No More Automatic 20-day Interest-Free Period for Credit Cardholders
Credit card debts will increase when the 20-day interest-free period (the grace period where purchase will not be charged interest) will no longer be automatically enjoyed by all cardholders.
Consumers often find that they have been misled by advertisements — the offer is not what it appears to be. Many choose not to pursue the matter further but not Bryan Chua of Tawau.
The Consumers’ Association of Penang (CAP) has received countless complaints since 2008 via anonymous letters, telephone calls, letters of complaint and even read in our mainstream media, letters written by hapless flat and condominium owners, highlighting the tactics used by developers’ agents/contractors to force new owners to renovate their units at exorbitant charges.
The Consumers Association of Penang (CAP) refers to the article “Far from being rotten” ( NST – Property, June 23), by Datuk Eddy Chen, the immediate past president of REHDA, on why there is no need to change the present Sell-then -Build (STB) system. His argument is that abandoned projects form only a small portion of the millions of housing units successfully built, as such there is not need to change to the Build-Then-Sell (BTS) system or its 10:90 variant.
Greater transparency at auctions is needed to protect buyers of properties where no titles have been issued. This is because the auctioning of properties without titles (for example flats and apartments) is not regulated by any statutory provisions. Buyers are bound by the contract called the Proclamation of Sale. (PoS).