Credit

I am slightly taken aback by the shame of Singaporeans who signed up for spa packages, paying installments with their credit cards, and when the spa close down, they approach the bank, asking for a waiver of the remaining charges.

The banks have explained quite clearly, they are merely a middle party paying in advanced for the customers, like any other deals transacted on a credit card.

Why can't the Singaporeans understand simple instructions? By asking the banks to waive the charges is effectively asking the bank whether they could shop without paying money if they realised afterwards that they should not have bought the item. Or, do they know what is a credit card in the first place?