Why credit cards holders go bankrupt? How to prevent?

What is credit cards? Credit card is a plastic card which issued by Bank to the holder with a credit limit to make payment. Nowadays, credit card is a common way to a consumer to make payment. The payment made will become the credit card debts and it also named as consumer debts. The debts will be more while there is interest charge to the card holders. If the card holders do not pay the money back to the bank on time, there will be penalties charge. Therefore, the credit card debts amount will become greater and greater. Once the card holders is unable to pay all the debts back to the bank, then he or she will go for bankruptcy.

In order not to go for bankruptcy, the card holders should not spend more than the amount he or she earn monthly. To prevent the penalties charge, the card holders should pay the credit card debts on time to the bank. The most convenient way for the card holders to pay the debt is using online banking (e.g. http://www.maybank2u.com.my)