Nowadays a lot of youngsters carry credit cards. I was reading this article telling us the root of creating credit card. From the article I know that the credit card was created for travelers, you know when you go travel you do not want to carry a lot of cash in hand just in case someone robs you the only thing they get is the useless card, and of course your priceless life....

Ok as you can see there are a lot of purposes too, but the main reason was for that, until today credit card is used to fund debts.... or use it to buy stuffs like car, jewelries, clothes, and technologies(especially handphones). Then at the end of the month the consumers could not pay for it as they are using their "future" income.

Great now they face bankruptcy.... They do not know how to manage the credits, therefore it is bad debts for banks. They need to learn how to manage the credits, control their spendings, but then again if they do not have the credit cards they won't be in this situation at the first place right? hehe

Banks have their own policies, for example some banks will approve 60% of the applicants and reject 40% so I heard.

What else.... The expert said that our NPL ratio in Malaysia isn't that high comparing to Korea, Taiwan, and HongKong. So the expert claims that in Malaysia our Non-Payment Loans are in control and it is manageable situation, not serious. I certainly hope so.

So my concern is credit card will soon become a type of instant ATM machine? No limits, even without parents the youngsters will still be able to have extra "cash" to spend....Of course they have to be 18 year-old.

Hey I do not have credit card but I do have debit card :P haha


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i set a limit to my own credit card usage. and i don't swipe my card knowing i got no money to pay that amount later.

actually there's an error in the second avatar because each screenshot didn't have the same measurement of crop. that's why it looks he is jumping. actually is not.
» renaye on 2008-05-11 01:11:20

I know how bad having credit cards are, especially subs but I really want one because I need to have that guarantee that I have something with me that I can use in cases of emergency, strickly involving the hospital or clinic, not because I don't have enough money to buy a top that I like. My mother just never want to give me one. Though how old you are at getting a sub card totally depends on which type of card your parents have.

RE: Yea, I know my mother coming on mother's day is so totally bad but she didn't come just to torture me.
» Nuttz on 2008-05-12 04:37:22

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