In the 1960s, a bank could refuse to issue a credit card to a woman if she was not married. Even if she was, she would require her husband’s consent and signature to get a credit card.
Blasphemous? You’ll be surprised to learn that it wasn’t until the 1970s, under the Equal Credit Opportunity Act of 1974, that it became illegal to refuse a credit card to a person based on their gender, race, religion and national origin.
This translated into an unprecedented degree of independence for women, making it possible for them to now buy things that they need and love with their credit cards.
Growing Demand for Shopping Credit Cards
Fast forward to the year 2014 and we now have cards that are tailored specifically to meet the growing demands of the modern female. Such cards are often equipped with reward programmes and privileges that are geared toward areas such as fashion and cosmetics.
Public Relations (PR) consultant Becky Lee* is the epitome of a trendy young working adult who has been able to take advantage of such unique credit card privileges.
“I have always loved fashion and looking good is an essential part of my job. Unfortunately, nice clothes, shoes and bag do not always come for cheap and budget can be a constraint for me,” the 26-year-old from Kuala Lumpur said with a shrug.
However, the UOB Lady’s Classic credit card she recently signed up for has allowed Becky to indulge in her passion for fashion without busting her monthly financial budget.
“Just take that Turnlock Borough Bag from Coach I’ve been eyeing, for example. I’ve been dreaming about getting one in fuchsia (my favourite colour!), but with a price tag of RM2,400, I thought I might as well forget about it and settle for a cheaper knockoff instead.
“That was until I remembered that the UOB Lady’s Classic card I signed up for actually lets me pay for my purchase via a six-month or 12-month instalment plan at 0% interest.”
Becky picked the six-month deal, which means she would have to pay just slightly over RM330 a month to own her trendy new bag.
“For me, a well-made handbag is a fashion essential. It helps me make a statement and create a memorable first impression with my clients and peers alike. All that is very important for my image as a PR professional,” says Becky.
The UOB Lady’s Classic card also comes with a 10% cashback deal for every RM200 spent, which means that Becky enjoyed a RM100 discount for purchasing her bag with the card.
Though she has never been a big believer in credit cards, Becky shares she is glad that she finally got around to getting one.
“I’m happy to have found a credit card that literally helps me save money while I spend. I feel that the UOB Lady’s Classic card truly understands what a woman needs.
“However, with the great deals and packages that I get to enjoy with the card, especially the cash back and instalment plans, it can be difficult not to go overboard with my spending. The key is to exercise self-control and emphasise on quality, rather than the quantity of items that I want to buy,” she says with a laugh.
If you aren’t sure about which card to get, let us help you find one! Start here.
* Name has been changed to protect the privacy of the individual involved.