[Bigiron]

$11k debt drives man to make false bomb threat to DBS Bank, Latest Singapore News - The New Paper
https://tnp.straitstimes.com/news/singap...t-dbs-bank

[Tangsen]

MAS should increase the minimum salary for the credit cards application

Many dun make enough to have credit cards

Should increase to 48K annual income to qualify

[Pegasus]

So DBS pay depositors like us next to 0% interest while charging us customers ultra high interest which led to this poor guy’s few hundred dollars loan to balloon to 5 figures?

[Migrant]

Own failures blame others.

[sgbuffett]

Hiw does bomb threat solve his debt probkem?

Dont really understand

[Ola]

MAS should increase the minimum salary for the credit cards application

Many dun make enough to have credit cards

Should increase to 48K annual income to qualify

Before covid, at AXS machine

A mother was with her daughter (around 13 or 14  years old) 

to use another credit card to make payment

[ysh02]

DBS at fault too! The bank should cancelled the credit cards and shouldn't let the debt to balloon out for ten over years .Make him bankrupt but now cannot; as MAS required min $10K than can allow declare chp 11....

[talky]

DBS at fault too! The bank should cancelled the credit cards and shouldn't let the debt to balloon out for ten over years .Make him bankrupt but now cannot; as MAS required min $10K than can  allow declare chp 11....

it is the interest of 24% snowballed that form >90% of the 11k debts 

he did nothing to repay the initial overdue pymt of few hundred 
stubborn head n stupid action to challenge dbs

[theold]

Deputy Public Prosecutor Hidayat Amir said Ang signed up for a credit card with the bank on Dec 2, 2010, and in 2011, he owed $647.52 on the card.

Despite repaying some of it between 2011 and 2017, he could not settle it completely, and accumulated interest meant his debt grew to $11,478.63 as at Dec 31, 2023.

As a result, DBS instituted a system in line with its institutional policy, where Ang would be called via an automated system once or twice every few days.

The 34-year-old Singaporean was sentenced to 15 months’ jail.

[theold]

Last time, a few years back, OCBC's credit card was also like that. Don't want to waive the membership fee and charge interest. I threatened to cancel the card but they ignored me. The card was linked to DBS Bank. There were some changes to the DBS-POSB saving card's magnetic strip. It cannot be used. Have to change the cards twice. In the end, I had to pay up and then cancel the OCBC credit card.

[RiseofAsia]

DBS at fault too! The bank should cancelled the credit cards and shouldn't let the debt to balloon out for ten over years .Make him bankrupt but now cannot; as MAS required min $10K than can  allow declare chp 11....

Banks are not charity organisation, the greatest fear for bank is $$$ cannot lend out.

[RiseofAsia]

Last time, a few years back, OCBC's credit card was also like that. Don't want to waive the membership fee and charge interest. I threatened to cancel the card but they ignored me. The card was linked to DBS Bank. There were some changes to the DBS-POSB card's magnetic strip. It cannot be used. Have to change the card twice. In the end, I had to pay up and then cancel the credit card.

人善被人欺lah.
For me, I will whack them upside down.
You shd have reported to MAS about this issue.

[RiseofAsia]

https://www.mas.gov.sg/contact-us

[RiseofAsia]

Dont understand how come never look for MP or NGO for help? Rather then keep escalating the debt.