Chapter 6: Credit Card

"Hello. I am calling from HSBC Bank. Is this Mr Wong?"
"Yes. I am. Anything I can do for you?"


"We would like to offer you a credit card -Visa card. These few days, we will send a letter to your home address and you can come and verify yourself after you have received the letter."

For the first time in my whole lifetime, I never have a credit card. I do not know what to do about it. Therefore, I called many people for their advice.

Some said, "Actually, credit card is quite good for some situations. However, do not always use the credit cards for purchasing items. Or else you will be in full of unnecessary debts. Having a credit card is not a bad choice. Keep it for future purposes. It will be very handy sometimes."

Some said, "Well, when you need it, then use it. When you do not need it, never use it."

Some said, "Once you got credit card, you will need to pay annual fee and some sort of payment for the continuing of credit card usage or duration.You may need to find out how to waive the payment and try to get it as low cost as possible. Hence you will not be in trouble of having all sorts of ridiculous payments. Credit cards are quite useful nowadays. You must use it in a right way."

Lastly, I called my brother Gary for advice. He said, "Never apply for any credit card. Never accept the offer from any bank regarding to credit card. Credit card is "debt" card with high interest. If you do not pay by this month, they will continue to add high interest every month unless you manage to pay off every bill."

"People said it could be handy in doing some situations." I replied.

"The banks nowadays are having a strong competition in demanding the customers to apply credit cards. They will definitely offer every customer for applying credit card. During our grandfathers' time, the banks only offer the wealthy men to have credit cards. Right now in this generation, it is different. They offer everyone including the poor. Rich men use more, they pay more interest; poor men use less, the banks still earn their interest. You know what? One of the successful men in this world teaches us one thing - never apply any credit card. He is a millionaire, yet he has no single credit card. He says credit cards only collect debts for you. Credit cards never earn money for you. When time moves on, you will collect whole piles of unwanted debts which most of them are INTERESTS."

I was stunned. He continued, "Only by investments, you can succeed. This is what that millionaire says. Therefore, I also do the same thing. I used to have two credit cards. And it is true. I always have all sorts of unwanted payments to continue the usage. I seldom use. I remember I used once or twice for my transactions. Guess what? I pay 16% of interest for purchasing some items only. 16% interest! This is ridiculously HIGH! Why let the bank earn your hard-earned money? In the end, I cancel both my credit card. What we can do right now is Debit card. Debit card is so much better. You can manage your own money. It is because Debit cards depend on the amount of saving you have. Do you have one?"

"Yes, I got Maybank Debit Visa Card."
"Then that is good enough. Listen to me. Never apply for Credit card. Even when you succeed in life, getting richer and richer, no credit card. Then you will always live in wealth and not debt."

At night, my dear had dinner with me. I also shared with her about the Credit card. She answered, "Never apply for Credit card, because it is a "debt" card with high interest."   

Proverbs 13:10
"Where there is strife, there is pride, but wisdom is found in those who take advice."