Best to pay outstanding balances on credit card in full and on time, say experts, Banking News & Top Stories – About Your Online Magazine

SINGAPORE – Credit card debt is not necessarily a bad thing, as it can help people achieve their financial goals if managed prudently, experts said.

Ms. Jacquelyn Tan, head of the UOB personal financial services group, noted that consumers can enjoy benefits such as reimbursement, rewards and discounts by spending carefully and within their means. “It can also help you build a credit score that will be used to evaluate loan applications for important purchases, such as cars or properties,” she said.

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Paula Fonseca