1st credit card?

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bronzedgal

DO NOT get a credit card if you cannot control your spending and you cannot afford to pay off your bill at the end of EACH month - for if you do not pay it off, the remainder is carried forward to the next month with interest. Interest rates are very high now, 11 - 12%. Unlike house loan interest rates that are controlled by Bank Negara, our national bank has given banks a very large margin within which they can raise their credit card interest rates.

Naruto

Three simple rules:
1. Don't pay 5% - settle full amount every month.
2. Always pay before due date. Late payment will be penalised
3. Check every transaction - make sure you keep all transaction receipts for reference.

miss5miles

Everyone giving the correct answer already. I prefer using cash all the time hehe..

anderson

which ever card you choose, go for the free for life annual fees one, second go for overseas bank credit card.they have better security.

Joseph

pay on time and don't max out your credit card. Pay the balance off asap and don't let them sell you credit protection.

ANDERSON P

congrat on your first credit card and welcome to the world of debt!!

p/s even if you have credit card, just keep it for emergency case....if you can 'self-controlled" and make it a habit to pay everything off when you receive the statement.

Adi Keladi

Good advices are already given above. Just remember, it's very easy to swipe, but it may take years to repay (based on personal experience). Credit card is just slighly better than along (or ah long), you may even call it angah.

But credit card may be useful during emergency. With high discipline and good financial management, it has many benefits too e.g. points redemption, zero interest payment etc...

Don't be tempted by those promotions with free gifts, free interests and so many other free things offered by the banks, else you'll end up having up to 5 cards (that's when my problems in life start). It's even easy to get gold and platinum cards nowadays. Just ignore although it sounds like you will gain something or save some money. The banks are only interested to charge you interest as many as they can.

daniel*wm

When i got my 1st credit card, it was cool thing to have back then...now you can find every bank offering credit cards with gifts and free annual fees...to me it is a necessity in case i don't bring enough cash but usually end up paying with credit cards.
If possible avoid using credit card to pay for small items for it will accumulate your debts..still it's cool to have one in your wallet... :-p
Spend wisely little sis...

Trustee

Make sure you charge/purchase things that you knew you could settle ALL PURCHASES at the end of the month.

Do not ever let bills carry forward on the next month, or one day you wil live regret to ever have it.

PublicMutualConsultants

Direct Access from CIMB Bank (Previously Southern Bank). Free for life.... (No conditional of spending...) but you must be graduated with degree holder...

Mark C

Regardless of the assigned limit, do not spend more than you're able to afford to pay back at the end of each month. The interest rates will kill you and you'll never get out of debt. Try Capital One or Citibank - they have very good "intro" cards to get you started with credit. Be careful...

Sarah

use in for emergency cases only...or else if you make late payment the lawyers letter will be at your door step

Bo.$$

i have one credit card only and i use the card only when it's more convenient and safe [not save] to use it. I pay the bill in full so they can't charge me any interest. I never use my credit card whenever i don't have cash, so i will make sure i have enough cash to pay the bill in full. I only sometimes pay some RM5 penalties for late payment

Remember, a credit card is not a credit facility, it's just another convenient and safe way of making payment, that's all

My advice is, one credit card, and use it wisely

Jeremynet

wow! way back think of my first ever credit card in 8 years back. I am very excited when I received my first credit card.. thinking of buying any stuff you like by 'swapping' the card over.. wow.. excited.. just need to sign and you will get the item you want, great rite?

For my past experience. I have a lot of debts on credit card.. but after few 'great impact'... ... ... I have finally come down to understand what is the real meaning behind of credit card usage..

actually credit card is very useful when you face an emergency case.. such as hospital admission or medical use. Sometimes when travel. you no need to bring so much cash with you. but remember.. 1 easy way to control you debts on credit card is...

If you plan to spend 2000 for this month.. pay your credit card company 2000 in advanced before you use it. 90% people will settle the minimum amount when received their debts statement.. so if you paid in advanced.. you have no worry. Ask people with credit debts.. they will tell u the truth..

p/s.. I am a free man already . yeah! so happy

BEARIAN FINANCE MINISTER $$

my CC is just for paying petrol...

Gigi the teeth

I'm waiting a sub card from my mum. Actually credit cards are a killer, especially for a person who can't control their spends. But, quite nice to have a credit card in a purse~

Beach bum

HSBC or CITIBANK is pretty good.

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