Of 'Responsible' Spending

I remember during my early-goings in Singapore, it was not easy to avail of a credit card. Until after six months of contracting work, I took a more permanent job and received my first company credit card there.

From then on, I have received pre-approved cards and it came to a point that I had to decline them! That was how much these credit card companies encourage you to spend. The thing is not many people manage their credit lines properly. They get excited over the huge card limit, max it out with 'unreasonable' expenses and pay only the minimum balance. Before they know it they end up with bad credit credit cards standing.

With impulsive shopping as a form of addiction, I think these growing number of credit card companies should do something to encourage some form of 'responsible' spending.



Posted bymarikit at 4/14/2008 01:11:00 AM  

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