Meanwhile, credit card officer Suryamarlini Md Hazair said individuals aged 18 and above, and having steady income of above RM1,500 were eligible to apply for a credit card.
She noted, as most of the applicants did not understand credit card terms and financial institution procedures, there were complaints galore when more were charges incurred due to late payment.
"If we just settle the minimum payment in credit card bills, it causes the debt to increase while the card has been used more than the permitted amount stated in the loan," said Suryamarlini, who works in a private financial institution.
She said it was not a problem if anyone wished to apply for a credit card but users must have a high sense of discipline and plan their expenses before using the card to avoid being burdened with high debts.
KNAZ HS NNA GR