Salary rm1500 per month, I can apply credit card on which bank?
And which card have the best benefit ?
Currently I work in penang

This post has been edited by SAMANTHA TAN: May 18 2014, 02:49 PM

Unfortunately no...

you're better off with debit card.

when the bankers see you, all lights are instantly switched on

you are like their VIP of VIP's



in short, you're gonna make money for them for years to come

Pledge 5k FD with Maybank for Credit Card.
Credit limit 1 to 1.

5k cannot withdraw. Withdraw FD, card auto cancel.

When your salary up already, then you can withdraw FD and use salary slip as supporting documents.

Maybank got such package, didn't know about it.

got such thing? wow

Stanchart - 300k min FD collateral
Hong Leong - 10k min FD collateral
Maybank - 5k min FD collateral

So far, this is the one I know.

Now apply card, no need to have good salary or 3mths slip or etc. Got money, just place in FD to pledge in Maybank, then you will get a card. Easy fast and simple.

Best for those self employed. Want 50k limit, pledge 50k then

More profits for the banks esp mbb

Don't find Debts if you have Zero Debts !

If u think like this, then u are wrong.

Having a credit card doesn't mean having debts.
U can have a card, and have no debts. Is up to you on how u are going to control your spending.

Some people got 50k credit limit, and got 40k credit card debts.
Some people got 500k credit limit, and got less than 1k credit card debts.

Getting a credit card is good, so that you can create a CCRIS record in the BNM system. After age 30, if you don't have a CCRIS record, borrowing money from financial institution will be quite hard, unless you are working in MNC, public listed company. Kuci miao SDN BHD company, you will have hard time for your loan application, unless your company is reputable enough.

Card also good for rebates. Petrol, your utilities bills, promotion, points and rebate. If you know how to use wisely, it is a plus point.

I think MBB want to ramp up their credit card clients.
From no class to high class. Want to sapu market share.

5k FD pledge for 1 year for a credit card, I think is very easy for people to have a credit card already.

In fact, I just applied with MBB also.. Hehehehe. Also put kuci miao $$ FD collateral

Stick to debit card instead. When salary up 3k then only apply.

thanks! Now I only know got this kind of package 👍👍👍

hahaha, if you equate credit cards to debts then you sir are a retard.

credit cards benefit people i.e. rebates, benefits, discounts. anyone who pays the bank interest due to overdue credit card debts is an idiot in my books.

as for person who can't control your own debt..
" use credit card as the same as it was a debit card "

credit card...
got transaction dispute...you didn't have to pay
debit card....
got transaction dispute....say bye2 to your money (more dangerously if it link to your saving account)

Yea. Dunno why people can still think credit card = debt.

That is so old book thinking.
Credit card is a good tool. Only those who dunno how to use, simply use and simply whack will end up in trouble.

Credit card got so much discount, some give you free air travels, cash rebate, and it can also help you when you are in desperate emergency case, you won't know.

For some, credit card can use to leverage in investment. Example, when opportunities strike, cash out credit card and pump into the equity market. Once it goes up, sell it and clear all the outstanding. Leverage on money you don't have to create money. But this come with risk. Unless you are good and you know what you are doing, else, don't do this at all.

Owning 10 credit cards doesn't mean you are debt laden. Owning 1 credit card and spending beyond, then that is problem. So, start small, start young, control yourself now with 5k to 10k limit.

fixed.

citibank also got such services.
5k, silver.
10k fd, gold card.

hmm now i know my short term solution edi

Good advice.
Other banks?

I agree.

For 5K FD, what is the credit limit on the credit card?

The way I see it, credit card is like a two-edges sword. It's a great tool, but if you don't use it carefully and correctly, it can hurt you. If you think you can control your buying impulse, and reasonably educated in handing your personal finances, by all means, get some credit cards.

off topic warning
heheh - IMHO, it's not education that helps in using credit cards as a tool or destroyer.
It's attitude / emotional control +common sense.
Spending for most folks are emotionally laced - thus those evil marketing folks usually use visions of your love ones, dreams, etc to part us from our $

1 to 1.

U put 5k, u get 5k

U put 50k, u get 50k

haha ur so polite.

in simpler and more direct terms, credit cards works for people with half a brain. doesnt work for idiots.

Ya. They free you this free you that. Give you 0% interest installment for 2 years. Balance transfer and free a gift. Every month charge you rm100.. you won't feel it. But if 10 item every month charge 100... there comes the pain.

CIMB also 5k collateral FD.

1 to 1

even high commitment / having more thn two cards income below 36k per annum also can?

I would so agree with this!
End of the day proper finance management is the key. CC is actually a damn good tool to leverage on discounts and rebates. To me its benefits outweighs the use of cash.

Why not? what would they have to lose? you will end up paying them to use your money

agree, agree>>> free gifts. many many trolley bags to choose from each time i wanna travel. latest edition, ocbc's

agree agree!!!! basically, CC is equal to discounts & rebates plus free gifts.

Not true. Friend got a loan from a bank.. 40 years. If you have the collateral they will be more than happy to lend you the money

That is if you spend more than you have to pay in interests and annual fees

why need to pay interest & annual fees???? care to explain!!

If everyone take advantage of the rebates and pay in full every month, soon there won't be any rebate for us anymore.

We need to encourage more defaulters to contribute to our rebate/cash back/signing up bonus/gst waiver

this is stupid

if you have the 5k, better just use a debit card. why waste paying the interest to bank.

Interest only occurs if you settle the minimum. It's redundant if you're able to clear all your spending by the end of the billing cycle.

In most instances, you can ask the bank to waive your annual fees.

HAHAHA that's true!

U simply use and pay minimum.. then u get charged with interest lo.
you use and pay accordingly.. u get rebate, you get FD interestand help you lock money good good.

where got bad ?

Only those simply use and pay minimum will get interest. Other than tat, mana ada ?

Credit cards have annual fees.. and they will still charge you interest if you're late

Most of them annual fee can be waive if you got use.
Exception for Hong Leong Bank.

For late payment.. I dunno why a person can be late for credit card payment when there is online ebanking system.
Everything u use is reflected immediately in the system. U do transfer to pay the credit card just cost you RM 0.10 for IGB.

So what is the reason for being late? You can pay anytime from 0000 to 2400

1 reason for late = no money to pay
Why no money?
No control, simply whack with card.

If you buy things for company, use your card to swipe and get points.. End up you will be able to go free holidays and also free electrical items from points

So good to have credit card.

Petrol rebate is already good enough.

Having a credit card doesn't mean you will be paying for interest. Debit card has less promotion/cashback/rewards compare to credit card.

Side track a bit, I have a full flexi housing loan and I use it to receive my incomes to therefore reduce the interests (monthly rest, every last day of the month).

What I like to do is absorb as much as possible of my expenses in my credit card so that the cash can sit in my housing loan account longer to reduce the interest until the due date of my current month statement is up (usually i do it 3 ~ 5 days ahead) then I pay off my credit card balance.

To my surprise there are some purchases that can be done via an interest-free instalment plan. Instead of forking out that amount immediately, I subscribe to the instalment and end up I save interest on my housing loan.

I think mbb's minimum fd pledging is RM3k. But ne of the mbb agents told me that she had successfully applied mbb2cards for her customer who pledged RM1.5k only.

actually, I pay loan today...only reflect in account tomorrow...and sms asking me call customer service but that same day I see from online banking loan no outstanding...

I don't quite get the picture...how to save? can save on car loan? please help...

Only can save for mortgage loan because mortgage loan is daily rest, as in charging interest per daily basis.

Car loan is straight line.
50k car loan, 2% interest, means how fast u pay, u will be charged 2% for sure, which is 1k. Advance payment, prepayment, capital reduction will not reduce that 1k interest that is going to be charged to you.

However, mortgage loan is different. You can save interest everyday.

Not anymore ! It used to be, now its RM10k !!

really?

Addition to what you said, it's also about the mindset.

Some people tend to think that with credit cards they can buy now pay later, and at the end of the day looking at the statement, realizing that they overspent with what they have.

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