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Old 15-08-2019, 09:16 AM   #31
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well this Nomura analyst thinks G.Sachs spends $350 to acquire each  Card user. huge risk on e bank 🤔

https://www.cnbc.com/2019/08/14/gold...twitter%7Cmain
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Old 15-08-2019, 09:48 AM   #32
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Annual fees i agree is outdated. but late charges and finance charges can be avoided by paying on time. Unless you are saying that the Apple card lets you hold on to your overdue charges without any interests which i seriously doubt so although Apple has the reserves to do that. End of the day, they re a profit organization, not a charity.
There will be interest accrued if there's a late payment of cos but at the CC regular rate and that's about it.

The interest rate will be borne by the bank and not Apple.
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Old 15-08-2019, 10:04 AM   #33
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Annual fees i agree is outdated. but late charges and finance charges can be avoided by paying on time. Unless you are saying that the Apple card lets you hold on to your overdue charges without any interests which i seriously doubt so although Apple has the reserves to do that. End of the day, they re a profit organization, not a charity.
Bank don't like timely paying users to be honest.

Just cancelled my Capital Amex this morning as they not willing to waive the annual fee. I've be using it on a monthly basis and they say it not enough lol. Oh I pay on time btw
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Old 15-08-2019, 08:46 PM   #34
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Do u know wat banking licence Goldman has in Sg? They do not have a licence from MAS to issue CC in Sg!!!
I believe Goldman Sachs got commercial license for business not consumer in Singapore.
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Old 15-08-2019, 08:47 PM   #35
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NOt really, depends on what are the rewards.


It will never replace miles accumulation card for sure.
Maybe if Apple Airlines is launched. but then, it would probably be obscenely expensive to fly and the burn rate for miles is worse than SQ.
No annual fees is already going to disrupt the market.
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Old 15-08-2019, 09:46 PM   #36
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To be honest, I think traditional banks need to learn through the hard way from fintech company.

1. Doesn't make sense to pay annual fees. Of course some who earn in the $150-200k salary still pay annual fees for some cards to get exclusive perks. This is similar to olden days where you have to pay tv license. Those clowns realised they are stupid and they wake up

2. Late fees. Machiam like loanshark. Just keep adding till u die. Sometimes u tends to forget. Of course if you call to waive, they may waive it but waste of time

3. Interest for not paying ur bill in full. From what I understand, it is 24% per annum. It is hell a lot of interest. Fixed D only 2%. Banks has been making a lot of $ and it is time for payback

To be honest, bank need some wake up call. Lehmann bros, hyflux bonds etc... Well, we happy because ppl are screwed? Those are hard earn $ lei. Banks always think of profit and themselves first. They should think from customers' perspective and not treating us like carrots
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Old 15-08-2019, 10:13 PM   #37
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To be honest, I think traditional banks need to learn through the hard way from fintech company.

1. Doesn't make sense to pay annual fees. Of course some who earn in the $150-200k salary still pay annual fees for some cards to get exclusive perks. This is similar to olden days where you have to pay tv license. Those clowns realised they are stupid and they wake up

2. Late fees. Machiam like loanshark. Just keep adding till u die. Sometimes u tends to forget. Of course if you call to waive, they may waive it but waste of time

3. Interest for not paying ur bill in full. From what I understand, it is 24% per annum. It is hell a lot of interest. Fixed D only 2%. Banks has been making a lot of $ and it is time for payback

To be honest, bank need some wake up call. Lehmann bros, hyflux bonds etc... Well, we happy because ppl are screwed? Those are hard earn $ lei. Banks always think of profit and themselves first. They should think from customers' perspective and not treating us like carrots

Point 1. Agree.
Point 2. User problem
Point 3. user problem


Agree? if you have problem paying off your bills, you should not get a credit card at all, an ATM card would serve you better.
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Old 15-08-2019, 10:16 PM   #38
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No annual fees is already going to disrupt the market.

I have not paid any annual fees on my credit cards before. Why? because i use them. if you don't use them and the bank charges you for the annual fees, just cancel. So ya, even a card with no annual fees is not going to disrupt the market.



FYI, CIMB card has no annual fees. don't see it disrupting the market at all.



https://www.cimbbank.com.sg/en/perso...astercard.html


Member For Life, With No Annual Fee
  • Experience the convenience and freedom of owning a CIMB Credit Card with no annual fees for the Principal Cardmember, ever.
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Old 16-08-2019, 02:09 PM   #39
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You take a lousy bank to compare with the top brand in the world. Very strange. Picanto and Rolls Royce also 4 wheels. Same?
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Old 16-08-2019, 03:18 PM   #40
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I dont see GS as a "good" bank brand, it didn't even have the banking license here.

You take a lousy bank to compare with the top brand in the world. Very strange. Picanto and Rolls Royce also 4 wheels. Same?
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Old 16-08-2019, 07:05 PM   #41
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I have not paid any annual fees on my credit cards before. Why? because i use them. if you don't use them and the bank charges you for the annual fees, just cancel. So ya, even a card with no annual fees is not going to disrupt the market.



FYI, CIMB card has no annual fees. don't see it disrupting the market at all.



https://www.cimbbank.com.sg/en/perso...astercard.html


Member For Life, With No Annual Fee
  • Experience the convenience and freedom of owning a CIMB Credit Card with no annual fees for the Principal Cardmember, ever.
Weird. I used my cards but there is an annual fee. It’s waived though.
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Old 16-08-2019, 08:56 PM   #42
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I dont see GS as a "good" bank brand, it didn't even have the banking license here.
No one care about GS. They are well known for their investment feat than typical card card for consumer. If apple were to approach typical consumer banks, I believe their answer will be not possible, cannot have 0 annual fees, cannot do no late charge, cannot this and cannot that...Typical banks too much restrictions, legacy and red tapes. GS probably feel there is an opportunity. Anyway, just my guess
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Old 17-08-2019, 03:40 PM   #43
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Bank don't like timely paying users to be honest.

Just cancelled my Capital Amex this morning as they not willing to waive the annual fee. I've be using it on a monthly basis and they say it not enough lol. Oh I pay on time btw
Amex is notorious for not waiving annual fee that's nothing new.
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Old 17-08-2019, 03:42 PM   #44
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You take a lousy bank to compare with the top brand in the world. Very strange. Picanto and Rolls Royce also 4 wheels. Same?
Yes. A card is a card. A car is a car. What is the difference? They all give you unsecured line of credit no? I am only pointing out that there are cards with no annual fees. Which is supposed to disrupt the market.
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Old 17-08-2019, 03:44 PM   #45
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Weird. I used my cards but there is an annual fee. Itís waived though.
It's just the banks way of saying, look we waived the annual fees for you. 😂
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