Credit Cards: Where shall I begin? (A rough guide to credit cards from a non-expert)

Sometimes, it’s hard to understand what’s going on with credit cards. A single bank can come up with many different types of credit cards. All with individual features and benefits (and pitfalls as well!).

Let’s have a brief look at some of the different features of credit cards. Please take note that I’m writing based on my experience and past readings. So, if you notice any inaccuracies or you’d like to add some points, do share your thoughts as well.

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The dangers of a credit card (A look into the disadvantages/downsides)

Like I said in a previous post , it comes with great responsibility to have a credit card.

There are a number of dangers with owning credit cards. Some of them are:

1. You might get yourself in a mountain of debt. If you keep on spending and only pay the minimum amount every month, it’s as if your debt becomes indefinite. Default the payments and you might go bankrupt.

3. Credit card interest rates are the highest. It’s not a cheap debt.

4. Sometimes, it’s hard to stop when you gain momentum in spending, thus leading you to spend up till a point of not being unable to pay.

5. Fraud. Somebody could steal your credit card details and you won’t even know until it’s too late.

6. The perks and rewards that come with the credit card can tempt you to spend more. Often, credit cards reward you by spending more (accumulate points, gifts, and etc.) and this might lead you to do the wrong thing, i.e. spend more.

7. As mentioned again and again, credit card = BAD DEBT.

8. You run the risk of not being able to track your spending. The next thing you know, you are served with a statement to pay by the end of the month, and you realised “Shit, I can’t afford this!”.

As usual, share your thoughts below.

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I’ll be getting my first ever credit card from Public Bank

Due to my being an investor with Public Mutual, I was offered by Public Bank to apply for a credit card. I see some good in owning a credit, so I decided to do so. Read here.

My application has been approved and as of now, I’m waiting for it to arrive.

This will be the first time ever for me to be a Principal Credit Card holder.

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Why do I need a credit card?

Having credit cards in my name is very dangerous. I’m sure a lot of you would agree with me.

But why would I consider having a credit card in the first place? Well, based on what I read and what I know, there are a few reasons actually.
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ANDA Coin, Note & Stamp Show 2008: Postage Stamps Acquisitions (Penny Black, Sarawak, and Malaya Straits Settlement)

As promised, here are some of the items I purchased from the ANDA Coin, Note & Stamp Show.

This entry will be dedicated to stamps.

First up, the word’s first adhesive postage stamp called the Penny Black. It was issued on the 1st of May 1840. So, that makes the stamp about 168 years old! I’ve been wanting to get the Penny Black for so long now and finally, I own one. Nice piece eh?

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Thomas and Friends Tomy Trains Collection

One thing about me is that I like to collect things. I’m not a hoarder though. Hehe. Some of my collections are stamps, coins and banknotes (collection still in its infancy), Hot Wheels cars (also in its infancy), books, and 1:500 scale diecast model aircrafts.

In this post however, I’ll dedicate to my Thomas and Friends collection. This collection was started pretty recently after a birthday present by my other half. I now have about a few Thomas and Friends set, which I intend to assemble all together, once I move to a bigger place!

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Collecting Coins and Banknotes for Investment Purposes?

It has been a while since I last wrote a post. Minus the Van Tharp article series, which were all posted automatically, it has been about a week since I last wrote anything.

Today, let’s talk about Coins and Banknotes. Is there a way how one can profit from them? Apart from the usual FOREX trading, I believe that it is possible to profit from collecting coins and banknotes. Old coins and banknotes as well as the new ones. In fact, history tells us that is indeed possible. Returns of roughly around 13% per annum. Now, that’s not too bad at all! Of course, as with all other investment vehicles, future performance are never guaranteed.

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