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Leaving Sin with CC debt

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Panadoca
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Leaving Sin with CC debt

Postby Panadoca » Tue, 23 Aug 2016 5:30 pm

Hi there,

For a new job I will need to relocate but have a open CC (Amex) debt of 10 000k. I am not planning to run away since I am planning as well to be back in future. I would prefer to go to the bank and to inform them that I will take care for the debt with transfer from my new location. I hope they will accept that :)

Will be there any challenge at the airport or with my local bank if I inform them that I am relocating but can not close the debt right now ?

Thank you

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sundaymorningstaple
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Re: Leaving Sin with CC debt

Postby sundaymorningstaple » Tue, 23 Aug 2016 5:42 pm

As long as you make regular and timely payment of the required amounts you will have no problems at all. I've been using my US CC's here for 34 years with no problem, but I pay them promptly.

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Re: Leaving Sin with CC debt

Postby BBCWatcher » Tue, 23 Aug 2016 5:55 pm

You don't have to do anything special. Just notify the credit card company of your new address and continue paying your credit card bill, preferably as quickly as possible but certainly no less than the minimum monthly payment. For at least the direct American Express-issued cards in Singapore you'll need to telephone AMEX to report a new address overseas. An overseas change of address isn't possible online. But you just call them and matter-of-factly report your change of address, that's all. No further explanation needed.

As always, whether you move or not, the credit card company has no obligation to keep the account open. That's their decision. Whether or not AMEX closes the account, you are contractually and legally required to pay for all legitimate charges, plus any interest and contractually agreed fees (such as late fees, if any).

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Re: Leaving Sin with CC debt

Postby BBCWatcher » Tue, 23 Aug 2016 6:02 pm

Panadoca wrote:For a new job I will need to relocate but have a open CC (Amex) debt of 10 000k. I am not planning to run away since I am planning as well to be back in future.

By the way, if you were not planning to come back to Singapore, does that mean you would default on your debt? ;)

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Re: Leaving Sin with CC debt

Postby Panadoca » Tue, 23 Aug 2016 6:11 pm

Thank you both,

yes I paid always at least the minimum amount on time. Its through DBS, any difference ? Or do I have to contact AMEX directly ? Actually I would like keep the account.

Thanks!

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Re: Leaving Sin with CC debt

Postby Panadoca » Tue, 23 Aug 2016 6:12 pm

BBCWatcher wrote:
Panadoca wrote:For a new job I will need to relocate but have a open CC (Amex) debt of 10 000k. I am not planning to run away since I am planning as well to be back in future.

By the way, if you were not planning to come back to Singapore, does that mean you would default on your debt? ;)


Hi no, I am always paying my debt, even if it takes time sometimes :) Ive been living in Middle East before and did the same, paid back once I settled down in Singapore.

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Re: Leaving Sin with CC debt

Postby BBCWatcher » Tue, 23 Aug 2016 6:14 pm

Panadoca wrote:Its through DBS, any difference ?

Sure. You contact DBS to report the change of address for all your DBS/POSB accounts, including your DBS AMEX credit card account.

Actually I would like keep the account.

That'll be up to DBS to decide. You have no control over DBS's decision.

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Re: RE: Re: Leaving Sin with CC debt

Postby ecureilx » Tue, 23 Aug 2016 6:15 pm

Panadoca wrote:Thank you both,

yes I paid always at least the minimum amount on time. Its through DBS, any difference ? Or do I have to contact AMEX directly ? Actually I would like keep the account.

Thanks!


Here is something you need to know.

Money owed to DBS, for Visa, Amex or Master Card, is money owed to DBS, you don't talk to anybody else or transfer the money due to DBS to somebody other than merciless debt collectors... or did you find out something nobody else knows about ?

Panadoca
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Re: Leaving Sin with CC debt

Postby Panadoca » Tue, 23 Aug 2016 6:17 pm

No I transferred money always through DBS.

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ecureilx
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Re: RE: Re: Leaving Sin with CC debt

Postby ecureilx » Tue, 23 Aug 2016 6:18 pm

Panadoca wrote:No I transferred money always through DBS.

What do you mean through DBS ?

Who issued the card ?

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Re: Leaving Sin with CC debt

Postby Panadoca » Tue, 23 Aug 2016 6:19 pm

DBS. I got the AMEX from DBS

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Re: Leaving Sin with CC debt

Postby BBCWatcher » Tue, 23 Aug 2016 6:20 pm

Panadoca wrote:Hi no, I am always paying my debt, even if it takes time sometimes :)

Excellent. As a polite suggestion, it's best not to imply otherwise in what you write. Otherwise you might be underselling yourself and harming your own reputation.

On edit: I agree with Ecureilx. DBS issued your card and is your creditor, so you deal with DBS. (Not American Express, which also issues AMEX cards.)
Last edited by BBCWatcher on Tue, 23 Aug 2016 6:22 pm, edited 1 time in total.

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Re: RE: Re: Leaving Sin with CC debt

Postby ecureilx » Tue, 23 Aug 2016 6:22 pm

Panadoca wrote:DBS. I got the AMEX from DBS

Then you owe DBS, not AMEX..

And DBS can pull the plug on your card and declare you default as they wish.

Especially since DBS doesn't take it easily for foreigners who left Singapore


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