New Year, new habits..?

It’s time of the year again, where I had to plan & budget for the year end.

With the New Year of 2011 looming close, I’ve got some habits to kick & I have identified new ones to adopt. Yeah, I guess you could call them new year resolutions of sorts..
For starters, I’m already on the ‘improving” my personality stage, and it’s taking quite a lot of work just trying to manage my temper. I can’t imagine how challenging it will be as I get started on the other aspects. LOL!

Well, I hope changing my spending habits is going to be easier.
My latest credit bill is already overdue and HSBC sent me 2 reminders already.. *gulps*

The amount is actually considered one of the lowest this year as I have curbed my spending lately. Had to make sure I have enough $ for Unka’s birthday gift 😉 .

I’m also looking at buying a Panasonic GF1 soon. You guys can look forward to sharp, VIVID pics on my blog!

But all that translates to financial resources. At 4-digits, no less! For such large amounts, I would use credit cards to finance my purchases & then clear the amount at the end of the month. Hopefully I get a 30 days extra (depending on my billing cycle) before I have to clear the outstanding amount.

And at the rate of 18% per annum, I can’t afford to delay my payments.Imagine paying an extra 18% on top of the amount I owe, when my outstanding bills are at 4-digits every month! It’s akin to giving the bank free cash!

Ever since the implementation of RM50/card annual fee, I gave up my RHB, Public Bank, 2 UOB Lady and CIMB credit cards.
I have cut them up and now I’m left with these 2.

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HSBC because it is an international bank and it suits my “syiok go travel” lifestyle & Maybank cos it’s the one with the most branches! Plus I got a Maybank account so I could just transfer payment from my savings to my credit card.
Yup, extreme convenience is what I look for in any of my banking needs.

Just last week I was told that American Express Gold Card could be a better replacement for my credit woes.

Certain points to consider:
* 9% p.a only!
All you have to do is promptly settle your minimum payment of 5% or a minimum of RM25 from your outstanding amount.

* All credit cards gave points based on the amount you spent. The Amex Gold Card multiples by five (5x) in membership rewards in petrol, grocery, bookstores, cinemas, enroll express autopay on telco bills. This is good comparatively to the others that I know of, which only offers up to 2x membership rewards, at the very most

*Pay no interest on all your retail purchases up to 20 days (regardless of your bill cycle) from the date of your monthly billing statement (this is pretty standard I know BUTTTTT.. – note on the next point)

* Transfer your outstanding balance from other credit cards to your American Express Gold Credit Card to enjoy substantial savings on interest charges AND by substantial savings, it’s 0% Balance Transfer for 12 months til 30th April 2011! (Good deal, me thinks…yea?)

* E-statement – View and download your statement via Maybank2u.com Online Banking, which is perfect since I got a maybank account already.

So what do you think? Amex Gold card for me? 😉

You want an AMEX Gold as well? Details here!