Credit Card really create problem? Maybe yes, maybe not…

Background Story: reference to SinChiewJitPoh

Bank Negara (National Bank) would like to tighten the T&C for Credit card application. Previously if your monthly income same or higher than RM1,500, annum is RM18,000, now changed to monthly income same or higher than RM2,000 , annum is RM24,000. Maybe this action will filter out some applicant for credit cards…

Recently, really lot of cases that people not able to repay back their debt which they’d spent by using credit card. Imagine RM5000 credit limit per card, and he/she swipe for max amount for 2cards, it will end up a debt of RM10,000, which was too much for him/her to pay back.

I would like to say, it still a self financial management which needed in place.

There was some case you need the Credit Card badly.

Case study:
If you have a emergency case which happened and need to admit to hospital immediately, and in rush situation and the most nearby hospital is private hospital. Without any choices, you been send to the private hospital.

Private hospital will first ask you whether you have any medical card or not?
If yes then proceed to check in…
If no, then they will continue ask about any deposit which you can place before hand. Normally will be RM500 and above (depend on case and seriousness…)

If you have cash on hand, then proceed to check in…
If no, then they will ask for any credit card to swipe and book the amount of credit before hand…

If you have credit card on hand, then proceed to check in…
If no, then they still need “someone” to settle the deposit first, before any treatment onto you…

See, if you do not have any medical card/insurance, any cash, any credit card… You will need to rush to Government hospital which is a bit far or very far from you for treatment. If that is really real serious emergency, then you might be in real danger just because you not able to make the deposit for hospital.

(Disclaimer: We are not saying bad to any private hospital, but that was their procedure, please correct me if I’m wrong)

Credit card might bring lot of society issue which always being blamed by everyone. But it also come handy when you need it for emergency situation.

Use it wisely is the main thing we should learn, and should educate the society. By increasing the income per annum for application T&C wouldn’t help much in fact. Remember, they still can go for sub card from those high income person, such like Parent, friend or husband/wife…

** Picture taken from HERE