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Is your credit card helping you—or hurting your wallet? In this episode, we unpack whether credit cards are a smart financial tool or just debt in disguise.
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00:00Credit cards can be really good for you. It can be really bad for you. Credit cards to me is just
00:04a tool. I use RM1,000. Minimum payment is RM50. Yeah. So another $950 will be carried forward
00:10to the next month. Correct. And they will charge you interest. That's what we want to avoid. I know
00:13you can do it. The bank will have no issues with you doing it because it earns them money.
00:18But if you want to use a credit card, to me, you should never make minimum balance payment. You
00:22should always pay it in full. I think $120 a month per year, that's already $1,400. It's free money.
00:28Exactly. So my mindset to this is, if I'm going to be spending money anyway, then I may as well get
00:32some money back. You use a credit card, you spend, spend, spend. Your bank account money is still
00:36there. You don't see whether the money is being charged. But I didn't pay the credit card from
00:39delivery. Exactly. But a lot of people, they spend before even the month end, they already owe RM10,000
00:43suddenly. What's up, guys? My name is Emir. Welcome back to The Money Goal. Today, I have
00:52Shazran with me, who I think wants to talk about credit cards. Yeah, credit card. Okay, basically,
00:57I have a question about credit card. Okay. I saw a lot of my friends use credit card,
01:02but I'm not pretty sure whether I should go for it. Credit cards are actually one of my
01:06favorite tools. But credit cards can be really good for you, it can be really bad for you.
01:11So I think I've said this before, but credit cards to me is just a tool, right? It's like
01:15a hammer. You can use it for good things or you can use it for bad things. So it really
01:17depends on how you use it. I think most people, assuming you are financially disciplined,
01:23are you financially disciplined? I can go see the yes. Okay. Yeah. So I think most people
01:27who are financially disciplined, they should get credit cards. Actually, I think a simple
01:31way to do it is, since you're asking me if you should get one, you're most likely financially
01:35disciplined. So I think you should get one because there are a lot of benefits to having
01:38a credit card. Yeah. I'll just explain to you quickly. I think one of it is it helps you
01:42build your credit score. So assuming you pay your bills on time and everything, you can
01:45build your credit score. Is it important, the credit score? Yeah. So the credit score is
01:49important once you want to start getting things like, let's say, a house loan or car loan
01:53down the line, right? In the future. If you've never had any loans before, it's going to be
01:57very hard for you to get a loan for those things. Exactly. Yeah. And with a better credit score,
02:03you can actually get better interest rates as well. What do you mean by better credit score?
02:06Okay. So credit score is done by a few different companies. A few different companies that has
02:10credit score ratings. Some popular ones is, for example, CITOS, right? The most popular one.
02:15And I think the score ranges from, I think, zero to like 900. So 900 is the best. Zero is like
02:21absolute worst. So then we'll look at a few different things. For example, your credit
02:26utilization, how much credit do you use, and then whether you pay on time or not. There's a few
02:30factors in it. But assuming you pay everything on time, you don't use that much credit, your credit
02:34score will build up eventually over time. Yeah. Yeah. Actually, it depends on my spending.
02:38Yeah. I can say that. Correct. Correct. Why not? I go for debit card. I also use spend.
02:44Okay. So the reason that debit card doesn't contribute towards credit score is because when
02:48you use a debit card, you don't owe anyone money. Right? Because it's coming straight from
02:54your bank account. So then CITOS cannot determine whether you are a good borrower or not. Yeah.
03:00So they will only know if you borrow money, which if you use a credit card, it's considering
03:03borrowing money. So borrow money, consider good credit. I mean, can contribute to your credit
03:08score. Credit score. Exactly. Exactly. That's basically one thing. It helps you build credit
03:12score. And I think a lot of people, especially when you're just starting out, it's easier
03:16to get a credit card actually compared to a car loan even. Because the easiest way is
03:21the bank account that you're receiving your salary from. So let's say your salary right
03:25now is going to CIMB, let's say. It's easier for you to apply for a credit card from CIMB
03:29because they know that you're getting this amount of income every single month. Yep. So
03:32that's a trick basically for fresh grads and stuff to start building their credit
03:36score with credit cards. Before we go to basic of credit card, can I say ATOMI also
03:42contribute to the credit score? Okay. Buy now, pay later. I think it's a bit of a gray zone now.
03:47I think right now it is not included in CITOS. I might be wrong on this, but my understanding
03:52is it's not yet. But I think they want to get it included. Yeah, they want to get it included.
03:56Okay. I'm right. Maybe you can explain to me what is credit card and how this credit card
04:02works. Okay, sure. So a credit card works very similarly to a debit card. So I assume
04:06now you use debit cards lah, right? Oh yeah. For your payments, right? Yeah. So debit cards
04:09you use, you tap, it comes straight from your bank account. Yep. Alright. Credit cards you tap,
04:14nothing goes away from your bank account. Right? Your bank account still has the same amount
04:17of money. Instead, the bank will make the payment for you first on behalf to the merchant.
04:21So consider I berhutang with them? Correct. So you owe the bank. You don't owe the merchant.
04:25The merchant already gets their money. Ah, okay. Is there any limit for that? I mean, can I use
04:28tap, can I tap that credit card as much as I want? If you are very, very rich, then yes. But
04:33for a normal person, for a normal person, the bank will assign you a credit limit. All right. So
04:37it depends on the bank. Again, it depends on your credit score. And it depends on also your salary.
04:43So certain banks will use a multiplier of the salary. So example, if your salary is 10k,
04:47maybe the bank say, okay, I'll give you a 2x limit, you'll get a 20,000 ringgit credit card limit.
04:51Oh, okay. So that credit limit is depends on my salary and how my credit score works.
04:57Correct. Exactly. Exactly. That's pretty much it. Yep. Yeah. So, so that's how it works. And then
05:02at the end of the month, of course, you have to pay off. It's not free money just because it doesn't
05:05come away from your bank account. Obviously you have to pay it back. I mean, what if I cannot afford
05:10to pay that? Yeah. So what will happen in the, okay, so this is when credit cards get back. I think,
05:15so I've used credit cards for quite a long time. I have never paid interest before. So if you pay
05:20everything on time, you won't pay any interest. Using a credit card is completely free. You spend 1,000,
05:25you pay back 1,000, right? But if once you start making payments late, right, they will
05:32start charging you interest. Okay. And the interest for credit cards are extremely high. It's the
05:36highest interest rate loan compared to anything else in Asia. It ranges from like 16 to 18%
05:43a year. 16 to 18%? Yeah. Yeah. Yeah. So even if you owe 1,000, that's 180 ringgit extra on
05:49interest every single year. Okay. Yeah. So this is where it gets the interest. So credit cards
05:52also have this thing called minimum payment, which I think tricks a lot of people. So
05:56if you make your minimum payment, let's say your bill is 1,000 ringgit and then your minimum
06:00payment, they put it as 50 ringgit, let's say. Okay. Okay. If you make the 50 ringgit
06:04payment, you'll get interest charged on the balance, which is 950 ringgit. If you make
06:08zero payments, then the bank will start calling you and asking you why you're not making your
06:13payments, right? But I think a lot of people get tricked by this minimum payment thing.
06:16Even in my first job, they got a financial planner to come to the office and his advice was
06:21to make minimum payments, which to me is a bit crazy because I think a lot of people
06:25think that's all I have to pay. But it's not true. You have to make the full payment
06:28to avoid paying interest, basically. Okay. Let's say, we put an example just now. You
06:33said, I use 1,000 ringgit for this month. So minimum payment is 50 ringgit. Yeah. So
06:39another 950 will be carried forward to the next month, right? Correct. And they will charge
06:43you interest. Charge with interest. Yep. Correct. Oh, okay. Yeah. That's what we want
06:47to avoid. I know it's, you can do it. The bank will have no issues with you doing it
06:51because it earns them money. But if you want to use a credit card, to me, you should never
06:55make minimum balance payment. You should always pay it in full. So in order to avoid this,
06:59what interest, I need to use it and pay on time? Yes. Correct. Correct. You don't have to
07:06use your credit card, so it's fine. But yeah, I do think credit cards are good. I read somewhere
07:10that if we not use the credit card, then the bank will charge me something? Not that I'm aware
07:16of. So usually credit cards also have this thing called an annual fee, a management fee. It can
07:20be, let's say, 200 ringgit or 500 ringgit, depending on your card. And usually banks will say,
07:24okay, if you spend a certain amount a year, we will waive the fee. If you don't hit that limit,
07:30then we will charge you this fee. Oh. Yeah. I think that's probably what you're referring to.
07:34That's how banks work. Correct. Correct. Correct. Correct. Yeah. Yeah. Yeah. I mean, besides that,
07:39I saw there are called statement balance and what another one is? Outstanding balance. Outstanding
07:47balance. Yeah. Yeah. Yeah. Okay. Why there is so many? Okay. So this is what you will see in the
07:51statement, right? You will see a minimum payment, statement balance, outstanding balance. So
07:54statement balance will depend on your statement date. So this one is like your phone bill. It
07:58really depends when it's your statement date. Some people is first of the month to first of the
08:01month. Some people is 15 to the 15, right? It doesn't matter lah. Right. But statement balance is how
08:06much you spend between the first of the month to the first of the next month. Assuming your
08:10statement date is the first lah. That's your statement balance. Okay. Outstanding balance is
08:15however much money that you owe to the card right now. Okay. So let's say, from 1st January to 1st
08:22February, you spend RM1,000. Okay. Okay. So your statement balance for that month is RM1,000. Okay. But in
08:27February 2nd, you spend another RM200. So now your outstanding balance will be RM1,200, but your statement
08:32balance will still be RM1,000. Okay. Yeah. Because you spend the RM200 in February kan? Then you just
08:38have to, you have to pay in the following month lah. So which balance should I pay? Okay. So I have
08:43gone through this before and I've made a mistake before. According to the banks, the best is just
08:48pay your statement balance. Pay the statement balance? Pay the statement balance. You can pay the
08:52outstanding balance, but it's better to just follow the statement balance. The reason that I say that
08:56is because I have gotten a statement balance before of RM1,000. Okay. And then I got cashback
09:01RM50. So I thought, okay lah, now outstanding balance is RM950. I just pay RM950. But apparently
09:06that's wrong. Some banks say that I still owe them RM50. I have to pay the full amount first.
09:11The cashback is for the next month. Oh, okay. Yeah. Yeah. So that's why they said, I think
09:14the simplest way is just pay your statement balance on time every month before the due date lah.
09:21Before the due date. Okay. Yeah. Yeah. Yeah. That's the easy way to do it.
09:23What if I cannot afford to pay that? So I can go for minimum balance? You can go for
09:29minimum balance? But with your chest interest. Correct. It's just not ideal. I think there
09:33are even, okay, I'm not a proponent of personal loans. I don't like personal loans because the
09:38interest rate is very high. But even a personal loan has lower interest rate than credit cards.
09:41Yeah. So if let's say you're in a really bad situation lah, I would even take a personal
09:46loan to pay for a credit card bill. Yeah. Because of the interest rate differential. It's just huge.
09:51Yeah. But obviously the best is you don't get yourself into that scenario in the first
09:54place lah. Right? Yeah. Exactly.
09:57Is there any other benefit that credit card can offer as compared to debit card?
10:02Right. Okay. Yes. There's a few more. So one more is convenient. So I think it's very convenient
10:07to use your credit card. You don't need to worry whether your balance is there or not, whether
10:11you have enough or not. Maybe you keep your money in a different bank or something.
10:13But there are limits, right?
10:15Yes. There is limit. But I meant at least it's not limited to whatever you have in the bank account
10:18at the time lah. Right? That's one thing. Another thing that I really like about credit
10:22cards is, I don't know if you've gotten fraud transactions on your card before.
10:25Fraud?
10:26Yeah. As in someone used your card and then bought something on TikTok or something.
10:29For debit card?
10:30Yeah. For debit card. Have you gotten it before?
10:32Not yet.
10:32Okay. So I think you're lucky lah. But I've kenned it before. I've kenned it before. Debit and
10:36credit card I've kenned it before. Okay? So one thing about credit card is that, let's
10:40say there's a fraud transaction. 500 ringgit someone spent my credit card. I need to call the
10:44bank lah. And usually the bank will sort it out for me. So the good thing about having a credit card
10:48is, even though I couldn't charge 500, I don't have to pay for that yet. Okay. Because
10:52it didn't come from my bank account. Right? Okay. Yeah. Correct. So then I will wait for
10:55the bank to investigate and then eventually they'll refund. Most of the times they'll
10:59always refund me. Assuming it's a legit claim lah. It's really fraud. But if you use a debit
11:04card and you couldn't fraud 500 ringgit, the bank will investigate but the 500 ringgit is
11:08gone from your account. Oh, it's deducted. It's deducted from your account. Yeah, definitely.
11:11So they will investigate but obviously since they know, you know, it's your money, it's not
11:14mine. Maybe they take a bit more time. Right? And I think people that, let's say if this
11:19500 ringgit is really important for you for the month, you need it to buy your meals and
11:23stuff. If you don't have it while the bank is investigating, it's very troublesome for
11:27you. Yeah. So actually for that reason, I never use my debit cards anymore. Yeah. Because
11:31I think there's a lot of risk of people getting access to our cards somehow and then just spending
11:37money without authorization. Right? So that's another thing. And then the final thing is cashback
11:41rewards. Cashback. Yeah. So a lot of credit cards either have cashback in form of actual
11:47money. So let's say they say 5% cashback if you spend on petrol or whatever it is. And
11:52some credit cards have reward points. Yeah. I think typically most people should go for
11:56cashback because that is more, it's actually a higher percentage compared to points. And
12:02you can actually get for a lot. So I have a few credit cards, spread across a few credit
12:05cards. I think a month I get about 120 to 150 ringgit in cashback, which is quite a lot.
12:10It depends on your spending. It depends on your spending and which credit card you use.
12:13So different credit cards will have different categories. Let's say this credit card is good
12:16for petrol. This credit card is good for dining. So you just manage around that. And yeah,
12:21it's actually quite a lot. I think 120 a month per year, that's really 1,400.
12:26It's free money. Exactly. So my mindset to this is if I'm going to be spending money anyway,
12:31then I may as well get some money back. But of course then some people, they will tell
12:35themselves, actually, I don't want to buy this, but it's okay. I can get cashback. So I think
12:39that's the bad part. That's the part when you overspend just because you think you can
12:42get cashback. Yeah. But there is that benefit where if you just spend like normal, you may
12:46as well get some reward back from it, right? Yeah. Other people are paying interest to
12:49the bank, then the bank has to pay you for the cashback. So yeah, exactly.
12:54Shouldn't that credit card more high risk as compared to debit card?
12:57For the banks or for us?
12:58For us.
12:59High risk. Okay. High risk in the sense that you can go out of control. Yes.
13:03Yeah. Yeah, yeah, yeah. But risk in terms of losing access to your money, like I was
13:08talking about earlier, then I would say debit cards are riskier. But yes, I think a lot
13:11of people can overspend. And I know that for some people that have very bad self-control,
13:16credit cards are probably not the right thing for them.
13:19Is there, I don't know, maybe some advice for me, like first time to use credit card?
13:25Yeah.
13:25Is there any sort of overspend?
13:27Okay. So I think the normal things still apply, right? You should only spend within
13:31your limit, right? What you can afford. I think a lot of people, you use a debit card,
13:37if you spend, spend, spend, you see your bank account go to zero, you know, oh, I cannot
13:40spend anymore, right? You use a credit card, you spend, spend, spend, your bank account
13:43money is still there. You don't see whether the money is being charged to when you can't
13:47overspend.
13:47But I need to pay the credit card from debit card.
13:48Exactly. But a lot of people, they spend before even the month end, they already owe
13:5110,000 ringgit suddenly and I don't have the cash to pay that. Yeah. So that is dangerous.
13:54So you still need to spend within your means or you need to make sure.
13:57Um, one trick that I do tell some people who are just wanting to start out with credit
14:02cards, right? Is that instead of paying it off at the end of the month, right? Paying
14:07it once a month, you can pay off every week.
14:10Every week?
14:10Yeah. So let's say, let's say, um, this week you use your credit card and you check your
14:16outstanding balance at the time. 500 ringgit. Just pay 500 ringgit first.
14:19So I pay accordingly to my outstanding balance.
14:21Correct. In that moment when you're not following the monthly rule, then you can follow the outstanding
14:24balance. Okay.
14:25Right. So the reason I say this is good to do it weekly is so that at least you see
14:28the money leaving your bank account. That's what we want to make sure that, uh, you don't
14:32overspend lah. So at least you spend this week lah. Alamak, it's 500 ringgit. Oh no, now
14:36my bank account is, uh, already getting low. Yeah. So maybe for the rest of the weeks, I
14:41won't spend so much. Yeah. So those are the things that some people do. Even still, some
14:44people do it daily. Some people every day, but I think that was too lece lah. Every day
14:48is a bit too much. So weekly, I think that's something that people can practice just to get
14:52the hang of using credit cards lah. Yeah. Responsibly. Responsible for the things that
14:57I spend lah. Yeah, exactly. Exactly. Exactly. Yeah. Hmm. I think I can see the credit card.
15:03Yeah. Actually it's really good. Some people use credit cards even for like the emergency
15:06funds. All right. So let's say you have an emergency fund for any emergencies, uh, that's
15:11worth 20,000, let's say. But you don't want to put it in a bank account because it's not
15:14earning you anything. So let's say you want to put into ASB, but ASB, you have to take some
15:19time to withdraw. You have to go to the bank, uh, to get the money out. Yeah. Or if you
15:23want to do it online, it's just 2,000 ring a month in the limit. Right. So people use
15:27credit cards in this instance. If like, I really have to pay now, I cannot go to the
15:30bank. At least, you know, they have a credit card. Pump. Tap. Tomorrow you go to the bank,
15:34withdraw from ASB and pay it off. Yeah. Some people use credit cards for that as well. So
15:38there are a lot of benefits. It gives you flexibility lah. Can I withdraw money from a credit
15:42card? You can. Again? Yeah, you can. But I wouldn't lah. You actually can. Yeah. So you
15:47can go to an ATM, put in your credit card and you can withdraw money from it. What
15:49if my plan was, let's say I withdraw my money from credit card and I put on my ASB or tabung
15:54haji. Yep. Is it a good? It's not a good idea. Is it a good idea? Because ASB gives you
15:595% a year. The credit card charges you 18% a year. Interest. Oh, okay. Yeah, yeah, yeah,
16:04yeah. So it's not a good idea. Yeah. I've actually never tried that before. I've never tried
16:07withdrawing credit card, uh, like cash from credit card before, but it is possible. So
16:11there are a lot of use cases lah, like I said, which could be legit, right? Maybe you just
16:16really need some cash today and you know that there's a payment or your salary is coming
16:19tomorrow. You can use your credit card as well. As long as, again, you use it responsibly,
16:23then I think it's not an issue. Okay. It's a really good tool. Okay. What, maybe what is
16:28the worst case that I can get if I cannot afford to pay the credit card? Worst case as in worst
16:33case scenario? Um, what is the effect lah? Again, in case the effect is, can bank declare
16:38me bankrupt or what? Yes. So, okay. But bankruptcy, there is a limit to it lah. I think bankruptcy,
16:42it has to be 50,000 ringgit at least. Um, but the dangerous part about credit cards, I guess I
16:47thought a lot about the good things lah. I guess I should talk about some of the bad things as
16:49well. Just for some people listening, right? Yeah. So, these things can really start to snowball,
16:55right? Assuming, let's just say lah, monthly it's 1%. 1% per month, 1 year 12%, lah. Let's say
17:00interest charge, right? This month you owe 1,000 ringgit. So you're gonna charge 1% of that 1,000
17:05ringgit, which is 10 ringgit. Right? So now you owe 1,010. But next month, the interest charge
17:10is on 1,010 ringgit. So your interest charge is no more 10 ringgit. Now it's going to be 11 ringgit.
17:15Right? So the amount that you were being charged interest keeps going up and up and up. There's
17:20some people when they make monthly payments minimum, minimum, minimum, all you're paying
17:23for is just the interest. You're not reducing your debt at all. Yeah. So I think a lot of people can
17:28get into this, uh, it can snowball quickly where suddenly their credit card is just maxed out.
17:34Right? And then the bad thing really comes is when they use another credit card to solve this
17:39credit card's problem. Or I take another loan to pay for this credit card. Suddenly I have
17:42so many different loans I'm just paying interest on and it can get very bad lah.
17:47They like you tutup lubang gini and dukali and dah lup. Exactly. Exactly. Exactly. Yeah.
17:53Yeah. Again, one way that you can also control yourself is, uh, you can request for a lower limit
17:57from your bank. Right? Yeah. So if let's say you are scared that you're going to go crazy and
18:03you're going to overspend, you can always request from your bank to put a lower limit for your
18:07card. Let's say I put limit 5,000 in mine. So let's say I spent 5,000 this month so I
18:13cannot use the credit card anymore. Correct. Oh, okay. Correct. So let's say the bank is
18:16willing to give you 10,000 lah. Shazwan, for you, looking at your salary, everything, we're
18:19going to give you 10,000. But let's say if you're scared of overspending, you tell them,
18:22it's okay, I want to reduce it to 5,000. So that one I need to go to bank or can I use?
18:26I think you can call them. You can call them. Yeah, yeah, yeah, yeah. So these are all ways that
18:30you can prevent yourself from overspending. I think that is a small minority of people
18:35that will just never be disciplined enough with money, that they just should never get
18:40a credit card. But I think the majority of the people land in the space where with the
18:44right controls in place, like let's say paying monthly or making sure your limit is not too
18:48high. Sorry, not paying monthly, paying weekly, right? All these controls in place, I think
18:52majority of people can have a credit card lah. And eventually you want to build financial
18:56discipline, right? Eventually you want to do that. I think I understand already what is
19:00the benefit of credit card and what is the downside of credit card. Yeah, the risk lah,
19:05right? Yeah, yeah. Yeah, we, I think we have questions from listeners. Okay. I mean,
19:11they're related to credit cards, right? Related to credit cards. Okay. Right after I got my
19:16first job, my bank approved me for a credit card. Yeah. My salary barely covered rent and
19:21makan, but I feel like my boss with plastic in my wallet. Okay. When Ryan came around, I didn't
19:27haul back. I spread a new outfit, rent a fancy car, and even cut up food for my family,
19:32open house. Yeah. It was all to show my relative that I was doing well. Okay.
19:38Menunjuk lah ni. The flex last one day, the debt last six months. So the question is,
19:43exactly. What are some smart financial habits you can practice to avoid using your credit
19:47card for a presence or ego? Yeah. Okay. I think one thing that people need to realize
19:52is like I told you earlier lah, um, when you use a credit card, you still only spend within
19:56your mean. So I think this person said at the end of every month, they are already struggling,
20:00right? They're paying, I don't know what it was, food or rent or whatever it is, right?
20:03I think in that scenario, you can get a credit card still, but your credit card should be going
20:07towards paying for your food. Like the normal food that you're eating every day lah, right?
20:11If you don't have the cash to buy bajuraya, then you shouldn't use your credit card to buy
20:16bajuraya. It's not like, it's not a tool to help you buy something that you cannot afford.
20:21That's pretty much the gist of it lah. And I think any tips to make sure that you don't
20:25spend for your ego and stuff, I think similar to what I told you earlier, pay weekly or
20:29pay daily, or even if you want to make it, you want to be very disciplined. Let's say
20:33if you're buying something outside of your budget, something that is a one-off, let's
20:36say bajuraya, you only use your credit card if you can pay it off instantly. So for example,
20:42sometimes I do this as well. If it's a big purchase, like for example, I buy flights,
20:45that's a few thousand ringgit. I like to tap my card to get the cash back and everything,
20:50but I will pay it immediately.
20:51Can you use debit card work?
20:53But I still want a cash back.
20:54Oh, you want a cash back.
20:55Exactly. Yeah, yeah, yeah. So that's why I do it.
20:57So you're aiming for the cash back.
20:58Correct, correct, correct. So in that instance, you can, but like I said, I paid immediately.
21:02This is to make sure that whatever I'm spending on, I can afford it. Otherwise, if it's just credit
21:08card, maybe I thought, maybe business class also not bad. And then when the statement balance
21:11comes, suddenly I cannot afford it.
21:12Okay, we have another question. I signed for my first credit card at a mall booth because
21:20they were giving away a free gift. Oh, this one I experienced before. It was just a small
21:26power bank, nothing fancy but enough to make 20 years old me feel like I scored something big.
21:30Okay. I had zero clue how credit card actually work. No budgeting, no tracking, just buy. Within weeks,
21:36I was using it for concert ticket, late night, food craving, online shopping. All while convincing
21:43myself, I paid it back later. Then the statement arrived, 1,008. I checked my bank account only to
21:4932 ringgit. That free power bank, it turned out to be the most expensive thing I have ever owned. So
21:56the question is, what one thing every time, every first time card always should understand before
22:01they start swimming? I think basically this reader should just watch this whole video and
22:05they'll probably understand, right? So since I think that question is already answered, I'll just give
22:09another tip or advice on this topic. Because I think we see a lot of this credit card salespeople.
22:15I don't know whether they're salespeople, but they're promoters. Yeah, promoters, right?
22:19Exactly. And then the luggage, luggage and stuff. Sometimes I'm quite tempted also, right?
22:23To get a luggage or something. I pretend to them that I was a student.
22:27To not lie on them, yeah. So I think, okay, one tip is that these guys, they usually give quite
22:33low value items. Actually, probably like 20 ringgit, it's quite low value, right? It's not much.
22:38Just take the item, then go away. Exactly. But you still have to apply for the credit card.
22:44You have to apply, then they will give it to you, right? So if you want to apply for the credit card,
22:49there's actually a lot of online websites, which I won't mention, but I'm sure a lot of people,
22:53when you Google for a credit card, you'll see those websites already. They're legit websites,
22:57right? And they'll actually give you a lot better benefits. I have applied for credit cards before,
23:02and it gave me like 800 ringgit touch and go voucher for that. Yeah, there are some,
23:06there's like 1000, some banks are really aggressive, you apply for the credit card,
23:09make a minimum spend of let's say 500 ringgit in the next three months, they give you a thousand
23:13ringgit touch and go voucher. Yeah. So if you're going to get spunk in debt,
23:17okay, don't do that. But if you're going to get a credit card, then you may as well
23:21get it through some of these online platforms that you can really get huge rewards from. Maybe some of
23:26the credit card promoters watching this video won't be happy taking away from their business. But
23:31as a consumer, this is a reality, you can get much more than a power bank. Don't go for power bank.
23:35Yeah, sometimes you can even win prizes. Like sometimes you can win an iPhone and stuff. Yeah.
23:40But don't apply for so many credit cards just to just to get this cashback. I actually have some
23:45friends who apply multiple cards, take the thousand ringgit and then they cancel credit card.
23:50Apply another bank, take the thousand ringgit, cancel the credit card. Does it affect the credit score?
23:53No, it doesn't. Okay, then we can do that. You can. Yeah, I think it's enough for me for today.
24:01Okay, okay, cool. Thanks. Nice talking to you, Shahzuan. Thanks a lot for this. I hope you guys
24:07enjoyed this episode and we'll see you in the next one.
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