Forum
Last updated: 

I'm currently in a lot of debt. and I need it to stop

I've been in debt from a previous loan that I had, every month it keeps increasing as long as it remains unpaid, fortunately I have credit cards that I haven't used but would this be a good idea? Wouldn't this just come back to bite me? Can someone give me advice regarding the matter? Any help would be appreciated

User comments

  • user image

    No Name

    As long as you are able to pay your credit balance as soon as possible, I don't see the harm in paying of a loan with your credit cards, since it would obviously be better for you to pay the loan that you had before, since every month it will increase in interest and would cost more, while the credit card that you posses only needs to be paid monthly and will be unaccesible only if you exceed the credit limit but mind you, as long as it remains unpaid credit can also increase in interest so exercise this with caution

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

I have a debt and charged me with high interest rate, what should I do?

I need assistance with my debts.

I owe my boss

What should I do with my debt to a loan shark?

I am called to pay my debt earlier than the agreed time.

Can creditors sue me for debts if I file for bankruptcy?

Related Reviews

Allows you to check your LinkPoints balance and transaction history conveniently

The NTUC Plus! Visa Debit Card Plus App enhances your rewards experience and allows you to check your LinkPoints balance and transaction history conveniently. So be it shopping, exercising, traveling or dining, explore the discounts and deals you can get under Plus! Treats. You can even collect stamps from Plus! Partners to redeem exciting rewards.

NTUC Plus! VISA Debit Card / Oversea-Chinese Banking Corporation

1% cashback with participating retail and transport merchants

This card is well known for their youth centred marketing campaigns and having a wide array of attractive card designs for you to choose from, this FRANK debit card is another popular choice amongst tertiary students. This card offers a 1% cashback with participating retail and transport merchants such as ZALORA, Lazada and Grab. Good enough, there is no minimum income and annual fee required for this card. You only need to be 16 years or older with an OCBE FRANK savings account.

OCBC FRANK Debit Card / Oversea-Chinese Banking Corporation

Transact in multiple currencies without incurring foreign currency exchange fee

The KrisFlyer UOB Debit Card and Account has definitely changed for the better. With the introduction of Mighty FX, it now makes even more sense for a frequent traveller to take advantage of the enhanced ability of the KrisFlyer UOB Debit Card to transact in multiple currencies without incurring a foreign currency exchange fee. If you want to earn KrisFlyer miles and don’t want to get or don’t qualify for a credit card, then the KrisFlyer UOB Debit Card and Account are the way to go.

KrisFlyer UOB Account / United Overseas Bank

Cash rebate is capped at a maximum of S$10 per calendar month.

The Bank of China is now officially part of the atm5 shared network and in effect you can now check your account balance and enjoy cash withdrawals with your BOC Great Wall International MasterCard Debit Card at over 230 ATMs with atm5 Logo Island wide without any transaction fees. You should know that cash rebate is capped at a maximum of S$10 per calendar month.

Bank of China Great Wall International Debit Card / Bank of China

7% cashback on petrol even in Malaysia

Standard Chartered has several debit cards, and the one you’ll get depends on which bank account you choose. If you plan to bank with StanChart, consider the Standard Chartered XtraSaver Debit Card which is linked to the XtraSaver account. With this card, as long as you maintain a minimum balance of $6,000 in that account, you can get a very respectable 7% cashback on petrol (including in Malaysia), capped at $40 a month. If you have an account balance of at least $200,000, you can get up to 15% but the cap doesn’t change.

Standard Chartered XtraSaver Debit Card / Standard Chartered Bank Singapore

Withdraw cash from Maybank ATMs with no transaction fees

The Maybank offers two debit cards, the Maybank Platinum Debit Card (Mastercard) and the Maybank Manchester United Platinum Visa Debit Card. Now for those of us, especially those who frequent Malaysia, the free Maybank Platinum Debit Card is pretty useful as it lets you withdraw cash from Maybank ATMs with no transaction fees. Bear in mind, however, that foreign exchange rates may apply.

Maybank Platinum Debit Card / Maybank Singapore