Should I apply for a credit card? (Malaysia)

If you have been walking around in shopping complexes long enough, most likely you would have encountered promoters trying to get you to sign up for a new credit card (plus a free gift). Sometimes, you would probably encounter promoters promoting credit cards from various banks.

Should you go for it? There are good points and there are bad points.

Let me begin with some good points:

1. It’s better than borrowing from “Ah Long”.
2. You would need it if you or your loved ones need to get admitted to a private hospital. Private hospitals will need a deposit before they do any major procedure on you. Or else, you will be transferred to the government hospital. Further, most of us do not carry so much cash in our wallet.
3. You would need it if you are suddenly jobless for whatever reasons and you have no extra cash. Living in a city means you can’t plant your own vegetables and hunt for meat. Almost everything cost money!

 The bad points:

1. You start to buy expensive and branded products as if there is no need to pay back.
2. You do not manage your credit card account/s and got yourself blacklisted.