No Free $$, Loans & Credit Cards!

I am in a bad mood.

I don’t feel like blogging about my credit card debts or writing articles for my multiple niche blogs.

I feel like venting out my anger on someone.

What causes me to be so pissed off? My guess is that it has got to do with the exorbitant late payment charges.

There have been changes on late payment and penalty charges. The move by Bank Negara Malaysia is to instill prompt repayment behaviour and prudent spending.

Previously, the late payment charge was RM5 or 0.5% of the 5% minimum payment, whichever was higher.

Now is RM10 or 1% of the outstanding balance (NOT the 5% minimum payment) subject to a maximum of RM100.

Previously I paid RM5 for the late payment charge. Now I have to pay RM46 because of the outstanding balance of RM4,697.

I am in a bad mood because I am stressed out.

Some of my credit card repayments are made on time because they carry low interest charges ranging from 9% to 12%. Only 2 or 3 credit card repayments that I will delay in paying. Why? Guys, I don’t have enough money to make all the credit card repayments on time.

This really makes my paying off credit card debt more difficult. Not fair! I have been paying down my credit card debt dutifully.

Should You Get a Credit Card? Never ever get one if you want to be a millionaire!

Millionaires don’t get into credit card debt. Only middle class people like you and I get into credit card debt.

What if You Can Exercise Very Strong Control on Spending and Always Pay Off Your Payment? Well then buddy, you should be able save enough cash since you have very strong self-control on spending.

Cash is King. Use cash.

As a work at home mom who is loaded with less than $13,000 credit card debt and paying down the debt bit by bit, it hurts to see credit card companies or banks suck my hard-earned money through interest charges , late payment charges, annual fee charges, miscellaneous charges, and many unknown charges that credit card users like you and I will never understand why they are charged even though you call up and ask.

Obama Calls for Tighter Credit Card Restrictions

A typical American family is $10,000 in the red! I have less than $13,000 credit card debt. What about you?

I feel happy for you if you are not in debt.

I used to feel bad about my credit card debt. But not anymore. Just take up the responsibility, stop using credit cards and pay down the debt.

Yes, stop using any credit card. Use cash. Cash is King.