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.

https://forum.lowyat.net/topic/2997826/+640