Since your new to cc, let me give u some tips.

1. Interest rate for cc is 18% interest p.a(per annum) means 1.5% interest per month
2. Don't use the credit card if you can't fully settle it every month
3. In the event u cant settle fully, the balance amount will be subjected to 1.5% interest
4. If u have pay late, u will b subjected to late interest amounting to 0.05% (not sure if they have change this %)
5. If u have a saving/current account with the same bank, you can actually do a standing instruction to pay the credit card
6. In the even u need cash, you can use your credit card to withdraw cash from atm machine but of course u will b subjected to 5% interest against the amount of cash u withdraw. For example if u withdraw RM1000, u will b charge RM50 interest immediately. If u withdraw less than RM1000, the benchmark for interest charge will be at RM50.
7. Now this is most important, if u have been paying late, meaning u fail to pay the minimum payment of the cc statement for 6 consecutive month, u will automatically b tag in CCRIS and u wont get to make any further borrowings from any bank smoothly since u will b classify as a bad pay master.
8. Now most CC card gives reward points so that u can use to redeem gifts from the bank that your CC is attach to
9. When u purchase high value object for example a watch, u might be subjected to a cc service tax(not sure what this tiax is call) that varies for different outlets ranging from 1%-3%. Always ask the salesperson what the amount is.
10.Finally when your purchasing something above RM500, make sure u ask the salesperson whether they have installment plan, cause most installment plan will comes with 0% interest on the amount u charge on the card.
11. Government has implemented RM50 government tax on each card u own which can b paid annually
12. Please check your statement as they arrive for sometimes they tend to charge you annual renewal fee which can very well be waved by just calling their hotline and ask them to waive it.

I think that is about it. Just dont use the CC cause you are using advance cash. Is good to carry 2 CC if u travel frequently. I have been to certain country that does not accept certain CC cause they're not familiar with the bank. IMO better CC are from foreign banks since they're more recognize.
Personally i keep 2 which i do not use unless is neccessary

mr hye: i m very sure im right, cause i was formally a bank personnel maybe the figures r different since i left the bank about 6 years ago

This post has been edited by lordsapt: May 22 2010, 10:42 PM