Forget the global economic turmoil. I faced my own personal credit crisis when I received my credit card statement from DBS last week.
It said I owed $353.10 even though I didn't use my DBS Black American Express or my DBS Platinum MasterCard last month. In fact, I hardly used them at all.
So why did I owe $353.10? Because of the annual fees - plus GST.
My wife was furious because she didn't want me to get those cards in the first place.
It all started when I received one of those annoying cold calls from strangers peddling various financial products.
My wife would hang up right away, but I would let them finish their scripted sales pitch - and then say no.
I figured, hey, if they were willing to waste my time, I was willing to waste theirs. The trouble was sometimes I said yes.
That was how I ended up with a couple of credit cards I hardly use.
I figured, hey, since the annual fees were waived for the first year, what did I have to lose? I would enjoy the card benefits for one year and then cancel the cards.
The trouble was I forgot to cancel the cards. So now I was stuck with a $353.10 credit card bill and a pissed-off wife.
She insisted that I cancel the cards immediately so that I wouldn't forget and owe another $353.10 in 12 months.
So I called the DBS "hotline". When I finally reached the customer service officer, he asked why I wanted to cancel the cards. I told him about the annual fees but not the pissed-off wife.
Then the guy asked whether I would keep the cards if he waived the $353.10 charge.
What? You mean this guy on the phone could magically make my $353.10 debt disappear just like that?
What if I hadn't called? What if my wife hadn't insisted on cancelling the cards? I would've stupidly paid the bill and be out of $353.10 for nothing!
I was angry - yet not that angry because I just saved myself $353.10.
Are other people stupidly paying their credit card annual fees or would I have been the only one?
Anyway, I decided to keep the cards and when they bill me the annual fees next year, I would simply call again and threaten to cancel the cards.
If only the world's credit crisis could be solved just as easily.
I just had to figure out how to tell my wife.
- Published in The New Paper, 19 October 2008
TRENDING POSTS OF THE WEEK
Remember in February when SMRT won some international award for “delivering value through risk management”? You should because I wrote a...
A man accosted an MP at a grassroots event because the man was upset that he didn't get what he was there for. No, I'm not talki...
A long time ago, I met Mr Lui Tuck Yew when he was nobody. Okay, he wasn’t exactly nobody at the time. He was the outgoing Chief of Navy. ...
Dear Shaw Theatres, Last Thursday morning, I went to see the giant ape movie Rampage starring Dwayne Johnson at Lido. Of course, I wat...
Dear producers of Code Of Law , My condolences on your new Channel 5 drama series. As a former TV producer for Channel 5 myself, I sympath...
When I learnt that Vernetta Lopez ’s autobiography Memoirs Of A DJ: Life In Progress was published last week, I rushed to the nearest major...
I suppose you’ve heard the big Joanne Peh news by now. I, too, was caught by surprise like everyone else although in retrospect, I should’...
Two years ago, when celebrity radio deejay Glenn Ong revealed that he was dating fellow MediaCorp deejay Jean Danker after splitting fro...
I first met Darryl David at Gurmit Singh's wedding dinner in 1995. David's date was a woman named Lynette Pang , who was a stag...
Last month, my wife posed for pictures with a topless male model at the entrance of Abercrombie & Fitch on Orchard Road. Because he pu...