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Are you heading into trouble with your credit card debt ?

Credit Card Debt  

30 members have voted

  1. 1. how much you owe ?

    • <1k
      6
    • 1k - 5k
      10
    • 5k -10 k
      4
    • 10k >
      4
    • gone case !
      6


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Do you guys facing this problem ? The amount keeps growing and with no end in sight ! :(

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Yup yup I pay on average around RM500 for my cc bills because of over using it since I got it last 2 years ago. I think it's still under control *touch wood*. But it's crap to know that despite paying it still grows, hmpf!

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I charge all my utilities and groceries shopping there so around RM1,000 to RM2,000

my insurance premium is charged there too

the thing is to treat the credit card as an instrument to earn interest, i.e. pay immediately while during the month, park your money in interest earning accounts like FD. I consider a sin to pay late payment charges and interest.

earn from the bank instead

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So far is OK for me, but sometimes when i add up all spendings from all cards, the figure can be quite scary.

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hey girls... i also face the same problem , my card debts is rm 3000, average every mth have to pay rm300..sigh.. but dun worry i can suggest you all to save the card interest by 50% and the way is:

Personal loan

- interest rate for P loan is about 9% per annum which you can save up 50% cos card interest is 18 % per annum

Comparison:

card debt rm10000 x 18% =rm1800( interest only)

personal loan rm10000 x 9% = rm900

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i always pay full amoung whenever i can.. else i spend within my limits..

if got cc debts, can do balance transfer, its cheaper than personal loan and the credit card interest.. can save a lot & not hurt the wallet trying to pay off the amount

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i have cards from 4 financial institutions and overall debts amounts to rm4000 like that. phew!!! am only able to pay minimum each month but when i get extra like bonus and such, i pay more lah. few years back, i had to resort to getting personal loans just to clear my debts. should have learned my lesson but i keep charging everything to my card.... :D

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I'm now on debt too...

I'm scared like crazy now...

i need to starve myself over 2 months to get free.

RM4k debt.... my 2 months salary will be gone!!!!!!! TT_TT

I'll definately cancel all my others cc and left one for safety after i get free.

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got sucked into cc because of rewards, points, cashback, free stuff or money when sign up, blah blah. yea i pay lots of stuff in cc. problem is sometimes buy stuff i dont really need lol

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I only have 1 gold card and pay in full amount every month. HSBC never got chance to earn my interest, hahaha. If we use the credit card wisely it's a very useful tool, and earn extra reward too!

I hate to see those credit card promoters who block my way right at the point I made my payment in supermarket, saying craps like "I saw you are a credit card user as well, then you must get our card". (such stupid reason??? :blink: )Their way of approaching people just made me sick.

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Hi everyone, hope that those of you who saw my advert in your email about my venture into the world of blogging, made a trip to my website to have a read and enjoyed it (even if somewhat! ^_^ )

In the 2 weeks awaiting the next Chapter (coming out on 15 January, 2009), will include whatever information I have in reducing the credit card debt. The first 10 tips are already inserted this into the website. Hope it can help to give ideas how to reduce the debt as we really don't want to be feeding the credit card companies, what more in times of recession, ya? My website is as follows: www.creditcardshortstories.com.

If you have any suggestions that you want me to include in the website, please feel free to leave a comment in the comment link, thanks in advance!

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self-control...

i have credit cards from almost all the banks (because i collect them, my hobby) and i only bring one out with me and uses that one for my spending....

basically the credit limit for the card i use to spend is the lowest among all my cards..

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The bottom line is; live within your means . And always,always pay in full. If u can't afford to pay the bills in full, it simply means to actually can't afford it. I try my best not to overspent from what I've budgeted. But once in a blue moon, things happen. =P

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For me, credit card is for emergency & convenience, holding it doesnt mean u can spend more coz u do not have much income.

Lot ppl got wrong perception. Spend both cash & card.

As Jojoba say, once in a while got blue moon is ok la.....

Control by spending habits & reduce credit limit.

Thats wat i do.....

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Do you guys facing this problem ? The amount keeps growing and with no end in sight ! :(

no,never :) like as if i want too **touchwood**

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As Jojoba says, once in a while got blue moon is ok la.....

Hehe yeah, once in a blue moon as in, I went for road trip to my friend's wedding. Petrol+toll cost hundreds maa.

Thank God I'm not crazy over designer stuffs. I do LOVE shopping, makeups & clothes but most of the time, I buy things that I can afford.

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Hehe yeah, once in a blue moon as in, I went for road trip to my friend's wedding. Petrol+toll cost hundreds maa.

Thank God I'm not crazy over designer stuffs. I do LOVE shopping, makeups & clothes but most of the time, I buy things that I can afford.

Ya, we always in dilemma of needs & wants, n we also confused bout it..,....

Spend on needs first, then only c how..... i strictly control my self using one credit card......

If i want 2 get second card, that would be a reason there, maybe for travel oversea conveniences, etc.

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