Credit cards are dangerous tools. They allow you to pay for things at a later time but only a month later. When they say minimum payment, that will free you from the late payment charge, not the interests that will be added to the outstanding amount.
Think that's where most ppl have fallen. I have almost fallen. Luckily, talking to Seagull and Slasher made me go back and read the fine print. Then I realised that I have to pay up 2000 on that date due. Still manageable, but it happens on my payday. Payment through axis machine will take 3 days. By then, the cc would have happily piled up interest on my account, negating all the rebates that I would have accumulated.
So I called up Uob to change my billing cycle. And I started out early to draw CASH from my salary account and deposit CASH into the UOB cash deposit, selecting credit card payment. Nice of them to add this feature to the machine. Hopefully this is the last time I have to make cc payment this way.
Seagull suggested that I get the Manhattan card. Looked through he card, in order to get the 5% rebate, i'll need to spend 3000 each month, calculated quarterly. Tempted but might be stupid for me. I don't even get 3000 a month. How to spend that amount?
Think i'll stick to the current status til further changes.
Made a big order of LEGO again. Think this will sell well as its an exclusive set. Good for parts. Good for selling minifig.
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