Credit Card Debt Consolidation
Trusted Credit Card Debt Consolidation Agency in Malaysia
Bluebricks is a bank loan agency and debt consolidation agency in Malaysia with over a decade of experience. We specialise in loan consolidation and rejected services, and we are committed to helping you regain control of your finances and plan for a debt-free future.
Our certified experts recognise that every financial situation is unique and will customise our services to meet your needs. They will work closely with you to assess your financial situation, create a personalised action plan, and guide your debt consolidation process.
What is Credit Card Debt Consolidation in Malaysia?
Credit card debt consolidation in Malaysia involves merging several credit card debts into one single loan with a lower interest rate and an extended repayment period. This approach can help you:
Save money on interest charges.
Streamline your
monthly payments.
monthly payments.
Alleviate financial stress.
Obtain extra cash
in hand.
in hand.
Solve your third-party debt issue.
Reduce your monthly instalment period.
Achieve a new high score in CTOS.
Enable banks to re-evaluate your profile, possibly clearing bad records and demonstrating improved financial management.
Solve your third-party
debt issue.
debt issue.
Reduce your monthly instalment period.
Achieve a new high score in CTOS.
Enable banks to re-evaluate your profile, possibly clearing bad records and demonstrating improved financial management.
For example, if you have a credit card debt of RM100,000, and the minimum payment for the debt is 5%, you would then need to pay back RM5,000 each month. However, by converting all your credit card debts into a personal loan, the repayment amount could be as low as RM2,500, effectively reducing your burden by 50%.
Consolidate Credit Card Debt with Bluebricks
Choosing a personal loan to consolidate your credit card debts allows you to combine your debts into fixed monthly payments with lower interest rates and a longer repayment period.
Credit Card Balance Transfer
A credit card balance transfer enables you to move the outstanding balances from your existing credit cards to a new credit card that generally offers a lower interest rate for a limited period.
Personal Loan
Choosing a personal loan to consolidate your credit card debts allows you to combine your debts into fixed monthly payments with lower interest rates and a longer repayment period.
At Bluebricks, we can help you secure a personal loan from a reputable bank or financial institution. As long as your income exceeds RM5,000 and you have no legal cases or summonses in CTOS, we can proceed with the consolidation process.
Consolidate Credit Card Debt with Bluebricks
Choosing a personal loan to consolidate your credit card debts allows you to combine your debts into fixed monthly payments with lower interest rates and a longer repayment period.
At Bluebricks, we can help you secure a personal loan from a reputable bank or financial institution. As long as your income exceeds RM5,000 and you have no legal cases or summonses in CTOS, we can proceed with the consolidation process.
We offer assistance even in challenging financial situations, especially if you:
- Are enrolled in the AKPK programme (with a salary of more than RM5,000).
- Have significant financial commitments with 70% of your income dedicated to servicing bank loans.
- Have a poor CTOS record (excluding individuals with legal or summons cases).
- Have a history of late payments (excluding housing loan delays of up to two months).
- Do not have sufficient income documentation (but note that having no proof at all means we can’t help).
However, it’s important to note that our services are limited in certain circumstances. For instance, we are unable to assist if you are currently facing legal cases, bankruptcy, or have active summon cases.
How Can We Help
At Bluebricks, we are committed to providing clear, concise information and support to help you navigate your loan options in Malaysia. We offer a range of solutions, including:
Rejected Loan
Our loan experts analyse the reasons behind your rejection and work with you to enhance your chances of loan approval.
Increase Loan Amount
We assess your financial profile, providing insights on maximising your eligibility and connecting you with the right financial institutions to meet your specific needs.
Low Interest & Fast Approval
We specialise in finding low-interest loan options coupled with fast approval processes, ensuring you get the financial support you need without unnecessary delays.
Get In Touch With Our Loan Experts
Ready to explore your options? Fill out our form to discover how our experts can help you consolidate your credit card debt.
Ready to explore your options? Fill out our form to discover how our experts can help you consolidate your credit card debt.
Why Bluebricks?
Licensed Loan Brokerage In Malaysia
We act as your loan agents and represent not only individuals but also businesses. As technical financial advisors, we work with various borrowers and support you to get your loans approved. You will have access to a wide range of loans, even if banks or lenders have rejected you. Our goal is to offer advice that helps ensure your loan applications are successful and not subject to rejection.
Over 10 Years of Experience
We will navigate through all situations alongside our clients, managing payments and resolving any issues that arise. Our solutions reflect insights gained from years of experience and are supported by a range of supplementary services. These include loan and credit solutions, consultancy on real estate financing, and technology responses for asset management.
One-Stop Solution
We offer comprehensive loan services, acting as a one-stop solution for our clients, where we compile a variety of loan options from lenders for your consideration. All you need to do is provide us with the necessary documentation, including your income statement, assets and liabilities, employment record, and credit history. We will manage your collateral and documentation to facilitate loan approval.
Full Financing with 100% Bank Loans
We understand that financial accessibility is key, which is why we offer 100% bank loan availability. This unique opportunity is perfect if you are in need of complete financial support, providing an accessible path to your goals while also helping you build a positive credit history.
No Upfront Payment Required
We believe in easing your financial journey from the start. With our no upfront payment policy, you can embark on your investment without any initial financial strain, not only reducing your immediate burden but also reflecting our commitment to your satisfaction and trust in our services.
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Credit Card Debt Consolidation – FAQs
Credit card debt consolidation in Malaysia can be a helpful strategy for managing and eventually overcoming debt. Its benefits include:
- Simplified Repayments
- Lower Interest Rates
- Predictable Payments
- Improved Credit Score
When you apply for credit card debt consolidation in Malaysia, it doesn’t necessarily mean you’ll lose your credit cards.
For instance, if you consolidate by transferring balances to a new credit card (often with a 0% introductory APR), you won’t lose your old cards. However, managing the old and new accounts responsibly is essential.
Moreover, if you opt for a personal loan to pay off credit card balances, your credit cards remain open. You’ll use the loan to pay off the cards, but the accounts themselves won’t be closed.
Credit card debt consolidation can have varying effects on your credit score in Malaysia. Let’s explore this further:
- Positive Impact: Credit card debt consolidation has the potential to improve your credit score in several ways:
- Credit Mix: It can enhance your credit mix, which refers to having a variety of credit types (e.g., credit cards, loans, mortgages). A diverse credit mix is generally favourable for your score.
- Lower Credit Utilisation: When consolidating your credit card debts, you may reduce your overall credit utilisation rate. This rate represents how much of your available credit you’re using.
- Negative Impact: However, there are potential downsides:
- Short-Term Impact: Opening a new account (such as a balance transfer credit card or personal loan) can lead to a slight dip in your score.
- Credit Inquiries: Applying for a new consolidation loan may result in a hard inquiry on your credit report. Multiple inquiries within a short period can affect your score.
- Closing Old Accounts: Closing existing credit card accounts during consolidation could shorten your credit history length, which is another factor in credit scoring.
