EXPERIENCE IS THE TEACHER OF ALL THINGS
-Julius Ceaser

Sunday, February 11, 2007

The Black Envelope

Last week I received a black envelope. It was from CIMB Bank. I was not sure what it was until I open it and found an application form for a new credit card. It was pre approved. It means that when I post the form and the bank receive it it means I will get a new Mastercard. How easy it is to start a debt. I did not fill anything until a few days after.

The form is about half an A4 size paper and the particulars needed from me is minimal. My personal particulars and a signature. I have to attach a photostat copy of my Mykad and my business card. Thats it . Thats what CIMB Bank really need.

Now the hazy side of my application. I have been having some problem paying my minimum monthly credit card bills for a few cards and from time to time a RM 50.00 a piece letter came to my address. Thats the first issue. The second, on top of the form there is two choice of card where I have to choose : A Platinum Card or a Gold Card. To qualify for a Platinum card my gross annual income must be above RM 50,000 and definitely higher for a gold card. Well, I don't qualify for both so I did not mark in any box correspoding to both options. To me whether I will be issue a car or not is not a problem. If they grant me one, then it means I will start a new series of debt. If they rejected my application, I do not lose anything.

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