The outstanding balance on credit cards among Malaysians at the end of March 2007 amounted to RM19.9 billion. This constitutes 5.9 per cent of total household debts. According to CEO of Bank Negara’s Credit Counselling and Debt Management Agency, 60% of credit card holders in the country pay their bill in full. The remainders are delinquents. Over time their credit card debts or bank loans accumulated into bad debts. These are becoming more worrying among young Malaysians.
