RM800 + RM500 =RM1300.

Reason why Titan_Gunners mentioned you need Maybankard 2 Cards (the American express earns you 5X treats Points everyday PLUS 5% cash back on weekends and OCBC Titanium MasterCard is because both the MBB 2 AMEX and OCBC TMC has a monthly cap of RM1000 spending for the 5% cash back, i.e. Maximum cash back RM50/month/card.

And what Titan_Gunners mentioned about us getting 5% cash back is true at TESCO. If I am at Tesco on a weekend, I will use my Maybankard 2 Amex to buy one carton of Marlboro lights and earn 5x TP and 5% cash back

As for your loan, you can not use credit card to pay for it.

And does it matter to have FREE Life Time Annual Fee waiver, of course bro, instead of paying for the credit card annual fee, we can use the cash and buy more fags (and die earlier too), hahaha

And since you mentioned food, I just published my article Dining Promotions with My Credit Cards, click here to see what card may benefit you.

This post has been edited by Gen-X: Sep 25 2012, 02:50 PM

It was probably the lack of sleep. Had not been able to process the impact of annual fees. I'll be back in a bit after reading up on OCBC and MBB2. Thanks a million for your input!

sory sory.. long time no chat here d.. hahaha~
mind my words..

I definitely meet the required income, but the problem is I've been working for only 3 months, right after my graduation. Am I eligible for a CC?

Want the CC to do installment on my upcoming major car service, cinema (atleast once a week with my partner), RM200 insurance, and lastly must be convenient to pay the CC bill, like M2U or RHBnow. Want to build up a nice credit record so next time apply housing loan or etc also easier.

Yes to free annual fee.


TQ

This post has been edited by B u B u: Sep 25 2012, 10:30 PM

Hi all, I'm looking for a card that does not use mobile phone activated OTP for online transactions. I work offshore & frequently spend up to a month at sea, during which I have internet access but no mobile phone coverage. My current card (HSBC) introduced OTP for all verified by visa transactions the past few months & this has stopped me from carrying out online transactions since then. My average salary is around RM100k/year atm. Appreciate any feedback

Thanks!

AMEX or get a prepaid internet virtual debit card (but there are extra fees involved when you make deposit) or use paypal.


Since you did not mention your income I shall assume it is less than RM30K per year and as such you are only eligible for Entry Level Credit Cards.

And since you do go to the movies once a week, and if you go on a Friday, the best credit card to get for movies is Citibank Clear Card. First year annual fee should be waived. However, all Citibank credit cards do not come with auto annual fee waiver mechanism and as such you have to try your luck to see if they will waive the annual fee next year and following years. Click here to read my article The Best Credit Cards for Movie Tickets.

You got a car but don't need a CC for Petrol?

Having said the above, you started off with "CC to do installment on my upcoming major car service," this is a very dangerous reason to want a credit card. Seriously, you should never consider installment plans and pay interest for things you cannot afford. You just started work and you want to be in debt?

I advise you to read my articles below:

Life - Pay Now with Credit Cards Earn Later OR Save Now For Retirement which is the Prelude to my series of articles for Credit Card newbies.

0% Interest Rate Installment Plans with Credit Cards - It IS A Trap. By the way, I don't think you can get installment plan for sevicing your car.

You most probably will save some money with Citibank Clear Card (especially if you go to TGV for normal tickets), but, be warned, a credit card will entice you to spend more and I seriously think based on your current financial situation where you cannot even afford to service your car, better not to have a credit card.

This post has been edited by Gen-X: Sep 26 2012, 09:09 AM

Firstly thx for your help.

Just to provide more info...

Annual income minimum 32K, but depending on commission I get, it might go up to 40K per annum..

Actually I've accumulated about 10K of cash for the past 3 months, but I don't want to spend 1 lumpsum straightaway for my car service, because the service cost 3K+- (Major service). Although I have enough cash to pay for that, but I am hesitating to spend that 10K incase any emergencies happen, I have enough cash to fix the issue...

Lastly Petrol fully paid by company...

TQTQ for ur help

1. Annual Income: RM36K to RM48K

2. Free Lifetime Annual Fee: A Must

3. Card required for: Petrol, Cash Back/Rebate Only and Installment Plans.

4. Existing credit cards if any: Nil.

5. Preferred Bank or Considering CC from banks: All except for Maybank..

6. Others: None, I prefer a bank that gets things right because I don't have the time to tango with them.

7. Fixed expenses per month with the card: RM1.4K - RM240 petrol, RM200 groceries, RM350 Dining, RM50 Telco, RM300 Insurance and others RM260.

8. Non-fixed expenses but recurring in RM: RM2k yearly for flight tix.

Thanks !

Bro, glad to know you have savings of RM10K in 3 months

Major service RM3K, what car you drive? Maybe you should change car

As for you reasoning of wanting to go with installment, here is something for you to think about:

Case 1

Cash in Hand (RM10K) less CC Outstanding Balance (debt/liability RM3K). Therefore Net Worth = RM7K today.

But because the interest rates in savings account and FD is less than effective interest rate (always determine this as most CC plans charge interest upfront or maybe a fee) imposed by credit cards, everyday you becoming poorer.

Click here to my article on The Best Savings Accounts in Malaysia

Click here to my Fixed Deposit Page to see highest FD Interest Rate.

So unless your credit card imposed effective interest rate of less than the interest rate from your savings, you are getting poorer by the day. In other words, go for 0% interest installment plan to make sure you getting positive interest.

Case 2

Cash in Hand = RM10K and pay of the car service RM3K (Debt/Liability = RM0). Therefore Net Worth = RM7K today (same as above). However this time, you are earning positive interest from your net worth and as such you are getting richer by the day.

Actually, in both cases above, you would have more than RM7K by the time you settle the credit card bill once your monthly income comes into play. Tip - read my Intro to CC 101 (after the Prelude mentioned above) on when to go for your car service and get up to 45 days 0% interest free "loan".


No MBB? What a waste.

Get OCBC Titanium MasterCard

For your RM240 petrol, RM200 groceries, RM350 Dining, RM50 Telco = RM840 x 5% = RM42
For your RM300 Insurance and others RM260[/b] = RM560 x 1% = RM5.60
RMTotal just below RM50 OCBC Monthly cash Back Cap.

But if add the RM2K for ticket one go, then will overshoot the RM50 cap

Should get another card for Petrol Maybe like UOB One Card where you can earn cash back of 5% but cap at RM20/month or RM200 petrol. Can also consider Citibank Cash Back Platinum which also offers 5% cash back for petrol.

And if you apply the Standard Chartered Bank Business Credit Card now, you can get 5% cash back for Petrol for limited time BUT more importantly you get FREE Cash from SCB (apply online to get more).

Like I said, what a waste you not willing to consider Maybankard 2 Cards.

And check out my article Dining Promotions with My Credit Cards to see any credit card can benefit you.

Wow bro thx for the prompt and detail reply.

Erm...so do u think I'm eligible for any CC? Cuz I jz worked for 3 months...

TQTQ

I'm currently a client of MBB and I have to say that their customer service is sub-par at best. Thanks for the recommendation. I will look into it !

Guys want to ask something...

Say every month I have RM400 of petrol allowance, but this RM400 is not given to me in monetary term, but a Shell Card with RM400 credit it in. Should I factor in this RM400 when I calculate CC required annual income?

TQ

Most of the time they will only evaluate based on the items appear on your pay slip.

1. Annual Income: RM48 to RM60K

2. Free Lifetime Annual Fee: free

3. Card required for: List all your needs. food, petrol, online purchase, oversea transaction

4. Existing credit cards if any: Nil

5. Preferred Bank or Considering CC from banks: have saving account with cimb, maybank and bank islam, for maybank have personal and my company account

6. Others: NOne

7. Fixed expenses per month with the card: rm1000 for oversea transaction, rm500 food, petrol

8. Non-fixed expenses but recurring in RM: None

For overseas transactions go with Maybank credit cards as they currently have the lowest overseas conversion fee:

For MBB, you have two options:

1. If you pump at Petronas only then get the Maybank Petronas Visa Credit Card. 5X Treats Points at Petronas Station and on Weekends 8X TP for Petronas and Groceries.

2. If you pump at Petrol Stations that accept AMEX, e.g. Shell and Esso (Petron soon), then get Maybankard 2 Cards. The American Express credit card earns you 5X TP everyday PLUS 5% cash back fon Saturday and Sunday for any type of transaction. For overseas transactions, use the MBB 2 Visa or MasterCard as the conversion rate because the AMEX card is very high. And this MBB 2 Visa or MasterCard do earn you 1X TP if the even that the petrol station does not accept AMEX. Now, you may earn 5% with the AMEX on weekend for you overseas transactions with the AMEX but this is very tricky if you are doing online transactions and is not guaranteed.

For more info on overseas transactions click here to Credit Card Foreign Exchange Rate Thread

And if you do not mind having a card outside of CIMB, Maybank and Bank Islam, the OCBC Titanium MasterCard is a very good card to have as it earns you 5% cash back everyday for Petrol, Groceries, Dining, Utility Bills and Telco autodebit but the cash back is capped at RM50/month or RM1K spending. That's like maximum RM600 cash back a year.

super thankss !!!

Anual income 40k

Free lifetime : a must

Spending : Hotel average rm900 per month, petrol rm400, utilities 200
telco 150, dining and grocery : 100

Other : i planning to apply card mainly for my outstation claim. The spending is like above. So i want to earn a cashback or point. At least it worth something. Anyway i spend mostly on weekday. As weekend i not working.

Card owned : maybank ikhwan.

Looking for cc from : doesnt matter as long i can earn and it worth the spending i made

For your Hotel Bills, if most of them accept AMEX (3 Star and above usually does), then get Maybankard 2 Cards where you can earn 5X Treats Points everyday with the MBB 2 AMEX. Better than your Maybank Ikhwan. However, if they don't accept AMEX, then no point getting the Maybankard 2 Cards.

As for your Petrol, Utilities, Telco and Grocery which adds up to RM850, the OCBC Titanium MasterCard is just perfect for you as it earns you 5% cash back for these type of expenses.

This post has been edited by Gen-X: Oct 1 2012, 04:38 PM

1. Annual Income: RM36K to RM60K (Fixed ~36k but have other variable income)
2. Free Lifetime Annual Fee: A Must
3. Card required for: Insurance payment, cash back / rewards in daily usage
4. Existing credit cards if any: Maybank 2 cards
5. Preferred Bank or Considering CC from banks: Any except Maybank since I have one already and want try others
6. Others: Want to maximise points or cash back in places that does not accept Amex card especially insurance
7. Fixed expenses per month with the card: Currenly RM108/month for another year in existing card for installment
8. Non-fixed expenses but recurring in RM: N/A

Any recomendation? Thanks in advance

Try other cards? Go apply for all lah, hahaha.

You failed to mention your monthly expenses amount e.g. Insurance RM?/month If your insurance and other expenses is less than RM1K per month, no point to get another card, as your MBB 2 Visa or MasterCard will do (i.e. 1XTP roughly 0.5% returns).

Reason being, assuming another card earns you 1% cash back and you only spend RM1k/month with that card, you only earn RM10/month or RM120/year. Less GST you only earn RM70 versus your MBB 2 Visa or MC RM60/yr (**Edited RM12K/yr x 0.5%). So net you only earn extra RM10 for the entire year or less than RM1/month ... wasting time.

Having said that, since you want to try other cards, go and apply Standard Chartered Bank Business credit card where they are giving out FREE Money (apply online you get more)

This post has been edited by Gen-X: Oct 2 2012, 08:40 AM