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.

I guess, I have just passed another hurdle of establishing my credit rating and one step closer to achieving financial freedom.

However, I need to remind myself that a great deal of responsibility comes with a credit card. That little plastic thing has the power to destroy one’s life. Getting into mountains of debt by way of credit card is like a cyanide pill to your journey towards financial freedom.

I reckon, a couple of simple rules should be put to place.

RULE 1: Leave the credit card at home. Don’t put it in my wallet. Only use it occassionally. Perhaps putting it in a container of water and freeze it in the freezer? (A suggestion from a personal finance book)

RULE 2: Never ever use the credit card if I bloody well know I won’t be able to pay off the full amount when the statement arrives.

Anyway, for those of you out there, do share your experience of owning your first set of credit cards in the comments section below.


Disclaimer: This article is not a specific nor general advice on managing or investing your money. This article does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs.

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