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  • July 29, 2014
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  1. DBS may offer tiered rates on credit cards

    Posted Aug 14th 2003, 12:00am by Raymond Ma

    ... The lender is investigating options to reward good customers DBS Bank (Hong Kong) expects to offer tiered interest rates for its credit-card customers by the end of the year, according ... of a scheme to allow banks to share positive credit information of retail customers. The options being evaluated include a reduction on revolving interest charges and credit-card fees and an increase ...

  2. Warning sounded over hidden credit-card charges

    Posted Mar 06th 2005, 12:00am by Raymond Ma

    ... Raymond Ma The Consumer Council has urged credit card users to be on the alert for hidden bank charges, following recent fee rises by local lenders. The Bank of East Asia (BEA) this week became the latest of a number of banks to introduce a new battery of fees, which will affect customers using its classic, gold and platinum credit cards. This is despite strong bank profits ...

  3. Credit-card sector on recovery path

    Posted Jan 05th 2005, 12:00am by Staff Reporter

    ... Kelvin Wong Hang Seng and ICBC (Asia) unveil expansion plans to tap potential growth The credit-card market is set for a full rebound, according to industry experts. MasterCard vice-president and Greater China business manager Danny Cheung Wai-kin estimated that credit-card spending in the fourth quarter of last year experienced at least 30 per cent year-on-year growth. He said ...

  4. HK still stung by high credit-card rates

    Posted May 22nd 2005, 12:00am by Raymond Ma

    ... Raymond Ma Users are paying interest up to 10 percentage points greater than counterparts in Britain or the US Hong Kong credit-card users are still paying some of the highest interest ... rates of 26 to 28 per cent on credit-card purchases, compared with 16 per cent in Britain and the United States. The average interest rate has fallen by just a single percentage point in the 21 ...

  5. What the broker said

    Posted Oct 12th 2003, 12:00am by Staff Reporter

    ... ING Financial Markets made a buy recommendation with a target price of $2.94 last year on Aeon Credit (Asia), which engages in consumer-credit services, like credit cards, hire purchase and personal-loan financing services. As the No3 card issuer in Hong Kong, after Standard Chartered and HSBC/Hang Seng, Aeon has been hit hard by rising consumer delinquencies. But ING said the company had ...

  6. HSBC card unit expects tough conditions in US

    Posted Apr 01st 2009, 12:00am by Staff Reporter

    ... Wong Ka-chun HSBC Holdings' credit card unit in the United States was expected to face a difficult environment over the next two years because of deteriorating economic conditions ... have to think about it again... Unless there is a further deterioration in assets, the unit could ride out the storm,' he added. HSBC said the US card business was profitable last year ...

  7. Little progress in effort to extend use of Octopus card in Shenzhen

    Posted Apr 16th 2009, 12:00am by Martin Wong

    ... Martin Wong The company behind Hong Kong's Octopus card had scant progress to report yesterday on its two-year effort to extend the smart card's use over the border. In Shenzhen, the card is still only usable at seven Cafe de Coral and Fairwood restaurants. A memorandum of understanding was signed in July with China UnionPay, the biggest issuer of credit and debit cards ...

  8. From card sharps to weakest Link and Tung lashing

    Posted Dec 31st 2004, 12:00am by Staff Reporter

    ... JANUARY New Year hangovers were only just lifting when HSBC became the first bank to provide credit card services for cash-rich mainlanders travelling overseas. Retailers in Hong Kong welcomed the prospect of loosened purse strings as travellers freed themselves from the shackles of 6,000 yuan cash limits on their shopping trips. Chinese companies continued to be the darlings ...

  9. It helps to know if you are being targeted

    Posted Aug 24th 2003, 12:00am by Staff Reporter

    ... It used to be you got the credit card and then you went on a spending binge. Nowadays it pays to know your future spending goals before filling out the application form because financial ... IT card members can use points to save when buying furniture from I.T. According to Amex, by consolidating credit-card spending on one card customers can accumulate points faster and enjoy ...

  10. In Brief

    Posted Mar 10th 2004, 12:00am by Staff Reporter

    ... Visa chief warns of china credit-card meltdown Easy credit, slow progress in setting up a ratings bureau and too many entrants pose dangers to China's nascent credit-card industry, Visa International warned. Visa China chief Albert Shiung said China could face a South Korea-style credit meltdown along the lines of LG Card. 'If you don't manage the risk, ...




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