If you’re disciplined with your spending and committed to repayments, there are several advantages to owning a credit card in Malaysia. Understanding how credit cards work is key to maximising the benefits. Here are 5 reasons why having a credit card can be incredibly beneficial!
1) Enjoy great rewards
Credit cards often have reward programmes that you could maximise. When you spend with your card, you receive points that you will then accumulate to be converted into an array of rewards or discounts. These all sound good, but do be wary of the trap of overspending just to collect points for rewards.
2) Safe and secure
Great news for frequent online shoppers, credit cards allows for a safer and more secure shopping experience. Most credit cards come with multiple layers of security and fraud protection, so your risk of losing your money when making purchases online is lower
There are Rewards cards, and then there are Cashback cards. Cashback features on credit cards pay the money back into your account when you make a purchase with the card. You get to save money based on your expenses, and the amount you’ll get back will depend on the credit card’s cashback rate, which can be up to 10% in some instances.
4) Universal acceptance
Unlike some e-wallets and cold hard cash, credit cards are accepted virtually anywhere in the world. When you are travelling overseas, having a credit card could be a safer and more convenient way to travel and make purchases due to it being universally accepted.
5) Complementary travel insurance
Most credit cards come with several consumer protections that include travel insurance. Cards with this feature are really sought after by frequent travellers as it adds an extra layer of protection while you’re having fun far away from home.
Getting a credit card can be daunting, but there are some really beneficial perks and features that come with owning a credit card! If you’re looking to get one for yourself, have a look at these options here https://www.rhbgroup.com/personal/cards/credit-cards/overview/index.html