Credit Cards

The Recent Straits Times Report on the Platinium War [May 28th 2005] raised my awareness of the Credit Consumerism in Singapore.

According to official statistics, there are 3.9 million credit cards issued in Singapore. Although on the average 1 out of 5 Singaporeans clear their credit cards payments in full by the end of each month it is the highest contributing factor of bankruptcy in Singapore with the last number totalling 21,877 according to Official Assignee [OA] figures.

From a different perspective, this means 4 out of 5 Singaporeans do not clear their credit payments on time. So far only one case scenario has been highlighted by The Straits Times in providing possible reasons why these people have defaulted on their credit payments.

According to Mr Leong Sze Hian, a financial planner, some possible reasons could be "..when there is some financial problem and an individual attempts to max out his cards... like drugs.. very hard to stop."

Therefore, as a responsible credit card user, you should understand the terms used by your issuing bank. Among those you're likely to find are the following:

Miscellaneous Fees
Some card issuers require an annual fee - the amount you must pay to get a card or to renew it every year. Some banks also charge fees for submitting an application, for being late with a payment, for taking out a cash advance, for exceeding your credit limit, or for maintaining a zero balance. Read your statement carefully so that you know all of the terms and conditions.

Grace Period
This is the number of days the bank allows you to borrow their money interest-free. Grace periods vary, usually from two weeks to 25 days, depending on the bank that issues the credit card. This period is usually applied to new purchases, but only if there is no old balance being carried forward. After the grace period expires, if you haven't paid your balances in full, interest can be accrued from the date of purchase.

Some cards do not offer interest-free grace periods, and you start incurring interest from the date of any purchase.

Cash Advances
The issuing bank or financial institutions treats cash advances like loans, not like purchases or merchandise. When you take a cash advance, interest begins to accrue differently - sometimes without a grace period and at a higher rate. Check with your card-issuer for cash advance fees and interests.

Interest Calculation
When you use your credit card, the issuing bank or financial institution is really giving you a loan for the amount of your purchases. The bank charges a fee - called interest - for using its money. The credit card company pays the travel agent or the furniture store within a few days of the transaction, and you must begin repaying the loan when your monthly statement arrives in the mail.

All interest charges can usually be avoided by paying the balance in full within the time limit specified on your statement. Check the fine print though, because some banks charge a fee for maintaining a "$0 balance" or don't have a "grace period".

If you choose not to pay all you've borrowed from the bank - banks call that "revolving the balance" - interest will be charged. Obviously, the quicker the balance is paid in full, the less interest is paid. Be sure to learn about the terms and policies of your credit card. Interest rates will vary by card, some may begin charging immediately without any "grace period". Some start charging interest from the date of transaction or the date when the transaction is processed in the system. Others may start charging interest from the date on your statement.

Banks use various methods to calculate interest, and it's up to you to learn how your bank computes these charges. Unlike a house mortgage or a car loan, credit card interest can be charged by the day or by the month.

If you do not pay the balance in full, interest on the unpaid amount, or revolving balance, will be added to the total amount owed. When this happens, you are paying interest on interest, also called compound interest. Any new purchases you make can be included in the total balance immediately and will begin to accrue interest from the date of purchase. If you have a large balance, paying only the minimum amount each month can be an expensive way to use your credit card.

Try to anticipate your credit needs. A few months before the holidays or before you head off on that dream vacation, start paying down your balance by sending in more than the minimum payment. When you begin charging holiday gifts or charging for your vacation, you won't be piling new bills on top of old ones, and there will be less chance of exceeding your credit limit.

Be sure to know what your APR (annual percentage rate or interest rate) is, and always include the cost of credit in your budgeting or money management.



So my friends, this is a little knowledge I can share with you. "Know yourself" should be the motto of anyone shopping for a credit card. A bit of research and a good deal of self-analysis of your credit needs and bill-paying habits should lead you to the right card. Regardless of which card you choose, use your card wisely, and repay your debts on time.


Me? I'm choosing to stick to my Debit Card.

Slimming

I do believe some of us have discussed about this matter before but it left me disturned when I happened to watch a recent broadcast of some chinese variety show [or something of that nature] on TV Mobile.

A young lady who appeared to be in her mid-20s was pleading for a chance to "regain her confidence" because the host of the show was asking for interested personnel to write in with personal details and reasons stating why he or she should be given a chance to partake in the slimming programme that they are showcasing.

So she was accepted and underwent herbal treatments, spa and massaging with some nutrition facts and exercises.

She lost about 6kg after 6 weeks.

Now I recall - the show host was Irene Ang and what was the first thing she did when she lost weight? She went into a pub and sat alone and waited for guys to pick her up.

A feeling or revolt and disgust with a bitter taste in my mouth was the first thing I experienced.

If this is the reason she wanted the slimming programme in the first I say - Blessed be the Slimming Centres because you are going to have an addicted customer on your hands.

Firstly, allow me to comment on her eating habits - She snacks and she takes supper very often. No doubt some people are not able to put on weight despite the amount of food they take, she should be conciously aware that her body is obviously not very adapting to supper. Obviously she cannot break down the late night food fast enough thats probably one of the reasons why she puts on weight.

If she had experienced ridicule by her colleagues and family members and is suffering from emtional trauma by all the means go ahead. However, she has explained in details how she selects her clothes - Majority black. She is even aware of what positions are the best when sitting down so as to 'conceal' her flabby areas. This proves that it is her inferiority complex that is causing her distress not external environment or people.

She has no hobbies or sports remotely connected to exercise. Now why am I not surprised? I do believe if she does have a regular exercise routine even if the physical image is not exactly presentable the inner self would achieve some form of happiness because people who exercise regularly tend to have a better sense of self-confidence because they know that they are healthier and have a better appetite than most people.

In an additional note to the third point, a personal disposition of optimism can achieve better health and better appetites as well. Go on, take a look at the people around you. You would notice that healthy people or happy people tend to look at the people in the eyes or at the face direct. That's because they have a better sense of self-confidence.

She appears to be lacking in happiness and optimism from the way she describes herself though.

Pardon me for being peeved. I am not angry with her being pessimistic or having a sense of inferiority complex but rather, I'm peeved because the first thing she did when she 'lost weight' is to go to a pub and wait for guys to pick her up. The variety show has announced this as an 'official measure' of whether their programmes have worked.

Such sadness.

Questions

Hi people,

I'm sure some of you have wondered why it takes me quite a while to continue the parts of the story i have started. Well the truth is, I'm preparing for my upcoming exams and the first paper starts this 12th May till 17th May following one darn stupid paper on 10th June.

I'll be creating a new blog for this story that I have started. Figured it should not clash with this current blog because I'm using this blog after all to blog about my thoughts and things that happened in my life.

In the meantime, my PC has also crashed. It won't even start up so here I am in an internet cafe [which i haven't been to one since God knows when] updating my blog while clearing my recently near over-flooded emails because I haven't been able to log on for a while.

This entry in its actual content is short [not]-

A question that looms inside my head and it won't go away.

Are people very disturbed once their level of physical intimacy rises? Is the factor of the relationship being in its infantile stages a big reason for this worry?

Does an increase [perhaps big] in the level of physical intimacy bring about unfounded worries like.. the other party not willing to bear any responsibility? But if the other party has expressed his/her desire to be together and has constantly reinforced this emphasis then what appears to be the worry that hogs the confused party? Is it simply being uncomfortable getting too cosy when the level of understanding is not deep enough? Should there not be communication?


A quote in my head that won't go away.
"..When you realize you want to spend the rest of your life with somebody, you want the rest of your life to start as soon as possible."
~ When Harry met Sally (1989)

So happens a big increase in the level of physical intimacy within months of the relationship. The questioning party has gone into solace, refusing to acknowledge any attempts by the other party to enquire about their well-being. Leaving the other party in utter confusion and state of near breakdown worrying as well.

What made me amused was this conversation

Harry Burns: You realize of course that we could never be friends.
Sally Albright: Why not?
Harry Burns: What I'm saying is - and this is not a come-on in any way, shape or form - is that men and women can't be friends because the sex part always gets in the way.
Sally Albright: That's not true. I have a number of men friends and there is no sex involved.
Harry Burns: No you don't.
Sally Albright: Yes I do.
Harry Burns: No you don't.
Sally Albright: Yes I do.
Harry Burns: You only think you do.
Sally Albright: You say I'm having sex with these men without my knowledge?
Harry Burns: No, what I'm saying is they all WANT to have sex with you.
Sally Albright: They do not.
Harry Burns: Do too.
Sally Albright: They do not.
Harry Burns: Do too.
Sally Albright: How do you know?
Harry Burns: Because no man can be friends with a woman that he finds attractive. He always wants to have sex with her.
Sally Albright: So, you're saying that a man can be friends with a woman he finds unattractive?
Harry Burns: No. You pretty much want to nail 'em too.
Sally Albright: What if THEY don't want to have sex with YOU?
Harry Burns: Doesn't matter because the sex thing is already out there so the friendship is ultimately doomed and that is the end of the story.
Sally Albright: Well, I guess we're not going to be friends then.
Harry Burns: I guess not.
Sally Albright: That's too bad. You were the only person I knew in New York.


So sums up the basic truth. No one can be friends with another person whom they ultimately find attractive. There will be physical intimacy involved sooner or later, except for the part where being unattractive will get nailed sooner or later. I think that's still pretty subjective.

Being attractive - skin deep? or EQ wise? What if EQ was the main factor while skin deep was secondary? Would this involvement be considered superficial then? Is it really impossible to give the heart of oneself when you know that deep within yourself you want to know this person for the rest of your life?

Don't deny the tears that had been shed. The eyes that did not shed tears, the heart was bleeding.