Yes I really did just type that out. Credit Cards are your friends. Working in the banking industry, I know for a fact, many people in Brunei are quite scared of credit cards, and see it as nothing less than evil. Well, yes that can be true if you do not understand the way it works.

If you do, it’s one of the best ways to save money.

Credit card companies such as Visa and Mastercard work very very hard with Banks that carry their brand so that you would use their credit cards. Discounts can go up to 30% especially for food promotions at awesome restaurants and sometimes just flashing your card can earn u some freebies.

Here is an example:

– Few weeks ago, I stocked up on some toiletries from Guardian and swiped using my trusty old Visa. Turns out, any spendings above $30 swiped using a Visa (regardless of Bank), will score a recyclable bag! My bill totalled went up to about $60, so I eksen pay the first $30 first and got one bag and paid a second time for a second bag for the other half of the bill.

Ladies and gentlemen, this is called KIASU to the max.

Another reason why credit cards are your friend is a magical item called REWARD POINTS THAT NEVER EXPIRE.

Reward points on my credit card translates to money. It’s essentially a cashback. As you all know, most credit cards charge an annual fee ranging from $19 to 100 or more (depending on your tier). The beauty of reward points is that, u can accumulate them and use it to pay for your annual fee! Meaning essentially, you pay nothing for your credit card facility! I love the rewards program.

Then there are the other obvious benefits:

• No need to carry cash and be worried of leaving your bag ampai ampai somewhere.
• Easy to buy tickets online and pay for hotels (and for some cards, hotels will even upgrade u for free when u show ur card)
• Secure online purchases! If your purchases don’t arrive/something wrong with the item when it arrives and your stupid vendor won’t return your money, u can just submit a dispute with the Bank!!!
• CONVENIENCE: Easy to track all your spendings from the card statements

HOWEVER!

Credit Cards are only your friend when you pay in full, on time, every month! If not, you do not earn any savings from your purchases. But rather, stuck paying interest, and with Banks charging sky high interest rates, bill after bill, you will end up in debilitating debt!

So if you have a credit card, don’t abandon all you know about spending wisely. Use it as your tool to earn more savings, whether it be from discounts, from rewards points, from promotions. Remember that it is you who control your card, the card doesn’t control you.

Demand info from your bank! Always check that your vendors are using the terminal of your issuing bank (merchants earn MORE points!). Spend what you need. Always check your statements. And pay your bill IN FULL on time.

That’s all! So remember, credit cards are your friends. 🙂

Note: I am not paid by any bank to write this article. In case you’re wondering! Hehe.