I’m Only 21 Years Old. Do I Need A Credit Score?
- By CompareHero.my
- February 5, 2021
Most of us are unaware of how important it is to start building our credit scores early in life. We only realise this 3-digit number plays a vital role in getting our bank loans and credit card applications approved later on. Read on to find out why you should start establishing your credit score at a young age.
Isn’t it awesome to be 21? You might be at the final stages of your university education, or you could be starting a career. Even in the pandemic era, the world is filled with endless possibilities. There are still university degrees to be earned, career ladders to be climbed, startup ideas you’ll want to realise, and many, many more things that you wish to accomplish. Bursting with energy and eager to adapt to the new normal, you can’t wait to begin this new chapter in your life: adulthood.
Adulthood comes with a new set of financial responsibilities, as you might be purchasing your first car, health insurance and other necessities soon. There will be a time when you have to navigate through your first bank loan application (most likely, to pay for your further studies or buy a car) and credit card application (perhaps, as a financial backup during emergencies).
During these applications, you may be wondering about how banks decide if you’re qualified for a loan/credit card. Since these financial institutions don’t know you well enough to gauge your financial health, they refer to something called “credit scores” to gain a better understanding of the potential risks that come from lending money to you.
“Hold on. I’m only 21. I’ve never borrowed money in the past. Why should there be any risks?”
That’s a question that may have crossed your mind. True, you might have never borrowed money previously, so you’ll have no credit history (a record of your ability to pay off credit card bills, loans and other debts). These records will appear in the credit reports generated by credit reporting agencies. Based on your credit reports, the agencies will then calculate your credit score.
As you have no credit history, and thus no credit score, banks may perceive you as an inexperienced credit consumer with no proven record of repaying money. So it might be harder to qualify for loans, and if you do, there’s a chance that you could end up servicing a higher interest rate.
That’s because when banks review your credit report and credit score, they’re interested in how reliably you pay off your debts in full and on time. (Your past payment performance is usually considered a good predictor of your future payment behaviour.)
You’ll be hearing more about credit scores throughout your life, especially when it’s time to get financing for that sleek coupe you’ve always wanted to own and drive, a gorgeous home for your new family, and even to build your dream company.
In a sense, having a good credit score is like the key that opens doors to some of the best financial deals in life – including favourable interest rates, premium credit cards, and a higher chance of getting your loan approved.
If you have no credit history, and thus no credit score, banks may perceive you as an inexperienced credit consumer with no proven record of repaying money.
“Okay, so how are credit scores calculated?”
Your credit score will fall within the range of 300 and 850. Credit reporting agencies have different formulas to calculate your score, but the evaluation is generally based on these factors:
- Payment history (a record of the payments you have made for credit card bills, bank loans and other debts)
- The amount of debt you have in comparison to your credit limit
- The length of your credit history (how long you’ve used credit)
- The types of accounts you have (e.g. home loan, car loan and credit cards)
- Recent credit activity (if you have recently been approved for loans/credit cards)
As you can see, payment history and credit history take up a significant portion of your credit score. For instance, according to credit reporting agency CTOS’ calculations, payment history makes up 45% of your credit score, while 7% is based on the length of your credit history. So the sooner you start building a credit history filled with prompt repayments of your bills and loans, the better your credit score will be.
Related: Ultimate Guide To Credit Scores
“How do I start building a credit history (and credit score)?”
Building credit history will require some time and patience, but it isn’t difficult. The first thing to remember is that you shouldn’t apply for a bank loan or credit card just for the sake of improving your credit history. Servicing a loan or credit card requires financial commitment, so you should only apply for these when you’re really in need of funding. It’s also important to make sure that you have the resources to service the repayments.
Besides, if you don’t have a credit score, you won’t be able to qualify for bank loans and premium credit cards that involve huge amounts of money and long periods of repayment – such as home loans and platinum cards (well, not yet, anyway).
So what you can do now is to focus on any existing loans you currently have…
1. Start paying off your student loans
If you have taken out a student loan (such as PTPTN) to pay for university, servicing your monthly payments is a good way to start building your credit history, and subsequently your credit score.
Once you’ve started a new job, do allocate a percentage of your salary to pay off your student loans promptly every month. Most of these loans have low interest rates, so you can establish a track record of timely repayments without much financial pressure.
The government has also made life easier for students and graduates who have taken PTPTN loans, as Prime Minister Tan Sri Muhyiddin Yassin recently announced that PTPTN borrowers can apply for a three-month loan repayment moratorium. (Borrowers will have until March 31, 2021 to submit their applications.)
According to Bank Negara Malaysia (BNM), the moratorium will not affect borrowers’ Central Credit Reference Information System (CCRIS) reports. (The CCRIS is a platform that compiles credit-related information on all borrowers of participating financial institutions in Malaysia.)
In addition, credit reporting agency CTOS has also explained that payments deferred under the moratorium will not affect your credit score or your ability to apply for loans in the future. The agency has assured the public that these deferred payments will not be reflected as defaulted payments in their credit reports, and subsequently their credit scores.
So if you have deferred payments for your student loan temporarily because of COVID-19-related issues, you can use the breathing space to look for a stable job and prepare to establish a good credit score later on.
If you have taken out a student loan, servicing your monthly payments is a good way to start building your credit history, and subsequently your credit score.
Related: Bantuan Prihatin Nasional 2.0: Here’s What You Need To Know
2. Get a zero annual fee credit card. Pay your bills on time.
Getting a credit card with no annual fee is one of the easier ways to improve your credit score. As there won’t be any annual fee charges, you can minimise your credit card bill by using it only for petrol expenses and emergencies. Be sure to pay your monthly bills in full and on time, as this will be reflected in your credit score.
To avoid accumulating credit card debt and interests, you should always spend within your means and use your credit card responsibly. If you can handle your credit card repayment at an early age, you’ll be able to develop the financial discipline to manage even bigger repayments later on in life – such as bank loans for your car, home and business.
Related: 6 Best Credit Cards For Malaysian Gen Zs
“How do I avoid getting a low credit score?”
If you have a bad credit score (between 300 and 650), there’s a higher chance that you might be rejected for a new credit card or mortgage. You may also have to pay higher interest rates.
So here are some valuable tips on what you shouldn’t do when you’re building up your credit score. Let’s get you started on the right note!
1. Avoid getting into debt
As mentioned previously, it’s important to pay your credit card bills and loans in full and on time. Banks have the right to increase your interest rates and charge late payment fees if you have been missing your repayments.
Besides facing the burden of paying off a large sum of debt, your credit score will also be severely affected. According to CTOS, 30% of your credit score is based on the amount of money you owe. Thus, having huge debts will definitely lower your score.
Related: 4 Ways A Bad Credit Score Can Impact Your Life (And How You Can Fix That)
Missing payments will not only affect your credit score – you’ll have to pay penalties and late fees too.
2. Make sure the agencies have your correct personal info
Once you have attained your first credit card or loan, you should apply to check your credit score and report within the first six months to make sure all of your personal details are correct. Yes, something as simple as an outdated or incorrect residential address can lower your credit rating and prevent you from taking out a loan!
If you spot any incorrect information in your file, updating your personal details is a quick, hassle-free process, as agencies such as CTOS also provide a step-by-step guide on how to correct your report inaccuracies. So be sure to contact your credit reporting agency for assistance.
Related: 6 Ways To Improve Your Credit Score
We hope you’ll find this guide useful when you start establishing your credit score. If you have any questions regarding this topic, give us a buzz on Facebook, Instagram or Twitter.
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#CNY2021 – How Much Does It Cost To Celebrate Chinese New Year During The MCO?
- By CompareHero.my
- February 3, 2021
Celebrating Chinese New Year (CNY) during the COVID-19 pandemic and MCO will be a new experience for many Malaysians. Here’s how you can enjoy the festive season safely in the new normal without overspending.
This Chinese New Year will be different from past celebrations, as the COVID-19 pandemic casts a shadow over the festivities. Even though we might be staying indoors, we can still usher in the Year of the Ox with family and friends – thanks to the wonders of technology. Some of us will not be going back to our hometowns this festive season, but our loved ones are just a video call away.
So enjoying Chinese New Year in the new norm will take some getting used to. However, there are budget-friendly ways to enliven your celebrations. Check ‘em out!
1. Order a reunion dinner set online (delivery/self pick-up)
It’s so convenient to order Chinese New year lunch/dinner sets online. To minimise social contact in the new normal, you can either have the meals delivered to your home or you can pick them up yourself.
Many restaurants are currently offering a variety of festive lunch/dinner bundles at different price ranges, so you’ll be spoilt for choice when it comes to selecting delectable feasts for your reunion dinner, CNY day one, day two and so on.
Besides minimising the risk of COVID-19 infection by celebrating the festive season at home, you’ll also be avoiding the pre-pandemic hassle of finding parking space in a crowded mall, as well as paying for parking tickets and petrol.
Of course, if your family members are staying outstation, you’ll be sure to miss them. So do give them a video call. Show them the festive meals that you’ll be having. Better yet, you can also order a similar meal bundle for them! Nothing says “I love you, Mom, Dad, Grandpa, Grandma, Sis and Bro” like a thoughtful CNY meal that you handpicked specially for your loved ones.
Your estimated expenses:
| CNY Lunch/Dinner Sets | Prices |
| Heaven Eat’s CNY Bundle (signature chicken breasts, chicken chop, rainbow dumplings and meatballs) | RM188.80 (up to 10 ppl) |
| Good Luck Gift Pack by Gather Gather Kitchen (herbal roast duck, golden combination platter, osmanthus fried rice and fried kam heong lala) | RM238 (5 ppl) |
| Fullest Symphony Poon Choy by Village Grocer (abalone, ming har prawns, smoked duck breasts, braised chicken, mushrooms, stewed dao bou and fried yam) | RM388 (8 ppl) |
Related: Where To Shop For CNY Goodies On A Budget
2. Get affordable CNY face masks
As the pandemic continues, manufacturers have come up with different designs and colours for face masks.
In the new norm, your face mask can become a fashion accessory as well. As the pandemic continues, manufacturers have come up with different designs and colours for face masks. Now, as we usher in the Year of the Ox, there are also CNY and ox-inspired facial masks in the market.
A quick search on online shopping platforms like Lazada and Shopee will reveal dozens of festive masks for the Lunar New Year. Their designs range from quirky and cute to classy and elegant.
These masks are apparently popular, with some distributors having sold more than 1,000 packs online. Pricewise, a 50-piece pack of these disposable three-ply (three-layer) festive masks costs between RM10 and RM30 on Shopee. They are cheaper than the regular Medex Face Masks (RM35 for a 50-piece pack) that are sold at pharmacies like Guardian.
However, you should also check with online mask retailers to make sure that the masks you’ll be receiving are quality products. In addition to looking trendy this festive season, you should also stay protected during the pandemic.
Your estimated expenses:
| CNY face masks | Prices |
| Medical grade Chinese New Year masks (Skin Hygiene) | RM9.88 (50 pcs) |
| CNY disposable 3ply masks (Pissardo Gallery) | RM11.88 – RM12.88 (50 pcs) |
| Limited edition God of Prosperity CNY face masks (Iconic Medicare) | RM35 (50 pcs) |
Get the best out of your online shopping experience with Maybank Shopee Credit Card!
3. Spruce up your home with festive DIY decor
With festive home decorations, you can create a CNY-inspired look and feel for your virtual gatherings.
Despite staying indoors, you can still create a festive look and feel for your home. Decorate your place with acrylic wallpaper, spring blossoms, ornaments and other festive elements that strike your fancy.
You can purchase these decorations via online shopping platforms. Log on to sites such as Shopee or Lazada and you’ll find a plethora of CNY decorations that cater to every taste. You could also order in bulk to enjoy free shipping.
Once again, as you’re not travelling or shopping at many brick-and-mortar stores during this festive season, you’ll be able to save on petrol and parking. However, not visiting your loved ones in person can be a bummer as well. You can make up for the social distancing by organising memorable, festive video calls with your family and friends. Be sure to share your surroundings and backdrop with your loved ones. Let them bask in the joyful CNY ambience as well!
Your estimated expenses:
| CNY decorations | Prices |
| Lucky Ox Ornaments (Lilyz0827 on Shopee) | RM1.73 – RM3.90 per piece |
| Premium Sakura Decor (The Craft Decor) | RM18.90 |
| CNY 3D Acrylic Wallpaper (One Apple) | RM22.80 |
Related: Ultimate Guide To E-Wallet In Malaysia 2021 – Which Should You Get?
4. Share CNY cookies
Many bakeries are offering home deliveries, so you can order your favourite pineapple tarts and kuih kapit.
In the new normal, there’s one Chinese New Year tradition that hasn’t changed. Festive cookies are still easily available! If you’re looking for the best bakeries, just search online or ask around. (We’re sure your family and friends have their own recommendations.)
Many bakeries are also offering home deliveries, so you can order your favourite pineapple tarts and kuih kapit. Having cookies delivered to your doorstep means you’ll never have to brave through traffic congestions and crowds to buy these goodies ever again. The time saved from going out is priceless.
As these bakeries also offer free delivery for purchases above RM100/RM150, you can also show your loved ones that you’re thinking of them this festive season by ordering some scrumptious cookies for them. Remember to save some of these mouthwatering delights for yourself.
Your estimated expenses:
| CNY cookies | Prices |
| Ngaku Chips (Golden Ox Cookies) | RM18.80 |
| Pineapple tarts (Delectable By Su) | RM20 |
| Crispy Crab Sticks (Swee Hong Biscuit) | RM24 |
5. With e-ang pows, you can save time and reduce paper usage
Near or far, no matter where your loved ones are, you can still send them ang pows (or receive red packets from them). However, instead of giving out physical ang pows this time around, the funds will be transferred via online banking.
To make money transfers more convenient, you can also use DuitNow, an inter-bank money transfer service that enables you to transfer to your recipient’s DuitNow ID. This service is available on many online banking sites and mobile banking apps.
Setting up your DuitNow ID is simple:
- Log on to your bank’s online banking website or mobile app.
- Look for DuitNow under the ‘Funds Transfer’ or ‘Send Money’ menu.
- Perform a one-time registration by linking your IDs (e.g. mobile no., IC) with your bank account.
- Your family and friends can also set up their own DuitNow ID. So if you wish to send them money, just enter their DuitNow ID and confirm the transfer details.
Not holding physical red packets this CNY might be jarring at first, but you’ll soon feel the relief of not being weighed down by a bulging pocket or heavy handbag. It’s so convenient that we’re now living in a “cashless” society and you no longer have to keep track of your physical banknotes.
As you’ll be spending less time sorting our physical ang pows, you can use the hours saved to enjoy more quality time with your loved ones. This form of digital ang pow also reduces paper usage, thus benefiting our forests and the environment.
Estimated ang pow rates: How much should you give your family and friends if you’re married?
| Relationship | Prices |
| Your parents and in-laws | RM100 and above |
| Siblings | RM50 and above |
| Own children | RM50 and above |
| Cousins, nieces, nephews | RM10 – RM30 |
| Children of friends | RM5 – RM10 |
Note: Please do not go over budget when you’re preparing ang pows. Remember to give within your means. After all, it’s the thought that counts.
Related: Chinese New Year Ang Pow – What does it mean?
6. Clear your debts before CNY
In addition to spending within your means this festive season, many Chinese also believe in starting the Chinese New Year on an auspicious note. Thus, most of us will strive to do right by ourselves before CNY by breaking a bad habit, or by clearing a debt.
The burden of unpaid debt can be stressful, especially last year, when many people endured pay cuts and job uncertainties – leaving them unable to fulfil their financial commitments. So if you have been struggling to pay off your credit card debt, home loan, car loan or student loan, there’s an effective way to get out of debt. It’s called a debt consolidation loan.
Established with the sole purpose to help borrowers get out of debt, a debt consolidation loan enables you to combine all your debts into one loan at a single interest rate.
For example, you have three credit cards with an interest rate of 15%, and each card has an outstanding of RM5,000. To add to that, you’re also servicing a personal loan worth RM50,000 at an interest rate of 7%.
With a debt consolidation loan, you can simplify all these by combining your debts into one. Besides being much easier to manage, you’ll also be able to save money in the long run if prior your debts have higher interest rates.
Interested in finding out more? You can compare Malaysia’s best debt consolidation loans in 2021 and calculate which one would suit your repayment ability here.
Related: 7 Strategies To Get Out Of Debt Fast During The COVID-19 Pandemic
So thanks to technological advancements, we have found new methods to keep the CNY spirit alive. May this festive season bring you happiness and prosperity. Have a wonderful time with your loved ones.
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Apakah Perbezaan Antara Hutang Baik Dan Hutang Lapuk?
- By CompareHero.my
- February 2, 2021
Sebelum ambil sebarang pinjaman, anda perlu tahu sama ada ianya merupakan hutang yang baik atau lapuk kepada anda. Tidak tahu untuk membezakan kedua-dua hutang tersebut? Cari tahu bagaimana hutang boleh menjadi hutang yang baik dan lapuk serta belajar bagaimana untuk menguruskan hutang secara bijak.
Apa itu hutang baik?
Kajian menunjukkan bahawa 68% rakyat Malaysia masih berhutang dengan kebanyakkan hutang itu mencatatkan perbelanjaan sara hidup yang tinggi, bayaran sewa dan pendidikan anak-anak. Dengan lonjakan peningkatan hutang isi rumah rakyat Malaysia, Bank Negara Malaysia kini memperkenalkan sistem yang lebih ketat untuk mengawal situasi ini.
Menurut Agensi Kaunseling dan Pengurusan Kredit (AKPK), kebanyakkan rakyat Malaysia yang mencari bantuan kewangan daripada mereka biasanya mengemukakan hutang kad kredit yang banyak.
Secara definisinya, hutang bermaksud anda meminjam wang daripada individu lain atau sebuah institusi kewangan untuk satu tempoh masa di mana anda akan membayar semula jumlah pinjaman berserta faedah. Kebanyakkan daripada kita, berhutang melalui pinjaman adalah keperluan disebabkan oleh kita sering tidak cukup duit tunai untuk membeli barangan asas.
Apa yang menjadikan hutang itu baik atau lapuk apabila hutang tersebut memberi kesan yang akan menganggu hayat kewangan anda sama ada kesannya positif atau negatif.
Hutang baik dapat membantu meningkatkan status kewangan anda melebihi satu tempoh yang panjang atau pendek. Disebalik pinjaman yang diambil ia seharusnya lebih jelas dan mempunyai sebab terperinci.
Sebagai contoh, mengambil pinjaman untuk mengembangkan perniagaan anda secara tidak langsung ia dalam kategori hutang baik yang mana membantu meningkatkan untung bersih anda. Hutang baik boleh juga dikategorikan sebagai di bawah:
- Meningkatkan dan menambahkan untung bersih anda.
- Membantu menambahkan wang anda
- Berkemampuan membuat bayaran pinjaman
- Faedah yang rendah
Contoh hutang baik
1. Pinjaman pendidikan
Kaji selidik menunjukkan bahawa Malaysia berada pada kedudukan ke lima negara termahal dalam pendidikan tertinggi. Ia jelas menujukkan mengapa rakyat Malaysia berhutang untuk pendidikan anak-anak mereka. Sememangnya, pendidikan tinggi menjadi perkara yang mendorong ibu bapa atau pelajar untuk mengambil pinjaman kewangan untuk pendidikan mereka.
David Bok, merupakan seorang bekas president Harvard berkata, “Jika anda fikir pendidikan adalah mahal, cuba abaikannya.” Dengan memiliki kelayakan yang tinggi, ia dapat membantu mendapatkan kerja yang lebih baik dan meningkatkan peluang memperoleh pendapatan yang lumayan. Pinjaman pendidikan adalah satu pelaburan yang merupakan jenis hutang baik.
2. Pinjaman pelaburan
Ambil pinjaman yang anda boleh letakkan di dalam pelaburan kenderaan seperti deposit tetap dan Amanah Saham Bumiputera(ASB), ia boleh jadi pelaburan yang bagus dengan tersedia segala perkara yang anda perlu lakukan. Prinsip utama adalah untuk memastikan apa yang anda dapat daripada pelaburan adalah lebih daripada faedah atau perbelanjaan yang terlibat kepada anda sepanjang pinjaman.
Apa itu hutang lapuk?
Hutang lapuk dikategori sebagai jenis hutang yang tiada tambah nilai kewangan dalam kehidupan anda. Selain daripada itu, hutang lapuk juga boleh melibatkan kos wang yang lebih untuk masa panjang. Kriteria lain hutang lapuk termasuklah:
- Beli barang yang susut nilai dari semasa ke semasa seperti kereta.
- Hutang kad kredit yang tidak berbayar
- Pinjaman faedah yang tinggi.
Hutang kad kredit
Kad kredit boleh jadi alat kewangan yang hebat jika ia digunakan dengan betul. Walaubagaimanapun, ia boleh bertukar kepada hutang lapuk apabila disalahgunakan dengan membuat jumlah pembelian yang besar jumlahnya tetapi hanya membuat pembayaran minimum setiap bulan atau lebih teruk membayarnya selepas dari tarikh yang telah dijangkakan. Ini akan mengakibatkan caj dan faedah yang tinggi tanpa menyatakan risiko buruk dalam rekod kredit anda.
Tips mengurus hutang secara bijak
1. Hubungi pemberi pinjaman anda atau bank
Jika anda berhadapan kesukaran untuk menyelesaikan bayaran semula pinjaman yang telah ditetapkan, cuba hubungi pemberi pinjaman dan bank anda dengan segera. Peluang yang dibuka oleh pihak bank untuk berunding adalah kerana mereka juga mahu mengecilkan peluang pinjaman yang tidak berbayar sebelum ianya menjadi lebih rumit. Cuba untuk bekerjasama dengan pihak bank anda.
Baca juga: Bagaimana Untuk Menghadapi Pengutip Hutang?
2. Jumpa Agensi Kaunseling dan Pengurusan Kredit (AKPK)
Cara lain, anda juga boleh berjumpa Agensi Kaunseling Dan Pengurusan Kredit (AKPK) yang ditubuhkan oleh Bank Negara Malaysia. Perkhidmatan mereka adalah percuma dan mereka akan menawarkan kaunseling juga nasihat kewangan ke atas pengurusan kewangan dan membantu individu dengan masalah hutang mereka melalui program pengurusan hutang.
3. Buat perbandingan
Sebelum ambil pinjaman, bandingkan dahulu pinjaman daripada bank yang mana membantu untuk mendapatkan kadar faedah terbaik. Anda boleh meninggalkan kecelaruan dengan menggunakan cara seperti cara percuma perbandingan pinjaman peribadi daripada CompareHero.my.
Baca juga: Apa Anda Perlu Tahu Tentang Status Muflis
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Healthy Meal Delivery In Malaysia: Which Is The Most Affordable And Convenient?
- By CompareHero.my
- January 29, 2021
For busy Malaysians, ready-to-eat meals have become a valuable addition to their lives. Long-lasting, preservative-free, nutritious and microwavable, you can prepare these dishes in minutes! Here, we take a look at some of the most affordable, ready-to-eat healthy meal delivery services available.
Contents
Planning to reduce your waistline and expenses in 2021? Great! However, we understand how easy it is for our New Year’s goals to get derailed.
In today’s pandemic-induced work-from-home climate, we have all used these excuses at some point:
“I don’t have time to prepare wholesome meals every day. I have work to do.”
“The food delivery service is slow! My lunchtime is almost over.”
“I don’t have time to go grocery shopping this week.”
“Let’s just have instant noodles today.”
Well, those days of making up excuses while your belly expands and your wallet shrinks are over. Now, there are healthy meal providers that will deliver affordable, ready-to-eat food to your doorstep.
Long-lasting, easy-to-cook, nutritious and delicious
From Cajun-style chicken chop and Moroccan beef salads seasoned with coriander to Barramundi fish in a spicy Thai lime sauce, you’ll be spoilt for choice when it comes to gratifying your taste buds. We had the time of our lives savouring some of these dishes, and the culinary experience left us wanting more. (Who says healthy eating has to be boring?)
The meal providers will also display nutritional information (such as the amount of calories, carbohydrates, protein and fat) alongside each dish, so you can plan your meals for a balanced diet.
Additionally, as these vacuum-sealed, reheatable meal packs can stay fresh in your freezer for up to three months, you can even order enough food to last the entire week, or more! Then, when it’s time for makan, all you have to do is microwave, boil or steam the dish for a time period between two and ten minutes.
What are ready-to-eat meals?
According to various ready-to-eat meal delivery services, their chefs will prepare the dishes without using preservatives, artificial flavouring or artificial colouring.
Once they are cooked, these meals are immediately vacuum sealed in customised packages and chilled to retain their flavour and nutritional value. The vacuum sealing process will deprive your food of oxygen, thus, preventing the growth of mold and bacteria as well as extending the meal’s shelf life.
How to order them?
It’s easy to order your food packs from ready-to-eat meal delivery services such as DIETMONSTA, Heaven Eat, Meals in Minutes, and Crops. You can shop at their websites via your mobile phone or PC.
- First, you will have to sign up for a free account. Enter your name, contact number and delivery address.
- Log in to your account.
- Select the meal pack/package that you want. Add them to your shopping cart.
- Once you have finished placing your order, select check out.
- You can choose to pick up the order on your own or have it delivered to your home.
- If you wish to have the meal packs delivered to your home, you can select a delivery time that is convenient for you.
- Choose your payment method. You can pay via online bank transfer, credit card or e-wallets like GrabPay.
- That’s it! Your healthy meal packs are on their way to you.
Some of these meals are also available on food delivery apps like GrabFood and foodpanda, so be sure to keep a lookout for them.
Just reheat your meal pack for a few minutes and voila, your dish is ready! (Source: DIETMONSTA)
How to reheat them?
Preparing your food is so easy when you have ready-to-eat meals stored in the freezer. Whether you are cooking for yourself or the whole family, just follow these steps to ensure a hassle-free experience in the kitchen:
- First, you will have to defrost the food by submerging the meal pack in water until it has thawed. Instead of submerging the meal pack, you can also place it in the fridge one day earlier.
- Before reheating the vacuum-sealed meal pack, you should cut a small opening in the pack by using a pair of scissors.
- Cook the meal pack in the microwave for about two to four minutes. (Don’t worry, the pack is microwavable.)
- If a microwave isn’t available, you can submerge the meal pack in a container of hot water for five to ten minutes.
- Next, remove the food from the pack and serve it on a plate or bowl. Enjoy your meal!
Ready-to-eat meal delivery service comparison in Malaysia
While searching online for ready-to-eat meal packs, these four delivery services caught our eye with their delectable menus, nutritious dishes, attractive meal packages and competitive prices.
Despite their diverse menus, these services share certain common features, including their prompt delivery time. For areas around the Klang Valley, their respective customer service team has assured us that the delivery time is between 24 and 48 hours after we have placed our order. In fact, some of the meals we have ordered arrived at our homes in KL within hours!
Besides that, in terms of portion size, each of the meal packs on offer here provides enough nutrients for a single adult meal. As for those meat-based protein packs, you also can add vegetables and healthy side dishes to your meal.
Their delivery fees also vary according to the distance of the customer’s location. For instance, when we ordered meal packs from the Petaling Jaya area, the delivery fee was about RM14.
| Ready-to-eat meal delivery service | Price range for vacuum-sealed meal packs | Delivery area and charges | Why it’s worth it |
| DIETMONSTA | Single meat-based protein pack: From RM12.00 Single dishes (with chicken/beef/fish, vegetables and rice/hummus/pasta): From RM15.00 10 meat-based protein pack: From RM100.00 Five-day ‘weight loss” meal package (with two daily servings of chicken/beef/fish and vegetables): From RM152.00 Five-day ‘muscle gain” meal package (with two daily servings of chicken/beef/fish and carbs): From RM143.00 |
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| Heaven Eat | Eight packs of vacuum-packed chicken breasts (available in classic, spicy mala and pesto variants): RM88.90 Five Mala Chicken Chop meals: RM79.50 Five Heaven Chicken Chop meals: RM79.50 Lean sausages: From RM38.00 High-protein chicken meatballs: From RM30.00 Four packs of rendang chicken breasts: RM50.00 Trial bundle (a combination of chicken breasts, meatballs and sausage): RM146.90 (Heaven Eat also offers other types of dishes and drinks besides vacuum-sealed meal packs.) |
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| Meals in Minutes | Healthy carb-based food (such as brown rice, cauliflower rice and quinoa): From RM4.00 Protein-based dishes (such as. butter parsley prawns, rosemary & thyme chicken and Joe’s Burger): From RM13.00 Healthy side dishes (such as charred cherry tomatoes, edamame beans and spinach): From RM3.90 |
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| Crops | “Toning & lean” package (10 low-calorie meals): RM149.00 “Fit & strong” package (10 high-protein meals): RM199.00 “Fusion lean” package (10 low-calorie meals according to a fixed menu): RM149.00 A la carte meals (such as tomyam chicken + vegetables + pasta and lime pepper dory + vegetables + pasta): From RM15.90 (Crops also offers Keto meals that can be delivered to customers daily or on alternate days.) |
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1. DIETMONSTA: Ideal for fitness buffs
DIETMONSTA’s chicken, beef and fish packs provide a convenient source of protein, especially when you’re looking to rebuild muscle tissue after a workout. (Source: DIETMONSTA)
If you are on a high-protein, low-fat eating regime, DIETMONSTA’s meat-based protein packs will suit your needs. Its chicken breasts, beef, tilapia, salmon and seabass packs provide an affordable, convenient source of protein, especially when you are looking to repair and rebuild muscle tissue after a workout.
By the way, the other dishes on DIETMONSTA’s menu are also quite delicious. Our favourites include the Asam Pedas Salmon Al-Raisin Cauli Rice and Black Pepper Seabass Vege with Hummus.
2. Heaven Eat: Chicken fiesta extravaganza
We were pleasantly surprised with the variety of yummy poultry-inspired dishes on Heaven Eat’s menu. (Source: Heaven Eat)
Wow, who would have known there are so many ways to prepare chicken-based dishes? We were pleasantly surprised with the variety of delectable poultry-inspired dishes on Heaven Eat’s menu. It’s highly recommended that you try the guilt-free chicken meatballs and sausages!
3. Meals in Minutes: When you wish to mix and match your food
Meals in Minutes offer a wide range of different meal packs, where you can mix and match your favourite dishes daily. (Source: Meals in Minutes)
You can have butter parsley prawns with brown rice and french beans for lunch on Monday, and then, Portugese fish with quinoa and charred cherry tomatoes the next day.
These dishes are available separately at Meals in Minutes. All you have to do is order the meal packs in advance and store them in your freezer. When it’s time to prepare your meal, just look into your freezer and select your heart’s desire!
You should also check out Joe’s Burger, which consists of a savoury yellowfin tuna patty, cheese, mushrooms, onions and garlic. If you occasionally partake in food indulgences just like Dwayne ‘The Rock’ Johnson, this burger is a must-try.
4. Crops: Low-calorie Asian fusion delights
On days where we feel like adding some Asian zest to our ready-to-eat meals, Crops’ low-calorie dishes will satisfy our appetites. (Source: Crops)
We like how Crops has spiced up its menu with tasty dishes like the Tikka Masala Chicken and Tomyam Chicken. On days where we feel like adding some Asian zest to our ready-to-eat meals, these dishes will satisfy our appetites. Each meal contains around 390 to 530 calories, so they are ideal for people who are following a healthy eating regime.
And the winning prize goes to…
The consumers! At the end of the day, people like you and I – who are always on the lookout for budget-friendly, convenient and healthy meals – will stand to benefit most from the growing number of ready-to-eat meal delivery services in Malaysia.
As each of the healthy meal providers featured above has its own advantages, we recommend that you try all of them. With the variety of dishes available, your taste buds are in for a real treat.
What about the rest of the competition?
Unfortunately, our tummies were already full before we managed to check out every ready-to-eat meal delivery service out there. So if you know of any other awesome, affordable delivery services that provide similar food packs, feel free to share them with us on Facebook, Instagram or Twitter. Keep in touch!
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Ask The Expert: Avoid These 6 Mistakes If You Want A Great Credit Score
- By CompareHero.my
- January 26, 2021
It is important to keep your credit score in good shape so you can apply for loans, credit cards and get lower interest rates. Read this article to find out six bad financial decisions that can hurt your credit score.
A good credit score is a great privilege. It increases your chances of securing a loan or credit, offers improved rates on financial products, leads to wider financing options, more flexible payment periods, and may even affect your auto and homeowner premium. In other words, a good score saves you thousands of Ringgit in interest.
From a macro perspective, when citizens of a country possess better scores, it indirectly improves the state of financial inclusivity and social mobility in that country.
These benefits are given, because quite frankly, banks and lenders will prefer dealing with individuals who have good credit scores.
Since banks do not know individuals personally, they will refer to your credit score in your credit report, as it represents a financial snapshot of a person.
If you needed a quick refresher, a credit score is a three-digit number, typically between 300 and 850 that represents your creditworthiness and indicates how likely you are to repay debt.
If you want a great score, but are not sure how, we list down some of the common pitfalls people get into that stops them from getting great credit scores.
CompareHero.my spoke to AKPK financial education trainer and Deputy President of Malaysian Financial Planning Councils Dr Desmond Chong Kok Fei for this piece.
1. Overestimating your payment capability by taking on unnecessary credit
Pro tip: understand yourself and your finances, first, before committing to any loans.
“Having a ‘I think I can pay la.’ mindset is super dangerous. You can be very vulnerable and can easily fall into default,” Chong said. “The key is to not overestimate your payment capability.”
Unlike many endeavours in life that allow you the flexibility to jump in head first – one must not apply the same thought process or practice to their financial situation because one wrong move could result in severe financial backlash.
For example, don’t take out a personal loan to fund an unnecessary vacation or rack up student loans to fund your education without first laying down the pros and cons.
It is actions like these that could seriously strain your budget, making it harder for you to keep up with your monthly payments. Don’t dig your own financial grave!
Increasing your debt and the amount you owe could have a negative impact on your credit score—more so if the debt are on credit cards.
Remember: only apply for a loan or credit when you need it — if you must apply for a credit card, be mindful of your payments.
2. Only checking your credit score once in a blue moon
If you have some free time in a day, it doesn’t hurt to give your credit score a little check.
You won’t know if your score is bad or good if you don’t regularly check on it, right?
Keeping track of your score is one way to know how far you have progressed and it helps you spot any issues in your score before they grow even further.
Though there is no benchmark or rule of thumb, we generally recommend checking your scores every six months. A lot can happen in the span of six months – you could have gotten several new credit cards or bought or a new home, so it would help to know where you stand on the credit score scale.
In Malaysia, different credit agencies will have different formulas to evaluate every individual’s credit score. You should not assume that your credit score will be the same across these credit agencies.
In general, here are the factors considered in credit scoring calculations.
- Payment History (45%) – whether you pay your loans on time or have missed payments in the past
- Amount Owed (20%) – the number of credit facilities and the amount owed to the banks
- Credit History Length (7%) – the amount of time you held a credit facility (credit card, or a loan)
- Credit Mix (14%) – the types of loans and credit cards you hold – secured (home, car loans) vs unsecured credit (credit cards, personal loans)
- New Credit (14%) – any approved new credit facilities in recent times
Related: Ultimate Guide To Credit Scores
3. Not paying bills (and tax) when it is due
One of the best ways to maintain a good credit score is to pay your bills on time. It sounds cliche, but it’s true.
Don’t get us wrong – we get that life happens and that sometimes, you need to prioritise other commitments and expenses which could result in late payments on your loan or credit card.
Sure, a bank or credit card company won’t show up at your door after you miss one payment, but they’re definitely taking action behind the scenes. And how your creditors respond to late payments can continue to affect you for months, and even years, to come.
On top of that, your payment history will have a large impact on your credit score, so missing even one payment could ruin and wreck your credit.
The solution? Make it a habit to pay on time. Another great tip is to know the consequences of a late or missed credit card payment – that should be enough motivation to make you take extra effort to pay on time. On top of that, not providing the right tax information could affect your credit score.
Here are some of the consequences of late payment:
- Increased interest rate
- Bad credit score
- Late payment charges
- Unwanted calls and visitors
- The dreaded B word
Related: What Happens If You Make Late Credit Card Payments
4. Making it a habit to pay the minimum payment only
Why pay the bare minimum, when you have the capacity to pay in full?
When you take full ownership over something, you will try to give your level best in whatever it requires. In this case, paying your monthly payment consistently, and more than just the bare minimum, is crucial for your credit score.
“People often forget that their payments will impact their future borrowings and affect their reports,” Chong said.
Not only will late payments affect your credit score, Chong said, but minimum payments is also not the most strategic or sustainable idea.
It’s great that you are at least paying the minimum expected of your monthly payment. But even so, it can be costly to you in the long run, especially if you are not the kind who is careful or mindful of how you manage your credit.
When you only commit to minimum payments every month, you are essentially carrying a high balance on your credit card, which could increase your credit utilisation ratio – the ratio of your total credit to your total debt, but is usually expressed as a percentage. Credit reporting agencies will usually take this ratio into account as part of the process to evaluate your credit score.
As we have mentioned before, it is pertinent that you keep your debt utilisation ratio below 30% in order to achieve a good credit score. So if your combined credit limit is RM10,000, you should have a debt utilisation of no more than RM3,000.
Related: How Credit Cards Can Affect Your Credit Score
Paying down your balances in full can help ensure that your credit utilisation rate is maintained at below 30% utilization is a good start.
5. Cancelling your credit card?
For many people, closing their credit card account is usually the knee-jerk reaction to reducing their debt, especially if they have a bunch of unused cards lying around. In a way, it feels like spring cleaning your finances, right?
The problem is, cancelling your credit card doesn’t do that, but the exact opposite: it severely damages your credit score.
This happens because payment history (45%) and credit history length (7%) – as we’ve mentioned in our first point, when combined, make up the bulk of your credit score, so if you’re closing a card with a good payment history, you’re also completely deleting all that hard-earned record that banks love to see.
The worst part is you can’t get back that payment history, since you can’t go back in time. So the only way to get it back is to simply build it up again from scratch.
When you cancel a card, you’ll also increase your credit utilisation ratio. And as we’ve established, the lower your utilisation ratio, the better for your credit score.
6. Not practicing good financial planning
In order to maintain a good score, it’s crucial to practice sound financial planning. We can write a whole whitepaper on practicing good financial planning, but in the context of what types of mistakes to avoid to get a good credit score, we thought we could narrow it down to these few significant pointers:
a) Do not apply for more loans or credit than you can handle
Though we are not saying having multiple loans is a deal breaker, if you have more loans than you can handle, and you miss your payments, this will affect your credit score down the road.
b) Do no get a loan for unnecessary purchases
Maybe you signed up for a credit card because you need it to make an expensive lifestyle purchase. Before you do, consider whether it is necessary.
c) Do not provide false information about your financial status
Be thorough because even the smallest of errors in your credit report could affect your credit score.
d) Being a guarantor
You will need to rely on their payment capability, which is something that is out of your control.
e) Taking up loans to pay off loans
Unless you know how to properly navigate and manage this, taking a loan to pay off a downpayment is not a wise decision.
f) Being too dependent on future earnings
When budgeting, it’s best not to be over-dependent on future earnings to avoid miscalculations. For example, buying a newly-launched house just because you have extra cash on hand.
Building credit is a long game, and you are bound to fall sometimes
Some of us may be luckier than others to get good credit scores fairly early in our lives. For others, it can take years to get our credit score to be where we want it to be.
But like a muscle that needs constant exercising and workouts, credit takes time to build – you surely can’t do it overnight – not even in a month’s time either.
Instead, here’s what you can do: take small, but consistent steps of paying your bills on time, avoiding unnecessary debt and keeping your credit card balances low.
Take it from us, the best way to avoid mistakes is to develop good habits that can help you avoid those missteps. We wish you good luck in your credit journey!
