Override2Zion
Senior Member
Credit cards with low limits would probably be good, at times they can be useful when you do buy stuff online or at dine at mid/high end restaurants. They are a good alternative to debit cards.
No minimum pay needed for new credit card
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vince123123
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wrx_sti_22b
Senior Member
Could come into good use for holidays for those that doesn't have credit cards...
wrx_sti_22b
Senior Member
That is, if the person has already many cards that is near to, or over limit... maybe if there are 4 banks that offers this type of no minimum income credit cards, the person apply all at once leh? Maybe he can get all of them? :bsmilie: I dunno, just spectaculating... Then this person has got $500 x 4 at his dispose... he will feel rich... :bsmilie:
Harry Potter
New Member
Banks need to pay admin fee to check from credit bureau right??? so dun think banks will be checking every credit card application...
Override2Zion
Senior Member
Agree on the convenience of debit cards, no bill payments. I only feel insecure when it comes to handling frauds. For debit, cash is debited almost immediately. If fraud was detected after receiving statement, will have a hard time waiting for bank to investigate and get the cash back, if possible. For credit cards, at least during the course of investigation, my cash is still with me. Maybe its just me feeling insecure. Others may beg to differ. Just a matter of preference
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vince123123
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Let me offer an alternative view on this.
WIth debit cards, you can choose to set your credit limit or fraud exposure as you wish. I currently have less than S$100 in my debit card which I use for Internet purchases. If I need to buy more, I just transfer $$ from another account and buy.
With credit cards, your credit limit may be much higher - typically in the thousands - hence even though theoretically you can dispute the bill, but if the cc company decides against you, you may have a problem there. Credit card limits are also more troublesome to adjust upwards and downwards.
WIth debit cards, you can choose to set your credit limit or fraud exposure as you wish. I currently have less than S$100 in my debit card which I use for Internet purchases. If I need to buy more, I just transfer $$ from another account and buy.
With credit cards, your credit limit may be much higher - typically in the thousands - hence even though theoretically you can dispute the bill, but if the cc company decides against you, you may have a problem there. Credit card limits are also more troublesome to adjust upwards and downwards.
Agree on the convenience of debit cards, no bill payments. I only feel insecure when it comes to handling frauds. For debit, cash is debited almost immediately. If fraud was detected after receiving statement, will have a hard time waiting for bank to investigate and get the cash back, if possible. For credit cards, at least during the course of investigation, my cash is still with me. Maybe its just me feeling insecure. Others may beg to differ. Just a matter of preference
Override2Zion
Senior Member
Yes but wouldn't transferring cash into debit card account become similar to paying bills for credit cards :dunno:? That cancels the convenience factor.
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vince123123
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The convenience comes from having the ability to set your own withdrawal limits.
In a creidt card situation, it is more troublesome to change your credit limits.
And in a credit card situation, if the cc company after their investigation, find you are liable, then you have a debt to pay off. With a debit card, the fraudulent transaction will not even happen in the first place because your account balance is too low to allow the purchase to go through.
In a creidt card situation, it is more troublesome to change your credit limits.
And in a credit card situation, if the cc company after their investigation, find you are liable, then you have a debt to pay off. With a debit card, the fraudulent transaction will not even happen in the first place because your account balance is too low to allow the purchase to go through.
Override2Zion
Senior Member
Yeap true too, another alternative is to instruct credit card companies to contact you whenever an internet transaction takes place. At least thats what I do for my cards and their pretty "vigilant" about it too :bsmilie:
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vince123123
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I didn't know that cc comapnies will take on that type of liability to call you each time.
However, the end result is the same, even if you say you didn't do it, but they will still put it in the bill until they investigate finish. At that time, if they don't believe you and still said you did it, then you're back to square one.
Also, your trick doesn't quite help in cases of non-internet transactions (ie your account got stolen on the internet, but is used for non-internet purchases).
However, the end result is the same, even if you say you didn't do it, but they will still put it in the bill until they investigate finish. At that time, if they don't believe you and still said you did it, then you're back to square one.
Also, your trick doesn't quite help in cases of non-internet transactions (ie your account got stolen on the internet, but is used for non-internet purchases).
Override2Zion
Senior Member
Actually CC companies don't pay the merchants immediately when a purchase is made, otherwise transaction overheads would rocket sky high. This process takes a while. If customer says its a no go, no transaction will take place. That happened to a ex-classmate of mine before while he was on attachment to china. Simply because internet CC purchases are so convenient, CC companies exercise more caution in monitoring such transactions.
By the way, i don't understand how CC account on internet can be stolen and used to make non-internet purchases? Perhaps you could elaborate with an example. From what I understand, offline purchases requires signature. :dunno: Anyway that applies to debit cards too, products and service reservations can be done online using credit/debit card details even when theres no cash in the account. Take domestic air tickets for example, reserved using credit/debit cards. Airlines nowadays allow CC/DC for reservation and pay later either by same card or cash. In event of no show of passenger (when "thief" realises that there is no cash in bank), you are still liable for paying for the service. This can still happen even when you have no cash in that debit acount. So its a matter of circumstance, both cards have their flaws, like i say its individual preference.
Override2Zion
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sgvideoman
Deregistered
:bigeyes::bigeyes:
S$400 for a shirt! Good heavens! I always look for S$5 shirts myself. Is a shirt costing S$400 really necessary?
raincool2005
Senior Member
i will support this card thingy ONLY if it entitles to 20% discount on all items in MS color, Cathay Photo, Alan Photo, Orient Photo etc.. ;p
with DC, your limit still $500 or above, unless u dun mind paying $2 every month (or your account no fall-below fee)
with CC, when u buy things, u dun pay immediately. therefore the money u spent can earn u interest for up to 50 days. just remember to put aside the money for payment when the bill comes
most people dun check signature, but still need the physical card to pay for non-internet transaction as you dun just enter the numbers onto the machine, there is a sepereate sequence on the magnetic card. unless the thief steal this info on the magnetic strip
with CC, when u buy things, u dun pay immediately. therefore the money u spent can earn u interest for up to 50 days. just remember to put aside the money for payment when the bill comes
most people dun check signature, but still need the physical card to pay for non-internet transaction as you dun just enter the numbers onto the machine, there is a sepereate sequence on the magnetic card. unless the thief steal this info on the magnetic strip
Harry Potter
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