8.8 million credit card holders in Malaysia
Terengganu: There are about 8.8 million credit card holders in Malaysia and most are living beyond their means, charging a total of RM19.3 billion of their spending to various financial institutions.
Credit Counselling and Management Agency Chairman Datuk L. Meyyappan who revealed this, however, said the amount was considered small as it made up only 6.2 per cent of total debts to financial institutions with the most being housing loans at RM312.2 billion.
"On the average, Malaysians have three credit cards each. But overall, they are disciplined pay masters compared to those in other countries.
"In fact, unpaid debts involving credit cards amount to only 3.4 per cent or RM670 million of the total outstanding," he told reporters after officiating the agency's office here at Bank Negara Malaysia's Terengganu branch.
Credit Counselling and Management Agency Chairman Datuk L. Meyyappan who revealed this, however, said the amount was considered small as it made up only 6.2 per cent of total debts to financial institutions with the most being housing loans at RM312.2 billion.
"On the average, Malaysians have three credit cards each. But overall, they are disciplined pay masters compared to those in other countries.
"In fact, unpaid debts involving credit cards amount to only 3.4 per cent or RM670 million of the total outstanding," he told reporters after officiating the agency's office here at Bank Negara Malaysia's Terengganu branch.
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Labels: Asian Credit Card
posted by e-borneo.com @ 6:49 PM
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