Hi Greeting,

4 year ago i apply credit cards and cimb give me credit cards but name under direct@access Platinum... with limit 20K, my question is i never reach the credit limit... and always pay monthly 1K-1.5K monthly... but all time using the credit i never manage to finish pay the remaining balance of my cards... now i use upto 70% of 20k balance... i feel stuck and living of credit... felt like prison, what i don't understand why/how cimb approve me the cards in the first place... ? and yes i am active on use of the cards and also pay monthly more then minimum every month.. but is been near 2 year my balance seem stuck... feel like prison...

x
any tips... if you exp it also how you ? do it...

balance transfer

Seek help from AKPK.

balance transfer e.g. apply another credit card and do balance transfer.. ah won't that create another problem for future... i trying to settle a previous long debt... and hard time to settle previous and try to create credit problem future.. no don't seem to be logic.. thx advise.

please explain thx

AKPK thread: https://forum.lowyat.net/topic/876712

They'll help you to "reorganize" your debt for repayment.

1. PAY AS MUCH AS U CAN, not just "more than the minimum required"
2. BUY WHAT U NEED, NOT WHAT U WANT

Is it that hard to comprehend?

Obviously yes, it is that hard to comprehend for him

Just cut the credit card in half, and use cash for everything until it is fully paid. If you have the determination, you can do it

The problem that he might be facing is uncontrollable short term, high interest debt.

That outstanding needs to bring down to certain level first.

Some people will not learn until they are bitten hard.

Just swallow the bitter pill, and do it the hard way.

1) yes the minimum of card demand is Rm560-650 monthly... i manage to pay Rm1k or 1.5 monthly but sometimes car need service... new gaming notebook... designer clothing... lol sound shallow... but yesi pay more then the minimum as it stated on my main post.. THX advise tho..

2)well ... i do not understand... if i dont need it i won't buy it.. but i geuss i need that's why i buy... hard to comprehend that...? peace thx advise

haha thx... but if i cut the card... when in deep emergency where i get money instantaneously? bank personal loan take 1 month.. and Direct@access only Card i have... sure is sound advise at end of paying off in 8-14 month i think i cut it off...

ah yes... when i get to 70% debt pay i may be better manage debt.. thx sound advise good sir'!

Step 1 - cut card in half
Step 2 - sell off all your gaming notebook and pay the debt.
Step 3 - only spend money on food, transportation and rental. Buy nothing else.
Step 4 - pay off your card loan with every single sen you have.
Step 5 - finish pay up. you get financial freedom. Congratulations!

It's that simple... really.

But you will be surprised a lot of people do not have the willpower to go through the step above, until they need to declare bankruptcy or AKPK.

This post has been edited by gark: Jun 10 2013, 06:37 PM

yes true lesson of debt in life is lesson learn from pure exp, good word i agree... but holiday to Hong kong or Japan with sweet GF... is very long term memorable too... but it cost with high price tag... hmm but thank you good sir'!

Have to put some effort in cutting unwanted expenses man.

ah wow another idea ... forum full of genius...! "i say" thank you.. but how can i post on this threads? or play Farcry3 or crisis3 after 9-5 job 5 days week... all work no play make unseen dull boy.. and very lonely guy with old shoe and cloth... then GF lft me and... belly fill up...with food only... hmm but thx sound advise will take note. god bless

The more excuses you make, the bigger hole you dig for yourself.

Later bankrupt, GF run away, no money to eat, cannot get good job (bankruptcy), bills mounting, then jump from KLCC...

Your choice...

This post has been edited by gark: Jun 10 2013, 06:43 PM

i heard O2 is not really needed... and some my friend say i am wasted on Oxegen... hmm maybe i can cut unwanted ... hmm gosh i need to make list... thx bro god bless

oh dear.. you are so correct.. thx advise of my future financial status... p.s are you Psychics ? woo awesome