@dr2k3,
I'm quite sure that's not BNM's intentions.

i'm curious to know if anyone accumulates purposely some debts on their credit cards? Lest says someone with a credit limit of RM10k and they useses it until the max as they can afford to to pay it off in one go but chooses not to settle it but instead paid just a part of it so that they can use their money on other purposes? It is advisable to do so? The interest should be a killer not?

Some rich folks may just use cash advance to make more money than the interest charged

@beebee,
Yes the interest would be a killer; U shouldn't think of ur CC as an alternative means to give U better cash flow

@beebee

its not wise to do so..........the interest will make u pay more on that particular item..............if have money just paid it in full....unless its 0% thing

@ronnie,
I doubt real biz people do that; for just how much $ can U get from the CCs? Also, it makes no financial sense in the LT.

I guess when those internet scam like 12DailyPro was quite hot
12% per day return definitely beats 18% per annum charged by CC

yes i was wondering why would anyone do that as the logical thing should be settling the outstanding of the statements promtly to avoid any finance charges.

and no, i am not stupid enough to use that method but i have seen some people do that but they can settle the amount anytime they wish but they just dont want to do that O.o

@beebee,
Yeah some times these people just outsmart themselves. If U ask me for my opinion, it is to settle bill in full at the end of each month. Y let the banks make any more $ then they oredi do

@ronnie,
The underlying word is "scam"

@tinkerbell
yeah i thougt so too


ok another note, after using credit cards do you all find yourself spend more?

from the 5-6 years of my holding a credit card, i've noticed i actually spend more now than before i had a card, now when i spend for food/shop i can just simply use the card without much thought. As i dont like to carry much cash around, i normally would be using the credit card all the time, the plus side is i've got loads of points but i makes me kinda spendrift but it is manageble for me as i would settle it when i got my pay check so i dont accumulate much debt. I'm also thinking of stopping using the credit cards but it would be a great inconviniece i think.

@beebee,
I spend more as compared to last time but that's because I've higher purchasing power today than I had 10 years ago. Also, 10 years ago I used the CC only for emergency purposes; today I use my CC as a cash card *grins*

Generally, U shouldn't be spending more $ if Ur just using ur CC instead of cash. Just make sure U haf the $ before U swipe something CCs in my opinion should be utilised as a tool to make life more convenient for us all; not get us into financial debt and trouble *gulp*

If U think ur spending and swiping unnecessary, then stop carrying the CCs with U

anyone face this situation before where hyperstore doesn't allow you to use credit card if the total bill not exceed certain amount?
ASAIK, you can charge any amount to your credit card
any channel we can complaint about this?

@labtec,
Yes sometimes merchants onli allow U to use CC if U spend above RMX. I don't see how U can complain; just accept it lah

I faced that before.

I experienced below RM 10 and below RM 30.

@David83,
Er.. takkan go into 7-11 buy a can of coke also want to use CC meh?! *troublesome*

as long as they allow me to use CC, I will pay...even for RM1...

@TeraPox,
Isn't that a little 'inconvenient'? I mean, the wait time and all?!

no lar, 1 transaction will only cost you 1-2 minit only ma

7-11 accepts credit card?

My experience was at Sunshine Supermarket.

yeah... my friend living in the us said, there most of retail purchase even small amount are preferred using card than cash....

i wonder why RM5 premium toilets Robinson @ the gardens midvalley do not provide card payment facility...hehe