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  1. Firms forced to wait for credit card cash

    Posted Oct 27th 2008, 12:00am by Dennis Eng

    ... Dennis Eng Banks are making businesses wait two months to cash in their credit card receipts amid the credit crunch, and industry representatives want more direct government action ... cash-flow problems worse by taking 60 days to make credit card payments to businesses. Previously, this only took a few days. 'Many small businesses tell us that the situation with banks ...

  2. Watchdog targets credit card ploys

    Posted Aug 16th 2008, 12:00am by Dan Kadison

    ... Dan Kadison and Tiffany Lam Minimum spending limits and surcharges are prohibited, says Consumer Council Minimum spending limits and extra surcharges for credit card purchases should ... spending limits are 'prohibited' practices. 'The Consumer Council has obtained the clear and unanimous assurance from the three major credit card associations, namely Visa, ...

  3. BEA to issue yuan credit cards soon

    Posted Nov 06th 2008, 12:00am by Staff Reporter

    ... Maria Chan Bank of East Asia, the fifth-largest lender in Hong Kong, will become the first overseas bank to issue yuan credit cards on the mainland, with a planned launch before the end of this year. The bank yesterday said its credit card system had passed inspection by the People's Bank of China, and it had worked closely with China UnionPay, the mainland's payment network, ...

  4. Environmentally friendly credit card to make schools green

    Posted Feb 25th 2008, 12:00am by Elaine Yau

    ... Elaine Yau Ten schools will get roof gardens thanks to the launch of an environmentally friendly credit card. HSBC's Green Credit Card scheme is due to be launched in April and aims to raise the environmental awareness of its customers and local students. The credit card is the first of its kind introduced in the local market. It is made of an environmentally friendly material ...

  5. Should banks let teenagers have their own credit card?

    Posted Oct 30th 2008, 12:00am by Staff Reporter

    ... Benson Chan, 17, Wah Yan College, Hong Kong No. More young people are in debt than ever, and most of them don't realise how serious debt can be. Increased access to credit cards won't help matters. Although credit cards can be linked to financial problems, they're neither good nor bad on their own. It is the abuse of credit cards, mainly due to inexperience ...

  6. University accused of using student IDs to get credit cards

    Posted Dec 22nd 2008, 12:00am by Staff Reporter

    ... Vivian Wu A university in Xian secretly used the personal information of at least 11,000 students to apply for credit cards as a return favour for a bank loan, the mainland's media ... in the capital of Shaanxi province , applied for the credit cards at a city branch of the Industrial and Commercial Bank of China from April to July without informing the students, according ...

  7. 16 arrests crack HK$2m credit card scam

    Posted Apr 09th 2008, 12:00am by Clifford Lo

    ... Clifford Lo A credit card racket that cheated 15 banks out of HK$2 million in the past nine months was broken with the arrest of 16 people, including three core figures, police said yesterday. Eight credit cards, six forged and stolen identity cards, bogus documents and about HK$30,000 in cash were seized when officers raided more than 20 locations on Monday. The syndicate, ...

  8. BEA banks on steady credit card growth

    Posted Dec 24th 2008, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai Bank of East Asia, Hong Kong's fifth-largest lender, expects that its new credit card business on the mainland will not make a profit in the next four to five years as it takes a go-slow stance in the consumer loan sector. The bank yesterday became the first overseas lender to issue its own yuan-denominated credit cards on the mainland in a major move ...

  9. 3 in court over false credit cards, passports

    Posted Dec 27th 2008, 12:00am by Joyce Man

    ... Joyce Man Police have charged three Japanese men with possessing fake credit cards and false passports after one allegedly tried to make a purchase at a duty-free store. Yausuhiro Kikkawa, 38, who attempted the purchase, had 13 false credit cards as well as the one he used at the store, and a fake passport, when police detained him at Duty Free Shop Hong Kong in Tsim Sha Tsui, ...

  10. HSBC raises interest rate on credit cards to 31.86pc

    Posted Dec 11th 2008, 12:00am by Staff Reporter

    ... cards, is raising interest rates on all its local personal credit cards to 31.86 per cent. The move, which follows those by other banks, will raise the base annualised percentage rate that HSBC ... were lifted to align monthly finance charges with those of other banks. Credit cards issued by Standard Chartered charge a base annualised percentage rate of 28.4 per cent, while Bank ...




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