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For those who love plastic cards, you have all these 3 choices to be put inside your wallet besides you MyKad, driving license, gambar si dia and ATM card. Yeah, all these cards make people really feel safe, macho, wealthy & convenience especially credit card. If you hate your ATM card (usually in the middle of the month), you will always look for er.. credit card.

It is no wrong to use all these facilities. Just use it wisely. Wise people will make something bad become really good and stupid people can change gold into trash.

1. Credit Card

You have no money inside the account, but you can use the bank’s money for your spending up to certain limitation and pay the money you owed later either in full or partial. As long your pay your debt during the grace period, you won’t pay any interest.

Life is sooooo easy right Visa… Mastercard anybody?

2. Debit Card

You have cheque book? Than it is similar with your cheque but it is in a plastic form. If you have RM 10000 in your account, you can spend up to that limit. But if not even a penny, well… no use lah!

If you dislike to make any debt, you always have a cash but you’re worried with the crime rate, it may be the best for you.

3. Charge Card

It is similar with credit card. You have no money in the account, but you can use the bank’s money for your usage. It is a very short term loan facility which you need to pay all the full balance. No partial payment or you have to pay a penalty fee, restriction and even cancellation of the card.

American Express, Diner Club, al-Rajhi is among the institution who are offering the facility.

Which is the best?
Well, it is not really accurate to say, “we all should have all of the above,” or “we all should have none of the above.” It is you yourself who shall plan your spending. Either by using all the plastic cards or not, the basic is coming from a proper financial planning.

There are people who become bankrupt by credit card and there also people who enjoy using it wisely. Your call.

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