Malaysia Credit Cards: The Importance Of Owning One


Introduction – A Highly Advanced Economy

The Malaysian economy is an open market economy. Malaysia also has a highly industrialized economy, the fourth largest in the Southeast Asian region, and the third richest. Needless to say, not only is its economy growing rapidly but is also industrializing just as proportionately.

Because of this industrialization, its economy is also technologically advanced to a very great degree. Much of its currency has become digitized. And core to this digital financial integration is the credit card. As a means of storing, using, and exchanging money digitally, credit cards are essential to the financial digitization of society.

It is very important for Malaysians to understand the importance of the credit card and its ubiquitous influence to properly become a part of the society in which they live. And here are 2 very good reasons why owning a credit card is important to Malaysians and Malaysian society.1

  1. Credit card plays a major role in modern society

The invention of digital credit, and thus of the credit card, is innovative. So innovative and so convenient, in fact, that much of modern society is built around its existence. Many major financial decisions, transactions, measurements, and purchases revolve around digital credit.

People don’t make mortgage payments, car purchases, bill and utility payments, and rent payments with cash. That would simply be way too impractical and slow. They instead make swift and manageable credit payments set up on affordable plans that they slowly pay off.

Malaysians need a credit card due to the complexity of the modern world, with its numerous and complicated transactions, installment plans, and advanced financial situations and the need for credit history. It is inescapable to use a credit card by any member of such a financially advanced nation.

As such, it is in the best interest of Malaysians to situate themselves with a suitable and reliable credit card to fully integrate into society. Otherwise, it would be difficult, if not impossible, to make many of the important and critical financial decisions and purchases.

  1. Malaysia credit cards help Malaysians save money and track expenses easier

As mentioned earlier in the article, Malaysians will inevitably have to make complicated financial decisions in their lives. Many of these decisions will be stressful ordeals to track, pay off, and participate in – such as paying off student loan, for example.

One of the reasons why digital credit was developed is because it is easy to track and use. You will never have to worry about lost or damaged currency, or forgetting to carry it with you. You can get bank statements and figures showing you exactly where and how your cash is used.

This makes life immensely less stressful and easier when you don’t have to worry about how to spend your money or where it goes. This also makes it much easier for Malaysians to save money since they can track every cent of their money, and thus decide what each and every cent is spent towards. And there are also the cashback bonuses many Malaysia credit cards offer that can earn you cash or credit rebate on eligible goods and services.2


Credit cards are so vital and so integrated into modern society that it’s nearly impossible to live without one. They are needed for Malaysians to make important financial purchases, such as a car loan, or down payment on a house. They make life much easier, because credit is much easier to keep track of than cash is.

And lastly, many credit cards have bonuses that can help you earn rebate back on eligible goods and services. Based on these facts, it is essential for Malaysians, and for anyone living in the modern world, to own and use a credit card.