No it is not a waste of money if you have a lot of credit card outstanding. It means that in the event if yr demise (which could be unexpected), your estate does not have to be responsible for the balance outstanding as the insurers will pick it up. If you pay yr bills in full, then there is no need for it. The smaller yr amount outstanding, the smaller the premium required. It is expressed as a miniscule percentage of the amount outstanding.

agree with Hya and BM. think the risks can be borne by oneself... coz based on rates, it's not worth it. anyway, it is more useful for people who chalk up huge bills.

because the balance left is usually not huge, and the premium look small in absolute dollar.
but in fact the credit shield premium rate is way too expensive.

suppose you have a credit card balance of $10K.
comparing, term life insurance premium is much cheaper.

Naturalis, find that u tend to give v good and fair advice. u work in the insurance industry? :)

Naturalis: That's great! At least we have someone to turn to. :)

Yes, that's a very prevalent situation amongst many merchants. Probably a combination of ignorance on the part of the cashier and the emphasis on fast transaction turnaround time. Clearing customers fast is more important than checking authenticity of the payment! It's just like giving a fake note to the cashier... oh I wonder if the fake $50 is still circulating in S'pore?

did they reveal which are the merchants tat went? curious to know... keke

more likely it is signed as clarke kent.. LOL

I tried to pay for peony jade mooncakes at a fair.... the cashier keyed wrongly and charged me 2k plus! Luckily I checked the the amount before signing!

Haha, I remember that was once that I was paying for my bill at the restaurant counter with my fiance.
I took out the card from my wallet and pass it to the counter for the payment.
While waiting for the bill, we continue with our conversation.
When the waitress pass us the bill, my fiance forgot that it was my card and sign on it.
The waiter did not notice or check my signature at the back of the card and pass us the customer's copy of bill.
Even after that, credit card company did not call me to enquire about that.

Another incident we had is I got a package from a beauty shop.
They took my card and come back with 1 bill for signature.
However my credit card bill stated they charge 3 times.
When I called the bank, they cancelled the other 2 duplicate.
Therefore it is important to check your bill every month instead of just paying.

Agree with you.

I'm using Amex, they have a free service which sends out sms when a preset amount is charged to the card. Find it very useful, especially for dining (when you can't see the card being swiped) and online shopping (in case the payment site crash and you dunno whether payment has been made).

I Own both Visa and Amex

Been using amex too but dint know got that function/ability. Going to check it out later tml

Posted By stroopwafels on 20 Oct 2011 11:06 AM
Haha, I remember that was once that I was paying for my bill at the restaurant counter with my fiance.
I took out the card from my wallet and pass it to the counter for the payment.
While waiting for the bill, we continue with our conversation.
When the waitress pass us the bill, my fiance forgot that it was my card and sign on it.
The waiter did not notice or check my signature at the back of the card and pass us the customer's copy of bill.
Even after that, credit card company did not call me to enquire about that.

Another incident we had is I got a package from a beauty shop.
They took my card and come back with 1 bill for signature.
However my credit card bill stated they charge 3 times.
When I called the bank, they cancelled the other 2 duplicate.
Therefore it is important to check your bill every month instead of just paying.

That's not strange. My underaged daughter has been using her mum card for years without problem. My own card got no signature at the back and I have been signing for years without problem until one day a dumb ashier insisted that I must sign the back of the card on the spot to accept my payment.

@import url(/providers/htmleditorproviders/cehtmleditorprovider/dnngeneral.css); I am with Citibank but won’t mind using others as well. As far as I know, even after sub-prime crisis you can be denied for a credit card due to several reasons such as limited credit history, low income, a charge off on your credit report, low credit score or others. The fact is that all the credit card issuers will review your credit history before approving your credit card application.

In the early 90s, I paid $400, yes I actually paid a one time payment for SCB Platinium card with 2 free sup cards!!! But that's for life time with no annual fee.

Yes, it is true. Having active credit cards on your record is no problem. It shows that card issuers are willing to extend credit. If these cards have no balance on them, you should have no trouble getting a new card. Apply and start using it.

If there are balances on your other cards, it is a different issue. You should pay them off, or transfer them to the card with the lowest interest rate and pay that off as quickly as possible. Then make sure you never have a balance on a card that exceeds about 30 percent of the credit limit.