[quote=supersound,Oct 13 2014, 05:56 PM]
I won't say that is a guru, more like a drug dealer pushing some drugs.


Actually his advice is right, get a credit card to show some repayment behaviour/record for the bank before you commit to a larger loan.

Basically, once you got a credit card, your ccris record will have your credit card limit amd usage and repayment behavior.

if one would delay his card payment, eg got 2 or 3 appearing, chances of getting his loan for mortgages or car will be tough.

however, if a person does not have any ccris record, it does not mean that you won't be able to get loan. You will still be able to get, however, your record might not allow you to huge commitment or a better margin or a better rate.

Different bank got different criteria. Example of one of my previous client, although working in a listed company, at age 28, without any ccris record, hong leong bank approve a margin of 80% instead of 90% for his financing.

it is good to have credit card. Credit card doesn't mean many debts, it is ur own hand that determine whether you want to simply use or not and create unnecessary debts.

For fresh graduate working in MNC or listed company, your loan application might have a better chance, you cannuse apply loan using 3 mth payslip.

however, for small timer unknown sdn bhd or enterprise, you will need to provide payslip, bank statement, epf, ea form, income tax for a better chances of approval

Your question cannot be answered accurately because of inadequate information.

But based on Annual income of RM75k, nett pay almost around 65k, which means a monthly nett pay of RM 5.6k.

At RM 5.6k nett a month, say a DSR of 70%, that's a balance of RM 3.9k for your bank/financial installment to cater for your
- Car loan
- Mortgage
- P/L
- Credit Card

Based on a loan of RM 1million, interest rate of 4.4%, a 35 years tenure, monthly repayment is RM 4670 a month. So this case, no need to think much about it although you have a good payment record, because your income also doesn't allow you to commit to such thing. If your age is older, like 50 years old, the tenure will be slash further, putting a higher commitment.


Exception case is unless you got
- A huge sum of cash in your bank, say 500k, put to FD and pledge to the bank, lock for 35 years.
- Take in a joint borrower which had a strong income, at least can commit another extra RM3000 a month
- Or don't opt for 1m loan, opt for a lower margin.

I love credit cards...

It makes my wallet bulky

Cash will not be replaceable in transaction...
but future will be seeing more cashless transaction soon.
now hong leong got PEx.. use telephone number.
maybank got cashless payment
and some retailing line is using visa pay wave...

anyhow.. i will use cards if got the opportunity. Get points get rebates.. why not ?

Yeap.. Cashless transaction is so much better, faster, cleaner and easier.
Imagine the cashier counter give you a change with full of 5 cents, 10 cents, 20 cents and 50 cents..

1 month back, the cashier at Texas Chicken gave me a change of around 85 cents or 90 cents - all with 5 cents...

For those living in condo, where management fees are payable every month.
You can opt to pay 6mths to 12mths in advance with a high cash rebate card. It is actually very worth it to do so..
Max out the rebate, and put to freezer until the next payment come

Yeap.. That's the rules

A penny save is a penny earn.

Sikit sikit, lama lama menjadi bukit.

Rake some part time.. earn extra income.

start doing resume, and hunt for a better paying job.

Do online business at home..

Teach ur wife to do also...

well, that is life.. if dun want to do, then have to live life that way again.

no pain no gain man.