Maybank Sony Credit Card: The Experience

So, how does it feel to possess a Maybank credit card in the past few weeks?

I realised that Maybank gives out Treat Points mostly for credit card usage, and not so much for the Visa Debit Card, which is 1 point for every RM3 spent. As it is so, somehow I have succumbed to what every typical person in malaysia who owns a credit card does. My Visa Debit has since been placed onto the shelf to rust.

Personally, I feel it is safer to use a credit card than a debit card, as consumers can always apply for a CHARGEBACK, but difficult in the case of a debit, or ATM card. Chargeback is the case where consumers may feel that they may not have liked a particular product, or service which they have bought, and decide to forgo it, and hence applies to the bank to reject the purchase/transaction that was made.

Because a Credit Card is basically using the bank's money, and is a loan from the bank's funds, at most times, they are more than willing to reverse the transaction. However, if it is the customer's own money from his savings, or current account, at most times, the bank may still perform the chargeback, however taking a longer period to do so, as it is not really their money.

As my credit card is linked to my account (which I can quickly scan through the amount that I owe the bank), it is easy for me to assign the portion of the amount due so that I would not overspend.

In order to not overspend, I have created psychological barriers that will intentionally present my account as one that is under-funded i.e. transferring it into a Term Deposit account away from harm's reach!

Pyschologically, it serves to deter me from over-spending when I go out.

I hope it works in the long run.

WHAT DO YOU THINK? DO YOU AGREE WITH ME?