Platinum Credit Card | Ramblings of an e-trader

Wednesday, 9 July 2008

Platinum Credit Card

I was quite surprised when my cousin told me that he managed to apply for a credit card. Actually, he did not apply for it but he was given a platinum credit card after his application for a student loan was approved.

I was surprised as he is not even working and does not have an income ad yet the issuing bank thought that he would be a good candidate to own a credit card, a platinum card no less.

Moreover, my cousin, who now has a study loan, would have to repay the study loan at 3%. So how does the bank expect him to repay the loan AND settle his credit card bills? I marvel at their rational of targeting people who are not that financially stable. Perhaps they like to chase their customers to settle their bills, or they like to see their customers with accumulated credit card debts.


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