DBS - Change of Credit Card terms

• diggo

  4 Sep 06, 11:42

  Just wondering whether this is allowed?
  
  Credit card use to come with a 30 days credit terms. ie if your bill is at the 20 Jan, you got till 20 Feb to pay up or you incurred late payment charges/interest charge.
  
  Now DBS sneakily (says that they updated it in a printed statement.. who does that when ppl r using internet banking) reduce the period to only 20 days.
  
  So there is 10 days credit taken off... hypotically, it means if you owe the bank SGD 1,000, they will earn an additional SGD 6.50 (1,000*.24*10/365).
  
  What are the recourse for this? Or do I cut off the credit and go to another bank that offers 30 days credit?
• Ah Cek

  4 Sep 06, 11:44

  just pay off before the due date. this will solve the problem.
• BufPuf

  4 Sep 06, 11:48

  i do agree. Pay off before your due date
  
  Some people just like to stretch their $$ to the latest date.
  
• oldbandit

  4 Sep 06, 13:05

  If u feel that whichever banks is treating u unfairly u can seek redress from MAS
• diggo

  4 Sep 06, 14:01

  Originally posted by Ah Cek:

  just pay off before the due date. this will solve the problem.

  Paying off is not the issue here...
  
  The issue is the reduction of credit terms. It is like giving your customers a 30 days credit and then out of nowhere, they demand COD.