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Thread: No minimum pay needed for new credit card

  1. #41

    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by Drudkh View Post


    White gold different from 白金 what. =(

    And even if you say the latter, must state explicity what you're talking about!

  2. #42
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    Default Re: No minimum pay needed for new credit card

    Where got social problems and debts? How much debts can a $500 credit limit create? If really cannot pay, parents will pay... the max that can roll over is only $500 right?

  3. #43

    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by JillValentine View Post
    Where got social problems and debts? How much debts can a $500 credit limit create? If really cannot pay, parents will pay... the max that can roll over is only $500 right?
    "How much debts can a $500 credit limit create?"

    Read the interest rate - it "robs" you of your financial freedom.

    Even if it is not , it will cultivate a habit of borrowing first to spend.


    "If really cannot pay, parents will pay"
    Now i am worry that is one of the main reason for social problems and debts.

    If average pple, esp youngster have financial literacy and respnsible for the *own* finance, then there is little worry. In fact , a credit card can be of great usage.

    However, if people use their future savings for current careless expenditure through credit, it may lead to mounting debts. Worse, if a teenager expect "parents will pay" when they themselves cannot pay - the consequences will be dire when these kids grew up.
    Last edited by kitkat; 22nd July 2007 at 09:10 AM.

  4. #44
    Senior Member wrx_sti_22b's Avatar
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    Default Re: No minimum pay needed for new credit card

    In the article in Strait Times... the youngster interviewed said he will definately want to have one as he can buy the $399 Hugo Boss shirt straight away instead of saving $150 a week & then buy it, by the time he have the money... gone.

    Oh my gosh... so young boy only this materialistic & this kind of mentality. Terrible.

  5. #45
    Senior Member Canew's Avatar
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    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by JillValentine View Post
    If really cannot pay, parents will pay... the max that can roll over is only $500 right?
    Quote Originally Posted by wrx_sti_22b View Post
    In the article in Strait Times... the youngster interviewed said he will definately want to have one as he can buy the $399 Hugo Boss shirt straight away instead of saving $150 a week & then buy it, by the time he have the money... gone.

    Oh my gosh... so young boy only this materialistic & this kind of mentality. Terrible.
    My oh my, what goes through the minds of the younger generation nowadays? I worry for the coming generation(s).

  6. #46
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    Default Re: No minimum pay needed for new credit card

    I dun understand older generation, it is just a card! As if it is something that can destroy our lives.

  7. #47

    Default Re: No minimum pay needed for new credit card

    The card is innocent. It is greed and lack of self control that destroy the user.
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  8. #48

    Default Re: No minimum pay needed for new credit card

    i'm of the younger generation
    but to me, i'm already afraid of the card
    seein so many older people who am close with, got affected by the debts they owe to the credit card company
    is not worth it
    i rather save den spend
    not spend den save
    e feeling is realli sian to get chase for money

  9. #49
    Senior Member Canew's Avatar
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    Default Re: No minimum pay needed for new credit card

    Smart of you to think so, icestrike.

  10. #50

    Default Re: No minimum pay needed for new credit card

    Can't wait to get my card!!!

  11. #51
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    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by JillValentine View Post
    Where got social problems and debts? How much debts can a $500 credit limit create? If really cannot pay, parents will pay... the max that can roll over is only $500 right?
    It all starts small, thats why they are introducing this card, get the young get a feel of how it is having a card...then when they have a higher paid job, they can get these people to get a higher limit card, and thats when the problem starts for SOME. If you can't control your spending..........

    Luckily there is a twice your payroll limit here in Singapore, but if one has multiple cards, you have all these limits that adds up together to a huge sum.

    And 'parents will pay', are you going to ever stand on your own feet? Part of growing up is to not depend on your parents!

    HS

  12. #52
    Senior Member wrx_sti_22b's Avatar
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    Default Re: No minimum pay needed for new credit card

    I got a friend whom got a few credit cards... maybe 5... all maxed out... imagine his $4K+ a mth pay. Each card owns abt $8K. So 5 cards will be $40K+... Every mth he tries to pay as much as possible, though of course he must pay the minimum for each card... so he has a financial plan... only settle his debt in 2012 or something... imagine we can spend our bonus, he cannot... any extra money or small windfall (maybe small sums of 4D earnings) he must use it to pay his credit debt... i already advise him to leave all the cards at home, & keep them away...

  13. #53

    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by wrx_sti_22b View Post
    I got a friend whom got a few credit cards... maybe 5... all maxed out... imagine his $4K+ a mth pay. Each card owns abt $8K. So 5 cards will be $40K+... Every mth he tries to pay as much as possible, though of course he must pay the minimum for each card... so he has a financial plan... only settle his debt in 2012 or something... imagine we can spend our bonus, he cannot... any extra money or small windfall (maybe small sums of 4D earnings) he must use it to pay his credit debt... i already advise him to leave all the cards at home, & keep them away...
    so scary!!! what did he buy??? I cannot imagine what are the things that caused so much money...cannot be buying jewel, diamonds every time right???

  14. #54
    Senior Member wrx_sti_22b's Avatar
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    Default Re: No minimum pay needed for new credit card

    It has something to do with his car, full expensive bodykit with expensive sports exhaust & expensive xenon main bean conversion & expensive LED rear lamp conversion & sporty dampers & suspension & front rear anti roll bar & i dunno wat else...

  15. #55
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    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by wrx_sti_22b View Post
    It has something to do with his car, full expensive bodykit with expensive sports exhaust & expensive xenon main bean conversion & expensive LED rear lamp conversion & sporty dampers & suspension & front rear anti roll bar & i dunno wat else...
    ask him to sell away his car & etc to repay debt and start all over again
    That may be an acute pain but less painful in long run.
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  16. #56
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    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by wrx_sti_22b View Post
    I got a friend whom got a few credit cards... maybe 5... all maxed out... imagine his $4K+ a mth pay. Each card owns abt $8K. So 5 cards will be $40K+... Every mth he tries to pay as much as possible, though of course he must pay the minimum for each card... so he has a financial plan... only settle his debt in 2012 or something... imagine we can spend our bonus, he cannot... any extra money or small windfall (maybe small sums of 4D earnings) he must use it to pay his credit debt... i already advise him to leave all the cards at home, & keep them away...
    can earn $4k a month but salary is to pay debts ? this is a big waste in life.

    with $4k a month, in one year u can maintained 2 life insurance policies, open 2 fixed deposits, invest into some stocks, buy some new lenses and go for weekend model shoots, buy some herbal tonics, go for overseas tours etc..

    i rather be a slave to my wholesome hobby than to the banks.
    Last edited by raincool2005; 24th July 2007 at 04:21 PM.

  17. #57
    Senior Member wrx_sti_22b's Avatar
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    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by zcf View Post
    ask him to sell away his car & etc to repay debt and start all over again
    That may be an acute pain but less painful in long run.
    Oh, i checked out for him then... sell away the car only meant no more installments to pay but won't get back any money... or any money out of it...

  18. #58
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    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by wrx_sti_22b View Post
    Oh, i checked out for him then... sell away the car only meant no more installments to pay but won't get back any money... or any money out of it...
    At least he won't need to pay so much in instalment also.... or change to a cheaper car if necessary.

    He probably need a financial adviser or someone to do the math for him
    Like how much will the different of interest cost in 5 or 10 year time, with or without the car etc.

    Thought there are some lower interest rate though those cash line, bank loan etc. Hope he have utilise those option to cut down the credit card's 24% interest rate per year. And cancel the credit card one by one when the debt are cleared.
    Last edited by zcf; 24th July 2007 at 06:01 PM.
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  19. #59
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    Default Re: No minimum pay needed for new credit card

    Parents slam new credit card scheme

    http://www.straitstimes.com/Latest+N...6.html?vgnmr=1

  20. #60

    Default Re: No minimum pay needed for new credit card

    Quote Originally Posted by kitkat View Post
    Yes , mandarin hotel.
    Good counter..............! Paul I think you have to be more creative than that.

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