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Anonymous
Hi, should I help my dad pay off his credit card since the interest is crazy and will snowball over time?
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Yes u should pay it off, credit cards have insanely high level of interest rate on roll over balance. n then set a limit on his card.
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Definitely this is because credit card instalment has one of the worst interest rate charged on indiviudals, double digit interest charged.
Help your dad but warn him this is the final time. It is giving him a harsh yellow card to continue the game, "a a child". But if he falls into this problem again, stop it and take a scissors cut his credit cards and dont help him pay his outstanding bills at all
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I will pay off and take away his credit card and ask him return cash to me , if he never return, i will treat it as monthly household spending and wont give him pocket money until debt clear,
if he insist need credit card , give him supplementary card under you and set a limit.
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Cedric Jamie Soh
20 Dec 2019
Director at Seniorcare.com.sg
Talk to your dad first and see if you can help him to pay off. let him know you are willing to help....
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Yes, debt is always a bad thing. discussion with your dad highly recommended to prevent then that debt accumulates again. information & attitude ...