Recently, my dad received a letter from a bank..Let’s call it XX Bank..
My dad is a frequent user of XX Bank‘s credit card..Thus, my dad is treated as a regular and valued customer..
So, IMHO, only frequent credit card users were being sent this letter..
A letter contained 3 Credit Card Cheques, which is equivalent to a bank loan..
*The Credit Card Cheques*
The first cheque had been filled in with the amount of RM 5,000.00..Just bank-in the cheque, you’ll get the RM 5k..
What about the other 2 unfilled cheques.??
Simple..Just fill in whatever amount that you want to loan, bank-in, and you’ll get the sum that you wanted..
*Just write amount, sign and bank-in*
*No more long queues..Mailed right to your doorsteps*
Sounds attractive right.? This is what I call “You Get What You Give“..
You’ll get the sum that you bank-in using the automated cheque
bonking banking machine..
Loan it fast before your money finished.!! Dream on yourself dude..
It’s your own fault if you don’t read on the tiny-miny note..Written,
- The cash advance fee charge is 5% on the amount drawn and a whooping 18% p.a. daily interest.
- Subject to XX Bank‘s approval.
- Cheques are only payable to yourself and not any other third party.
- The Cheques cannot be banked into any XX Bank loan account and/or XX Bank credit card account.
- XX Bank Credit Card Cheques are not an immediate cash advance facility such as cash cheques.
- Cheques are valid for 2 months from date of issue.
- Terms and conditions apply.
You have fallen into a trap if you bank-in the cheque..
It’s a f*cking 18% per annum daily interest.!!
Some people already facing problem with the government’s PTPTN loan for education, which is just a mere 4% interest..
How do you face the massive 18% interest.??
A loan from the bank.?? Or Ah Long working in the bank.?? Think about it..