We should be wary about some of the products sold by banks.
This week, I got a call from UOB Customer Service. Being a customer of their bank, this was not surprising.
I was expecting them to extend some personal loan or investment plan. This time it is a bit different.
The lady explain this new feature for my UOB One credit card.
How it works is that if I did not pay off my credit card bill on time on the due date, CreditSure will protect me in case something happens to me, this insurance will provide an amount equivalent to the amount of credit card debt owed.
If you go to UOB CreditSure page, you would be able to review the details.
The premiums for this plan is $0.55 on every $100 of credit card loan incurred and you get coverage up to $200,000.
The lady, …