Real Benefits of Having A Credit Card
The evils of credit cards? Not if one knows how to manage it wisely. In my opinion, a credit card is not something of a luxury but something which can be of good use and can be put to good use for the benefit of the card holder. I do carry credit cards and I do carry them for certain purposes. As you read on, you will see what benefits I get from having a credit card at hand. It goes without saying that most of these benefits would only be enjoyed at its optimum provided you are able to manage the cards wisely.
Small and Handy
I would prefer carrying a credit card with me, which is equivalent to the size of my business card, compared to carrying plenty of cash around and risk being robbed of all the cash. Even if you are robbed of your credit cards, your liability is limited if you notify the credit card issuer immediately. On a worst case scenario, it works as a cash advance card but notice that I said worst case scenario because you wouldn’t actually want to utilise cash advance if you can help it because the rates are a killer.
Consolidation
A credit card helps to consolidate your purchases and spending into one monthly bill. You can choose to pay your recurring bills like utility bills and insurance premium through direct debit from your credit card and thus need not have to go through a few payment processes. Read more
Lee Nian Ning’s Case. Some thoughts…
Firstly, my condolences to the families of Lee Nian Ning, Mohd Zailani Mustafa and Pang Poon Eng who perished in a recent bus crash which shocked the nation. In the horrific bus crash on 25.01.2008, 24 other passengers were also reported to have sustained injuries arising out of the crash. Many bloggers have written to convey their condolences and outrage over the bus crash - what more when they discovered through news reports that the bus driver, who escaped with injuries, had 13 outstanding police summonses issued against him. There is an ongoing effort to collect evidence and gather witnesses and victims together to file a claim against the bus company involved for the unnecessary deaths and injuries.
Based on whatever little information on Nian Ning that is available on the net and through the mainstream newspapers, I gathered that she was 21 years old at the time of the accident and was an medical undergraduate in the University of New South Wales under the Public Services Department scholarship. I presume she is still single and was not gainfully employed at the material time of the accident.
I believe that it would not be difficult for the family of Lee Nian Ning to establish legal liability in a civil suit against the driver of the ill-fated bus for negligence in controlling the bus. The bus company, as the employer and owner of the bus would be vicariously liable for the actions of the bus driver. As a passenger in the said bus, it could hardly be said that she had contributed to the accident. Therefore, the establishing of legal liability on the part of the driver and bus company should be the least of the family’s concern. Read more
Things To Consider When Choosing A Credit Card
Generally speaking, credit card customers now have the luxury of choosing a credit card out of the many different types of credit cards available in the market. Financial institutions are becoming more aggresive in their approach to capture the credit card market and this is largely attributed to the high earnings for these financial institutions through commissions paid by merchants and high interest rates charged to credit card holders when the full outstanding sum is not paid by date due. It is therefore not surprising that these financial institutions even issue different types of credit cards to attract different segments of the market. So, how should one go about choosing the best credit card to apply for? What are the things you should consider when choosing a credit card?
Annual Fees
First and foremost, find out whether any annual fees are payable. Some credit card issuers waive annual fees totally with no terms attached (one of which is Direct Access under CIMB Bank). Some waive the annual fee for the 1st or first couple of years. Some would waive the annual fee subject to your amount charged per month or year. Some would waive the annual fee subject to the usage of the card for a stipulated number of times. In my opinion, annual fees are archaic and should be done away with - especially with such stiff competition between the financial institutions. Anyway, even if your credit card comes with an annual fee, it does not prevent you from requesting for a waiver when the annual fee is due provided you are a good paymaster.
Incentives for New Card Holder
Freebies? Some will entice the new credit card holder with gifts, free hotel stays and so on. However, do make it a point to find out whether there are hidden terms related to the free gifts. Some will require you to spend a minimum amount of money or transaction before you qualify for the gift. Sometimes you will discover that to utilise the free gift, you will have to “top up” by paying for other incidentals. In such cases, it is obvious that it not really free. Do read the fine prints. Financial institutions are rarely likely to be generous 
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