Do you know you should not hold too many credit cards? If you think it’s because it will hurt your credit score, then you, like many others, have misunderstood how credit cards work. Despite the rising popularity, many people these days still hold on to wrong notions about credit cards. There are many aspects of these cards that are still generally misunderstood. It’s not the credit cards, but these misconceptions that can cost you dearly. Check out some of the most common misconceptions about credit cards: Do not accept an increase in your credit limit If you are punctual with the payment of your credit card bill, your card issuer may offer an increase in your credit limit. You may think that the bank is trying to trick you into spending more. However, you can use this opportunity to your advantage. If you accept the increase in your credit limit and continue to spend the same amount … [Read more...] about 6 Common Misconceptions About Credit Cards
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VIB launches premium World MasterCard credit card
Clients register for opening credit cards at a VIB branch in Ha Noi. — VNS Photo Vietnam International Commercial Joint Stock Bank (VIB) last week launched a premium credit card —VIB World MasterCard. The card provides special offers on dining, travelling, relaxing and shopping to cardholders who often go on business or travel aboard. By now, banks in Viet Nam have introduced many kinds of credit cards designed to meet the needs of each group of customers, ranging from common consumers to businesspeople. “VIB World MasterCard credit card has been designed for the convenience and benefits of cardholders, specifically those who often travel within the country or abroad, be it for personal or business reasons,” VIB said in a statement. VIB World MasterCard cardholders can use a credit limit of up to VND1.2 billion (nearly US$53,000), with an interest rate of zero per cent within 55 days. Cardholders can get many offers at airports, such as free services up to … [Read more...] about VIB launches premium World MasterCard credit card
Vietnam agents warn against buying third-party air tickets booked with stolen credit cards
Purchasing an air ticket bearing totally legitimate and valid information from a third-party might be all it takes to turn your dream vacation into a nightmare. Nearly ten passengers have sent complaints to Tuoi Tre (Youth) newspaper after being denied flying with Vietjet tickets that were properly booked with correct information after the bookings were found to have been purchased with stolen credit cards. Some ticket agents suggest that these disgruntled travelers are the victims of scammers who bought the tickets with stolen credit cards before reselling them at rock bottom prices. Denied flying In August 2017, Truong Thi Bao Trinh asked a ticket agent named Chu Hai Yen to book her a Saigon – Hanoi flight at the lowest possible price. Yen then made a request on a Facebook group for ticket sellers where she received an offer to transfer a Vietjet ticket for VND1.65 million (US$73) from Pham Thi Trang, a Ho Chi Minh City resident. The normal rate typically sits around VND2 … [Read more...] about Vietnam agents warn against buying third-party air tickets booked with stolen credit cards
Saigon restaurant director arrested for defrauding Aussie tourist with $30k credit card charge
An Australian man who had to pay AUD39,429 (US$30,000) to dine at a restaurant in downtown Ho Chi Minh City last year has been found to be cheated by no one but the director of the very eatery in question. Tran Tuan Minh, 22, was arrested by the municipal police on Thursday while serving as the director of the NightFall restaurant in District 1. Minh now faces charges of “employing electronic devices for the appropriation of properties”, despite the lawsuit being dropped after fully refunding the victim. The young director was found responsible for credit card fraud last year against Australian tourist Caracciolo David John, 45. John and a group of friends visited the restaurant for dinner and a few games of billiards on the evening of August 10, 2016 and used two different cards issued by Australian banks to clear their bill early the next morning. The eatery’s cashier … [Read more...] about Saigon restaurant director arrested for defrauding Aussie tourist with $30k credit card charge
Four Chinese men arrested in HCM City for using fake credit cards
HCM City Police have arrested four foreign men for using fake credit cards. The four Lu Lei, 30; Shang Ai Yu, 23; Wang Lin Nin, 33 and Yao Wen Lin, 29 are from China. They were living at a hotel in District 1. Foreigners' fake credit cards confiscated by police recently On the evening of June 18, Lu Lei and Shang Ai Yu came to Mai Nguyen Shop on Vo Thi Sau Street in District 3 to buy two iPhones and some related accessories worth total VND47 million (USD2,130) using an HSBC credit card. The credit card used for the purchase failed four times. However, when Lu Lei instructed them to swipe the cards, the system said the payment had been successful. The staff suspected the card was fake and asked Lu Lei to show his passport, but unsurprisingly he said that he had left it at the hotel. The staff refused to hand over the mobile phones and said they would be delivered to him the next … [Read more...] about Four Chinese men arrested in HCM City for using fake credit cards