An article from today Star Paper.....
Is there any sifu can explain on this & what is the advise.....

"MY father passed away a couple of months ago and we noted that he had a credit card. We surrendered the card to the bank, together with a copy of his death certificate.
To our surprise, we received a statement from the bank and a letter asking us to pay the sum outstanding.
First of all, why does a bank give credit card to a retired person who has no income besides his pension? I understand that a lot of transactions can be done through the credit card and it can be convenient for a pensioner.
However, the credit limit set for him was very high, and I am curious to know how the bank approves such limits. Shouldn’t the banks look into the life expectancy of people? My father was more than 70 years old when he passed away.
Is it fair to go after the family members to pay the outstanding bills? With the high interest rates, it will be difficult for us to settle the debt overnight.
Can someone enlighten me on how to handle this situation?
JJM1975 Selangor"

So Far as I know:
The Newly Launch Citibank Rewards Platinum Card ...with the exception of the Driving category which will earn NO points after the monthly cap is exceeded. http://www.citibank.com.my/english/credit-...ards_categories

& also, there was NO Point will be Rewarded for Purchases at Petrol Station with most of the Citibank's Reward Point based Cards

This post has been edited by fly126: Feb 16 2013, 01:44 AM

I'm glad I don't own Citibank credit cards. This bank cheated my points way back in 2002.

In my opinion what transpired was that the "Father" passed away and the surviving family/estate went to the bank to close everything as part of the closure process that everyone would do. (Bank accounts/credit cards etc)

During that process, if the credit card has any outstanding balances, the bank would first attempt to offset it with any balances from either the Savings or Current account of the deceased. The account would then be successfully closed if the balance is sufficient to cover the credit card outstanding balance. (Balance from the Current/Savings would then be surrendered to the deceased estate)

There will be complications if the balance is not enough to cover which is the case highlighted here. If such were to happen, the bank will then proceed to claim this amount from the deceased estate and I would to note that the banks have every right to do so under the Malaysian legal system. It looks like in the above, it is further complicated by the possibility that the deceased may have "left" a lot of outstanding balances.

I am of the opinion that the blame should not be shifted over to the bank as the responsibility for paying your credit card bills has always been the sole responsibility of the card holder - irrespective whether you are young or old. In the story above JJM1975 wanted the banks to be accountable for granting a credit card to a pensioner but what if the deceased was a young man ? Or a middle aged man ? I don't think it is a situation of how old you are (some pensioner may still be working) but how all of us treat unsecured (or even secured) credit facility/debt. We have seen this story being posted in this forum several times in the past along side with the many stories about how many go about spending beyond their means with piles of credit card outstanding.

What the deceased could do is to negotiate with the bank on a payment schedule if they could not pay it in one go. And to note, it might be highly possible to ask for the interest to be freeze and the amount would not grew over time anymore. After all, it is to the banks interest that they are able to recover and close such cases successfully. However, if one thinks that they can outrun the bank in any means ... please reconsider - the provisions in the Malaysian law unfortunately does not see it that way and I would advise anyone to be accountable for their own debt for the sake of their loved ones. Be prepared for an exhaustive legal battle (you may interpret every single word in the book with your lawyers) if the surviving estate choose to fight it out with little chance that the outcome will side their way.

Well ... I shall leave further debate of this situation to the members.

+1 Agree. Everyone should have responsible for their own financial position and be disciplined for the sake of their loved one.

A very good and clear explanation....

Good evening everyone,

I am wondering (can't search for this) is there any credit card which counts online bill payments as retail transactions and hence contribute to your cash-back schemes (such as Public Bank 0.3% cash rebate) and/or credit card points (such as Maybank TreatsPoints)?

Example of bills :- Telekom, TNB, Astro, Digi, Syabas, etc

I reckon that this would be too good to be true, because bills are generally not considered as purchases but rather more of utilities/maintenance, so banks aren't so silly (or are they? ;-)) as to give free points to things you already have to pay, but I am asking anyways for you guy's experience in this. Arigato very much!

Retail Spending (Transaction) = All Purchases of Goods or Services (including all the Billing, Insurance, Quit Rent, Assessment Fee...) Charged to the Credit Card
But, NOT Includes : all Cash Advances, Balance Transfer, Instalment Payment Plan, other Credit Plan, Annual Fee & Charges...

Hi Guys wanna ask just in case anyone has encounter this.

If I would like to apply MBB2 cards platinum but my PA salary yet to met their requirement, if I want to pledge FD with them anyone know estimate how much I need to put in into FD?

thanks!

Hi guys, I just got back and found out that my UOB and CIMB had outstanding balance and was charge penalty and finance charges But CS say will waive both charges if I pay tomorrow I thought I settled in full and even paid extra but I guess I did not, haha.

As usual, you have some nice graphics with your greetings

Thanks for the advise. Actually I forgot my password for my gmail and as such could not find out why they deleted my blog..... and when I was overseas, google kept asking for my overseas number eventho I entered my Malaysia hp number correctly. Anyway, blogspot automated classification blocked my blog because they classified it as spam. I have request that my blog be reinstated and if they don't, I have decided that I will stop blogging.

This post has been edited by Gen-X: Feb 19 2013, 09:50 PM

Welcome Back...

It happens, especially when you are having so much fun overseas. You loss track of time, well, you forget pretty much everything

Anyway, it shows that it pays to pay your credit card bill full and promptly every time. Else i don't think they will be so nice to waive off all the penalty charge and finance charges for you

By the way, now that you're back. It's time that you call your HLB RM to apply for the new Hong Leong Mach VISA 10% off three pre-selected categories bro

Hi All,

Kindly please assist me. I have ambank credit card and realise that they charge me RM50 for excess charge.

excess charge is due to used above credit card limit. I thought we would not be able to use once we reach limit yet ambank charge me 50 for over utilise the card. Is this common for all bank?

Different banks have different T&C applied to their customers. I am not surprised as I have read such T&C before for my own cards.
Before you go about disputing this, please refer to your Ambank's T&C regarding such charges.

If such clause exist then I hope you will accept responsibility over your own oversight.

I Recall that, Standard Chartered Bank also have charge $50 Over Credit Limit Fee over the Cardholder who Excess their CL ...

This post has been edited by fly126: Feb 20 2013, 01:16 AM

Bro, you know what, I just said I just came back from overseas and noted I did not make payment for my January Statements and they offered to waive the late penalty and finance charges ( on condition I make payment tomorrow ) without me requesting

No lah, not going to apply any new credit cards, don't think I will spend much locally from now on.

If not mistaken, I think Citibank also charges a fee when one goes above the CL.

anyone have encounter this before? I did call Maybank CS and they did mention they can accept pledge of FD but it subject to processing department to open the figure.

anyone if have my same problem, i hope you can enlighten me estimate what amount need to pledge, a basic estimation is good so when I go apply can nego with them

In another bank, the amount pledge = Credit Limit. Take note that there might be an extra fee. My personal advice is, dont bother to upgrade to Plat by this method as you dont get much benefit from Plat anyway. Deposit the money to other FD with higher return is more beneficial

let me see, if estimate the lowest CL for Plat is 10k, then it might open up ask me to pledge 10k and above amount... as I notice the other thread about FD, Maybank rate wasn't that good. really need to consider do i really need Plat or not...

Human Nature thanks for your info

ocbc just reject my application

can i know how long i need to wait to reapply the same bank or other bank credit card as well ?