Payment done = RM200.00
outstanding bal=RM 14.20
June statement:Previous bal. =RM4284.07
late charges =RM 42.84 (1% of Pre. bal), due to outstanding balance(short payment) of RM14.20 in May.
Lesson from the scenario;
1. Always pay your minimum balance on time.
2. Never pay less than minimum balance not even a single sen
3. Make sure to keep track on spending and payment thoroughly.
* start charting down all the financial interests/charges arising from credit card every month. The figure will increase your headache.