It takes only a few simple steps to apply for a credit card these days. All youneed to qualify is a valid form of identification, a bank account and a stable job that pays you enough to qualify for the credit card you’re applying for.
But just because you can get a credit card easily, it doesn’t mean that you should get one. Like everything else in life, a credit card requires a certain degree of responsibility. If you fail to have that, be prepared to pay dearly for your irresponsible ways.
1. The shopaholic
Just because you own a credit card, it doesn’t mean that you can go on a shopping spree wildly. Bear in mind that when you use a credit card, you are borrowing money and not receiving money. Thus, try as best as you can to control your spending as much as when you’re using cash.
2. Late Payments
Credit cards in Malaysia come with late payment charges of at least RM 10 or 1% of your outstanding amount. While this amount might not be as big, the small charges will add up over time. Train yourself to make prompt payments as this will prevent you from credit card debts which can be very expensive.
3. Carelessness
Treat your credit card exactly the same way you treat your identification card, driver's license, ATM card and passport. Losing your credit card means you would expose yourself to fraudsters where they will use your credit card to buy something you do not own and end up you will be the one paying for.
Read More : http://MyFinance.com.my/articles/detail/7211171405
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