I wonder if it is ethical for banks or credit card companies to pre-approve and send the cards to customers in their database, without the customers applying for it?
I have got these so called free credit cards many times without applying. They usually come with housing loans, or for existing current account holders.
Though they said the cards will only be activated upon our verification, I still think it is not right.
It is like encouraging spending, encouraging taking more loans through credit cards. What if the person receives it have very low self control, and see that they suddenly have so much of credits to use…
Not sure whether there are any regulation from Bank Negara to control this or not. If there is none, perhaps they should start regulating it! Talk about the young people not able to control their personal debts being a new social problem, they should do something about it…
I wonder if it is ethical for banks or credit card companies to pre-approve and send the cards to customers in their database, without the customers applying for it?
I have got these so called free credit cards many times without applying. They usually come with housing loans, or for existing current account holders.
Though they said the cards will only be activated upon our verification, I still think it is not right.
It is like encouraging spending, encouraging taking more loans through credit cards. What if the person receives it have very low self control, and see that they suddenly have so much of credits to use…
Not sure whether there are any regulation from Bank Negara to control this or not. If there is none, perhaps they should start regulating it! Talk about the young people not able to control their personal debts being a new social problem, they should do something about it…