Friday, January 2, 2009

Real Life examples how Banks abuse Credit Card Holders


A is M-ban, one of the banks in Malaysia and D is Daniel a citizen.

D : I receive a SMS asking me to make payment but I don't have any M-ban credit card
A : Sure sir, may I know your name ?
D : Daniel XXX
A : Ok Daniel, I have to ask you a few questions for verification.
D : Ok.

( after some identity card, address info sharing ... )

A : What is your Credit Card number ?
D : I don't have one.
A : Sir, without your credit card number I cannot help you.
D : But that is the whole point, I am complaining to you that I do not have M-ban credit card and yet you are asking me to make payment, 
A : I know sir !  You have to tell me the credit card number before I can help you.
D : I don't have it.  Do you have other verification question ?

( silence for a short while )

A : Sure ... when is your card expiration date ?

( at the end, A "advised" D to make payment to avoid any further delay )



HL is another local bank in Malaysia and this time MS is Mew Siang, a HL-ban credit card holder.

MS's card is due renewal in June but MS doesn't need the card anymore.  So MS wrote an official email to HL to cancel the card back in May ( 1 month before renewal).  After 14 days, MS didn't hear from HL so MS called HL.

MS :  I wrote in to cancel my card a few weeks ago but I haven't heard from you since.
HL :  Sure miss, Let me .... ( after 5 minutes of verification )
HL :  Yes Miss, we have already received your cancellation letter and now it is in process.

2 months later in July, MS received a statement asking payment for renewal fee.  Soon after that MS received a call from HL.

HL :  Miss, in order for us to process this cancellation, you will need to fully pay up all the due amount !
MS : But I cancel this card 2 months ago !
HL :  Sorry miss, there is NO way I can cancel this card for FREE.  But you can keep it and use for 12 times.  Then we will waive the renewal fee for you !
MS :  What ?  I cancel this card and you ask me to use it ?
HL : Yes, that is the only way you can waive your renewal fee.
( MS firmly assure HL that she has all the documents in record and will submit to consumer rights report if HL doesn't do this properly )
HL : OK miss, I will cancel you card.

WTF ?  Didn't HL just said there is NO way she could cancel this card ?




is the credit arm of Aeon group who also own the famous supermarket Jusco.  Mou Tan, a consumer,  applied for its credit card because she was assured to collect 1.5X more points when she shop in Jusco which she always does.

After months of using the card, she found it extremely hard to make payment.  The only doable way to make her monthly payment is at Seng Heng, an electrical shop near by.  But in subsequent bill statement, it shows that an extra of $2 was billed because she was making payment in Seng Heng, although that was instructed by AEON staff and without prior acknowledgement for such a fee.  She also found out that all her purchases are NOT collecting 1.5X points as promised earlier.  As a matter of fact, there are NO Points collected with her newly applied credit card.

She called to claim her points but without success.  There are so many terms and conditions that it is just not worth it to keep the card.  So she cancelled it.  Upon cancellation she was told the total amount to pay in order to cancel the card.  So she paid that.  2 months later, another bill come asking for more payment.

MT : I already cancel this card and already pay in full as instructed.
Aeon : Ya, I know.  But there are still some remaining amount here you have to pay.
( after 5 calls totalling 2.5 hours of no progress.  MT gave way and pay the remaining small amount hoping to end  the issue fast )

3 months later, another bill come asking payment for 4 cents.  MT ignored it every month and until today MT still get a bill asking for 4 cents.  Since 3 years ago.

8 comments:

Wai Keat said...

That why read the fine print every time you sign up something especially credit card.

Now I am wondering is it possible for the credit card issuer to change T&C without informing the customer?

Michael Tsen said...

yes, one of the fine print says, "bank reserves the right to change the T&C whenever deem necessary".

marxy said...

Kekekeke ... these stories really belong to your "joke" section in this blog!

Michael Tsen said...

thats right ! I was thinking I felt like I missed out something in this post .. thanks marxy !

Wai Keat said...

what lesson you can learnt from this real life examples?

TheCurious said...

Lesson learned: If really want to use credit cards, don't use those offered by M-ban, HL and Aeon. This list will grow as more complaints received from other credit companies. Hahahaha ...

Michael Tsen said...

actually the lesson is that you should realize your rights and stand firm on them. And do'nt simply eat into whatever banks told you to do ...

actually not only these 3 banks have these problems, the way bank operate is the same so theoretically, all banks will be like that. Its just a matter if you will experience it.

On above examples, both HLBank and Ambank issuess are resolved after talking to higher managment in those banks. Aeon is the stubborn one who may need to hear from Consumer Tribute concile.

I also record all phone calls with banks, ready as evidence just in case they sue me first ...

TheCurious said...

So now the lesson learned become: when there is issue, talk to the right person. muahahahaha ...