Credit Card v16, Ask general questions here, Please read the 1st post before posting!
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 Oct 22 2011, 11:13 AM
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#1
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Senior Member
857 posts Joined: Sep 2007  
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Hi guys, recently I got a letter from Citibank to update my income record with them due to the new regulations by BNM on card holders with 3k income or less. With that in mind, I was wondering what will happen to card holders who are retirees like my dad? Any idea what will happen to his cards and credit limit? Technically he has zero income now
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Oct 22 2011, 04:24 PM
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#2
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Senior Member
857 posts Joined: Sep 2007
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QUOTE(FastCoder @ Oct 22 2011, 02:09 PM) Can you tell us what kind of information did they requested? They listed a few such as latest tax returns and some other stuff for business owners. For myself a salaried worker, just one month of the latest payslip would suffice Did they request any kind of document to be submitted?   |
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Oct 23 2011, 07:27 AM
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#3
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Senior Member
857 posts Joined: Sep 2007
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QUOTE(FastCoder @ Oct 22 2011, 05:30 PM) Latest payslip should be easily satisfied. Payslips could be easily forged. I wonder why they ask for something like that only. Perhaps you're right regarding the retirees and being granted credit part haha. Will see what they do to my folk's cards. Anyway, perhaps you have not been issued a letter because when you registered for your card your income was already over 3k per month? I registered for my card 5 years ago and never bothered to update them with my updated pay and back then my income wasn't 3k hehe. So perhaps yours was and hence they didn't send the letter.I'm a Citi card holder too, but I'm wondering why I have not received such a letter. As for retirees, logically speaking, should not be granted any credit anymore because they don't have any business or employment income. If they need a loan means their retirement income is insufficient and therefore must continue working. Debit cards or supplementary credit cards are more for suitable for them. |
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