Having a credit card can be a wonderful convenience. In this day and age, it’s hard to imagine living without one. But without self-discipline, the card can actually cause more harm than good. We’ve all heard stories about people racking up enormous amount of debt and struggling to get out of it.
While these cards may seem to be the root cause of financial problems in Malaysia, the reality is actually far from it.
This infographic reveals some surprising facts about credit card spending in Malaysia – and offers some insights into the main causes of debt problems Malaysians face.
Unlike many other countries, in Malaysia, credit cards are still often “sold” to consumers – most Malaysians will no doubt have experienced the forced-delightfulness of sales representatives from banks in shopping malls, trying to convince you why you should abandon the one in your wallet and sign up for theirs.
But with more than 200 different types of cards offered by banks in Malaysia, it is no wonder Malaysians are confused and often cave in to these sales representatives – after all, how would you know which one is best for you?
In the past, this might have been true. Fortunately, right now, you can compare and look for the best credit card that suits your needs and preferences – all in the comfort of using your laptop or mobile phone.
Have you ever been approached by a credit card sales representatives?