Just wondering whether this is allowed?
Credit card use to come with a 30 days credit terms. ie if your
bill is at the 20 Jan, you got till 20 Feb to pay up or you
incurred late payment charges/interest charge.
Now DBS sneakily (says that they updated it in a printed
statement.. who does that when ppl r using internet banking) reduce
the period to only 20 days.
So there is 10 days credit taken off... hypotically, it means if
you owe the bank SGD 1,000, they will earn an additional SGD 6.50
(1,000*.24*10/365).
What are the recourse for this? Or do I cut off the credit and go
to another bank that offers 30 days credit?