VISA Credit cards with annual fees waiver?

[Bacteria83]

Hijacked the thread for a while, just be mindful to check your credit card bill.

SINGAPORE - A DBS Bank senior service executive kept credit cards that had customers wanted cancelled, then used them to pay for drinks and hostesses at nightclubs.

Stephen Choo Jianwei, 32, misappropriated them from six customers and chalked up $82,000 on them over a period of seven months.

He was jailed for three years and three months on Friday after pleading guilty to 30 of 110 charges.

A district court heard that Choo was attached to the Great World City branch at Kim Seng Promenade when he committed misappropriation and cheating offences between April and November 2013. He claimed that he had a drinking habit.

 

 

Choo was attached to the Great World City branch at Kim Seng Promenade when he committed misappropriation and cheating offences. PHOTO: SINGAPORE POLICE FORCE

 

 

Customers would approach Choo to close their accounts but Deputy Public Prosecutor Tow Chew Chi said that at the end of the day he would retrieve the cards he was supposed to shred.

He used them to pay for food, alcohol and hostesses' services. He also bought car care products, a GPS navigator and other items.

Only $186 worth of goods were recovered.

The bank filed a report on Dec 5, 2013 after a customer disputed transactions on the credit card which he had wanted cancelled.

The court heard that in July 2013, a CCTV camera located behind Choo captured him surreptitiously sliding a customer's card under his computer keyboard.

He frequented Grand Oasis Nightclub KTV at The Verge on Serangoon Road and used the cards to clear bills totalling $2,100 to $4,500 each time.

He also went to a Caltex petrol kiosk to buy items and shopped at Orchard Road malls for clothes, shoes and underwear.

On Nov 16, 2013, he used $2,290 of his own money to buy a Prada bag at The Shoppes @ Marina Bay Sands and used a customer's credit card to pay the balance of $1,000.

Mr Tow cited aggravating factors such as planning and premeditation, loss of reputation to the bank and the large number of offences and amount involved.

Choo could have been jailed for up to 15 years and fined for criminal breach of trust as a servant. For cheating, he could have been jailed for up to five years and/or fined.

[Vid]

What a big face

 

[laugh]

[Nzy]

Waive = temporary free of charge

DBS should pay due diligence to their recruitment. Like that also can recruit?

 

How do you expect them to know he is this kind of person? If he had previous convictions then maybe you can say they should have been careful. But the news also never mention if he has any previous record so I doubt he has.

[Sabian]

Waive = temporary free of charge

 

DBS should pay due diligence to their recruitment. Like that also can recruit?

Not everyone an hansum as you mah.

[Enye]

Next time interview questions must ask if like to visit ktvs and casinos or not for potential bank employees

 

😂

Edited August 14, 2015 by Enye

[Nzy]

Looks can be deceiving. But also can be the first alert.

 

So you expect them to reject job applicants that the interviewer feels look like criminals, even if they have no previous convictions and have the required qualifications?

Edited August 14, 2015 by Nzy

[lausai88]

Update.

 

No reply sms confirmation from Citibank if my annual fee been waived. Today they just sent me my monthly statment and looks like it has been waived. Me only use this card for petrol at Shell.

 

Screenshot of Citibank Statement.jpg

 

I also using Citibank and just got the annual fee waived

 

[Kangadrool]

next time, login to Citi internet banking and send email from there. They will respond.

 

Their phone CS damn laoya one, keep on waiting.... unless you don't mind or use company's line to call.

 

Update.

 

No reply sms confirmation from Citibank if my annual fee been waived. Today they just sent me my monthly statment and looks like it has been waived. Me only use this card for petrol at Shell.

 

Screenshot of Citibank Statement.jpg

 

[Ysc3]

Maybank have never charged me from day one....5 yrs expiry! Thinking of getting an POSB Everyday or DBS for my top ups in Esso. Any bros can advice which card is better. No shittybang for me please.

 

for my maybank card, it will get auto fee waiver as long as i use it oce every month .... eg 12 times a year. so i use it to pay my hp bill monthly... so i dun have to worry !!

[Adrianli]

next time, login to Citi internet banking and send email from there. They will respond.

 

Their phone CS damn laoya one, keep on waiting.... unless you don't mind or use company's line to call.

 

 

 

I dont have Citi internet banking.

 

I apply for Citi cos of their collaboration with Shell. Previously was UOB. Once collaboration over, I will cancel the card liao.

 

[Solar]

 

I also using Citibank and just got the annual fee waived

 

I suppose it's not their Prestige card? I told them I don't need their 62k miles in return for paying for it but they said cannot.

In the end they gave me an iPad instead, and I sold it off anyway, which kinda offset the $535 annual fee.

[Nzy]

I believe there are many others with the same academic qualification. Just be more alert with the interview and any follow-ups.

 

Looks like you are the best person to be working in HR. Better than anyone out there. Many people wouldn't be able to identify a dishonest person just by his looks and job interviews.

[lausai88]

I suppose it's not their Prestige card? I told them I don't need their 62k miles in return for paying for it but they said cannot.

In the end they gave me an iPad instead, and I sold it off anyway, which kinda offset the $535 annual fee.

 

Yes, is a normal visa card. I not qualify for prestige card

[Yewheng]

http://www.channelnewsasia.com/mobile/singapore/banks-should-be-more/2319820.html?cid=fbsg

 

Jia lat, expect longer call waiting time because of this news is published. People who do not know credit card annual fee can be waived or forget about it will call banks next few days.

 

On a side note talking about fee waiver, I feel case should address on credit card debt issue instead of annual fee issue.

 

There is one interesting comment by a guy who posted on Facebook regarding annual fee.

 

 

We do not know whether is annual fee just forms a very small percentage income for banks or actually forms quite a big margin. We do not have all the figures with us to know that.

 

But case give a very interesting figure, 9.6million credit card in circulation about 1/3 of them paid annual fees, that means about 3.3millions card were paid for annual fees, that's a lot man. Imagine 3.3million x sgd200 ( give a conservative figure and easy to calculate), that amounts to 600plus millions that is paid just for annual fees alone.

 

Maybe some banks have more people paying annual fees. Say for example bank A, bank A annual fee income collected from credit card holders total up 200million. Its actually a sum that can pay out good bonus to the people working in that bank A.

 

Banks nowadays also very hard pressed to stay competitive and survive, now case to published this news, it's going to worsen the banks stream of income. More people will be calling in to waive the credit card annual fee.

 

The news also said that bank charged annual fees is to offset for the benefits and the rebate that the bank gives, I think it makes a lot of sense. I always wonder how banks make $ by giving cash rebates, points benefits as compared to pay cash or debit card do not have any. My impression is that they are hopping for people to missed the monthly payment or rollover the payment and charged high interest. Now the real reason is perhaps they have annual fees to supplement for the cash rebates and points benefits. Credit card late payment and other interest is another thing.

 

With this, all the banks in Singapore will be more hard pressed. This may not be good for them as they still need to earn income right? Cannot be money flow out but never come in. It doesn't make sense to do a business that is making a loss.

Edited December 4, 2015 by Yewheng

[Albeniz]

Nowadays, waiver cant be done through their automated answering options, no longer need to queue to speak with customer service staff.

Edited December 4, 2015 by Albeniz

[Karoon]

banks make money from people like me who misses full payment by a day.

 

fair enough they've provided me a convenient service, benefits and whatnot but haven't gotten a cent from me so they watch me like a hawk to reclaim whatever they can.

 

they're still b**tards though.

 

[Mrmilktooth]

http://www.channelnewsasia.com/mobile/singapore/banks-should-be-more/2319820.html?cid=fbsg

 

Jia lat, expect longer call waiting time because of this news is published. People who do not know credit card annual fee can be waived or forget about it will call banks next few days.

 

On a side note talking about fee waiver, I feel case should address on credit card debt issue instead of annual fee issue.

 

There is one interesting comment by a guy who posted on Facebook regarding annual fee.

 

2015-12-05_04.22.55.jpg

 

We do not know whether is annual fee just forms a very small percentage income for banks or actually forms quite a big margin. We do not have all the figures with us to know that.

 

But case give a very interesting figure, 9.6million credit card in circulation about 1/3 of them paid annual fees, that means about 3.3millions card were paid for annual fees, that's a lot man. Imagine 3.3million x sgd200 ( give a conservative figure and easy to calculate), that amounts to 600plus millions that is paid just for annual fees alone.

 

Maybe some banks have more people paying annual fees. Say for example bank A, bank A annual fee income collected from credit card holders total up 200million. Its actually a sum that can pay out good bonus to the people working in that bank A.

 

Banks nowadays also very hard pressed to stay competitive and survive, now case to published this news, it's going to worsen the banks stream of income. More people will be calling in to waive the credit card annual fee.

 

The news also said that bank charged annual fees is to offset for the benefits and the rebate that the bank gives, I think it makes a lot of sense. I always wonder how banks make $ by giving cash rebates, points benefits as compared to pay cash or debit card do not have any. My impression is that they are hopping for people to missed the monthly payment or rollover the payment and charged high interest. Now the real reason is perhaps they have annual fees to supplement for the cash rebates and points benefits. Credit card late payment and other interest is another thing.

 

With this, all the banks in Singapore will be more hard pressed. This may not be good for them as they still need to earn income right? Cannot be money flow out but never come in. It doesn't make sense to do a business that is making a loss.

 

the banks charge merchants ard 3-5% each transaction so they earn alot from the businesses in the first place..

 

some cards annual fees cant be waivered..

 

[Vid]

I just cancel cards that cannot waive annual fees. Normally I have no problems getting waiver for late payment charge. What I will do is make full payment and call the bank. Never failed to get the fee waived off.

 

For those who do not waive their annual fees, well, they are rich or can't be bothered loh. No big deal.