just to let you know there exist credit cards that are "designed" for minimum payers with super low interest rate. same goes for certain bank loans

having a huge credit facility is a very advantageous perk for many. alot of them have the money and financial intelligence to know that not utilising credit facilities are foolish.

just like your case above, lets use a simple example i heard before which is very common. lets say one dude who earns RM10k/mth owes a bank RM100k in CC expenses/loans/debts whatnot. but dude didnt want to stop his current high maintenance lifestyle at all to clear the debt to zero

so what the fella did was apply for those high credit limit credit cards or loans with low interest rates with long tenure (lets say 2%) then balance transfer whatever his purchases over to them. now all he need is to just pay RM2k in interest every month and the min payment of 5% of RM100k (RM5k), total RM7k/mth. he will still have 3k left to "spend/save"

this is how usually the rich play around with credit facilities and afforded really expensive things.

i had similar situations here too. with several credit card debt on my shoulder, it make me thinking to find one solution for all. few bank had contact me to give a solutions to take settlement loans. how i able to know its worthy or not?

current:
UOB cc: 15k ~ 1k/mth
CIMBcc: 5K 400/mth
Aeon: 10k 600/mth

with current expenses, there is a month that i had to use my cc.

i watch ramsey baby step, but i not able to understand correctly how its works. any thought?

He's not eligible for a credit card unfortunately lol

the key word is cashflow.

if he dont have enough every month to pay the 800, then yes he should take the loan. if he have surplus after deduct the 800, then dont need.