the credit card charge lower fees and make sure you understand the terms and conditions imposed for balance transfer scheme offered before using it.

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Tips to reduce credit card charge

Hai dear,

You can avoid imposed some type of charges but still have access to credit cards. Here are some tips to such need:

Make a comparison to get the best deals. Search the event annual fee waiver and entry fees, at least for the first year.

Make cash advances via credit card as a last resort because interest (finance charge) and fees are very high.

Pay before the due date of your return to avoid paying interest and late payment charges.

Try to settle your outstanding balance to avoid paying benefits and learn as a result of paying only the minimum amount all the time.

Limit the number of credit cards held based on need and ability to repay.

Be vigilant for any changes to the policy and interest rates.

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Choose a credit card

Hai dear,

If you plan to get a credit card, select the credit card that meets your needs. Choose wisely and do not decide to hurry up to get your credit card. Read the description carefully.

Compare rates, learn about the terms and conditions to get promotional gifts or low rates offered temporary credit card issuer before deciding

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