School holidays are just around the corner and many parents will be taking their children for vacations. Christmas is just a few weeks away, and that means more money will be spent on gifts for our kids and loved ones. About a month after Christmas, some of us will be celebrating Chinese New Year in January 2012 i.e. more stuff to buy. Many of us will be spending money with our credit cards and hopefully, come February 2012, we will have money in hand to settle our bills in full.
Our flip-flop government is abolishing teaching of science and math in English (PPSMI) next year onwards for Primary One. It was announced that children who are currently (this year 2011) in Primary One can continue to study science and math in English until SPM. Wait, there's more, the government than said that it depends on the school! Just to proof to you how important the English Language is, we have Al Jazeera and China's CCTV News and CNTV broadcasting news in English 24/7 to the world. And boy, if you watch the debates in English, some of the speakers from China sure put us to shame. I am sure you read, day in day out, in the news that many university graduates are unemployed because they lack basic command of the English Language. Many schools have teachers who are incompetent in English and therefore cannot teach science and math in English, which is our second language! These schools will then revert back to the old failed system that TDM wanted to change for the betterment of the nation.
Now, you guys must be wondering what the hell the two paragraphs above have got to do with credit cards. Well, for those lucky parents whose kids' schools will still continue to teach science and math in English, nothing, since the kids education is FREE.
But, what if your kids' schools decide not to teach science and math in English? Then you've got a headache because you have to consider transferring your kids to private schools which do. And for those having a child starting year one next year, if you want your kid to be taught in English, one alternative is to send him/her to an "International School". That means parents' "investment" in their children's education would have increased tremendously even prior to them entering college.
So on top of the expenses mentioned in the first paragraph of this article, many parents' expenses will skyrocket in January 2012 if they were to send their children to private primary school, secondary school, college and university.
Most private colleges and universities accept credit cards but not the American Express (some US colleges do) for tuition fees. The tuition fee per semester can be more than RM10,000 for foundation and matriculation courses. And for a degree, the tuition fees can go up to RM100K or more per year. Some private primary and secondary schools also accept credit cards. And if your child is enrolled in an International School, the fees can be even higher than overseas matriculation courses!
So, the purpose of today's article is to see how we can optimize the rewards we gain from credit cards when we pay for our children's education fees. There are two ways you can benefit from your child's education fee:
1. Which card gives you the best returns for your child's education tuition fee; and
2. How to make extra pocket money from education bills by converting to installment plans or balance transfers.
The best is to combined both the above and get maximum returns.
Before you continue reading the following, I suggest you first click here and read my article Earn Pocket Money With Credit Cards so that you get a general idea of what I am writing below.
WHICH CARD GIVES YOU THE BEST RETURNS FOR YOUR CHILD'S EDUCATION TUITION FEE.
It depends on what you want - you want cash back or reward points or even Enrich Miles (just learned about Enrich when I wrote my article on Malaysia Premier Credit Cards - Which Is The Best For You?)
Cash Back Card for Primary, Secondary, College and University Tuition Fees
First, I will tell you what cash back cards not to use. The cash back cards which will benefit you less when paying for local education bills are cards that earn you 0.5% cash back or less i.e. that means most cash back credit cards. The good news is there are a few cash back card that pays you more than 0.5% for local education bills. The cards are:
1. Alliance Platinum Credit Card for bills from RM2K to RM5K only. This card earns you minimum 0.6% (for RM1- RM500 spending) PLUS you also earn evergreen points for all transactions (except Petrol) and the cash back can go up to 2%. See below and remember you get additional 1 reward point for every RM1 spent.
2. Alliance Premier Debit Card. This card earns you 2% cash back (capped at RM180 i.e. for spending up to RM9K) for all types of transactions. However this card is issued only with Alliance Privilege Banking. For general combined monthly transactions up to RM9K/month other than petrol, groceries, utilities and telco bills, the Alliance Premier Debit card with 2% cash back gives you the best returns and in my opinion the best card to use in Malaysia at places that do not accept the American Express card or offer discount with other credit cards.
3. OCBC Great Eastern Titanium and Platinum Credit Card earns you 1.5% cash back for Education and Medical Bills but capped at RM200/month and RM250/month respectively. If you have Great Eastern Insurance Policies, more reason to get this card and you will also be entitled to 2% cash back.
Let's say you use the card purely for Education Bills only, with cash back of RM200 and RM250 monthly cap, that means you can charge up to RM13,333 (Titanium card) and RM16,666 (Platinum) per month for education bills :)
The OCBC Great Eastern Platinum credit card can even earn up to 3% cash back for amount above RM20K. See below table.
4. HLB Essential which earns you unlimited 1% cash back. Charge RM5K and you will earn RM50, which means that above mentioned 3 cards are better. But, if your child's tuition fee is RM20K and above per semester, then this card is good. Now, for example, your child's tuition fee is RM40K per semester, to maximize your cash back, split the bill into separate payments. I know most of you guys only carry one or two cards; but, let me show you the difference of having all four cards above.
Tuition Fee RM40K/semester.
If you only have HLB Essential, you will earn RM400 from a single transaction.
What if you have all four cards:
First RM9K, pay with Alliance Premier Debit Card and earn RM180.
Then pay RM5K with Alliance Platinum Credit Card and earn RM68 (not including points).
Then pay RM16,000 with OCBC Great Eastern Platinum and earn RM240.
Balance RM16K pay with HLB Essential and earn RM160.
Total cash rebate RM642 or RM242 more than if you were to pay using only HLB Essential credit card. Who will give you RM242 "buta" money?
From two semesters tuition fees, you can earn "buta money" close to RM500. It is like you having RM12,500 deposited into 12 months FD with 4% interest just to earn RM500. (check out my Fixed Deposit Page to see latest promotions on interest rates).
For my children's school fees, what I do is I use both my Alliance cards mentioned above. Lets's say the tuition fee comes up to RM12K in a single bill, I will swipe RM9K with my Alliance Premier Debit Card and earn 2% cash back (RM180) immediately and the rest with my Alliance Platinum credit card where I will earn cash back of more than 0.6% and earn points too (so you can say I will earn minimum 1%). And if you are shy (or not as thick skin as me) to use more than 1 card, then it's your lost, hahaha.
SCB Business Platinum also earns you 0.5% plus reward points. But recently they wanted to reduce the cash back to 0.3%; but then announced that the cash back remains at 0.5%. So, if you ask me, there is a risk in getting this card as you will be stuck with the reward points and can't accumulate more if you stop using it when they do change the cash back to 0.3%. Just get the HLB Essential and earn 1% cash back.
(Article by My Credit Cards: http://creditcardsmalaysia.blogspot.com/ )
If your child educations fees and other expenses do total up to RM68K or more per year, you may want to consider getting the Hong Leong Bank Fortune Card. This card earns you 1% cash back but capped at RM50 per month; however, if you spend less than RM1K/month (or RM2K? - you got to confirm with HLB) then you earn nothing for that month! But, if you do spend RM68K to RM107,999 per year you will get a annual bonus cash back of RM880. In order words, if you spend between RM88,001 to RM107,999 your bonus cash back will be less than 1%. And if you spend above RM108,000 per year with the card, you'll be entitled to annual bonus of RM1,800, or in other words, if you spend above RM180,001, the cash back from the annual bonus will be less than 1%. Yah, I know, damn complicated for a credit card; but if you know exactly how much you going to spend, this card is worthwhile to look into. Click here to read my article on HLB Fortune Cash Back Card.
Reward Points for Education Bills
On the other hand, some of you guys may prefer reward points instead of cash back. Most cards only reward you 1 point for RM1 spent locally. So which card earns you maximum points for Education bills (and other general transactions too)?
1. HLB Visa Signature - 1.5X points for every RM1 local spending.
2. Maybank Visa Infinite - 2X points for every RM1 local spending.
3. If you can pay with AMEX, then use Maybankard 2 Amex and earn 5X Treats Points which also beats any of the cash back cards mentioned above.
Credit Cards For Overseas College and University Education Bills
If your child is doing a matriculation course or pursuing a Bachelor's Degree abroad, before you use your credit card, please check if the college or university imposes a surcharge. If it does, most probably it will be cheaper if you just transfer funds to the college or your kids' bank accounts or pay by bank draft. In additional to the cash back card mentioned above which earns you more than 0.5% cash back, here are the cards which reward you more for overseas transactions.
1. Maybank Visa Infinite - 5X Treats Points, click here to my full and complete review of the Maybankard Visa Infinite Benefits.
2. Standard Charted Visa Infnite - 5X Choice Points, click here to read my article on the card.
3. HLB Visa Signature - 2X points for every RM1 and extra 1% cash back capped at RM500/year. Click here to read more about HLB VisaSignature.
4. CIMB Visa Signature and World MasterCard - 2X points.
5. Maybank Platinum - 2X Treats Points (not Maybankard 2 Platinum).
6. Alliance Platinum Credit Card - 2X Points plus cash back. (take note - from my experience, for overseas transactions, it is cheaper to use the MasterCard instead of Visa for Alliance case).
7. CIMB Visa Infinite - 1% cash back.
From the above cards mentioned, I would recommend Maybank credit cards as their overseas admin rate is the lowest amongst other credit cards issued by other banks. Other cards may also reward you more points for overseas transactions and some of them are not standard card features but promotions. Click here to read my article on overseas transactions rates with different credit cards.
Cards for Enrich Miles
Well, if your kids are studying abroad, then wouldn't it be great if you can get free air tickets and go visit them. To read which card to use for local spending for Enrich miles, click here to read my article Malaysia Most Exclusive and Prestigious Best Premier Credit Cards. Then click on the table which I have prepared to compare Citibank PremierMiles versus Standard Chartered Visa Infinite versus CIMB Enrich World MasterCard versus Maybank Visa Infinite versus Maybank World MasterCard and others.
HOW TO MAKE EXTRA POCKET MONEY FROM EDUCATION BILLS TRANSACTED WITH CREDIT CARDS
If you had read my article on Earn Pocket Money with Credit Cards which I suggested earlier, you would know by now that you can transfer the amount transacted with your credit cards to another bank's 0% Balance Transfer Plan. And with this, you can deposit the money meant to pay for your kids education bill into Fixed Deposit or Time Deposit and earn some pocket money from the interest. So, you earn twice :) First, you maximize the cash back earned by using the right card and then the second step is to transfer the amount to 0% Balance Transfer plan and earn some extra pocket money from FD. If you have yet to read this said article, it will be beneficial if you do so now. The only thing is we don't know if CIMB, Maybank and Public Bank will extend 0% Balance Transfer Plan for next year. Let's pray they do.
[ Update 20 November 2011 - RHB is now offering 0% 6 Months Balance Transfer until 31 January 2012 - click here to read more on the RHB 0% Balance Transfer ]
INSTALLMENT PLAN FOR EDUCATION BILLS
I started off this article about parents spending money for vacations and festive seasons. Come, first January, we may be tight on cash but still manageable since we have budgeted for the holiday and gifts expenses. However, some of you may have no alternative but to sent your kids to private schools because of last minute changes and have not budgeted for it. And some may have a child entering college or university and are considering taking a loan.
As mentioned earlier, most of the current 0% Balance Transfer plans expire end of this year. So, for those who are tight when wanting to pay for your kids' school fees; the good news is there are several credit cards which allow you to convert Educations bills to 0% installment plans this December 2011 and in January 2012. And for those considering loans for college or university education bills, these are 0% interest free loans for you (for example, useful while you are waiting for EPF to reimburse you). Well, even if you have the cash in hand, you still can make some pocket money with the installment plans by depositing the cash into FD and "slowly" pay of the bills. The cards offering 0% installment plans for Education Bills are:
CIMB Bank credit cards - 0% 10 months education installment plan. Expires on 31 December 2011. Click here to see promo at CIMB site. If you are reading this article after 1 January 2011, please check if CIMB has extended this plan once again. Please note, this plan is not applicable to CIMB Islamic cards.
Maybank - 0% Ezy Pay for selected colleges and universities. Click here to view list.
RHB Bank credit cards - 0% 9 months installment for primary school, secondary school, colleges, universities and professional courses. This plan expires on 31 March 2012. Click here to read my article on RHB credit card promos 2011 - 2012.
AmBank credit cards - 0% 6 and 9 months AmFlexi Pay installment plans. Well, actually this plan is applicable for all types of transactions and expires on 31 January 2011. Click here to read more about it.
Having pointed out the above installment plans, if the banks do extend their 0% Balance Transfer Plans, better you use the card that reward you most and then do balance transfer instead of going with installment plans.
CONCLUSION
Click here to see overseas transaction fee with my Maybank Visa Infinite which earn us 5X Treats Points to find out if is it worthwhile to use the Visa Infinite for your overseas education bills.
Education is getting more expensive and our children's tuition fees are increasing yearly. But with the right credit card, we can actually earn back some money :)
For me personally, I prefer to earn cash back than earning reward points with education bills. But having said this, I would use Maybank Visa Infinite for my childrens' overseas education bills and earn 5X TP, that is if they don't impose any surcharge on top of the tuition fees.
OTHER RELATED POSTS
Want to know how to earn pocket money with credit cards, click here to my my article titled Earn Pocket Money with Credit Cards.
Want to know which is the most Prestigious and Exclusive credit card in Malaysia? Click here to read my article on Premier Credit Cards.
To find the best Platinum credit card for you, click here.
OTHER RELATED POSTS - not related to credit cards!
Click here to read my article on tuition and children at Ringgit Wise Fool.
Click here to read what I think about Moral classes taught in schools.
Click to read my article Grandparents Parents Children
Click here to read my article Children Education Path.
The End
Our flip-flop government is abolishing teaching of science and math in English (PPSMI) next year onwards for Primary One. It was announced that children who are currently (this year 2011) in Primary One can continue to study science and math in English until SPM. Wait, there's more, the government than said that it depends on the school! Just to proof to you how important the English Language is, we have Al Jazeera and China's CCTV News and CNTV broadcasting news in English 24/7 to the world. And boy, if you watch the debates in English, some of the speakers from China sure put us to shame. I am sure you read, day in day out, in the news that many university graduates are unemployed because they lack basic command of the English Language. Many schools have teachers who are incompetent in English and therefore cannot teach science and math in English, which is our second language! These schools will then revert back to the old failed system that TDM wanted to change for the betterment of the nation.
Now, you guys must be wondering what the hell the two paragraphs above have got to do with credit cards. Well, for those lucky parents whose kids' schools will still continue to teach science and math in English, nothing, since the kids education is FREE.
But, what if your kids' schools decide not to teach science and math in English? Then you've got a headache because you have to consider transferring your kids to private schools which do. And for those having a child starting year one next year, if you want your kid to be taught in English, one alternative is to send him/her to an "International School". That means parents' "investment" in their children's education would have increased tremendously even prior to them entering college.
 |
| Cards offering 0% installment for Education Bills |
So on top of the expenses mentioned in the first paragraph of this article, many parents' expenses will skyrocket in January 2012 if they were to send their children to private primary school, secondary school, college and university.
Most private colleges and universities accept credit cards but not the American Express (some US colleges do) for tuition fees. The tuition fee per semester can be more than RM10,000 for foundation and matriculation courses. And for a degree, the tuition fees can go up to RM100K or more per year. Some private primary and secondary schools also accept credit cards. And if your child is enrolled in an International School, the fees can be even higher than overseas matriculation courses!
So, the purpose of today's article is to see how we can optimize the rewards we gain from credit cards when we pay for our children's education fees. There are two ways you can benefit from your child's education fee:
1. Which card gives you the best returns for your child's education tuition fee; and
2. How to make extra pocket money from education bills by converting to installment plans or balance transfers.
The best is to combined both the above and get maximum returns.
Before you continue reading the following, I suggest you first click here and read my article Earn Pocket Money With Credit Cards so that you get a general idea of what I am writing below.
WHICH CARD GIVES YOU THE BEST RETURNS FOR YOUR CHILD'S EDUCATION TUITION FEE.
It depends on what you want - you want cash back or reward points or even Enrich Miles (just learned about Enrich when I wrote my article on Malaysia Premier Credit Cards - Which Is The Best For You?)
Cash Back Card for Primary, Secondary, College and University Tuition Fees
First, I will tell you what cash back cards not to use. The cash back cards which will benefit you less when paying for local education bills are cards that earn you 0.5% cash back or less i.e. that means most cash back credit cards. The good news is there are a few cash back card that pays you more than 0.5% for local education bills. The cards are:
1. Alliance Platinum Credit Card for bills from RM2K to RM5K only. This card earns you minimum 0.6% (for RM1- RM500 spending) PLUS you also earn evergreen points for all transactions (except Petrol) and the cash back can go up to 2%. See below and remember you get additional 1 reward point for every RM1 spent.
2. Alliance Premier Debit Card. This card earns you 2% cash back (capped at RM180 i.e. for spending up to RM9K) for all types of transactions. However this card is issued only with Alliance Privilege Banking. For general combined monthly transactions up to RM9K/month other than petrol, groceries, utilities and telco bills, the Alliance Premier Debit card with 2% cash back gives you the best returns and in my opinion the best card to use in Malaysia at places that do not accept the American Express card or offer discount with other credit cards.
3. OCBC Great Eastern Titanium and Platinum Credit Card earns you 1.5% cash back for Education and Medical Bills but capped at RM200/month and RM250/month respectively. If you have Great Eastern Insurance Policies, more reason to get this card and you will also be entitled to 2% cash back.
Let's say you use the card purely for Education Bills only, with cash back of RM200 and RM250 monthly cap, that means you can charge up to RM13,333 (Titanium card) and RM16,666 (Platinum) per month for education bills :)
The OCBC Great Eastern Platinum credit card can even earn up to 3% cash back for amount above RM20K. See below table.
4. HLB Essential which earns you unlimited 1% cash back. Charge RM5K and you will earn RM50, which means that above mentioned 3 cards are better. But, if your child's tuition fee is RM20K and above per semester, then this card is good. Now, for example, your child's tuition fee is RM40K per semester, to maximize your cash back, split the bill into separate payments. I know most of you guys only carry one or two cards; but, let me show you the difference of having all four cards above.
Tuition Fee RM40K/semester.
If you only have HLB Essential, you will earn RM400 from a single transaction.
What if you have all four cards:
First RM9K, pay with Alliance Premier Debit Card and earn RM180.
Then pay RM5K with Alliance Platinum Credit Card and earn RM68 (not including points).
Then pay RM16,000 with OCBC Great Eastern Platinum and earn RM240.
Balance RM16K pay with HLB Essential and earn RM160.
Total cash rebate RM642 or RM242 more than if you were to pay using only HLB Essential credit card. Who will give you RM242 "buta" money?
From two semesters tuition fees, you can earn "buta money" close to RM500. It is like you having RM12,500 deposited into 12 months FD with 4% interest just to earn RM500. (check out my Fixed Deposit Page to see latest promotions on interest rates).
For my children's school fees, what I do is I use both my Alliance cards mentioned above. Lets's say the tuition fee comes up to RM12K in a single bill, I will swipe RM9K with my Alliance Premier Debit Card and earn 2% cash back (RM180) immediately and the rest with my Alliance Platinum credit card where I will earn cash back of more than 0.6% and earn points too (so you can say I will earn minimum 1%). And if you are shy (or not as thick skin as me) to use more than 1 card, then it's your lost, hahaha.
SCB Business Platinum also earns you 0.5% plus reward points. But recently they wanted to reduce the cash back to 0.3%; but then announced that the cash back remains at 0.5%. So, if you ask me, there is a risk in getting this card as you will be stuck with the reward points and can't accumulate more if you stop using it when they do change the cash back to 0.3%. Just get the HLB Essential and earn 1% cash back.
(Article by My Credit Cards: http://creditcardsmalaysia.blogspot.com/ )
If your child educations fees and other expenses do total up to RM68K or more per year, you may want to consider getting the Hong Leong Bank Fortune Card. This card earns you 1% cash back but capped at RM50 per month; however, if you spend less than RM1K/month (or RM2K? - you got to confirm with HLB) then you earn nothing for that month! But, if you do spend RM68K to RM107,999 per year you will get a annual bonus cash back of RM880. In order words, if you spend between RM88,001 to RM107,999 your bonus cash back will be less than 1%. And if you spend above RM108,000 per year with the card, you'll be entitled to annual bonus of RM1,800, or in other words, if you spend above RM180,001, the cash back from the annual bonus will be less than 1%. Yah, I know, damn complicated for a credit card; but if you know exactly how much you going to spend, this card is worthwhile to look into. Click here to read my article on HLB Fortune Cash Back Card.
Reward Points for Education Bills
On the other hand, some of you guys may prefer reward points instead of cash back. Most cards only reward you 1 point for RM1 spent locally. So which card earns you maximum points for Education bills (and other general transactions too)?
1. HLB Visa Signature - 1.5X points for every RM1 local spending.
2. Maybank Visa Infinite - 2X points for every RM1 local spending.
3. If you can pay with AMEX, then use Maybankard 2 Amex and earn 5X Treats Points which also beats any of the cash back cards mentioned above.
Credit Cards For Overseas College and University Education Bills
If your child is doing a matriculation course or pursuing a Bachelor's Degree abroad, before you use your credit card, please check if the college or university imposes a surcharge. If it does, most probably it will be cheaper if you just transfer funds to the college or your kids' bank accounts or pay by bank draft. In additional to the cash back card mentioned above which earns you more than 0.5% cash back, here are the cards which reward you more for overseas transactions.
1. Maybank Visa Infinite - 5X Treats Points, click here to my full and complete review of the Maybankard Visa Infinite Benefits.
2. Standard Charted Visa Infnite - 5X Choice Points, click here to read my article on the card.
3. HLB Visa Signature - 2X points for every RM1 and extra 1% cash back capped at RM500/year. Click here to read more about HLB VisaSignature.
4. CIMB Visa Signature and World MasterCard - 2X points.
5. Maybank Platinum - 2X Treats Points (not Maybankard 2 Platinum).
6. Alliance Platinum Credit Card - 2X Points plus cash back. (take note - from my experience, for overseas transactions, it is cheaper to use the MasterCard instead of Visa for Alliance case).
7. CIMB Visa Infinite - 1% cash back.
From the above cards mentioned, I would recommend Maybank credit cards as their overseas admin rate is the lowest amongst other credit cards issued by other banks. Other cards may also reward you more points for overseas transactions and some of them are not standard card features but promotions. Click here to read my article on overseas transactions rates with different credit cards.
Cards for Enrich Miles
Well, if your kids are studying abroad, then wouldn't it be great if you can get free air tickets and go visit them. To read which card to use for local spending for Enrich miles, click here to read my article Malaysia Most Exclusive and Prestigious Best Premier Credit Cards. Then click on the table which I have prepared to compare Citibank PremierMiles versus Standard Chartered Visa Infinite versus CIMB Enrich World MasterCard versus Maybank Visa Infinite versus Maybank World MasterCard and others.
HOW TO MAKE EXTRA POCKET MONEY FROM EDUCATION BILLS TRANSACTED WITH CREDIT CARDS
If you had read my article on Earn Pocket Money with Credit Cards which I suggested earlier, you would know by now that you can transfer the amount transacted with your credit cards to another bank's 0% Balance Transfer Plan. And with this, you can deposit the money meant to pay for your kids education bill into Fixed Deposit or Time Deposit and earn some pocket money from the interest. So, you earn twice :) First, you maximize the cash back earned by using the right card and then the second step is to transfer the amount to 0% Balance Transfer plan and earn some extra pocket money from FD. If you have yet to read this said article, it will be beneficial if you do so now. The only thing is we don't know if CIMB, Maybank and Public Bank will extend 0% Balance Transfer Plan for next year. Let's pray they do.
[ Update 20 November 2011 - RHB is now offering 0% 6 Months Balance Transfer until 31 January 2012 - click here to read more on the RHB 0% Balance Transfer ]
INSTALLMENT PLAN FOR EDUCATION BILLS
I started off this article about parents spending money for vacations and festive seasons. Come, first January, we may be tight on cash but still manageable since we have budgeted for the holiday and gifts expenses. However, some of you may have no alternative but to sent your kids to private schools because of last minute changes and have not budgeted for it. And some may have a child entering college or university and are considering taking a loan.
As mentioned earlier, most of the current 0% Balance Transfer plans expire end of this year. So, for those who are tight when wanting to pay for your kids' school fees; the good news is there are several credit cards which allow you to convert Educations bills to 0% installment plans this December 2011 and in January 2012. And for those considering loans for college or university education bills, these are 0% interest free loans for you (for example, useful while you are waiting for EPF to reimburse you). Well, even if you have the cash in hand, you still can make some pocket money with the installment plans by depositing the cash into FD and "slowly" pay of the bills. The cards offering 0% installment plans for Education Bills are:
CIMB Bank credit cards - 0% 10 months education installment plan. Expires on 31 December 2011. Click here to see promo at CIMB site. If you are reading this article after 1 January 2011, please check if CIMB has extended this plan once again. Please note, this plan is not applicable to CIMB Islamic cards.
Maybank - 0% Ezy Pay for selected colleges and universities. Click here to view list.
RHB Bank credit cards - 0% 9 months installment for primary school, secondary school, colleges, universities and professional courses. This plan expires on 31 March 2012. Click here to read my article on RHB credit card promos 2011 - 2012.
AmBank credit cards - 0% 6 and 9 months AmFlexi Pay installment plans. Well, actually this plan is applicable for all types of transactions and expires on 31 January 2011. Click here to read more about it.
Having pointed out the above installment plans, if the banks do extend their 0% Balance Transfer Plans, better you use the card that reward you most and then do balance transfer instead of going with installment plans.
CONCLUSION
Click here to see overseas transaction fee with my Maybank Visa Infinite which earn us 5X Treats Points to find out if is it worthwhile to use the Visa Infinite for your overseas education bills.
Education is getting more expensive and our children's tuition fees are increasing yearly. But with the right credit card, we can actually earn back some money :)
For me personally, I prefer to earn cash back than earning reward points with education bills. But having said this, I would use Maybank Visa Infinite for my childrens' overseas education bills and earn 5X TP, that is if they don't impose any surcharge on top of the tuition fees.
OTHER RELATED POSTS
Want to know how to earn pocket money with credit cards, click here to my my article titled Earn Pocket Money with Credit Cards.
Want to know which is the most Prestigious and Exclusive credit card in Malaysia? Click here to read my article on Premier Credit Cards.
To find the best Platinum credit card for you, click here.
OTHER RELATED POSTS - not related to credit cards!
Click here to read my article on tuition and children at Ringgit Wise Fool.
Click here to read what I think about Moral classes taught in schools.
Click to read my article Grandparents Parents Children
Click here to read my article Children Education Path.
The End
If you are forty and below do not read any further. The contents below is rated XXXXXXXXX and the Graphic Details has a Rating of 9 Stars. Further health warning: If you have no sense of humor and/or have a weak heart that can't take excitement and/or are a non-smoker, you are strongly advised to close this window immediately.
Still haven't closed this window, FINAL WARNING - the contents from here onwards may be hazardous to your mind. Continue at your own risk.
My Credit Cards: http://creditcardsmalaysia.blogspot.com proudly presents another no budget production of
Still haven't closed this window, FINAL WARNING - the contents from here onwards may be hazardous to your mind. Continue at your own risk.
My Credit Cards: http://creditcardsmalaysia.blogspot.com proudly presents another no budget production of
Master Card Swiper Mr. C L Tan. Vol.1 Chapter 5 - Free Fags from Education Bills.
Hi there,
ReplyDeleteYou have some good stuff on your blog! Keep up the good word!
I was just wondering why you have started this blog though. Seems rather odd to have a blog just about credit cards. Why?
Shaun Lee, thank you for reading my articles.
ReplyDeleteAs for why I started this blog, go to the very top of this page and click on the very first link to My Blog Guide and you will find the answer as to why I started this blog. That was in 2009.
Nowadays, I produce articles to pass time and to share with others about pros and cons of credit cards. And I also learn when I do research for my posts and same time from the comments from people like you who support me by visiting my site.
Do share with others my articles so that people who are young and new to credit cards do not fall into the shit hole of debt.