Credit Card Debt Solution

[HarryKane]

Well the best way is to ask the credit card provider to stop snowballing the interest and on our side we need to cancel and stop using any credit cards then slowly pay back what is owe to the bank

[Ysc3]

just now I made a payment to my credit card ... after the transaction was complete, then I realized that I paid short of $1.04

 

so I quickly logged in and made the balance payment for my card.

 

question : if I did not notice I short the $1.04, will the bank charge me interest for it ?

 

coz last time my colleague short pay $10 and the bank called up my company to look for him !! the bank kenah my friend "F" good good ... and then cancelled his card after that.

[Angcheek]

  On 8/24/2018 at 5:56 AM, Ysc3 said:

just now I made a payment to my credit card ... after the transaction was complete, then I realized that I paid short of $1.04

 

so I quickly logged in and made the balance payment for my card.

 

question : if I did not notice I short the $1.04, will the bank charge me interest for it ?

 

coz last time my colleague short pay $10 and the bank called up my company to look for him !! the bank kenah my friend "F" good good ... and then cancelled his card after that.

Yes they will likely . Citi charge me 100 for 8 balance ... i call up to wave

[Ysc3]

  On 8/24/2018 at 6:05 AM, Angcheek said:

Yes they will likely . Citi charge me 100 for 8 balance ... i call up to wave

 

are there any card issuers out there with a minimum repayment sum ?

 

eg, if balance less than $10, they won't chase you to pay ... or they won't even send you the statement ?

[Doppel]

  On 8/24/2018 at 6:08 AM, Ysc3 said:

are there any card issuers out there with a minimum repayment sum ?

 

eg, if balance less than $10, they won't chase you to pay ... or they won't even send you the statement ?

Don't think so; any amount less than $50.00, banks like DBS would demand full payment.

 

More than $50, minimum 3% of outstanding amount...but then it attracts 28% interest....legalized loan sharks.

[Ash2017]

  On 8/24/2018 at 6:08 AM, Ysc3 said:

are there any card issuers out there with a minimum repayment sum ?

 

eg, if balance less than $10, they won't chase you to pay ... or they won't even send you the statement ?

credit card debt / borrowing is not backed by collateral like your house / stock.

 

basically the issuer of credit card based on your credit rating

but we know credit rating charges every year and for some every month

 

 

if 1 person decide to pay $10 less than his actual bill

for 1 person still manageable account

 

but

if every month 100000 people decide to do the same

that 1 million with lost interest and you don't know who is going to be bankrupt

the issuer rather than trust you will make payments to them first, will do everything to get their money returned as soon as possible

[inlinesix]

  On 8/24/2018 at 5:56 AM, Ysc3 said:

just now I made a payment to my credit card ... after the transaction was complete, then I realized that I paid short of $1.04

 

so I quickly logged in and made the balance payment for my card.

 

question : if I did not notice I short the $1.04, will the bank charge me interest for it ?

 

coz last time my colleague short pay $10 and the bank called up my company to look for him !! the bank kenah my friend "F" good good ... and then cancelled his card after that.

I owed HSBC 2 yrs for $600+. Didn't realize there was outstanding balance.

 

Never call me le.

 

Anyway, u can buy credit report from:

https://www.creditbureau.com.sg/buy-my-credit-report.html

[Kusje]

  On 8/24/2018 at 7:26 AM, Davidtch said:

I owed HSBC 2 yrs for $600+. Didn't realize there was outstanding balance.

 

Never call me le.

 

Anyway, u can buy credit report from:

https://www.creditbureau.com.sg/buy-my-credit-report.html

 

No interest charged? And didn't impact your credit?

 

Don't need to pay for the credit report la. Just apply for Credit card or home loan, then they will let you check for free

[inlinesix]

  On 8/24/2018 at 7:41 AM, Kusje said:

No interest charged? And didn't impact your credit?

 

Don't need to pay for the credit report la. Just apply for Credit card or home loan, then they will let you check for free

No idea whether impact credit or not.

 

No job, how to get loan.

 

Anyway the report cost $5.

[Kusje]

  On 8/24/2018 at 7:59 AM, Davidtch said:

No idea whether impact credit or not.

 

No job, how to get loan.

 

Anyway the report cost $5.

 

No job, all the more $5 is valuable.

[Enye]

  On 8/24/2018 at 7:59 AM, Davidtch said:

No idea whether impact credit or not.

 

No job, how to get loan.

 

Anyway the report cost $5.

 

wah what happened?  how come no job?

 

 

[inlinesix]

  On 8/24/2018 at 8:03 AM, Enye said:

wah what happened? how come no job?

 

No one want to hire me to wipe table

 

[inlinesix]

  On 8/24/2018 at 8:01 AM, Kusje said:

No job, all the more $5 is valuable.

I only paid once long long ago.

 

I have good track record with only 1 outstanding loan.

[Kusje]

  On 8/24/2018 at 8:07 AM, Davidtch said:

I only paid once long long ago.

 

I have good track record with only 1 outstanding loan.

 

Per your own admission, you are a credit defaulter for 2 years leh.

 

Like that called good track record? 

[Kusje]

  On 8/24/2018 at 8:06 AM, Davidtch said:

No one want to hire me to wipe table

 

Edited August 24, 2018 by Kusje

[inlinesix]

  On 8/24/2018 at 8:22 AM, Kusje said:

Per your own admission, you are a credit defaulter for 2 years leh.

 

Like that called good track record?

Let me waste $5 and see how that debt affects me.

[Neutrino]

  On 8/24/2018 at 6:15 AM, Doppel said:

Don't think so; any amount less than $50.00, banks like DBS would demand full payment.

 

More than $50, minimum 3% of outstanding amount...but then it attracts 28% interest....legalized loan sharks.

 

We always pay off all at end of month.

I know some people have difficulty and spread payment over a few months.

 

But my BIL dam stupid.

 

Got a few credit cards all maxed out and only pays minimum each month.

 

So paying what 28% for his loan all year every year.

His head only just above water due to lowish salary and his working kids who live at home not contributing to food or anything.

 

Felt sorry for him so paid all his loans off once.  He had no idea he was paying 28%  Went through all his bills and explained where he might cut down or not require blah blah blah.

A few months later he was maxed out on his credit cards again and back to paying 28%

 

Worse still has got nothing to show for his indebtedness.

No nice home all shoddy furniture.

No nice clothes.

Never goes out to eat.

No holidays.

Nothing.

 

I'm sure he's not the only family in Singapore like that.

But he'll never learn.

 

Of course the banks love him.

Edited August 24, 2018 by Neutrino

[Doppel]

  On 8/24/2018 at 8:37 AM, Davidtch said:

Let me waste $5 and see how that debt affects me.

Price increased liao, no more $5; now $6 plus GST, $6.42