I wrote about banks previously. That was about property loan. This time its about credit cards. I had one credit card which I've been using for almost 20 years now. Yes it is very long time to be loyal to a credit card. During these years I pay in full amount and promptly. I guess that record will flash up brilliantly on the credit score. I also had an OD with a fully secured collateral. The OD limit extended to me is only 95% of my few hundred thousands collateral value.
Last month during a visit to an exhibition, while walking past a "chin" booth.
"Do you want a credit card, Sir". Well, I'm not working currently, can I get one? Yeah, you can apply....They took a copy of my identification, copy of my current credit card, fill up pages of forms.
Two week later, someone called to verify all the particulars. And guess what I never hear from them again. Man, maybe I'm a credit worthless.
When later I relate this story to my paid financial planner, we laugh at this silly chin bank. He said to me, "You know what, premium banking want you as their customer". Yet I do not qualify for a credit card...how silly the rules are.
Ah, its ok when you know where you stand and what is your capability, everything else does not matter anymore. Like the saying boys will be boys, this is banks will be banks.
Never get attached to banks...remember they are only service providers but be part of them by owning them.
