usually i always pay statement balance in full but due to raya my budget lari this month. outstanding reached rm1400 already lul.

im thinking to pay minimum amount so i can breathe a bit.

is it dangerous to play around with minimum amount? cimb.

you paid minimum but interest still charge at full amount tau.

Not dangerous, if you don't mind they charge u interest

As long as you pay minimum amount you'll be fine. CIMB is being a prick lately. If you miss the minimum payment for a month, they will suspend the same amount from your linked Savings Account until you clear the payment (even if your account has insufficient balance, then you can actually see negative balance in your savings!)

In before CIMB no money.

why ppl still dont get it????

Minimum = Paying more interest


so the more you pay minimum the higher the balance gets!

haiya rm1400 only
comme i help u pay

This is called right of set-off

Time to either change your credit card or saving /deposit accounts

For this reason I always separate my loans and deposit bank

you have to pay minimum payment before due date so your ccris will not have a spot.
interest will still be charged to the outstanding amount in your card.

if you can pay off the outstanding within 1 or 2 months, paying minimum for this month is perfectly normal. somemore 1.4k is just a tiny amount.

during my peak last time minimum payment was around 6k

i have the protector shield thingy
how to i terminate it?

1400 interest abit only . its ok

Call your credit card company and ask to terminate

You may need to officially write in

because everymonth like charging me few ringgits for monthly spending

This is wrong. In general the minimum payment is 5% of the balance, while the interest is roughly (depending on the deal you get with the bank) charged at 1.5% a month of the balance. in the long run, the balance will be reduced. It is a given that the interest payable would be higher, it is not a difficult concept.

While it is not recommended to only pay the minimum, the balance would still be lower next month and the proceeding months. There is even a calculator to calculate the number of months to settle the loan if you keep paying the minimum.

lol dont cari pasal with minimum payment. word of advise

oklah dari xbayar langsung

pls share me this calculator.

You are at the top of a slippery slope, TS. Once you start minimum payments, it's going to be hard to climb back up.

must pay .. dont get in the this zone

File for bankruptcy.

In google playstore or ios, look for financial calculator.

Or go to fncalculator.com

No please dont have this mindset. Paying minimum payment is OK to breathe. Provided the person do not add up new debts (continue to use the card for unnecessary items)

Cash flow is important to live

you help pay for him lor

no, paying minimum not dangerous at all.
it's only dangerous when you can't even afford to pay the minimum payment amount.....LOL

depending on how attentive you are to details

my fren got over 8 credit cards

he move around balances to get points

then use some app pay (fave?) to pay card balance to get more points

and convert them to miles

OK if ur attentive, like i said, and also around to do so

sick once until cant leave bed..then all ur late payment charges sekali gus kena

dun spend moneh u dun have

Once or twice ok la, make sure you'll be able to cover it in the coming months.

Yes, it's fine. Cheaper than Ah Long.

The fact is, unpaid amount becomes a debt and debts tend to snowball into bigger debts. At 18-24% per annum, the debt balloons very fast. True story - a RM20K "leftover amount" ballooned to RM65K in less than 3 years. Once you have a little amount unpaid, it tends to become unpaid for a loooooooong time. Very soon you'll get the bank calling you everywhere (including your office) and all the time (including office hours) to remind you of your unpaid money.

The keyword is SETTLE the full amount even if you need to uplift your FD or withdraw from your savings. Salaried worker's income is constant every month. Don't dream of a sudden windfall later on that will improve your payback ability...only businessmen have the ability to carry forward their debts during good times...but go bankrupt when the projected future income falls short.

Don't believe those gurus that tell you rollover debt is part of life and cash is King...it works only for business people NOT for salaried worker's. The banks pay you 3% interest p.a. for your FD but charge you 18-24% p.a. interest on your unpaid credit card balance. It doesn't take a genius to realize you're dealing with legalized loan sharks - run as far away as you can! It'll take you many years (sometimes never!) and many sleepless nights to get yourself out of this kind of debts that all started with just a tiny little carried-over unpaid balance!!😥

Balance transfer got

you pay minimum, your pokok even increases.

yup dangerous because 18% interest including your future usage. until u pay finish.

Best way is to transfer balance to another card then u can pay it back monthly.

Well sye hutang >150k cc paying minimum rolling oso

Tighten your belt for the month and pay it off. At least you only will be hungry for a month and won’t have it hanging in your head for months and months or worse, years.

paying minimum is okay as long u dint continue spending after that. I used to pay minimum for almost 1 year because of financial issue, the amount will reduce (albeit a bit slow) even u pay minimum as long as u dint keep spending. Plus 1400 is really small amount to be honest. But please be careful don't keep spending.

what im afraid is the interest charged will not be able to offset all the savings i made from the cashback reward.

with that small amount, interest rate for next month probably less than rm10.

apply for Balance transfer

i see. thx.

so i dont think need to worry much.

just need to be more careful on spending this month.

It not he dont understand but he spending money he did not have

hmmm minimum amount its trick for bank to charge you interest.
that how legal ah long do for survive as lot ppl just pay minimum amount.

Tak perlu risau

Janji can boba tea, use S10, wayang 3 times a week, kyochon for lunch and KFry for dinner

its ok to pay minimum as long as you dont load anything on top...

was in around 20k debts had to pay minimum for cash flow then cut here and there used snowball method to pay now left only RM500..bulan depan dah settle took me 9 months all in all

come I teach you.... Dont pay Minimum payment.... If you got other CC, get the best rate for balance transfer. Transfer your outstanding to another bank CC. Then from there u slowly pay back the other bank

Balance transfer rate confirm lower than CC interest rate