My First Credit Card: PB Visa Gold

Filed in: Life Log — July 26th, 2007

I received the first credit card in my life! It is a Public Bank Visa Gold credit card, credit line is RM10,000.

Image: My first credit card – PB Visa Gold Credit Card

No need income supporting documents

I applied the card via my friend about two weeks ago. My friend told me that, “anyone who invested RM10,000 or more in Public Mutual fund for over 1 year can apply a PB credit card without having to submit other income supporting documents.”

I have invested more than 10K in Public Mutual funds for less than a year. My friend asked me try to apply anyhow. If approved, he can get RM100 commission and I get a gold credit card. If not approved, I have nothing to lose too.

The application was simple. Just filled up the application form and enclosed a photostat copy of my NRIC.

Why credit card while I have debit card?

It was my 2nd attempt to apply for a credit card. My first attempt was a few years ago when I just got my first job. My application was rejected by Citibank without any reason. I think it was because I was a fresh graduate who had only worked for less than 3 months.

Then, I applied the good and reliable Public Bank Visa Electron Debit Card and use it until now, mostly for online transactions (used once for my Apple iBook purchase).

However, debit card is not widely accepted as credit card. Many off-line merchants accept credit card only. I had started thinking to get a credit card as a backup. My friend came at the right time.

How will I use the PB Visa Gold Credit Card?

Basically, the credit card is my backup card. For online transaction, I will try to make payments with PayPal or debit card first, then use credit card if they are not accepted.

With the credit card, I do not need to bring stacks of notes along when I travel. It is more convenient and safe (or dangerous?).

Oh, I will apply a supplementary card for my parents too.

My two cents

With a credit card, it is easier to spend more money. It is convenience but dangerous at the same time. Credit card is a financial tool. Use it smart and carefully. Do not let it controls you and end up with a bankruptcy.

credit card, PB, public bank, visa

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Stella Sabian

you said that right, a credit card is a financial tool, not an entertainment and not even a source of those fictional greatest profits... oh well maybe not fictional really, but still the major assignment of a credit card is not here, since it helps people to manage their finances.

KCLau

proper use of credit will definitely make you richer. You can use it to pay all your fix monthly bill such as phone, electricity, insurance premium etc .. without actually fork out money. If your credit card statement date is on the 1st day of the month, use it on that day and you will have a total of 50 days to come out with the money without interest charge.

If your Public Mutual unit trust fund is giving you a 12% return, you can use the money for investment. It equals to 1.64% return for 50 days investment. This is just an analogy. Doesn't it make sense? It seems that you have extra cash in the bank if you use credit card instead of debit card.

Notty Girl

Actually fraud is happening everywhere & anytime, just keep track your statement for any unusual item or the so call "errors"... Be a smart consumer ;) Bank is the one who make money by dono how....

NEWSiness

I think you can apply for Platinum Card base on your blogging income..:)

HORNY ANG MOH

Hallo! Congratulation! Wellcum to the world of 'elite'! Have a nice weekend!

LcF

seems like Malaysia STILL has a lot of credit card frauds.

Mr. Bear

Bear is way qualified. But what is the point if credit card is insecure??

Debit card is still the best.

N

I wonder what was the gift you got, if any when applying for the card... if none, you should ask your entrepreneurial friend for a treat... ;)

liciece

i have credit cards both from Hong leong and HSBC...several weeks ago Hong Leong bank called me to inform my card was fraudulent used in somewhere which their officer had been monitoring.And at the same time they had terminated my card and replace a new one for me...after receiving the card statement,there was no special payments...so i think Hong Leong is quite good on that matter...

HSBC,on the other way,is not as good as I thought...especially for its customer service...bad tones...so i just let my HSBC credit card sleeping in my wallet...aiks...

strawroot

when are u buying me a dinner? :P

Exif: now u got the phobia?

Wahlau.NET

haha...tangkap nama orang itu la

Exif

Someone used my credit card to purchase air ticket from KL to Penang but my credit card was always with me. The card contained all my details, except the name was not mine. I traced the person to Carrefour, KL. Then I made a police report. The chief inspector said, "Awak nak saya tangkap siapa? Ini bank punya pasal". I reported to the bank and got the card terminated. The bank offered to replace my card. I declined.

affuan

Debit card is the best, YEAH!

Notty Girl

Aiseh.... then how about my supplementary card? :P

Wahlau.NET

there is terms to waive the annual fee...like UOB is spend 6 transaction per year for the platinum card to be waived

Colin Charles

So, RM10,000 in a mutual fund is all you need? Impressive. No asking you for Borang J (or whatever the hell the income tax form is)

Does the credit card also have online banking access (i.e. can you see the statement online, and obviously debit to make payments for the card, online)?

michaelfoo

In my opinion, you should use your PB credit card more often because if you use it for more than RM3k a year, you get the renewal fee waived. Otherwise you need to pay for the card every year, which is not worth it.

Anyway, congratulations! :)

Teh Theng Heng

Use it wisely. :P Think before you buy ya.

nocturnale

LiewCF, the annual fee is negotiable. There is a credit officer who scrutinizes closely your credit history as you spend. If your credit card expenses are consistently paid on time and you have very frequent transactions using your credit card, you can negotiate to have your annual fee nulled for the very reason you have been a financially reliable and trustworthy client. It's not hard and fixed rules. It's just business.

bob goh

Yeah..it is much convenient sometime with a credit card. It is very useful in the case of emergency.

Although I have been working for the past 12 years...I still got rejected by local bank here in New Zealand when applying credit card. May be they are a bit kiasu when approving application from new migrant.