Why Minimum Credit Card Payments Keep You in Debt Forever
Many Malaysians think that as long as they make the minimum payment on their credit card, they’re safe. But here’s the truth: minimum payments are designed to benefit banks, not you. They keep you in debt for years — sometimes decades — without you realising it. Let’s break it down. How Minimum Payments Work in […]
Why Credit Card Cash Advances Are a Debt Trap?
In Malaysia, many people see their credit card as a backup for emergencies. Need urgent cash? Just go to the ATM, withdraw using your credit card, and worry about it later. But here’s the truth: a credit card cash advance is one of the most expensive forms of borrowing — far more costly than a […]
The True Cost of Easy Payment Plans in Malaysia
Walk into any shopping mall in Malaysia and you’ll see them everywhere: “0% Easy Payment Plan – Up to 36 Months Instalment!” Banks and merchants promote Easy Payment Plans (EPPs) as a way to make big-ticket purchases more “affordable.” From smartphones to furniture and luxury handbags, Malaysians love the idea of splitting payments into smaller, […]
The Real Price of BNPL (Buy Now Pay Later) Schemes in Malaysia
What Is BNPL and Why Is It So Popular in Malaysia? In recent years, Buy Now Pay Later (BNPL) services have become a booming trend in Malaysia. Platforms like Atome, SPayLater, and PayLater by Grab offer shoppers the ability to split purchases into 3 – 6 interest-free payments — often with just a few taps […]