Have you paid your credit card bill fully?

Many people have a habit that every month only pay the minimum payment of their credit card bill. This causes the credit card bills accumulate to be more and more, and at last, they are not afford to pay the bills.

Most of us know that the credit card interest is 1.5% per month, and there is 20 day interest free period. It means that the interest is only calculated if you do not pay the bills within 20 days from the bill issuance date.

Anyway, from July onwards, there is no more 20 day interest free period for those who do not pay the credit card fully. If you just pay the minimum payment, once you swipe your card, the interest will be calculated immediately. And, the late charge is also increased to RM10 instead of RM5 previously.

So, please pay all your credit card bill on time to avoid the high interest being charged to your retails. Do not let the bill to grow, the compounding of interest can make the debt increase very fast. So, PAY OFF all your CREDIT CARD DEBT NOW!!!

Pump Petrol Using Credit Card

The petrol price has been increased by 40%, we as consumers really suffer from the high petrol price and high inflation rate. To fight with the high inflation, we always try to save more petrol when driving and get as much as rebate when pumping petrol.

Recently there are few banks offering credit cards that getting rebate when pump petrol, I found that Direct Access Mastercard is quite good, getting 2% rebate in any petrol station. Maximum rebate per month is RM50. Moreover, we still can use loyalty card to get loyalty points, example BonusLink in Shell, Smiles in Esso and Mobil, Mesra card in Petronas and so forth. I personally use Direct Access Mastercard together with Smiles card in Esso or Mobil, so that I can get 2% rebate from credit card and get 1 point for RM1 from Smiles card. 1000 Smiles points can redeem RM15 petrol, so in total, I can save 3.5%.

Looking at other credit cards, Citibank Shell Card only can get 1.5% rebate if you have no outstanding balance. Maybank and CIMB Petronas Card can get more treats points and 2% rebate respectively, but no loyalty points can be collected using these two cards.

Anyway, DO pump petrol using credit card ONLY if you are discipline enough to pay the bills on time every month to avoid from interest charges. Also, always consider to apply Free For Life credit cards.