![]() You also have the power to create one joint account where you can access both credit cards together. The Maybank 2 Gold Cards allow you to own 2 credit cards: Maybank 2 American Express and Maybank 2 Visa/Mastercard, while signing up for just one. It’s time to find out about the best credit cards in Malaysia. Now that you know the important points of choosing a credit card, it’s time to pick the one that’s perfect for you. When choosing the best credit card, consider companies offering no additional fee for making transactions, at the very least. Other penalties include ones for transactions, balance transfers, cash advances, and even asking to increase your credit limit. These are the corresponding fees for things like overdue payments and exceeding your credit card limit. Gas stations and online stores are also included, so you really have a lot of options.īut before picking the best credit card, choose one that’s applicable to the stores you usually spend time at, so you can actually benefit from the rewards programs offered to you. The points you earn can be turned into credit for either travel, shopping, cashback, and more. Companies call them rewards, and they can be earned and turned into points. These are the perks that come from paying your full balance at the end of each month. So when you try to choose the best credit card in Malaysia, look at your options and weigh in the benefits you’re getting from each company, including the presence of an annual fee. ![]() However, other companies provide rewards without charging an annual fee. ![]() In exchange for the annual fee, companies offer cashbacks or rewards. Some companies will ask you to pay a certain amount every year on top of your bill as well as the interest fee. To choose the best credit card, pick one that’s flexible and good enough to sustain you and that won’t tempt you to go overboard. Maxing out your credit limit not only affects your credit score, but you will also end up having to pay a corresponding penalty. One of the most important rules about owning a credit card is this - don’t go over your credit limit, or the amount you’re only allowed to spend for the month. When choosing the best credit card for you, make sure to check if the APR is a fixed rate (the interest doesn’t change throughout the year) or a variable rate (the interest changes accordingly). If you don’t, expect the interest rate to go up - usually about 15-20% higher. It does sound like a good deal at first, as long as you pay your balance on time. Interest RateĪ lot of companies will trick you into choosing them for their 0% introductory interest rate, also known as annual percentage rate or APR. ![]() Let’s go over those things right now, starting with - what else? - the interest rate. A credit card entails a big responsibility.įirst, you need to determine the factors that will come into play, like how much you can and are willing to spend, what rewards programs will really benefit you, and whether paying off a monthly or annual fee is better for you in the long run. Highlights Things to Consider When Choosing a Credit Cardīefore diving right into picking the best credit card, you first need to make a list of things you want to prioritise. ![]()
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