Category Wealth Management

Solving The Case of Cash Rebate Credit Cards: Should You Get One?

March 19, 2017 BusinessWealth Management  No comments

20110413.090855_cardsEver wondered why Malaysian credit card companies reward their customers for retail purchases? Yes, it is part of their strategy to lure new customers and keep the existing ones. This marketing plan comes as no surprise given the intense competition among credit card companies. You might be thinking, “Does this cash rebate thing really benefit me?” That is an excellent question because there are credit card holders who claimed rebates only entice them to shop and spend more. This post explains the good side of credit card rebates and why you should apply for a card now.

 

  1. Some companies offer maximum benefits. What features make a good credit card? A good credit card is one that provides no cap on rebates or automatically credits deductions into your account every month. A better cash rebate credit card in Malaysia does not have an annual fee for the first three years. You don’t want the cost to eat away any profits you could make from the rebate. A credit card with no annual fee is one of the most important features to look at, especially for first-time credit card holders.

 

  1. You can earn more points out of the items you regularly buy. Gone were the days when companies only give rewards when you purchase to a few, selected merchants. Now you can earn rebates from eating at your favorite restaurant. Many Malaysian credit card companies even extend their services to supermarkets, drugstores, and gas stations. Because these are the essentials, credit card holders can take this as an opportunity to earn more without worrying about where to shop.

 

  1. It encourages you to become a more responsible credit card holder. A cash rebate is like free money to the responsible card user. One mistake that people make is always using their credit cards on all purchases, thinking that they will get something in return. Or at times they buy something they cannot afford. It will not make sense to receive a little something from a cash rebate when you have to pay high interest on your balance.

 

As the end-user of a certain product, the final decision still depends on you. So you will still be the one to choose which credit card to get. The best thing you can do is compare cards and pick one that you think offers the maximum benefits. Malaysian credit card companies have their own sets of reward programs, and you might want to check if your preferred bank offers cash rebates.

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Tips for choosing the right debit or credit card

October 10, 2014 Wealth Management  No comments

CARD PAYMENT SCHEDULE
If you are looking to compare credit cards, here is a smart way to keep your bills down. Inquire about the option of paying your bill twice per month. This strategy is especially beneficial if you are carrying a large balance and want to reduce the amount of interest in which you pay each month. A credit card company which allows you to make multiple payments each month will help you to raise your credit score quickly and effectively.

CARD USE AND FRAUD PROTECTION
Protecting your identity is one of the most important things you can do when using your credit or debit card. Older cards primarily offered the magnetic strip form of scanning technology. This method of purchase authorization left your card vulnerable to double swiping and other dangerous scams. The newer generation of cards now has a chip which contains information about the purchase history of the card and other vital statistics pertaining to the cards use. You need to be familiar with the fraud protection policies of the card issuing company. It is essential to know the suspected fraud reporting process in order to minimize your potential damages.

UNDERSTAND LATE PAYMENT AND OVER DRAFT FEES
It is helpful to be knowledgeable about the amount of money you will have to pay if you make a late payment. When using a debit card you should also inquire about the availability of overdraft protection. The protection is helpful for individuals who are prone to running their account close to a zero balance. You should also ask the card issuer of all credit cards if they will lower your interest rate as your credit score improves.

AVOID OVERSPENDING TO OBTAIN REWARDS
You may be interested in the cash back deals offered by card issuing companies. While these deals can put some extra money in your pocket they ultimately cause you to spend money in order to reach reward mile stones. This problem also presents itself with cards that offer frequent flyer miles and other reward programs. Make sure that you are reaching your monthly budget goals before concerning yourself with reward program points. Choosing the right card for yourself requires research. Understanding the benefits of the card you choose is essential to staying on track in terms of meeting your financial goals.

 

 

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Overview: CIMB Credit Card

May 7, 2014 Learning LifeWealth Management  No comments

If you reside in Malaysia and are looking for some type of reliable financial assistance and benefits, then this CIMB credit card might be exactly what you need in your life. This credit card provides its users with many exciting — and convenient — financial perks.

If you’re a foodie and enjoy eating out, you might appreciate the card’s numerous F&B (food and beverage) benefits. With this card, you can receive considerable savings off your restaurant tabs, no matter where in the country you live. This also applies to dining at hotels, so take note. If you wish to savor gourmet cuisine at some of the most elegant hotels in the region, then these dining discounts might go a long way for you.

 

CIMB Credit Card - Elevate your dining experience with discount up to 30%

CIMB Credit Card – Elevate your dining experience with discount up to 30%

 

 

Other exciting perks that are part of this credit card include hotel room accommodation savings, retail discounts and golf benefits. If you want to have a fun golf outing — 100 percent free — at a prominent golf course in Malaysia, Indonesia or Singapore, then this credit card might just be a “must-have” for you. If shopping is one of your favorite pastimes, then be sure to check out all of the credit card’s many affiliated retailers. Whether you wish to purchase luxurious cosmetics, stylish clothing, attractive accessories or high-quality shoes, the credit card’s various retail discounts can help you out.

 

Cimb Bank Credit Card Golf Privileges

Cimb Bank Credit Card Golf Privileges

 

Value added services are another important aspect of owning one of these credit cards. The card’s “Pay With Points” system makes redeeming bonus points simple and straightforward. If you register for the credit card’s handy bank balance transfer program, you can experience reduced interest rates — a major bonus. This program also allows you to easily take care of your balances. Importantly, it gives you the option of flexible and convenient repayment plans.

 

CIMB Bank Credit Cards Pay With Points

CIMB Bank Credit Cards Pay With Points

CashLite is yet another useful value added service for users of this credit card. If you sign up for CashLite, you can experience additional cash — and decreased repayments. You don’t have to worry about any annoying processing fees and cash advance charges, either. You can make repayments over a span of 1, 2 or even 3 years.

 

CIMB Bank Credit Card CashLite

CIMB Bank Credit Card CashLite

 

 

Credit Protector Plus, last but not least, is also a popular value added service. This service can ease your mind by helping you take care of outstanding card balances that arise due to disability, death or serious illness. Not only can this program help you relax, but it can also protect the well-being of your beloved family members.

 

CIMB Bank Credit Card - Credit Protector Plus

CIMB Bank Credit Card – Credit Protector Plus

 

 

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