Lets say if i swipe my cc, and pay off every transaction instead of end of month total bill, will this help build credit score? Or i have to pay the statement bill in one shot after statement date to build credit score?

imo, doesnt matter

repayment, early or by due date, gives you brownie points too

since banks are giving you a credit line with repayment due date, sticking to it is as good as pay-off every transaction (like a debit card).

i believe the credit system keeps track of whether you have no late payment "0" or late by 1 month "1" etc instead of how quickly you pay off debt
however, paying off before the records updated to the credit system would result in lower outstanding amount, which may keep credit utilisation rate low
still, high credit limit would affect your debt service ratio

Any credit card giving cash back for govt services?
-cukai tanah, cukai taksiran

None.
But can be "filler" to achieve better CB %/amount on eligible categories (except StanChart CC).
Eg
HLB Wise, monthly spending >RM500
RHB Shell Visa, monthly spending >RM2500
(eg RM417 Shell, RM1000 Online, RM1083 Govt to get CB RM50+RM50)
RHB VS/WM, monthly spending >RM2500

This post has been edited by ClarenceT: Aug 16 2024, 07:32 PM

Thanks. My spending is low. I am not going to spend extra just for the cashback. For me, I will only spend if needed. So if a card have cash back from govt services, will get it. If no, then no.

'spend' not spend

I saw some forumer need to cancel some cc to apply for new cc. Thus, what is the guideline used by the bank to determine quota of credit card applicant already reached maximum limit?

Yes, that's correct. Banks report the total outstanding at the end of the month, so even if your Due Date is on the 11th for example but your utilization is over 33% then your credit score will drop. They don't care if you pay it all off before the Due Date. A higher Credit Limit is better if you intend to use it pretty often compared to say a 10K Credit Limit where you spend 4-5k every month before paying it off.

Maybe this?

Principal cardholders earning RM36,000 per annum or less are restricted to:
Only holding credit cards from a maximum of two credit card issuers
Having a maximum credit limit of two times their monthly income per credit card issuer

In reality does bank using this rule to consider to approve cc applicants for yearly income more than RM36K, besides looking on the payment history?

or course no la

more than 36k, you can own cards from many issuers

subject to their own approval policies. no bank works the same.

so, how about a Balance Transfer? How is the credit score if I transfer outstanding amounts from Bank A to Bank B?

Can you share with us as to why you are very concerned about your credit score ? Do you a have some sort of an unmanageable debt situation ?

I have one idea. Since some Banks offer 0% of BT, I can transfer some outstanding amounts to that particular Bank and use those amounts (amounts that are going to pay off) to invest in another tool to earn some interest. But if this approach affects my credit score, then things would be different.

In fact, I have a plain background and no loan on hand, so it is very hard for me to apply for CC since I have no credit history in the past 12 months. I just recently have one or two CCs after trying many Banks. I am going to build up my credit history by using CC wisely. I might probably need to buy another house, so I wish to have a good credit score. I would rather not take the risk if BT affects my credit score.

Do you have some ideas for me to build up my credit history and good credit scores?

Thanks in advance.

Do I need to call the bank to allow me to make card transactions while I am overseas? I need to travel overseas, and worry my card cannot work. I am using Maybank

Not necessary, but if you aree worrried then just give a simple call. No harm.

Hi all, I applied a stanchart CC via ringgitplus but didn't realize they have a cooling period of 18 months for that gift promotion, so I am not eligible for the guaranteed gift (I cancelled about 1 year ago).

The card application still got approved just that I can't get the gift. I don't to activate now as I applied mainly for the gift. Will I be changed the RM25 tax unknowingly?

Call bank to cancel it. You don't activate doesn't mean it is not active in bank's record. Always call to cancel unused cards.

Thanks, I'll call for the peace of mind.