%CB! Bank - Second Class bank with Third Class Credit System

• edenboy

  6 Apr 05, 11:20

  Dear All,
  For those that are intending to take a credit card or any form of loan from the above mentioned Bank, I advise you not to.
  
  They are nothing more than legal loan shark.
  Their credit system is based on 1940s banking system, Based on O$P$.
  
  I would advise to take from other Banks.....
  
  Let's hear all your experiences.
  
• sweetie05

  6 Apr 05, 11:25

  sorry, what is the bank? there is no name mentioned...
• edenboy

  6 Apr 05, 11:37

  Originally posted by sweetie05:

  sorry, what is the bank? there is no name mentioned...

  Only Can Borrow Coins Bank
• av98m

  6 Apr 05, 13:24

  Too late. My housing loan is from them.
• elindra

  6 Apr 05, 13:25

  Originally posted by edenboy:

  Dear All,
  For those that are intending to take a credit card or any form of loan from the above mentioned Bank, I advise you not to.
  
  They are nothing more than legal loan shark.
  Their credit system is based on 1940s banking system, Based on O$P$.
  
  I would advise to take from other Banks.....
  
  Let's hear all your experiences.
  

  I find them ok. No issues with them.
  Anyway, it is the same for all banks
  O$P$
  If you are prompt with payments I don't see why that should be an issue
• Desert Fox

  6 Apr 05, 13:27

  They are nothing more than legal loan shark.
  Their credit system is based on 1940s banking system, Based on O$P$.
  
  Let's hear all your experiences.
  

  You mean you dun have to pay $ with your loans from other banks?
  Maybe you can share your personal experience with the bank.
• edenboy

  6 Apr 05, 13:35

  Approached them to restructure my debt with them.
  Unlike other banks who were will to restructure the loan to a term loan,
  they came up with some stupid proposal that I should pay 50% upfront before they reconsider. What a dumbass. If I had that kind of money I would pay them off immediately.
  
  So far if you can meet their payments, you are okay...
  wait till you get into trouble. for example getting laid off. You will then see their true colours.
  
  Remember, there is no job security nowadays... you may laugh at my situation now, but in future, anybody can get into this problems.
  
  Look around your friends, Do they hold more than one card?
  Most likely they are rolling over from Bank to Bank.
  The interest rates for Credit Card is 2% per month.......
  Imagine how much are you paying for interest if you roll over 10k per month.
  
  
• FireIce

  6 Apr 05, 17:04

  if u can't afford, dun get a card!
  
  simple
  
• Rockhound

  6 Apr 05, 17:06

  cards should be used as a form of 'in case of emergency...break glass' kinda thing...
• av98m

  6 Apr 05, 17:11

  Originally posted by edenboy:

  So far if you can meet their payments, you are okay...
  wait till you get into trouble. for example getting laid off. You will then see their true colours.
  
  

  haiz...all banks are like that what.
• dzylim

  6 Apr 05, 17:17

  Originally posted by FireIce:

  if u can't afford, dun get a card!
  
  simple
  

  i cant agree on a better advise
• pqr

  6 Apr 05, 17:32

  Originally posted by dzylim:

  i cant agree on a better advise

  to be able to get a card means got 30k per year already...so it not abt affording but rather controlling your swiping of cards