June was the start of another round of MCO in Malaysia. It happen to be the same time Citibank and Comparehero together launch a great campaign for new user.
Normally I wouldn’t bother to apply a new card, because there’s a lot of catch. Free gift come with a lot of hidden terms and condition. Some sample of the popular hidden terms are:
- You must swipe total amount up to RM2000
- It is a lucky draw, you stand a chance to win, you are randomly selected
- The gift are based on first come first serve
- The credit card have annual fee
- Cashback offer with spending limit capping
- Reload credit must use one off, the remaining unused amount will burn.
Why I decided to get Citi card?
However, this offer attracted me. Guaranteed RM600 cash, hmm… either use to buy food for family or reload to touch ‘n Go to use for necessity. So I go ahead to read their terms and conditions pdf to seek for hidden terms, because it’s like too good to be true. Upon further study, unfortunately, I just couldn’t find any hidden terms 🙁
The black and white stated I only need to swipe 8 times for online purchases in any amount within 1 month period. This means I can even top up RM10 at Touch n ‘Go for multiple times… to fulfill requirement of this campaign…lol. Anyway, I use it to reload Touch ‘n Go and buy thing at Shopee.
Finally, there are some credit card without charging annual fee. So I don’t have to fork out any yearly fees. All these points make me decided to proceed to apply 🙂
My experience with Citibank Card
After card approved, I just do my purchase as usual. I notice the Citibank Mobile App Credit Card dashboard interface is is very user friendly. You can view the card statement and transactions via mobile app. They have push notification 5 days ahead to remind you when your statement balance is near to due date. Their mobile app allow you to view instantly on the amount charged to your card. The outstanding balance also show up instantly. They also have a freeze card button, if anytime you feel like want to pause it temporary, you can do so. Overall, my experience with their mobile app is great.
Of course, at the same time their telemarketer team will start to call you to offer this and that. If there’s any good deal, why not?
After waiting for 2 months, finally I received Congratulations Email from CompareHero
So I key in the credit pin to reload. After reload, the amount will instantly appear at Amount balance.
Here's How I use this small bonus to invest
I decided to take out this bonus to invest in high quality US fractional shares. Instead of spending it at something that will drop in future value. I invest it into great company that doing great net profit in future. Think of it, the money that you successfully saved is already consider an earning. Then, invest into right place and possibly get additional100%-300% return in 10 years time. The path to financial freedom start from the basic foundation, that is the way you manage money.
I proceed to the withdrawal. In order to withdraw to bank, I have to first withdraw this credit from Touch ‘n Go Balance into Go+. Then from Go+ cash out to personal bank account. The money arrive in my bank account in 1 business day.
* When you perform withdraw, make sure the portion of money withdraw is not from Credit card top up. There has been multiple case where people trying to take advantage of Touch n’ Go by top up via credit card, then withdraw cash to bank. These member are receiving warning and some of them account are banned.
- Receive cash is better than receive merchandise that I might not need to use
- Merchandise gift every time turning hand, the value normally will drop 20-30%.
- Cash gift is different, I can use to buy necessity, pay bills.
- I can as well cash out to invest in high quality shares at fractional of its price.