They charge you for all sorts of other things than the thing you used? Enlighten us please. Besides the gst, i dont recall seeing anythg foreign in my car statements.
And rich people do want credit card, because its automatically interest-free credit term. Alot of ppl dun understand the logic., and think negative things

err last time i have your mentality bro.. i also use debit card.. then i realise if i use debit card i dont have advantages compare to CC..

1) shopping rebate - swipe with my OCBC can get 1% rebate. not alot, but still its a discount. other cards give you points which can translate into free travel tickets or household items

2) petrol + groceries = 5% rebate. if you swipe rm700 on petrol and groceries every month, you're saving rm35, not alot, but still its a discount. for those that argue saving 5% every month is nothing, you do realise FD only gives 3.xx% a year?

3) 1 month interest free credit term. why? when i buy something now, i pay with credit card, but i dont have to pay to the bank until my statement comes. when it comes, they give you another 2-3weeks deadline to pay. meaning i can park my money in the bank FD or other loans first.

4) Interest free or low interest(1-2%) 12/16/20/ months installment. if the item eligible for 20months installment, and they only charge you 1-2% upfront. why not? 1-2% only, but i can park my money in loan facilities to reduce interest, or park in FD to get 3.xx% a year.

the only thing you have to do when you use credit card, and its the most important, is pay full every month! dont pay minimum. then you have good CRIS, which helps in applying loan in the future.

all these benefits, how can you ignore

har? not related bro.. i use OCBC, but i dont have FD with them..

why u all make it sound complicated? try yourself then you'll understand.

i take card from Bank A, i use it to buy something, i use flexi payment buy something for RM5k, pay 2% interest for 20months installment. i park my money in Bank A or Bank B C D or E. doesnt matter, as long as the interest from FD > the interest for purchasing.

you all cardholders really didnt thought of this?


and to answer your question, of course the cash back is from the credit card issuing bank..