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Thread: Credit Card Charges

  1. #61
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    frankly speaking i can think of no reason to ever get a credit card...it just adds to one's liability. the only thing that might be useful is when u're travelling and u dun have have enuff currency of that country then maybe its useful in that sense (if u say u wanna use it buy online stuff but theres also the debit card). but otherwise i think its juz a ego thing with regards to having one. whats wrong with paying using good old cash or nets? u pay with what u know u have.

  2. #62
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    Originally posted by Mystix
    frankly speaking i can think of no reason to ever get a credit card...it just adds to one's liability. the only thing that might be useful is when u're travelling and u dun have have enuff currency of that country then maybe its useful in that sense (if u say u wanna use it buy online stuff but theres also the debit card). but otherwise i think its juz a ego thing with regards to having one. whats wrong with paying using good old cash or nets? u pay with what u know u have.
    This is call cash flow management.

    It may be ego for some but it is quite useful in handling unexpected cashflow.

    Some people just have different life style habits so this "ego" thing is just your own opinion.

    I believe it is perfectly fine as long as you have the self discipline to spend within your means.

  3. #63
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    Originally posted by Mystix
    frankly speaking i can think of no reason to ever get a credit card...it just adds to one's liability. the only thing that might be useful is when u're travelling and u dun have have enuff currency of that country then maybe its useful in that sense (if u say u wanna use it buy online stuff but theres also the debit card). but otherwise i think its juz a ego thing with regards to having one. whats wrong with paying using good old cash or nets? u pay with what u know u have.
    Debit card may not be accpeted in all places.

    I was using the debit card happily until I there were severalplaces that I could not use the debit card. One of it was local physical transaction!

  4. #64
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    if u have proper financial planning there should be some reserve funds for u to tap into should this 'cash flow problem' comes up.
    i still think having a credit card is juz more of a want rather than a need. at the end of the day all u do is to incur more unnecessary debts.
    but of coz like wat zekai said.. this is juz my opinion.

  5. #65
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    I used to travel a lot regionally. Have several CCs are critical. I've maxed out on cards while on work issues and it is no joke that without it, you can't survive. Hotel + food + others expenses on foreign currency in a strange place? Must be a risk-lover...

    I've also paid for dinners, drinks, etc that I can pay back but when I go out, I don't carry lots of cash nor want to risk carrying cash. In SG, the government discourages people using CC. Instead, the government set up NETS and all that to satisfy this need. Also, in SG, it is safe (relatively) to walk around with cash, but elsewhere...

    That is also why they are not stopping all these charges and all that. Overseas, no such rubbish. As I had said, I had topped up my transit card in NYC with $5 using my card.

    That said, financial prudency is a must...
    Last edited by Watcher; 11th May 2003 at 02:57 PM.

  6. #66

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    Originally posted by Watcher
    The Citycab one is real; it came out on the papers. That is why I switched. I travel a lot on cabs for my company and where I work (Science Park I), I sometime run out of cash (about $50-60 of cabfare a week! ).

    As I don't want the hassle, I switched from a Citycab supporter to a frequent Comfort user. All Comfort cabs have the machine to handle the transaction and they CANNOT reject a request to use a card. Of course, my company not happy, but it is only during rare occasion, once or twice a month only so...
    Me too, racked up at least $400 worth of taxi charges each month, sometimes even higher.

    I try to avoid Tibs, whenever I can, as their receipts are so small and narrow like cashier's receipt, so difficult for me to write the "from" and "to" on it. (company policy) and so difficult to staple it together.

    CityCab's have larger receipts, but the biggest I have ever gotten is from those Mercedes Cabs.

    I wished my company will issue me a coporate cab card to charge the rides to the card directly instead of me, forking out $400+ each month then filling claims to get back my money next month, only to spend it on cabs again.

    Endless cycle.

  7. #67

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    Originally posted by Watcher
    I used to travel a lot regionally. Have several CCs are critical. I've maxed out on cards while on work issues and it is no joke that without it, you can't survive. Hotel + food + others expenses on foreign currency in a strange place? Must be a risk-lover...

    I've also paid for dinners, drinks, etc that I can pay back but when I go out, I don't carry lots of cash nor want to risk carrying cash. In SG, the government discourages people using CC. Instead, the government set up NETS and all that to satisfy this need. Also, in SG, it is safe (relatively) to walk around with cash, but elsewhere...

    That is also why they are not stopping all these charges and all that. Overseas, no such rubbish. As I had said, I had topped up my transit card in NYC with $5 using my card.

    That said, financial prudency is a must...
    I have read of local bank's (like DBS, UOB, OCBC, OUB) credit cards are not accepted in certain countries as they are worried about Singapore's fraud record.

    There was 2 letters to the Forum in the Straits Times, complaining abt the DBS's Credit Card, the cardholder tried to use it in Japan's Disneyland and was asked if he had another card instead.
    In the end, they (disneyland) accepted his American Express.

    The same thing happened for another cardholder of DBS's cards in a Japanese resturant in Japan.

    My friend encountered the same problem for an American online store with his DBS/POSB Credit Cards.

    That's why I think if I get Credit cards, I would rather choose foreign banks with a worldwide reptuation or branches everywhere so it's more likely to be accepted.

    Like HSBC, Standard Chartered or Citibank.

  8. #68
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    Interesting discussion.

    Me, I got my credit card to facilitate use when I travel and to charge online purchases when I was studying at NTU. In Singapore, I won't use it to pay for electronic stuff like PC parts and cameras, simply because NETS and ca$h serves the role better. Of course I also want to save that +4%...

    I shopped around back then (1997) and opted for a StanChart card cuz it was a global bank. That makes life easier if I choose to travel overseas. Of course, back then there was a StanChart package for NUS alumni that waived fees for the 1st 2 years. Now the card is mostly for dining out, occasional travel and the very rare online purchase. I can't use it for taxi fares bcuz I seem to have this ridiculous jinx of getting cabs with card readers that crash only for my trips.

  9. #69

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    Originally posted by Azure
    Interesting discussion.

    Me, I got my credit card to facilitate use when I travel and to charge online purchases when I was studying at NTU. In Singapore, I won't use it to pay for electronic stuff like PC parts and cameras, simply because NETS and ca$h serves the role better. Of course I also want to save that +4%...

    I shopped around back then (1997) and opted for a StanChart card cuz it was a global bank. That makes life easier if I choose to travel overseas. Of course, back then there was a StanChart package for NUS alumni that waived fees for the 1st 2 years. Now the card is mostly for dining out, occasional travel and the very rare online purchase. I can't use it for taxi fares bcuz I seem to have this ridiculous jinx of getting cabs with card readers that crash only for my trips.
    Ha ha, even if the readers don't crash, you won't want to pay via CC due to the surcharge.

    I have seen some cabs drivers who know how to "pay via Credit card" but not using "Cashcard" and some of them is the reverse. only know how to use the reader for Cashcard and not Credit Card.

    I only paid for my cab fare once using Credit Card as I discovered to my horror that I forgot the draw money and the place I was going to do not have ATM.
    Some more rushing for time, so no choice. The driver was so inexperienced in using the machine that he swiped my card several times and with so much "strength" and when I got back my card and alighted from the cab.

    I realised there was a long scratch mark on the back of my card.
    However it's not on the magnetic strip so it's still useable.

  10. #70
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    Used my cc to purchase airticket from chan brothers. Was knowingly charged 2% extra. Is this normal for all travel agencies?

    Online airfares booking/payment companies don't even impose the extra charge

  11. #71

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    From what I understand, the 2% is to cover the Free travel insurance u usually get when u charge your air tickets to your credit card. That's what an travel agent told me..not sure if it's true though

    Originally posted by kristlbel
    Used my cc to purchase airticket from chan brothers. Was knowingly charged 2% extra. Is this normal for all travel agencies?

    Online airfares booking/payment companies don't even impose the extra charge

  12. #72
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    Originally posted by anthony.phua
    From what I understand, the 2% is to cover the Free travel insurance u usually get when u charge your air tickets to your credit card. That's what an travel agent told me..not sure if it's true though
    No. As I had mentioned, there are charges that the merchant pay for a transaction. It varies card to card, but 2% is about right. This is permitted by CASE as they have deemed travel related items (tickets, hotels, etc) to have little margins and that to make the agent, who currently have very little commission, to foot the bill is difficult. Let me guess, you used a VISA or MC right? Their surcharge is around that amount.

    The reason why when you order online, especially for US sites or airline sites is that they have lower cost of operation and in the case of airlines, already earning money from the sale of the ticket itself...

  13. #73
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    Originally posted by Watcher
    No. As I had mentioned, there are charges that the merchant pay for a transaction. It varies card to card, but 2% is about right. This is permitted by CASE as they have deemed travel related items (tickets, hotels, etc) to have little margins and that to make the agent, who currently have very little commission, to foot the bill is difficult. Let me guess, you used a VISA or MC right? Their surcharge is around that amount.

    The reason why when you order online, especially for US sites or airline sites is that they have lower cost of operation and in the case of airlines, already earning money from the sale of the ticket itself...
    ok that's clearer

    so the insurance thing isn't true?

  14. #74
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    I agree with Watcher, that the 2% extra is for cc charges. Otherwise, we should opt out of buying insurance that comes with using the cc and buy our own travel insurance.

    As far as I understand, insurance comes free if you pay by cc (gold card).

    The travel agent probably said this as a way to make it easier for you to swallow.

  15. #75

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    Well..if u buy via airline tickets via airline website, the airline save on commission given to the travel agents..so they can "absorb" the credit card charges for u..

    Originally posted by Watcher

    The reason why when you order online, especially for US sites or airline sites is that they have lower cost of operation and in the case of airlines, already earning money from the sale of the ticket itself...

  16. #76

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    Originally posted by Winston
    Ha ha, even if the readers don't crash, you won't want to pay via CC due to the surcharge.

    I have seen some cabs drivers who know how to "pay via Credit card" but not using "Cashcard" and some of them is the reverse. only know how to use the reader for Cashcard and not Credit Card.

    I only paid for my cab fare once using Credit Card as I discovered to my horror that I forgot the draw money and the place I was going to do not have ATM.
    Some more rushing for time, so no choice. The driver was so inexperienced in using the machine that he swiped my card several times and with so much "strength" and when I got back my card and alighted from the cab.

    I realised there was a long scratch mark on the back of my card.
    However it's not on the magnetic strip so it's still useable.
    Why don't you call your bank and say that you suspect that your credit card is faulty? Maybe drop some hints like "I'll use my other card from bank y in the meantime". If you're a good spender, just imagine how fast they'll send you a spanking new replacement.

  17. #77
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    Originally posted by Mystix
    frankly speaking i can think of no reason to ever get a credit card...it just adds to one's liability. the only thing that might be useful is when u're travelling and u dun have have enuff currency of that country then maybe its useful in that sense (if u say u wanna use it buy online stuff but theres also the debit card). but otherwise i think its juz a ego thing with regards to having one. whats wrong with paying using good old cash or nets? u pay with what u know u have.

    mystix, actually there are alot of other good reasons....

    One of them is to get freebies...seen too many of such pple...

    My gf used to work in Citibank, and told me that alot of pple sign up for freebies, cos when she called them up, they said, "aiya, tat time i sign becos i wanted to get the freebies mahz" if not its the discount at some places cardholders get.....

    In short, i feel if ur pocket allows and u dun feel the pinch, just use the card....

    Using ur card is a good way to maintain good relationship with banks....esp if u are a good paymaster....

    Cos the banks normally lends u the umbrellas when it shines n takes it away when it rains....hence with good relationship, one might b able to get help when in financial need. jus imho after hearing some friends' incidents

  18. #78
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    Originally posted by zekai
    when i was an insurance agent, if my client pay premium by credit card.

    I actually absorb 2%. Meaning 2% deducted from my commission.

    My client never knew about it, maybe they think my insurance company absorb, haha. It was actually me.

    just extra information
    reason u absorb also to keep them mahz...rite?

    heard some agents went as far to pay premiums for their clients first....for some mths when their clients are tight...

    but hear say oni dunno true or not...

  19. #79
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    Originally posted by Revo
    reason u absorb also to keep them mahz...rite?

    heard some agents went as far to pay premiums for their clients first....for some mths when their clients are tight...

    but hear say oni dunno true or not...

    I absorbed 2% because thats company policy and anyway why haggle over 2%. This is a relationship biz.

    That is illegal but yes it is practised.
    You will lose your license if caught.

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