{"id":31082,"date":"2017-08-25T17:35:44","date_gmt":"2017-08-25T09:35:44","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=31082"},"modified":"2018-08-24T00:16:42","modified_gmt":"2018-08-23T16:16:42","slug":"credit-card-debt-rise","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/credit-card-debt-rise","title":{"rendered":"Credit Card Debt Is On The Rise!"},"content":{"rendered":"<p>Looks like credit card debt is on the rise as 3.6 million cardholders have a combined outstanding balance of RM36.9 billion!<\/p>\n<p>This is based on data released by the Statistics Department in 2016, with the figures representing 20 million population aged between 20 to 74 years old.<\/p>\n<p>Deputy Finance Minister Datuk Lee Chee Leong told the Dewan Negara that from this outstanding debt, 6.2 % is debt not exceeding three months\u2019 worth RM2.3 billion. This is followed by an outstanding balance of more than three months, or the non-performing loans, which is at 1.1% which is worth RM0.4 billion.<\/p>\n<p>He also said that a total of 845 people, aged 30 and above, were also declared bankrupt due to unpaid credit card bills in the first half of 2017. On an average, 43.6% of total cardholders settled their credit card debt completely in the January to June 2017 period, while another 43.6% pay up at least 5% of the outstanding balance in the same period.<\/p>\n<p>The remaining 12.8% are cardholders who do not pay even the minimum payment of their outstanding balance before or within the due date.<\/p>\n<p><a href=\"https:\/\/www.nst.com.my\/news\/nation\/2017\/08\/270620\/36-million-credit-card-holders-have-rm369-billion-outstanding-balance\" target=\"_blank\" rel=\"nofollow\"><em>[Source]<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Time to clear your debt!<\/p>\n","protected":false},"author":38,"featured_media":31083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[227,216],"tags":[],"class_list":["post-31082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-card","category-news-updates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3.6 million cardholders have RM36.9 billion of outstanding balance<\/title>\n<meta name=\"description\" content=\"3.6 million Malaysian cardholders have an outstanding balance of RM36.9 billion in credit card debt, with 845 people already declared bankrupt in 2017.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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