QUOTE(cfa28 @ Apr 28 2015, 02:09 PM)
Guys.
Wanna know why OCBC is cutting back its benefit for its Credit Cards.
It's cos you guys always pay in full and never rollover your debts
From my contacts who works in investors relations
Citibank – RM6.4 b
Maybank – RM5.3 b
Hong Leong – RM4.2 b
CIMB – RM4.6 b
HSBC – RM2.7 b
Stan Chart – RM2.2 b
UOB – RM2.1 b
AmBank – RM1.9 b
RHB – RM1.9b
Public – RM1.6 b
OCBC – RM585 mln or 0.6 b
Source are from respective financial statements.
How to support benefits when so many people pay in gull.
seriously?!
it does not matter whether the bank is making money or not, even if they are TOP bank in the world. they are revising/retracting their product offering, is their discretion and for sure covered in the T&Cs. they have given ample time by announcing the revision of the features.
we as a consumer can CHOOSE not to use their products/services.
if still unsatisfied, choose other cards (hurt their revenue from cards' revenue stream) or complaint to BNM (doubt this would change anything since OCBC is doing their due diligence).
or, you can try to setup a petition @
https://www.change.org/here's an excerpt from Titanium's T&Cs:
QUOTE
OCBC Bank’s decisions on all matters relating to the Titanium Designs and the Titanium Rebate Programme shall be final, conclusive and binding on all parties. No correspondence or attempts to dispute such decisions will be entertained.
OCBC Bank may, at its sole discretion, vary or add to these terms and conditions or vary, suspend or terminate the Titanium Designs and/or Titanium Rebate Programme with 21 days’ notice to the Cardmembers. Variations or additions to these terms and conditions or the variation, suspension or termination of the Titanium Designs and Titanium Rebate Programme may be made by placing a general notice in any one issue of a daily national newspaper or by posting a general notice in any OCBC Bank branch or its website or by incorporating the notice into OCBC Bank’s statement sent to the Cardmembers periodically and the notice will take effect from the date set out in the notice and, if no date is stated, will take effect from the date of notice.Source:
http://www.ocbc.com.my/assets/pdf/Cards/ca...itanium_tnc.pdf This post has been edited by cybpsych: Apr 28 2015, 02:24 PM 
Apr 10 2015, 10:47 AM
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