Credit cards in Singapore

• Main Authors: Gan, Sok Keng, Lee Sock Bee, Teo Min Chii
• Other Authors: Low Kee Yang
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/64288
• Institution: Nanyang Technological University

This report records the authors' findings on credit card and its related issues in Singapore. Introduction to the topic started with a brief account of the development of credit card and the various 'brands' of credit card commonly seen in the local market . The basic concept of credit card, its arrangement, operation and its advantages and disadvantages were also studied. Another area of the study was the legal issues of credit card with respect to risks and liabilities of each contracted parties. The authors studied the bank - cardholder contract and the merchant - bank contract in great depth, highlighting areas which are likely to give rise to disputes. The MAS guidelines and its impact and future development of the card industry were studied as an attempt by the authors to conclude on the research.