My friend taught me how to maximise the credit card usage. As we know, bank in Malaysia allow 20 days interest free periods for purchase. The trick is very simple. You need to know what is the posting date for your credit card statement.
Assuming posting date is first of every month.
So assuming you are using credit card to buy a product on the first of April (let assume)
Because on the date, bank already send statement, the next statement will be on May
On first of May, bank send statement, there will be 20 days grace period to pay the bill.
So your exact date is on the 20 May to pay the bill
THERE YOU MAKE 50 DAYS INTEREST FREE PURCHASE.
But be careful. Learn to manage your finance and this is just short term method to buy time.
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2 comments:
Totally agreed. But somehow rather, not so easy to monitor if u have alots of credit cards on hand! say 5 or 8 or 10, can u really remember all the cards' posting date/ statement date? NO, right?
Anyway, it's true that u need to spend wisely!
THINK TWICE BEFORE YOU SPEND! not think twice to choose which cards to use... :-)
Well, think twice before using card and make sure you can manage it before you use this method to maximise your credit facilities.
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