QUOTE(chippy09 @ Jul 1 2008, 11:21 PM)
I don't know how this bank negara people think...
the intention is actually good but the outcome would be disastrous...l
many people owe bank or couldn't pay up credit card fully is not they want or
don't want, they simply tight in cash
why bank negara would want to penalise them?
Why spend when you can't afford?!....
So if one is simply tight in cash, why spend the money they don't have in the first place?!
QUOTE(chippy09 @ Jul 2 2008, 12:14 AM)
>Just so that we don't end up like those in the USA?
if it works I dont mind
like communism sounds good in theory...the direct result of implementation caused million of people lost their life
What happened in the US which in relates to cards? Care to enlighten us?
Btw, most countries doesn't have the so called 20 days grace free interest period that we previously enjoyed.
Also, most countries are also on risk based pricing i.e. the interest rate charged is based on the "risk" profile of the customer.
QUOTE(chippy09 @ Jul 2 2008, 10:09 AM)
tinker
>Just so that we don't end up like those in the USA?
This is a complicated question, in short even if BN imposes
or not imposes the new ruling we won't end up like US
I think BN sucks because in one hand they HAVE this let go policy that allows
all these bank to bombard us with personal advertise in TV, Paper, roadshow
for credit card, loan, balance transfer.....
BN should know the direct result of these of course people are going to owe money to bank, right?
in other hand, BN says "YOU OWE TOO MUCH MONEY, YOUR FINANCE SUCKS, BETTER PAY UP EARLY"
you see what I mean
They allow creditcard/loan flushing over all the people, then suddenly become so concern they want you to
pay or you got to pay even more
SO I AM ASKING WHAT IS THE OBJECTIVE OF BN? IF THEY ARE TRULY CONCERN ABOUT US THEY SHOULD
HAVE TIGHTEN THE REGULATION ON HOW MUCH CREDIT CARD CAN BE ISSUED
BANK IS GOING TO RAKE UP MILLION OF DOLLARS WHILE YOU POOR PEOPLE ARE GOING TO SUFFER
When they tighten, consumer complains; and when they relaxed, consumer also complains....so when is the end?
btw, BNM most of the time sides by customers whenever there's any dispute.
Also, with advertisement, does that meant that you have to go for it? i.e. We knew that McD food is not really healthy to us, but we still eat it....anything wrong with their advertisement than? Are you going to start a campaign to bring down McD?
It's all about individual controls. Nothing to do with governing bodies.
Added on July 2, 2008, 4:29 pmQUOTE(chippy09 @ Jul 2 2008, 02:42 PM)
think about it
bank is a biz that's true
but bank is an unequal business...not like others, they are excluded from risk
my supplier didn't ask me for IC, income statement, collateral ..bla bla to supply me the goods, they give me 30 days term
my supplier is taking risk to make profits, but WHY NOT BANK?
SO WHY BANK ALREADY ENJOY ENORMOUS ADVANTAGEs SHOULD
BE GIVEN FURTHER POWER...
at the end we people will kena squeeze
Banks are already taking risk.
They do not know you yet they lend to you.
Your supplier knows you're in that business thus they sell to you.
But the bank doesn't know what you're going to do with the money yet they also lend to you. Is that not risk when they do not know whether or not you can pay them back?!
This post has been edited by b00n: Jul 2 2008, 04:29 PM