Two months ago, around end of Dec 2007, got a call from eFusion, an authorized Credit Card sales representative of the Standard Chartered Bank to offer me the Standard Chartered Bank Business Platinum Credit Card.

I was not interested to getting any new credit card at first, because already owned a few credit cards from three local banks and Citibank.

However, the poor credit card sales rep was so desperate for some commission, he mentioned that apart of the useless free spa voucher and 3 years annual fee waived, StanChart will credited $50 to my account after 45 days of card approval. So, to help this poor sales rep, I agreed to get this card.

When I received the second month of the credit card statement today, I notice that $50 still not credit to my account yet.

Immediate, I call StanChart at 1800-7477000 to check on this matter.

Upon hearing my feedback, the customer service consultant, David, told me that the $50 Credit Bonus promotion was ended in October 2007.

Later, when I read at Standard Chartered Bank website, the $50 Credit Bonus Promotion is valid for all new-sign-ups till 31 January 2008. This mean that I’m eligible for the S$50 credit bonus, but the phone banking customer consultant, said promotion was ended in October 2007.

What was going on?

I only agreed to apply the Business Platinum Credit Card, but last week, I received another 2 cards, Platinum Access Card and Platinum Card.

Why sent so many credit cards to me?

Some more, my name on one of the credit card and statement was WRONG. Should be NENG, instead of MENG.

After settling the current bill, I’m going to send them credit card termination letter.

I’m NOT a happy Standard Chartered customer!

Standard Chartered Bank must do something to improve their services.

Popularity: 62% [?]

Three weeks ago, received a letter from Standard Chartered Bank, stated that with effect from 21 Jan 2008, the e$aver saving account interest rates for deposit balance less than $50,000 will be reduced to 0.80% while 1.20% for balance between $50,000 and $199,999

Similarity, Maybank also revised their interest rates for iSAVvy savings account. Starting 4 Feb 2008, the interest rates for iSAVvy will drop to 0.25% for balance below S$5,000 and 1.68% for balance between S$5,000 and S$50,000.

Apart from investing, where is the best place to park your spare cash now?

One option is FairPrice Plus (FPP) Savings Account.

The advantage of FPP account is no monthly balance requirements and no monthly service fee.
FPP Savings Account earns you 1% interest rate from the very first dollar.

You can easily access your fund using any OCBC and UOB ATMs islandwide.

Recommends to use FPP account for your monthly GIRO deductions because there is no need to maintain monthly minimum balance and the same time earns 1% interest too.

Read more »

Popularity: 31% [?]

This entry is inspired by Yenjai’s “rosak” TV.

Yenjai said in his blog that, his TV rosak liaolast week. While searching for new TV, he is comparing a $3999 LCD TV and $1999 CRT TV.

Lucky for him, he got a good wife, because the wife choose the Samsung Slimfit TV that cost $1999. (Yenjai, you save $2000)

His post let me think of “Needs vs Wants”.

What are “needs”?

What are “wants”?

“Needs” are what we need to live.

“Wants” include everything else we would like to have, but not a necessity.

I feel that everyone must know the differences between wants and needs, no matter what is your financial capability.

This is the first step to breaking free from the materialism trap. There is nothing wrong that we want all these things. But do understand that these things do not make us happy.

I want to share this Chinese blog with you. Read the post We don’t need much, yet we want a lot, you’ll be amazed by the amount of money you can save.

Any comments?

Popularity: 16% [?]