Plastic Fantastic: Demystifying credit cards for us in their 20s and 30s

Hello dear Youth!

Remember those bulky wallets full of cashbacks?

Fortunately, times have changed and credit cards have become an integral part of our daily lives.

But with so many options, choosing the right one can be like hiking through the jungle after a hearty breakfast of nasi lemak (we've all been there).

Please do not worry.

This guide will serve as a financial compass to help you choose the credit card that perfectly complements your #adult journey.

Why do I need a credit card?

Let's be honest:

Carrying around a wad of cash isn't ideal. It's boring, unrealistic, and frankly a little dangerous.

Credit cards offer a safer and more convenient alternative.

Plus, it opens up a world of perks and perks that will help you save on the things you love, like extra drinks ☕ or tickets to your next music festival.

5 important things to consider before saying yes to credic card.

Now, before you start swiping like crazy, you need to keep a few things in mind.

1.Annual fee: Not all cards are the same

Think of the annual fee as the cost of joining a credit card club.

Some cards have them, others don't.

The key here is that cards with higher annual fees often offer better perks like cash back and travel miles.

However, if you're new to budgeting, a no-annual-fee card may be a better solution.

2. Award, brilliant prize!

This is the place to be exciting!

Credit cards provide a variety of reward programs that help expand their money.

There are several general options here:

Cashback: is the same as acquiring discounts for each purchase using a card. Perfect for every day!

Earn your miles: If you travel frequently, this is the place for you. Earn miles on purchases and redeem them for flights and hotel stays. ✈️

Shopping Reward Points: Collect points from your favourite brands and retailers and redeem them for discounts and exclusive products. ️

3. Interest-free payment: Cost allocation

Let's be honest:

Sometimes the gadget or outfit of your dreams can't wait until payday.

This is where interest-free instalments come in handy.

Essentially, you can split your purchases into smaller monthly payments without incurring any additional charges.

This is a great way to manage your budget, but remember that it's always important to only spend what you can repay.

4. Abroad: Use your card abroad

Traveling is a great way to experience new cultures, but managing foreign currency can be difficult.

Fortunately, many credit cards are accepted around the world, making it easy to pay for purchases abroad.

However, please note that Foreign Transaction Fees may add a small fee to your purchase.

5. In a cash crunch: Withdraw money via credit card

Suppose you find yourself in a situation where you desperately need money.

Although not ideal, you can usually withdraw money from an ATM using your credit card.

However, keep two things in mind:

Cash Withdrawal Fee: This is a one-time fee when withdrawing cash.

Cash advance interest rate: Usually much higher than the regular interest rate at the time of purchase. Therefore, it is advisable to use this option as a last resort and repay the loan amount as soon as possible.

Remember: It's important to use your credit card responsibly.

Credit cards are valuable tools, but it's important to use them wisely.

Here are some golden rules to remember.

Please only use the amount that you can repay in full by the deadline. Don't get caught up in a cycle of debt. ‍♀️

Pay your bills on time every month. Late payments can negatively impact your credit score.

Track your spending. There are many budgeting apps that can help you manage your finances.

Summary: Find the perfect credit card

When it comes to credit cards, there's no one-size-fits-all answer.

Which card is right for you depends on your lifestyle and spending habits.

So do your research, compare different options, and choose the card that offers the benefits that matter most to you.

With a little planning and this handy guide, you'll be on your way to financial freedom (almost, almost!) in no time.

Go ahead and conquer the world on your next online shopping trip.

Credit Card Confusion Got You Feeling Like Teh Tarik Gone Cold? This Guide is Youth Millennial's Credit Card BFF!

Wondering if credit cards are worth the hype? This Yiuth guide spills the tea ☕️ on annual fees, rewards programs (hello cashback!), using your card overseas, and even emergency cash withdrawals. Learn how to pick the perfect plastic pal for your #adulting journey and avoid drowning in debt! Swipe right for financial freedom (almost ) and budgeting tips for Youth in their 20s and 30s.