Lowered Credit Card Qualification?
-
Heard from a bank officier that in July, credit card applications will be easy as the minimum salary per annum required will be lowered. He says monthly will be around 1.7K can apply already. Now just awaiting approval from MAS. Anyone know about it
-
It was in the papers sometime back
-
yes.....
more and more ppl can sign up
and more and more ppl will chalk up bills
and banks will face more and more bad debts
credit card no longer have the prestige.
even gold and platinum cards oso anyhow give out now -
so, more bad debts for banks = bank stock prices plunged = sg economy hurt
-
Yeah lor, a friends friend earning normal salary got a platinum card due to connections (heard as long as earning commision ok le)Originally posted by FireIce:yes.....
more and more ppl can sign up
and more and more ppl will chalk up bills
and banks will face more and more bad debts
credit card no longer have the prestige.
even gold and platinum cards oso anyhow give out now -
zzz more temptation for a group of people that really is not financial savvy enough to understand the traps of a credit card
more bankruptcy? -
Good for those who've enough money but the pay isn't sufficient or works with commission. But bad for those who're unable to work and pay for what they've bought.
-
Other than when going overseas booking hotels etc, there is really no necessity to have a credit card.
-
now using cash is more pretigious...forget credit card