Credit card becomes more popular in these few years. Credit card is very convenient in trade but the credit cards also arose some problems since it’s under control such as credit card debts. In these few years, many people had declared bankrupt, the majority caused by credit card debts.
Causes of credit card debts:
- Credit card users are poor in money management. Those users didn’t have proper plan about their existing income and expenses before make decision to spend the money.
- Credit card users use debts to pay debts. The users used credit card to pay off their spent or expenses. This will have snowball effect.
- Credit card is providing future money of Credit card users’ services; it is also borrowing money activities. The application of credit card is easier than previously.
Prevention of credit card debts:
- Bank can increase the qualification of apply the credit card.
- Credit card users need to improve their money management skills through attend some conference, read some related book and etc.
- Credit card users can use cash to pay their spent if cash is available to the amount, reduce the usage of credit card.
- Credit card users can regularly to pay their debts when the statement is received. This can reduce the interest charge of bank; either is in full or part of the amount.
If you face credit card debts problem, you can link to this website.this maybe can help you.
http://mycreditcardsolution.com/malaysia-credit-card-debt-solution-website/
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2 comments:
do you think what qualification just can apply for credit card?
In my opinion,applicant should have regular income which above RM2000 and responsibilities to pay the debts.
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