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"Steal his rights to redemption and justice, and you've stolen everything from him."
Yow Chuan

Meshio.com

a Malaysia personal finance blog

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The Real Prestigious Card – The Debit Card

Posted on September 5th, 2008 in Daily Observations, Debts, Malaysia Islamic Finance, Malaysia Personal Finance |

In fact, any debit cards. Bet you the bank didn’t want to promote this, since they don’t earn anything from your debit card transactions. Instead, high volume of debit card transactions might even increase their administrative work.

Here’s a nice piece of advice from ShadowFox on why you should opt for debit card (18 SX only):

Yes, that’s my my personal opinion. You know why ?

Nowadays, it’s true that we cannot live without a ‘credit’ card. I would prefer not to call them ‘credit’ cards but electronic payment cards.

Now, the credit card companies have always been advertising and giving the impression that you’re an elite and earn a nice salary to be able to afford a credit card.

I beg to differ.

If you’re well off, you have money, why the fuck do you need to owe money on credit ? That’s so fucking pretentious and fake.

If you got money, you buy in cash, not credit.

The only reason to get these cards is for convenience and not having to carry cash around, and also for electronic/online purchasing.

That’s what these cards shine at.

Even rich people can become poor if they abuse the ‘credit’ card and spend unwisely.

There is nothing prestigious about owning a credit card.

To me, I think it is humiliating if you need to have a credit card because it shows you’re not capable of paying on the spot but need to HUTANG duit to get anything you want. It’s amazing how advertisements and marketing can brainwash poor people to think they’re rich when in actual fact they owe money like no tomorrow.

Many yuppies nowadays abuse the card like there is no tomorrow and go bankrupt while flashing their nice cars. Duit tak ada, tapi gaya mesti ada.

You only need 1 card that can do it all for purchasing online and offline.

Getting a debit card is much safer because you don’t have to worry about being forced to pay for things in case your card gets frauded, which is very common in Malaysia. The thief can only max out whatever you put into that card’s account.

It has all the important functions that a typical credit card has and I sincerely believe a debit card should be the BRAG factor, not a credit card.

It simply shows that you don’t need to owe anyone money in order to purchase the things you want.

Now if you’re a business owner would you prefer your customers to hutang you or pay on the spot? Take your pick.

Credit card is only for the poor people and wannabes. Debit card is for those already with money and don’t need to owe anyone anything.

Al Rajihi ATM Debit Card

And of course, I love debit cards too!





You might want to read these too... Comments
  • I have 2 debit cards... public bank and ambank. come visit my blog here to read: -

    http://www.cekikdarah.com/cashflow/budgets/gett...
    http://www.cekikdarah.com/cashflow/budgets/gett...

    CekikDarah.com! was here!
  • Hey Cekik Darah, thanks for dropping by. Nice site you have there!

    You should add al-Rajhi to your collection!
  • Ramani
    Hi Yow Chuan,

    I do agree, that Credit card can lead you to IMPULSE spending.
    It has it's convinience for overseas travel & utility online settlement, provided you lock it up @ home.

    I have a Al Rajhi Debit Card / ATM Card that came with my current account...... but here's the thing.
    Have not personally tried the card at any Visa locations yet. But from reading many blog's and the
    Al- Rajhi bank managers, they all tell me that some times it works and sometimes it doesn't, this differes from Merchant to merchant.

    As for the Pay Pal Withdrawal, there are many blogs that say it works for some and not others.... !

    Does the Pay pal account when opened/registered be a Malaysian address or how?

    Thanks....
  • Hi Ramani,

    You should specify your Malaysia address if your correspondence address is in Malaysia and if the credit/debt card you wish to tie to your PayPal account is also in Malaysia.

    The major problem with Malaysia right now is that there's no way you can withdraw money directly to your bank account. And of course, not to mention the extra transaction fees that one needs to pay.
  • Steven
    the idea of using the debit card to manage your finances is a great idea, i totally agree cos i was and still am the victim of using the credit card like no tomorrow. but if u have good self control, a credit card is also a good thing for saving times and effort in managing your finances.

    For example, u can have all your bills on autodebit via your credit card since some of the billing dates are not the same and our salary is only at the end of the month of beginning of the month. By using the autodebit u wont miss the payment dates, just have to pay off the credit card once a month. And also when there is an offer to pay for something for interest free installments, which i think it is good to use for the right thing, for example like paying for medical bills in an emergency case or pay for paying for one year lesson or membership in advance with a credit card that offer u to pay in 12 months. That way it will still be in your budget to do something u want but dont have to pay up front.

    I want to say it again that a lot of self control is needed if to use the credit card for installments and all.

    i hope there are solutions to help those who need to clear the credit card debts and those who are blacklisted that need a second chance to clear the debts and restore the credit.
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