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Credit Cards GST - Card issuers compensation, With certain minimum condition
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SUSPink Spider
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 Mar 23 2013, 12:15 PM
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Let us settle this once and for all...
GST is a tax, all cardholders have to pay, with banks acting as "agent" to collect on behalf of the government.
However, banks CAN give u a cash back, rebate, credit or whatever they may call it to EFFECTIVELY relieve you from bearing the GST.
It's all law; the law states that GST has to be paid by the cardholder, but there is also no law stopping banks from giving customers a discretionary cash back/rebate/credit.
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SUSPink Spider
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Mar 25 2013, 07:47 AM
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POST DELETED AGAIN.
Dictators.
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SUSPink Spider
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Mar 26 2013, 10:30 AM
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QUOTE(kochin @ Mar 26 2013, 10:21 AM) was surprised my earlier post was deleted too. it's definitely not something illegal. as long as the banks appreciate my business, and they are willing to do it for me, what's wrong with me sharing my experiences here? strange. To reprise, banks paying your GST is illegal, but giving you a credit/rebate/bonus reward points that you would not get had you not call up the bank to request for GST offset is not illegal. Banks do not have to justify to authorities their reward programmes, its all marketing/promotional matters. Correct me with facts if I'm wrong. |
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SUSPink Spider
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Mar 26 2013, 10:47 AM
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QUOTE(kochin @ Mar 26 2013, 10:43 AM) that was precisely my point. it's the banks doing it. not us the users. some of us might have called up to terminate a card but somehow it's the banks who insist and persisted.if i am unworthy of the bank, do you think they would do me any favours at all? and bank does have a retention program. even if you use zero amount on the cards, they would still love to retain you. again speaking from experience. note that i'm not asking forummers to break the law. am only saying we should let the banks decide whether they wish to retain you or not. as simple as that. we 'do not know' what and how they attempt to persuade us to maintain with them. QUOTE(kochin @ Mar 26 2013, 10:21 AM) ... what's wrong with me sharing my experiences here?^ You got the key points there  In summary - no guarantee can get, but no harm tryingShall we end it here?  This post has been edited by Pink Spider: Mar 26 2013, 10:49 AM |
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