Credit Cards

[jw5]

Have you experienced having a credit card sent to you without having applied for it?
I find this rather disgusting, it's just like a company sends you a product and insists that you use it and pay for it. Even if the card has no initial annual fee, the card company will make money through commissions and may eventually charge a fee. It also imposes on you something that you may not want or do not need.
What can we do when we encounter such cases? Should we name the companies and the person(s) repsonsible for such acts, so as to shame them and prevent them for repeating such acts?

In addition, have you had credit cards for several years without annual fees and suddenly, an annual fee is imposed one year.
Recently, I encountered such a case and called up to cancel the card. The customer service officer immediately offered to waive the fee, but I rejected her politely and told her that it was too late. In future, don't impose the fee in the first place.

 

[BlueCat]

Have you experienced having a credit card sent to you without having applied for it?

In addition, have you had credit cards for several years without annual fees and suddenly, an annual fee is imposed one year.

this is now their marketing strategy,if you do not return mean that you accept it. this is use by some insurance companies before and credit cards issuing banks just follow. it was reported to CASE.

second case,must be those cards that offer 3-5 years of free membership's fees or those that stated that if you use it for a number of times during a year,the membership fee is free. POSB in the first case and MBB in the second case.

look like maybe for the particular card that want you to pay the annual fee,you have not use it for quite awhile.

for me,if any banks start imposing the annual fee,i will just cancel it and apply for others.
the banks are issuing a lot of different cards every year and each will come with annual fee,free for a year or two.

 

[High till Dry]

report to MAS. it works better keke

 

[Bodhisattva]

That card didn't cost much. Its the late charge fee on any outstanding sum that is the killer. They are hoping for more ppl to forget to make payment or can't pay in full to increase their profits. However, then why are they crying over defaults in payment when they hope that everyone pays late or misses payment?

 

[sibehtoolan]

This happens quite often.This's also very dangerous and risky.
Even my own credit cards are sent ordinary post. What security?
These credit people are terrible.Those bank people also terrible like the
uneducated housewife cheated of her $50K trusted funds! These young people now only think of making $$$$ hitting targets!!! Don't care whether father or mother dies!!! They just want to make a sales and earn more $$$$ This society is rotting to the core.

 

[chinkangkor]

That card didn't cost much. Its the late charge fee on any outstanding sum that is the killer. They are hoping for more ppl to forget to make payment or can't pay in full to increase their profits. However, then why are they crying over defaults in payment when they hope that everyone pays late or misses payment?

Crocodile tears?

 

[SammyHulk]

Companies or banks alike only out to earn profits and nothing else. They will do whatever they can within the law or loop holes if any (they will be seal up anyway) to make people part with their money.

 

[High till Dry]

i'm kinda surprised that now banks can disburse funds to you with verbal acknowledgement only

 

[mockingbird]

What can we do when we encounter such cases?

Cut the credit cards into halve.

 

[eeoror88]

Cut the credit cards into halve.

No. You should call up the Bank and ask where they got particulars and threaten to report to MAS. Then see what happens !!

 

[mockingbird]

No. You should call up the Bank and ask where they got particulars and threaten to report to MAS. Then see what happens !!

Any privacy protection act in S'pore?

If not, then it would be a waste of time.

 

[eeoror88]

Any privacy protection act in S'pore?

If not, then it would be a waste of time.

Ms birdee,

Scre then also gooh mah ??:

 

[sunny302]

No. You should call up the Bank and ask where they got particulars and threaten to report to MAS. Then see what happens

What an idiotic suggestion . Banks will share client(s) data with each other through CBS which has the support of MAS

Ms birdee,

Scre then also gooh mah ??:

U so free go scare them lor..perhaps they give u a prize for being so bodoh

 

[zhihau]

Have you experienced having a credit card sent to you without having applied for it?

i think the bestest deal is from Stan-Chart Credit Cards, they would automatically convert any charges to the card of more than SGD$500.00 into some 24 month low interest repayment scheme which runs at 5% pa, plus a 6% admin fee.

as thou' i'd like to keep myself into some debt repayment scheme of any sort, i simply kept the card inside a drawer.

 

[Ben225111]

the best is CASH payment.... the oldest form of payment..... got $$$$ then u buy..... no $$$$ dun buy...... better than u owe the bloody bank which charge u interest every month, and u r paying for nothing for the interest.... learn to train ur mind set.......

 

[joker88]

the best is CASH payment.... the oldest form of payment..... got $$$$ then u buy..... no $$$$ dun buy...... better than u owe the bloody bank which charge u interest every month, and u r paying for nothing for the interest.... learn to train ur mind set.......

Agree. Always buy only if you can afford and do not spend money that you do not have.

 

[congo9]

Have you experienced having a credit card sent to you without having applied for it?
I find this rather disgusting, it's just like a company sends you a product and insists that you use it and pay for it. Even if the card has no initial annual fee, the card company will make money through commissions and may eventually charge a fee. It also imposes on you something that you may not want or do not need.
What can we do when we encounter such cases? Should we name the companies and the person(s) repsonsible for such acts, so as to shame them and prevent them for repeating such acts?

In addition, have you had credit cards for several years without annual fees and suddenly, an annual fee is imposed one year.
Recently, I encountered such a case and called up to cancel the card. The customer service officer immediately offered to waive the fee, but I rejected her politely and told her that it was too late. In future, don't impose the fee in the first place.

Credit card is actually a very good tool to extend your credit. If you are given 60 days of credit by your supplier, you can use your credit card to further extend the playment period by another 55 days, using your CC to pay your supplier.

So all in all you get 60 days + 55 days of credit card.

Credit to business man is very important, use it wisely ! You can make a lot more money using what you have !

 

[fenwick]

Agree. Always buy only if you can afford and do not spend money that you do not have.

I agree with you too bro. But many just don't give a damn or think like that!:(

 

[Yoshitei]

Welcome to Singapore...

 

[theblackhole]

I don't care.They send me credit cards, I just spend and spend.I've no properties.I've nothing.I lost my job. I've no savings.So I just spend and spend the credit cards like a king. Care tell me what can happen to me? It's not my fault they continue to give me credit.It's not my fault. I can't afford to pay and I don't have a job and no income at all.So what can they do to me? Jail me? Sue me bankrupt? I got nothing - really nothing.So they send me credit, I spend lor! Amen!