Most credit card holders poor at managing expenses

MALAYSIANS hold about 4.2mil credit cards but most cardholders are poor at managing their expenses.

Both Tamil Nesan and Malaysia Nanban carried articles on the issue, which said that there is an increasing trend to use credit cards because it allows consumers to make purchases without dealing in cash.

However, many cardholders could not control their spending and suffers from stress.

The articles said credit card holders should plan their purchases and spend prudently, so that they are not burdened with outstanding payments later on.

Credit card holders are reminded that they are charged up to 18% interest on the amount they need to settle.

Author: Archive were taken from The-Star, an English-written newspaper from Malaysia. Tamil Nesan and Malaysia Nanban is an Indian-Language written newspaper from Malaysia.

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