KUALA LUMPUR, Jan 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) reversed yesterday’s gains to close lower on Wednesday as investors took profit amid the negative performance of regional peers. At 5 pm, the FBM KLCI fell 14.96 points or 0.92 per cent to end at its intraday low of 1,614.83 from Tuesday’s close of 1,629.79. The benchmark index opened 0.87 of-a-point easier at 1,628.92 and hit an intraday high of 1,631.15 during the early morning session. Decliners trounced advancers 827 to 285 on the broader market, while 497 counters were unchanged, 761 untraded, and 10 others suspended. Turnover narrowed to 3.59 billion units valued at RM3.06 billion against Tuesday’s 3.91 billion units valued at RM3.29 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan noted that major Asian indices followed Wall Street’s downbeat performance, driven by t...
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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