Those who want to learn about basics of money management, now have a new avenue to turn to.  Together with debt management agency AKPK, MasterCard has launched its e-Learning Center, an online consumer education resource on www.mastercard.com/sea/, to equip consumers with the fundamentals of personal finance management.  

Divided into three main sections namely Credit Wise, Debt Know-How and Staying Secure, the e-Learning Center provides cardholders with various money tips and tools. They range from ways to use credit wisely, how to get out of debt, the function of a credit report, a quiz on debt warning signs, a debt manager calculator as well as how to protect yourself from frauds that are related to credit card usage. The e-Learning Center has also set up Credit Wise FAQ and Glossary pages, which provides answers to common questions as well as succinct explanations on technical terms that credit card users may come across frequently.  

“There have been a rising number of consumers seeking advice from the Agensi Kaunselling dan Pengurusan Kredit (AKPK) on the best ways to manage their finances,” says Mohamed Akwal Sultan, Chief Executive Officer of AKPK.  “As such, we’re pleased to be working with MasterCard to provide a more consumer friendly approach to financial education,” he adds.  

Ajay Bhalla, Executive Vice President, Southeast and South Asia, notes that the credit card numbers in Malaysia has grown from 10.2 million in the first quarter of 2008 to 11 million in the same period in 2009. “The MasterCard e-learning Center, is thus extremely relevant in making financial management tools and advice easily accessible to both new and seasoned cardholders alike, on a platform that is growing in popularity,” he says.