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Fri, 03/07/2008 - 20:02
This is probably old news, the trend disappeared for a while, but now it is back!
Received a pre-approved credit card in the mail the other day (from a certain erring bank again) - all I had to do was sign & swipe my card! Yikes! Very dangerous.
A cheque came in the mail another week too, a cheque, all filled in & awaiting my signature, was for S$2,000 of "INSTANT CASH". Of coz the interest rates had to be printed there, abeit a very small print.
Any policies on such marketing practices out there to protect us consumers?
Actually i'm fairly tempted to use the extra thousand dollars i get. hehehe
Just found it pleasantly surprising as if i had earned the money. It's easy to make plans on how to use it, well then again i didn't know how the money was going back to where it was coming from...
I still keep the unsigned check though, might pull it out for a new plasma TV someday hehe
Well its quite common as banks have quota to meet, thats why targeting people like us with pre approved cards helps in a way for their quota ;)
Cheques with instant cash normally have an expiry date, if i'm not mistaken. received too much of those liao, interest rates given usually sucks...
The pre-written cheques are deadly. Don't ever cash them in.
You end up paying admin fees and interest on something you don't really need.
Come visit the Den of the Lion Investor.
For those who have applied for your card, pls also remember to check with the credit card company if you do not receive the card for a certain period of time. I have an experience that the credit card company sent the card and the pin to another address due to the company's administration error. Luckily, the person who received the card and pin was honest to return them back to the credit card company.
laiwf82,
Woh.... better look out.
Which credit card company. Is it a local or foreign bank.
I had one similar experience. I did not receive the credit card but the pin number by separate mail.
After about two weeks I ask them to send me a new one and had the lost card cancelled.
This one is not a Bank.
After about two weeks I ask them to send me a new one and had the lost card cancelled.
This one is not a Bank.
Is it Diners Club?
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
You are very lucky. That person is honest enough to return you. You could very well be a victim of identity fraud, and yourself saddled with debts because of unauthorized transactions.
Did you file a complaint? This is quite a serious issue actually as the consequences could really be dire.
Jag
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"The point is, ladies and gentleman, that greed - for lack of a better word - is good..."
Gordon Gecko, "Wall Street", 1987
The company is honest enough to confess. Btw, it is not a bank.
I got a DBS LIVE Fresh Credit Card Free =)
I must admit i like receiving stuff free, but it does get dangerous if it's tooo obvious. especially when i don't collect my own mail
The banks give out free credit cards is actually to capture more market share and hope users with the credit cards will start spending so the banks can either earn from the merchant or some of us whom are forgetful and roll over the credit amount.
Nevertheless, DBS live Fresh has quite alot of dining benefits...so actually its quite a good card if you knows how to fully utilize the benefits ;)
Cheers
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
Yup, I got the DBS Live Fresh Card too... to download the songs :p
DBS Live Fresh Card can download songs? From where?
Dear Mr Mani,
I believe DBS gave you a token 10 Songs free to download from Universal Music Singapore but the offer expires 2 months from the issue of card.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.