Question. Is Credit Card Necessary?

blue master card on denim pocket

This was the same question I asked myself before even applying for a credit card. The thought of spending on borrowed money is exciting, but it’s also good to understand the whys and motives behind it.

Before applying for a credit card, I think we need to ask ourselves, why do we need a credit card and what are the requirements?

Annual Income

Firstly, what is our annual income? According to Bank Negara Malaysia guideline, for new credit card applicants, the minimum annual income has to be RM24,000 per annum or which works out to RM2000 per month.


Secondly, is our lifestyle. So throughout the day and the week, we spend a lot on grocery, petrol, or travel, whether it’s domestically or internationally. Also, we buy a lot of things online.
With a credit card, we can manage our cash flow and that is by using it wisely, collect points, and redeem additional benefits.

So what you can do is go to RinggitPlus here (or you can click the image above). Go to the part where it says Credit Cards and you can see all the different credit cards to apply for.

If you want to browse a credit card according to your usage, there’s sign up offers, no annual fee, cashback, rewards, petrol, travel, islamic, and so forth.

For more information and to familiarize yourself with the credit card terms and jargons, you can watch a video below:

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