There is NOTHING u can do about the situation because it's oredi happened. Right now, Ur friend will need to plan his finances and make sure he pays up ALL credit card bills; interest rates on credit card's so high it's not worth it - take out a personal loan if he needs to [it'll probably still be cheaper than paying credit card interest rates].

In the meantime, destroy all credit cards and stop using credit to make payments; whatever excuse he gives, it's nothing but just an EXCUSE.

@lil`pumpkinz,
It doesn't matter what U use the credit card for; what matters is making sure U haf the $ to pay the bill when it comes at the end of each bill cycle

Hence I suggested to take a personal loan to pay off this credit card debt. I don't know what the interest is on personal loans but it's probably gonna be below 18%.

For me, I make sure I haf the $ to pay up my credit card bills when it comes; ie. If I were to charge a laptop purchase of RM8k to my credit card, I will make sure I oredi had that RM8k in cash so when the bill comes, I haf the $ to pay for it. Of course, some might prefer converting these big purchases into monthly installments over X years.

@vicng,
Take out the personal loan to cover CC hole and then stop using CC and start paying off the personal loan That way, can save some $ in bank interest especially since Credit Card interests are v high

@clawhammer,
Y do U say so since interest rates are much lower on personal loans than Credit Card loans?

@clawhammer,
Admittedly, I've never taken a personal loan thus far; I don't know what other fees are required other than interest rates and alwiz thought interest rate p.a was much lower than that of CC interest rates hence my suggestion.

It does look like I've got to get more information before I give wrong advice.

@SynHeng,
OoH.... so personal loan is on compounded basis?!

@jasontoh,
I don't think the question here's about taking a balance transfer, it's more like personal loan vs credit card loan; which is better?

@jasontoh,
Yeah but that's onli if TS is able to get a balance transfer approved

@lwb,
I've just had a v long and tiring day so pardon my ignorance [hey, at least I'm willing to ask!] but what's FUBAR?

G.. I had no idea FUBAR was an abbreviation available on wikipedia!!! LoL..... Ah well, the best is to make sure U pay up everything at all times

@jeff_ckf,
Unless ur paying cash, I don't see the reason for paying the bank anything more than I spent *grins* - unless I know I'm going to need the additional credit [when I go away, I always make sure I have sufficient credit] - but I don't need to do that now since I now hold more than the 2 cards issued by Citibank.

Yes... do take advantage of their point reward system - but I find it difficult to accumulate points esp if I'm 'scattering' my payments hence I'd always believed in using 1 card as my primary card.

@jeff_ckf,
RM20?! Just use it once at the petrol pump and U would have exceeded the RM20 - how difficult is it to spend RM20?!

@jeff_ckf,
AhHh.... I think U mentioned it previously before except I didn't pay much attention to it *grins* Anyhow, I used DA to pay for petrol for the first time yesterday *grins* Also, figured since I ain't going to be getting points if I used my Citibank card, I might as well shift all petrol usage to DA and gain from there

@jeff_ckf,
I am able to spend >RM3k p/month on my total credit card bills depending on whether it's a 'good' or 'bad' month; am quite sure I'll hit that figure for the month of June though. Need help spending the $?

@jeff_ckf,
I make couple of purchases for the office and claim them after; not much but it does help accumulate the points I've also recently started paying all bills through my Credit Card

@jeff_ckf,
I use Citibank and there's no additional charges, not that I know of. Yes, I could help ur mom pay her bills; just give me the cash first

@jeff_ckf,
I don't consider myself rich, or so rich

@lwb,
Can't help myself with wanting all the knowledge; U should let me rest by now throwing these new terminologies, FUBAR, f2f, etc etc I oredi forgot what FUBAR is but it's oK.. not an abbreviation I'm gonna need to use much

@jeff_ckf,
I've felt FUBAR before but try not to let the feeling stick around for too long Yes, rich is a matter of opinion and in mine, I ain't

@jeff_ckf,
Unfortunately, I was out the whole day and didn't get a chance to scrutinise through the Star. I noticed only headline news; what's the news on this guy?