Shopping Tips: When To Use A Debit Card Or Credit Card?
- By CompareHero.my
- September 21, 2018
Many of you have your own preference on which card to use, however, we want you to consider the advantages of both cards so that you can reap the full benefits the next time you shop. Here are some of the pointers we think you should keep in mind when deciding to use either a debit card or a credit card.
See also: UnionPay – The Leading Global Payment Network
When To Use A Debit Card
When you’ve automated your finances and are on a budget
A debit card is ideal to keep within your budget as the limit is the amount of money you have in your savings account. It tends to sting more if you see your money getting immediately deducted as well. You can immediately track all your savings with a debit card too!
You hate keeping heavy coins and notes
A wallet thick with cash and coins can be a rather inconvenient item to have in your pocket, if you want to slim it down, a debit card is an ideal way. You have access to your cash, but you don’t have to physically carry it around. Keep in mind that shops like the local kopitiam isn’t going to accept your debit.
Want to apply for a debit card? We recommend you check out Public Bank UnionPay Lifestyle Debit Card, first of its kind in Malaysia, and enjoy a flat interest rate of 0.50% p.a. calculated daily on outstanding balances above RM3,000 and credited monthly!
On top of that, you can get RM 10 monthly cash rebate if you maintain a minimum of RM10,000 Month-to-Date Average Balance and no over-the-counter transaction for the month.
When To Use A Credit Card
If you’re making large purchases or electronics purchases
Many credit cards offer 0% interest installment plan, up to a 36-month period, depending on the price and merchant. This is ideal for purchasing an expensive item as you can stretch your budget and reasonably afford the item.
If you’re shopping online
The risk of fraud when you are shopping online is still high these days, hence it is better to use a credit card to protect yourself. A credit card will allow you to track transactions and request to file a fraud-case if you ever encounter one. Payment gateways such as iPay88 or PayPal makes it safer to pay with cards as well.
Some e-commerce sites such as Lazada also offer bank credit card-exclusive promos and discounts which you can leverage on to get more savings.
When you want to improve or build your credit score
Using a credit card and paying it off responsibly will help you to build a healthy credit score. A credit score is very important as banks use it as a way to determine your eligibility for financial products such as a house or car loan. Using the credit card responsibly can help you out in the long term because of credit scoring.
To enjoy cashback or earn rewards points
Most credit cards these days give you cashback or rebates when you shop at participating merchants or during the weekends. Not only that, but you will also be able to earn rewards points that can be redeemed for cash vouchers or other items. Keep in mind that terms and conditions always apply.
Read This: A Guide To Cashback Credit Card, How To Utilise Your Rewards Credit Cards
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Touch ‘n Go RFID – All you need to know
- By CompareHero.my
- September 14, 2018
We got invited to the RFID media day at Touch ‘n Go’s Customer Experience Centre to find out what’s happening with the RFID project along with new updates. This is what you’ll need to know about the Touch ‘n Go RFID system, along with some questions asked from the floor.
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Save Money With These Low Interest Rate Credit Cards
- By CompareHero.my
- September 13, 2018
Updated September 13, 2018
The right credit card will not only provide you convenience, but it can also help you to save money. One of the ways to ensure you save money with a credit card is by using a low interest credit card. Here are the best low interest credit cards in Malaysia for you to choose from.
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10 Things Successful Investors Don’t Do
- By CompareHero.my
- September 5, 2018
Being a successful investor is not a challenge! It is a practice which comes with knowledge, discipline, and ideas.
1. THEY DO NOT do their due diligence via Internet forums
Successful investors are comfortable with the reality that their future can’t be predicted. They aren’t easily influenced by what they read online. Instead, they do their own research and make appointments to meet relevant people for information.
2. THEY DO NOT think of exit strategies at the later stage (after they’ve invested)
Successful investors are able to make money even when the markets are going down. Why? Because they know how to smartly manage their funds for the long-term since the future is always unpredictable. Thus, in short, they always have a backup plan for the worst-case scenarios.
3. THEY DO NOT fixate on price but understand the importance of value
Successful investors are always very patient with their investments. Most investors fall into the trap of making purchase and selling decisions based on minor fluctuations in the market. A patient investor would always wait to reap the long-term benefits and will seldom make any instant decisions. Thus, patience goes down as a golden rule in the rule book of investments.
4. THEY DO NOT neglect the importance of their financial credibility
Apart from the advice from financial planners, smart investors trust their intuitions. Most people are not able to follow their intuitions and end up listening to their dreams or aspirations. Again! It is very important to understand your intuitions and separate them from your dreams and ambitions. Successful investors are able to clearly demarcate their dreams, beliefs, and aspirations.
5. THEY DO NOT wait for the right time to buy
Successful property investors don’t try to time the markets. They know there isn’t a “right” time to do anything. They’re able to see the big picture and don’t get caught up in the details. And even when they don’t have all the information they need, they believe it’s better to make a decision with some information, than to not make a decision at all. They then take action and gather the balance of the information as they move on.
6. THEY DO NOT make decisions emotionally
Successful investors do not raise a brow when there is a rise or fall in the markets. They seldom let common perceptions influence their purchase decisions. Thus, they understand the golden rule that the rise and fall in the markets are natural but making purchasing or selling decisions based on them is absolutely mindless. Most investors fall prey to the game of emotions and end up losing and winning spontaneously which is a complete stalemate in the end.
7. THEY DO NOT speculate
Rather than following the trends, successful investors follow a time-proven strategy that they repeat again and again, recognising that you can’t become an expert by doing one hundred things at once. Instead, they do one thing a hundred times till they become proficient and can produce repeatable results – that’s how they know they’ve become an expert. It may make their investing boring, but the results make their lives exciting.
8. THEY DO NOT sit and wait for good deals. They create deals
Successful investors are very quick and pro-active learners. They learn from their mistakes and constantly keep themselves familiarised with the latest updates from the financial markets. They invest a lot of time on their money which goes in line with a very famous quote from Warren Buffet – “The rich invest in time; the poor invest in money”. Some successful investors are also avid readers of financial books and magazines.
9. THEY DO NOT ignore problems
Successful people confront problems as soon as possible. Just like most of us, they’re tempted to neglect things that are difficult to deal with, but tackle them anyway, because putting off a problem only turns it into a bigger one.
10. THE DO NOT “hunt” alone
Successful investors know that if they’re the smartest person on their team, then they’re in trouble. So, they surround themselves with other like-minded people, are prepared to pay good advisers, and have mentors who inspire and motivate them and keep them accountable.
This article is contributed in partnership with Property Hunter Malaysia, your trusted website for everything property and real estate in Malaysia.
Disclaimer: Neither CompareHero.my nor the content on it is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on CompareHero.my is for general information purposes only and is not intended to be personalised investment advice or a solicitation for the purchase or sale of securities.
Compargo Malaysia Sdn. Bhd. and/or its affiliates cannot and do not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. CompareHero.my may receive compensation from the brands or services mentioned on this website.
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Do you buy a House or Car first? [RESULTS]
- By CompareHero.my
That’s a question most Malaysians ask when they’re financially-able to consider these “big” items. We put out the survey a few weeks back asking our readers what they would buy first and thought we’d share the results. Before you click to read, which do you think it’ll be? House or car first?
