Tuesday, February 15, 2011

Which credit card to use?

Credit card has function more than a payment method. It is a way to save (or even make extra income).

Banks are now offering very attractive CASH BACK on cards, why don't we make use of it to save time and money.

I am comparing 3 credit cards offering CASH BACK, if you know any BETTER cards, please share with "comment".

Card # 1 - OCBC Titanium (Click HERE to apply)
Card # 2 - Citibank Platinum Cash Back
Card # 3 - OCBC Great Eastern Platinum (Update: To compare OCBC Great Eastern Titanium as Platinum card's entry level is too high and not comparable with the other two cards)

Click here for the table.

Summary
  1. OCBC Titanum is a MUST HAVE Card for almost everyone (lowest entry with only RM36,000 annual income)
  2. If you have higher spending on credit card, you have to add CITIBANK CASH BACK as OCBC Titanium only gives RM50 cash back per month.
  3. If you have much higher spending (over RM10,000) per month and is a policyholder of Great Eastern Policy, you should have OCBC Great Eastern Titanium.
  4. The higher income you are, the better deal you will have. Fair or unfair? For me, it is a reward for people who work hard to be there. (and also paying more taxes)