Have you decided to apply for the best credit card to pay the insurance premium? This is good. Without a doubt, these cards are a useful and convenient way to pay for services in everyday life. This gives you financial flexibility if used wisely. It can be used for daily shopping, business, for solving debt problems and even for charitable purposes. It can also be used abroad in foreign currency using online media.
But before applying the best credit card to pay an insurance premium, you need to consider some factors, especially if you live in Malaysia. Since Malaysia has one of the most competitive credit card markets in the world, finding the right card that best suits your needs can take a long time. So you should keep in mind some special tips when choosing the best credit card to pay the insurance premium. The information policy available for each credit card can also serve as a guide for comparing different cards.
1- Human condition
The choice of the best credit card to pay insurance premium depends on individual status. This means whether he or she is a student, businessman, middle-class person, retired or widow. Different types are adapted to different people. The best credit card to pay insurance premium is available to all persons over the age of 18, while a premium credit card offers a relatively higher credit with lower interest rates and some additional benefits. Thus, you can choose the best credit card to pay insurance premium according to your priorities.
2- Request Reason
Why do you request the best credit card to pay the insurance premium? This question is very important. It comes with your financial or business pressure. Do you want to use special offers and incentives available to him, or do you want to use it in emergency situations? If you want to reduce the interest on other existing credit cards by transferring the balance or if you want to donate to charity programs. Ask yourself these questions before requesting a card. If you can cancel an invoice completely every month, the annual fee and the duration of the interest-free period are more important factors than the interest rate. But if you want some cash advances to cope with the financial burden, you should consider the rates for cash advances and the corresponding interest rate (higher for cash advances).
3- Interest rates and interest-free period
You should have complete information about interest rates, as well as additional information about the duration of the interest-free period, the method of calculating interest, the introductory offer of low-interest rates and APR. APR is the annual interest rate that expresses the cost of using the best credit card to pay the insurance premium. Interest rates can also be increased or decreased over time. The monthly statement shows the current interest rate for the respective card. In the case of an increase in the interest rate, a preliminary warning is provided, and in the case of a decrease in the interest rate, the client is informed within thirty days.
4- Awards and incentives
Rewards and incentives can also be another attraction for requesting the best credit card to pay the insurance premium. Includes reimbursement of cash, voucher plans, promised price, travel insurance and purchase insurance, etc. In the cash back offer, the minimum cash percentage is refunded when you spend a certain amount. In voucher schemes, you get vouchers or a certain amount of points that can be redeemed for future rewards. Covering the price promise guarantees a refund in case of a difference in prices, if you bought a product at a higher price, and then found it at a lower price elsewhere. Thanks to travel insurance, you will find help in case of flight delays, baggage loss and injuries during the trip. While purchase protection insurance covers purchases in the event of losses or damages for a certain period of time.
5- Payment structure or refund policy
The payment structure is also very important when a final decision is made on this issue. You must be fully aware of the specific ways to pay the balance on your credit card account. Various forms of payment include a cash payment, use of checks or debit cards, direct debit, banking by phone or the Internet, etc. Most companies set a minimum monthly percentage of the total balance you must pay. This percentage can be a fixed amount or from 2% to 4% of the total balance. Knowledge of the payment structure is very important, since it is not free money, and you have to pay it using a specific procedure to avoid any complexity.