Credit card debt is definitely one of the things that bother a lot of people in the world. This is especially for those who are aged 30 years and below. If youth uses credit cards in the wrong way, it will bring many negative consequences.
Little did many people know, there is indeed a correct way for people to use this credit card without getting overly charged by it. The simple steps are shared by a Twitter user called @haikalhisham_ recently. This is the correct way to do it.
Hutang kad kredit terlalu tinggi antara punca golongan muda berusia bawah 30 tahun di Malaysia.
Kad kredit ibarat pisau, kalau salah guna memang akan parah. Harini saya nak kongsikan cara guna kad kredit tanpa sebarang caj
— Haikal 🇲🇾 (@haikalhisham_) March 1, 2022
Credit Card Debt Avoided By Using It Without Any Charges
1) Statement Date (SD)
This is one of the most important things to remember when you are using a credit card. For example, if the statement date is on the 3rd February 2022. So that means the use of your credit card would be from the month before the 4th of January to the 3rd of February. It usually counts up until 27 to 30 days.
2) Payment Due Date (DD)
This is actually the date to pay your credit card. Bank would give you a period of 20 days. This period starts from the statement date (SD) without charge which means 0%. It only works if you settle the entire balance of your card.
3) Available Credit Limit
This is the rest of the amount on the card that you can wear. If you want to apply for a loan, do not use all or it is better to leave less than 50% of the remaining limit.
4) Minimum Payment
Usually 5% of the card usage you use. For example, if you use RM1000, you have to pay only RM50 monthly. But if you want to finish paying. Avoid paying the minimum every month. This is the root cause of many credit card debt.
5) Statement Balance
This is the remaining amount that you used for the last month.
6) Outstanding Balance
This is the total usage of your card. The balance of the card that you use but have not paid includes the month.
Sources: Twitter Haikal, Facebook Razzaaq Ajaq.
