Dear Editor

I refer to "Issued unsolicited credit card a second time" (ST Forum, 22 Nov).

2   The Banking (Credit Card and Charge Card) Regulations ("Regulations") prohibit credit or charge card issuers from issuing unsolicited cards to individuals who do not already hold one of their existing cards. 

3   A card issuer may issue additional cards to an existing cardholder even if he has not applied for the additional card. However, regulatory safeguards have been put in place to protect the cardholder. First, the card issuer has to communicate to the cardholder that he will not be liable for any amount charged to the additional card until he has indicated his acceptance of the terms and conditions of use associated with the additional card either verbally or in writing. Second, the card issuer has to disclose the fees, charges and terms and conditions of use associated with the additional card. Third, the card issuer has to inform the cardholder that the additional card does not come with an increase in his credit limit with the card issuer.

4   Consumers who receive unsolicited cards from credit or charge card issuers in contravention of MAS' regulations should provide the details to us via email: consumers@mas.gov.sg .

Angelina Fernandez
Director (Communications)