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.

Do you think there are Free Money, Free Loans, Free Credit Cards in this world?

No, No, No. No free money, free loans, free credit cards! You have to pay to get what you want. So, stop looking for free money, free loans or free credit cards online.

Free credit cards? Come on, be realistic. They are free when you apply. Once the cards are approved and you start using them, there are finance charges, penalty charges, annual fees, processing fees, transaction fees, late payment fees, miscellaneous fees and other hidden fees that add to the outstanding balance.