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Here are some of the best ways to maximise your credit card benefits in Malaysia. This means that you enjoy the perks of your kad kredit and have an awesome credit score:
- Research In-depth before Choosing a Credit Card: With the advent of internet in our lives and so much information being available to us, it is more than expected of benefits of getting a comparative idea of credit cards available in the market. This can be done reliable comparative credit card information websites.
- Watch That Credit Score: Avoid purchasing everything through your credit card simply because you are gaining reward points against your purchases. If your bills are over the amount you can pay for the month, even with the reward points you would be losing money as the rewards will not make up for the interest amount you will have for late payment.
- Maintain A Usage A Pattern: If you are disciplined about your expenditure, you will not have problems paying credit card bills and reap the benefits of using your credit card worry-free every month. It is always a good idea to maintain a buffer amount reaching and not reaching your credit limit every month.
- Choose a Credit Card with Usage Advantages: Always choose a shopping card over an airline or fuel card if you don’t fly a lot or don’t require too much fuel.
- Redemption of Useless Products through your Reward Program is Useless: A lot of credit cards push products that don’t have much sale value are doing poorly through the market with the reward program. They are often older stocks of products that are given to the consumers in the name of rewards.
- Cash-back options on a credit card helps save more: Redemption of reward points for cash back or even for a statement may not seem much of a profit, but it makes more sense if bill payment is a priority which in most cases should be considering the alarming state of debt in Malaysia. Also there are some credit cards with return rates on that are often higher than the returns on cash on other general rewards cards.
- Look for Kad Kredit that offer more freebies than discounts on purchases: Even if you are getting buy one and get one, it is more profitable than a 30% discount. Also, freebies such as gift vouchers are more useful than discounts.
- Look for the Listed Places for Availing Discounts on Dining, Shopping, etc: It is often a marketing strategy for other businesses to offer discounts for places for purchases where you would never go otherwise. Hence, look for the credit card which offers a good list of stores and restaurants with discount offers and vouchers. Check the offer dates too. Preferably choose the ones with longer validity.
- Restrict your Number of Credit Cards to 2: More cards means having to pay more annual fees every month. Also, the bills for more credit cards should not overwhelm your finances every month.
Self-control and being alert about credit card offers overall is the key, when it comes to maximising credit card benefits.