Anyhow it is true that card owner pay for the subscription in early day as it was still something exclusive and peolpe don't mind.....but not anymore now......unfortunately bank still retain this requirement and I guess it must be due to some regulatory issues such as anti competitive act etc....so they will do it on case by case basis or use it as bargaining power such as trading your reward point etc
So smart card holder should monitor your annivesary and redeem everything before it's due...incase they do not give in then you can jolly well terminate the card without much lost
is POSB still offering the old debit card? The new GO card cannot be used for online or phone purchases
- Credit card and debit card are technically the same thing, it function exactly the same, the only different is the term of use and legal constraint impose by the bank. Just that you agree to allow the bank to deduct the money from your saving account for debit card for Credit card, you agree to pay the bank by certain time. In certain European countries, debit cards are more popular than credit card.
- there is a trends that magnetic cards are slowlyreplaced by smart chip especially European countries. If you use mag strip card in Europe, you might need to produce your identity to prove who you are.