Singaporeans: Struggling To Pay Off Credit Card Bills | Ramblings of an e-trader

Monday, 30 September 2013

Singaporeans: Struggling To Pay Off Credit Card Bills

A new study last week has unveiled that more people are struggling to pay off their credit card bills, with a growing number of them not making any payments at all in two months. In addition, the amount owed is also bigger.

Some say that these new figures underline the need for tougher new rules governing credit card debt. 

It's really difficult to say if more people are getting into debt because they now have easy access to credit cards and are misusing them, or that they are falling into debt because they are no longer making as much money as they used to. 

The trick that people should learn is to only charge an amount to your credit card that you already have in your bank account. This way, you know that you are able to pay off your credit card bill when it arrives.


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