A survey conducted by Nielsen Global Survey of Investment Attitudes 2012 shows how Malaysian ranks low in the list of Asian countries when it comes to paying credit card outstanding balances in full.
• Taiwan 89%
• Japan 87%
• South Korea 85%
• Singapore 80%
• Indonesia 59%
• Malaysia < 50%
• Vietnam 27%
The survey also showed that only 18% of Malaysians pay the minimum 5% payment every month whilst another 15% pay more than the minimum amount. Therefore, it is vital for you to check which category you are in.
Being a credit card user, you should be able to learn on how you should use your credit cards responsibly and certain behaviors you should try as best as you can to avoid in order for you to benefit most from your credit card usage.
It is advisable for you to use your credit card to pay your monthly expenses, for example utilities, food, personal stuff like clothing, medical expenses, vacation or gym membership. Not only your credit card can be used for one-off payments, but it can also be used for monthly or annual payments. Thus, it allows you to constantly supervise your recurring expenses.
Read More : http://MyFinance.com.my/articles/detail/8713014074
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