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Monday, September 05, 2005 

Singapore - Credit/Debit Cards, Bad Debts??

Credit/Debit cards have been around for many years, but were only available in the developed economies of the world, like USA and UK.

I ever hit a merchant/retail shop who take in accept AMEX only and i was really stuck with my Mastercard! I did have other card and cash at that point of time. At that point of time, i was really thinking 'Holy Shit, What shall i do?" I find cash is still the best way but when you hit for traveling oversea you always need a those Credit/Debit cards to come in handy! What i had learned is always have a plan 'B' when i going for travel/backpacking!!

Formerly, the only ones able to pay with ‘plastic’ were working adults or holder of supplementary cards. Even fresh graduates would not be able to hold one for a while, as the minimum income requirement is $30,000 per annum. At a arise credit card holder have a record high of bad debits in Singapore during 1997.

For supplementary cards, all items charged to it get billed under the principal cardholder, usually Mom, Dad or even boyfriend/girlfriend. While some of us who have this privilege enjoy it very much, there are certain items and amounts that we rather not let them have knowledge of.

However if you have a credit card, do you really understand them? Visa quote "Your credit card can be the most powerful budgeting and money management tool you own. But it is also a responsibility.
Here are the general terms you need to find out when using a credit card." I found a way to understanding how they works not blindly sign up for the 1st year not interest fee.

I used to work with one of the banks in Singapore when i was a part time student as a Debit Collecter in Credit Cards & Loan Department. Sound funny you will say? Job title "Debit Collecter" another local terms or my language will be "Legal Loan Shark". I will not one to go further with that but now i under more about how Credit/Debit Card works as i working with one of the world biggest card company.

With these passports to financial freedom readily available in Singapore, there is absolutely no need to bother about submitting your income statement or answering to someone else about your purchases or spending habits.

The forcast will be looking forward how wisely you spent your money...

Hey there... This is RLeFire from BF2. Was busy repairing your chopper last night. :)

ya i know..

i hope you can play again and you repair my chopper and nice teamwork last night...

Now is 6AM, damm i have to go to work and my eye are like panda man..

You have a nice day at work ya..

i only use my credit card during travels. use credit too often will often lead to overspending. use cash is ze best....

http://www.mymoneyskills.com/visa/ap/index.shtml

Try this and take part of thier quiz and you will know how wisely you spent habit is...

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