KUALA LUMPUR, April 4 (Bernama) -- Bursa Malaysia closed lower today, with the benchmark index falling by 0.97 per cent, as persistent selling across various sectors weighed on the market, which continued to feel the impact of sweeping US tariffs. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 14.77 points to 1,504.14 from Thursday’s close of 1,518.91. The benchmark index opened 9.90 points easier at 1,509.01 and fluctuated between 1,500.90 and 1,515.74 throughout the day. In the broader market, losers thumped gainers 777 to 185, while 366 counters were unchanged, 1,031 counters untraded and 19 others suspended. Turnover fell to 1.81 billion units valued at RM1.89 billion against Thursday’s 2.51 billion units valued at RM1.81 billion.
My first two posts, Credit Card - Friend or Foe (Part 1) and Credit Card - Friend or Foe (Part 2) on credit card were slightly bias towards the pros of using credit card rather than the cons of doing so. While I can think of the many pros of using credit card, not every one can fully utilized the benefit of swiping this plastic without ever getting deeper into the pit of debt.
Credit card debt is one of the most feared debt as the interest charged by the financial institution is high, I'm not sure other countries, but in Malaysia the interest charged on credit card normal retail usage are range from 15% (up from previous 13%) to 18% per annum and the amount is accumulated until you fully paid off.
Aside from the high interest rate, there are quite a lot of hidden charges or so call penalty for not paying the credit card on time, or in full amount. There is a grace period of 20 days interest free after the statement closed for the previous month, but still there are a number of people who ignore it and finally pay the price of being ignorance.
See from the above examples, we can easily identify two cons of swiping this plastic money. There are more of the cons, but I will leave it on another post. As it stands, credit card can be friend, and at the same time it can turn against us. Use it wisely, you will find that there are more benefit in swiping credit cards.
Credit card debt is one of the most feared debt as the interest charged by the financial institution is high, I'm not sure other countries, but in Malaysia the interest charged on credit card normal retail usage are range from 15% (up from previous 13%) to 18% per annum and the amount is accumulated until you fully paid off.
Aside from the high interest rate, there are quite a lot of hidden charges or so call penalty for not paying the credit card on time, or in full amount. There is a grace period of 20 days interest free after the statement closed for the previous month, but still there are a number of people who ignore it and finally pay the price of being ignorance.
See from the above examples, we can easily identify two cons of swiping this plastic money. There are more of the cons, but I will leave it on another post. As it stands, credit card can be friend, and at the same time it can turn against us. Use it wisely, you will find that there are more benefit in swiping credit cards.
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