Need all sifu advice and opinion

I have 8 credit cards in total (but I do not have CC debts, I controlled my spending and paid on time). Which one should I cancel? I planned to hold 3 cards only.

1. Maybank 2 Cards Gold
- This is my first credit card. No annual fee. It was worth it until MYB announced no 5% CB on utilities and petrol. In the past days, I could earn 5% + 5 points during the weekend. And I pay off my bill during the weekend to maximize the 5% CB per month.

2. Standard Chartered 360 Rewards
- No annual fee. Tied to my privilege savers account to earn an additional 1.5% rate p.a. and 5000 Points p/m if spend up to 1.5k per month on this card. Additional earn 5x points on retail & oversea spending. Currently, all my utilities and recurring transactions pay using this card.

3. UOB One Card
- Mainly for Groceries and Petrol spending.
- Petrol 5% CB on the weekend, Groceries 2% on weekend for the selected supermarket.
- Additional 8% weekend uncapped on movie ticket
- Grab cashback on weekend 10%, weekday 5%, promotion ends this month.
- Can waive SST & annual fee, but have to call in.
- Am quite happy with UOB CS.

4. UOB Yolo Card
- Online & dining shopping cashback
- 8 % CB all day spending on online shopping and dining (16 transactions and above per month)
- 5 % CB all day spending on online shopping and dining (8 - 16 transactions per month)
- Can waive SST & annual fee, but have to call in.
- Grab cashback on weekend 10%, weekday 5%, promotion ends this month.
- Looks attractive but it just encourages you to spend more money.
- Am quite happy with UOB CS.

5. UOB Ladies Card
- It comes with UOB One card and Privi Miles. Kinda like a 3-in-1 package. I planned to cancel this as I can use Maybank Amex to get points/ cashback.
- Can waive SST & annual fee, but have to call in.
- Am quite happy with UOB CS.


6. HSBC Visa Signature
- Applied because of the RM500 Lazada voucher promotion & airport premium lounge access
- Annual fee waived when there is at least 1 transaction each month.
- Point earning, nothing else special.

7. HSBC Amanah Card
- Quite useless cashback card because of the high cashback only will be given when you spend above 2k.
- Applied because of the RM500 Lazada voucher promotion.
- - Annual fee waived when there is at least 1 transaction each month.



Which one is worth to hold?

Thanks! Will take a look in UOB Yolo new T&C.

Which bank are you applying?

For ptptn, there is a table whereby it calculates how much is the minimum payment you need to pay per month. Pay that amount or more than that amount every month to make your credit profile clean.

This post has been edited by ongonglai89: Jan 21 2020, 01:53 PM

I don't think the government will abolish PTPTN with so much debt on hand. I fully settled my PTPTN loan last 2 years. and it is our duty to pay. Government loan to us at the cheapest rate to help us out on our study fee.

It is a loan, not a scholarship. So it is not free. Hence, start paying.

If straight A student, he/she doesn't need to apply loan, directly apply for scholarship.

Yeah, I know. No other option only come to loan. Free things always apply first.

walk-in bank to apply and tell them you need the card for a business trip.

Why do you need so many credit card? You can apply anytime but the bank's approval subject to your credit behaviour.

This post has been edited by ongonglai89: Feb 10 2020, 09:11 AM

Increasing the credit limit by applying for more cards? I do not know if the bank works that way. But what I know is good payment behaviour even more important that low credit utilization ratio.

Bank probably view you as a potential customer to be able to spend more/need more to spend.

Don't think you can do the auto payment for other than for Maybank CC. It is because there is no direct connection/sharing information between different banks. Maybank will not know how much you swipe using HSBC credit card.

HSBC Amanah, AF will be waived if there is at least 1 transaction per month.

Oh dear, time to cut off this useless card.

How much % of cash back yolo entitled for boost?

Interest normally calculates either starting from transaction date/posting date. It calculated backend. If you make full payment before the due date, no interest will be charged. Otherwise, it will continue to calculate by days.

I dunno if BNM has increased the annual income range. But from Google, it said those who earn RM36k pa and below can only have 2 credit card at maximum. Above RM36k, you can have more than that. You can always try if you really want those credit card.

I think you can. Approval criteria subject to the bank.

Why do you want to spend 3k using CC and expected to pay for the interest?

18% of interest is really a lot. this 18% is calculated daily if not mistaken. Not forgetting the bank might calculate interest outstanding x 18% as well. Do your research well before getting into credit card debt.

Pick the one that suits you the most. everyone has different preference on credit card benefits.