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Thread: credit card

  1. #1

    Default credit card

    hw come someone ask mi to apply 1 credit card got 2 sent to mi and a cashline A/C??
    Last edited by kirkchua79; 19th February 2008 at 12:12 AM.

  2. #2

    Default Re: credit card

    English please............

  3. #3

    Default Re: credit card

    Quote Originally Posted by ninelives View Post
    English please............
    huh ?? not english enough???
    Applied for a credit card from DBS, then got another credit card from posb sent @ the same time and a cashline acc is chequebook from DBS. hw come buy 1 get 3 free???

  4. #4

    Default Re: credit card

    Did u selected any options?FYI POSB is owned by DBS
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  5. #5

    Default Re: credit card

    Quote Originally Posted by eosdigital View Post
    Did u selected any options?FYI POSB is owned by DBS
    i dont think so., the courier just come my house i just sign then tada, so many cards.
    buay tahan. wallet too thick leow. dun activate the card at ATM means cannot use right?

  6. #6

    Default Re: credit card

    Cards are free to give out by the bank, when you sign, they make $$$ so the more they give out the more $$$ they make and not forgetting about the yearly subscription fee which they collect
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  7. #7
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    Default Re: credit card

    the sales person who persuaded you to sign will earn commission per card. (i.e. $5-$10 per card). although you say you only sign for one, but the form would be pass back to the sales person and he/she will tick more options without you knowing. then the bank will send you the 2 cards and cashonline. this is a common tactic used by the sales person. so do call the bank to cancel the extra card and cashonline if you don't really need it
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  8. #8

    Default Re: credit card

    Usually that's the case - One Visa card, One MasterCard, and One overdraft account BUT your total credit limit for all three remains the same.

    My usual advice (ahem!) to youngsters starting out and getting their first credit cards - It should only be used for emergencies or when you're overseas and have no access to immediate cash. Do not spend the money and think that you can pay the minimum on a monthly basis. The interest will kill you eventually. Spend wisely.

    Have a good week ahead!
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  9. #9

    Default Re: credit card

    Quote Originally Posted by Hitman View Post
    Usually that's the case - One Visa card, One MasterCard, and One overdraft account BUT your total credit limit for all three remains the same.

    My usual advice (ahem!) to youngsters starting out and getting their first credit cards - It should only be used for emergencies or when you're overseas and have no access to immediate cash. Do not spend the money and think that you can pay the minimum on a monthly basis. The interest will kill you eventually. Spend wisely.

    Have a good week ahead!
    My advice to youngsters is don't own any credit cards. Just get a Debit Card which is spend what you have in the bank (still can use it in overseas as it's a form of card which you can sign like a VISA/MASTER)

    Seen a few that earn $3,000 a month but spend $6,000. After that ask money from parents because they can't pay their credit card bills.

  10. #10
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    Default Re: credit card

    Quote Originally Posted by Godzilla Invades View Post
    My advice to youngsters is don't own any credit cards. Just get a Debit Card which is spend what you have in the bank (still can use it in overseas as it's a form of card which you can sign like a VISA/MASTER)

    Seen a few that earn $3,000 a month but spend $6,000. After that ask money from parents because they can't pay their credit card bills.
    I wonder why banks do not impose a tighter credit limit for the youngsters, example credit limit = 1 month salary.

  11. #11

    Default Re: credit card

    Quote Originally Posted by Astin View Post
    I wonder why banks do not impose a tighter credit limit for the youngsters, example credit limit = 1 month salary.
    They do for expats on an EP. But for PRs, it's normally 2x monthly salary. For locals i'm not too sure.
    Alpha

  12. #12

    Default Re: credit card

    Quote Originally Posted by Hitman View Post
    Usually that's the case - One Visa card, One MasterCard, and One overdraft account BUT your total credit limit for all three remains the same.

    My usual advice (ahem!) to youngsters starting out and getting their first credit cards - It should only be used for emergencies or when you're overseas and have no access to immediate cash. Do not spend the money and think that you can pay the minimum on a monthly basis. The interest will kill you eventually. Spend wisely.

    Have a good week ahead!

    Bro, think not exactly correct on the limit cap. Under the same bank all credit cards fall under the same credit limit no matter how many you hold. But the overdraft account will be a separate limit so in theory let's say a person earns a salary of $2500/mth and gets granted the max limit, it will be $5000 credit card + $5000 od a/c. That's why many first time card holders go wild and fall into the credit trap. Agree 100% that everyone should spend wisely. Anyone please correct me if wrong.

  13. #13
    Senior Member josho's Avatar
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    Default Re: credit card

    activation of card is for your cashline card? Just key in your PIN code. I dun use it. Keep in safe place better.

  14. #14

    Default Re: credit card

    Quote Originally Posted by Godzilla Invades View Post
    My advice to youngsters is don't own any credit cards. Just get a Debit Card which is spend what you have in the bank (still can use it in overseas as it's a form of card which you can sign like a VISA/MASTER)
    Best advice.

    But well... being young, they won't just listen

  15. #15
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    Default Re: credit card

    Whenever you are about to purchase something with a credit card, make sure you have an equivalent amount in "cash reserve" available somewhere. This way, you will ensure that you will be able to settle the credit card bill later.

    Don't use credit card on purchases that you do not have the "reserves" to pay for. This is financial suicide. The interest payments is going to eat you up.

    For redundant cards or credit facilities, my advice is to have them canceled. This will help in streamlining the management.

  16. #16

    Default Re: credit card

    Quote Originally Posted by amateur_photographer View Post
    Best advice.

    But well... being young, they won't just listen
    Well if they don't listen is ok, the problem is always those parents who just totally spoil their children. The only way is parents themselves have a strict control on their own cash to their own child. If they keep giving them, they are destroying their own child.

  17. #17
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    Default Re: credit card

    IR waiting for Kiddos who just got credit card with no self control.

  18. #18

    Default Re: credit card

    Quote Originally Posted by Astin View Post
    I wonder why banks do not impose a tighter credit limit for the youngsters, example credit limit = 1 month salary.
    because fiscal imprudence is not restricted to the young... nor are all youngsters fiscally imprudent... and as adults, if they can't take care of themselves, do they want a nanny to plan their spending for them?
    Last edited by theRBK; 21st February 2008 at 02:05 PM.

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