Hi guys, currently, I only use a debit card, but am kinda interested to own a credit card for the sole reason of generating some (good) credit history.

I don't suppose if you guys know if this is a good idea (or would there be other ways of establishing a good credit history)?

Was just worried that when the time comes for me to apply for a loan (this is my real main concern), it'd be better to have some credit history than nothing at all.

I currently only maintain several savings accounts and that's it (no credit facilities whatsoever).

This post has been edited by morbo: Dec 28 2011, 12:03 AM

If you can use the facility wisely as well as take good care of the card, it is always a good idea to have a credit card. Having a credit history helps too especially if you are gonna get housing loans and car loans in the future!

As for establishing a good credit history, one of the most important thing to remember is to make sure you repay whatever loans you have on time.

Agree with above.

OT, in regards to change h/p number at ATM for TAC. My friend has confirmed that the TAC is send to the new mobile number.

Anyone here got Esso Mobil Public Bank VISA?

Just received the card but the credit limit is 50% lower than the highest card and also the lowest among all the cards I have.. Really kiam siap

Thanks for the replies zenquix and Gen-X!

Since we're on the topic of timely repayments, and I couldn't really find any advice in the "Ways to pay your credit card bill", I kinda wanted to ask :-

I have a Maybank savings account, and assuming I managed to get a Maybank CC, would it be possible to set some kind of Payment Instruction for my CC bill to be auto-swept from my savings account (essentially turning the CC into sort of a Debit Card). Ideally, I'd like to have this arrangement at no (or very minimal) additional cost to me.

No ... not possible. You want to turn a credit card into a debit card ? A debit card is a debit card and a credit card is a credit card. You need to learn to be aware of your credit limit and spend within that limit.

Once you hit the limit, just go into M2U to pay your credit card and you have instantly free up your credit limit.

No, hye, I don't want to turn my Credit Card into a Debit Card. I'm aware that with a Credit Card, the bank is in fact extending me a line of credit. Maybe I shouldn't have made that rather confusing Debit Card analogy.

All I wanted to know was whether I can have some kind of Standing Instruction in my savings account to settle my Credit Card bill.

This post has been edited by morbo: Dec 28 2011, 05:17 PM

Bro, don't worry too much about it, especially if you only have a credit card because the Statement Date is the same every month and therefore the Due Date also kind of fall within the same date every month (usually 20 days from Statement Date).

For example, if you Statement Date is on the 10th, your Due Date will be on the 30th (except for the month of February where the Due Date will then on 2nd or 3rd of March. Make it a habit to pay in full few days before the Due Date and you'll be having a good credit history

This post has been edited by Gen-X: Dec 28 2011, 06:32 PM

Auto payment of credit card bill using same bank's savings/current account is USUALLY free of charge.
I am not sure about Maybank.

Hi all, I got a question about cash advanced, few weeks ago I have press out some money from the credit card cash advanced, then today i call the hlb call center to check the their charging fees for cash advance, I was shock when they told me they charge 18% of total amount, I've read the first page of this thread you guys only stated 5%? So which one is correct?

Both also correct.

5% is the one time processing fee called cash advanced fee.

The 18%p.a. is the interest imposed on the amount withdrawn in daily basis until it's being cleared.

@ k3v1n

And that's why we discourage using the cash advance facility unless absolutely in an emergency. You can also read your cc welcome pack as the charges for cash advance are clearly stated in B&W.

No need to be shocked. It is all there stated in B&W.

You may be interested to read this article by me titled CC Are Cash Cow for Banks since you are currently "working" for the bank.


yalah, all stated clearly in the T&C. That's the consequences of not reading the T&C and not understanding the difference between Advance Fee and interest charges.

and he blame "us" for giving him the impression that the interest is 5%

And I just checked 1st post and it is stated Cash advance: 18% p.a from the date of withdrawal. Maybe alex you should add PLUS up to 5% advance fee.

Edited it already to include the 5% cash advance fees.

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Added on December 29, 2011, 11:10 amNevermind lah ... happens all the time.
That's why I prefer to give straight forward answers - little chance for misinterpretation. But I don't think I'll win the popularity contest.

This post has been edited by hye: Dec 29 2011, 11:10 AM

So if I pay the bill next month, let say I took rm300 from cash advanced, next month the bill should be rm300 + 5% or rm300 + 18%? Which amount I should pay?

Eg. If you withdraw on 1 Jan 2012.
First will be charged 5% as Cash Advance Fee
Second 18% will be charged ON DAILY BASIS from 1 Jan 2012 until you pay the Cash Advance amount.

Don't be stupid to do Cash Advance from CC... if don't have no money, never buy the item with Cash Advance.

This post has been edited by ronnie: Dec 29 2011, 12:36 PM

Ha?? Not if I withdraw the money from 1 jan 2012, then my bill due date is 25 jan.. It will only count the 18% after 25 jan? Now is I took the money on 1 jan 2012, then the interest 18% will charge everyday from 1 jan 2012??

Yes... start charge from 1 Jan 2012... The banks earn $$$ and make you bankrupt !!!

But the bank told me 18% is per annum.. Wat is mean by per annum? If per annum not every month charge 1.5% meh?? Why now everyday charge 18%? I really dun understand now.