Blank credit cards seized by Vũng Tàu police. — Photo congly.vnViet Nam News BÀ RỊA-VŨNG TÀU — Police in the southern province of Bà Rịa-Vũng Tàu have arrested 22 Chinese citizens accused of making fake credit cards and organising gambling over the internet. The police surveilled the group of Chinese nationals, allegedly involved in using technology to carry out illegal activities in Vũng Tàu City. On Wednesday, provincial police in co-ordination with the Ministry of Public Security raided three villas and a hotel in Vũng Tàu’s wards 1 and 2. The group of 20 men and two women was caught using machines and electronic equipment to carry out high-tech crimes with Vietnamese accomplices who acted as translators. As many as 41 desktop computers, 13 laptops, 300 mobile phones, 200 blank cards and 33 credit cards issued by Chinese banks were seized by the police. They also took custody of … [Read more...] about 22 Chinese citizens arrested in Vũng Tàu for credit card fraud
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Credit card race heating up with more competitors
VietNamNet Bridge - Small banks and finance companies are now rushing to issue credit cards and compete with big banks as they believe the development potential of the credit card market remains great. The total number of cards issued by the end of the second quarter of 2018 had reached 141.6 million, an increase of 7.3 percent compared with the beginning of the year, according to the State Bank of Vietnam. The number of cards issued has been increasing steadily in recent years, as non-cash payment methods are becoming more popular. Of the 141 million issued cards, more than 90 percent are debit cards, while other types of cards, including credit cards, account for a very small proportion. Meanwhile, Vietnam has over 70 million adults, and income and spending growth rates among the highest levels in the region. As for banks, developing credit cards can bring higher profits thanks to the higher interest rates than normal lending. They also have earnings from different types of … [Read more...] about Credit card race heating up with more competitors
6 Common Misconceptions About Credit Cards
Do you know you should not hold too many credit cards? If you think it’s because it will hurt your credit score, then you, like many others, have misunderstood how credit cards work. Despite the rising popularity, many people these days still hold on to wrong notions about credit cards. There are many aspects of these cards that are still generally misunderstood. It’s not the credit cards, but these misconceptions that can cost you dearly. Check out some of the most common misconceptions about credit cards: Do not accept an increase in your credit limit If you are punctual with the payment of your credit card bill, your card issuer may offer an increase in your credit limit. You may think that the bank is trying to trick you into spending more. However, you can use this opportunity to your advantage. If you accept the increase in your credit limit and continue to spend the same amount … [Read more...] about 6 Common Misconceptions About Credit Cards
VIB launches premium World MasterCard credit card
Clients register for opening credit cards at a VIB branch in Ha Noi. — VNS Photo Vietnam International Commercial Joint Stock Bank (VIB) last week launched a premium credit card —VIB World MasterCard. The card provides special offers on dining, travelling, relaxing and shopping to cardholders who often go on business or travel aboard. By now, banks in Viet Nam have introduced many kinds of credit cards designed to meet the needs of each group of customers, ranging from common consumers to businesspeople. “VIB World MasterCard credit card has been designed for the convenience and benefits of cardholders, specifically those who often travel within the country or abroad, be it for personal or business reasons,” VIB said in a statement. VIB World MasterCard cardholders can use a credit limit of up to VND1.2 billion (nearly US$53,000), with an interest rate of zero per cent within 55 days. Cardholders can get many offers at airports, such as free services up to … [Read more...] about VIB launches premium World MasterCard credit card
Sacombank rolls out promotion for new credit cards
Sacombank has launched a lucky draw for individuals applying for credit cards, with everyone guaranteed to win a prize. — VNS Photo Sacombank has launched a lucky draw for individuals applying for credit cards, with every applicant guaranteed to win a prize. When a customer activates their card, they will go into a lucky draw at https://vongquay.sacombank.com.vn, which offers prizes including four 55-inch smart TVs, cashback of VND200,000 and VND100,000, and thousands of helmets and phone cards. Then, for each card transaction worth VND500,000 or more, customers will receive a code for a lucky draw at the end of programme, which will have prizes like an SH Mode scooter, blenders, vacuum flasks, and superfast kettles. They will get three times the number of lucky codes for using QR code scans for payment or withdraw money using mCard, make payment through Samsung Pay, or take part in the zero interest instalment programme. The programme runs from May 28 to June 27, and gifts … [Read more...] about Sacombank rolls out promotion for new credit cards
Sacombank unveils promotion for online credit card application
Sacombank unveils a promotion called "Apply for credit card online - Instantly receive cool gifts" targeting individual customers applying for international credit cards. — VNS Photo Sacombank has launched a promotion called "Apply for credit card online - Instantly receive cool gifts" targeting individual customers applying for international credit cards. Customers who successfully register for cards will receive a suitcase or an umbrella. People issued JCB Ultimate, Visa Signature and World MasterCard cards will get a voucher worth VND1 million (US$43.8) if they carry out transactions worth VND2 million within 30 days. The promotion will go on until September 30. — VNS … [Read more...] about Sacombank unveils promotion for online credit card application
Apple, Goldman Sachs collaborating on credit card
Apple is working with financial giant Goldman Sachs on a credit card that would carry the iPhone manufacturer's digital wallet logo, according to a report on Thursday (May 10) in the Wall Street Journal. Apple, Goldman Sachs collaborating on credit card, photo AFP The move comes as Apple puts increasing focus on revenue from online services and content, and as Goldman Sachs seeks to make more money from consumer banking operations. Apple declined to comment on the report, which cited unnamed people close to the matter. A joint credit card bearing the Apple Pay brand could launch early next year, and replace a rewards-card partnership Apple has with Barclays, according to the Journal. Apple, which still gets most revenue from the iPhone, reported a hefty rise in earnings during the first three months of this year, alleviating worries about the iPhone's prospects and a hit from US-China trade tensions. Analysts praised a big jump in revenues in Apple's services business, which … [Read more...] about Apple, Goldman Sachs collaborating on credit card
Vietnam agents warn against buying third-party air tickets booked with stolen credit cards
Purchasing an air ticket bearing totally legitimate and valid information from a third-party might be all it takes to turn your dream vacation into a nightmare. Nearly ten passengers have sent complaints to Tuoi Tre (Youth) newspaper after being denied flying with Vietjet tickets that were properly booked with correct information after the bookings were found to have been purchased with stolen credit cards. Some ticket agents suggest that these disgruntled travelers are the victims of scammers who bought the tickets with stolen credit cards before reselling them at rock bottom prices. Denied flying In August 2017, Truong Thi Bao Trinh asked a ticket agent named Chu Hai Yen to book her a Saigon – Hanoi flight at the lowest possible price. Yen then made a request on a Facebook group for ticket sellers where she received an offer to transfer a Vietjet ticket for VND1.65 million (US$73) from Pham Thi Trang, a Ho Chi Minh City resident. The normal rate typically sits around VND2 … [Read more...] about Vietnam agents warn against buying third-party air tickets booked with stolen credit cards
15 years old persons can use credit cards
That is one of noteworthy contents in Circular 26/2017 by the State Bank of Vietnam to amend and supplement Circular 19/2016. The new circular permits people from six years old to under 15 years old with full civil act capacity to use debit and prepaid cards instead of no-overdraft prepaid and debit cards as before if their legal representatives agree in writting. According to previous regulations, those aging from 15 to under 18 must have private properties to ensure that they can conduct their missions in car use to be permitted to use the above cards. By NHUNG NGUYEN – Translated by Hai Mien Tags: credit cards Circular 26/2017 State Bank of Vietnam … [Read more...] about 15 years old persons can use credit cards
New limitation of foreign currency withdrawal for Vietnam`s credit card holders
The new regulation would go into force from March 3, 2018. Specifically, a card holder can withdraw a maximum amount of cash in foreign currency equivalent to VND30 million (US$1,300) per day. For cash withdrawal at domestic card accepting units, each card holder can withdraw maximum VND5 million in one day. This is in line with newly-issued Circular 26 by State Bank of Vietnam (SBV) concerning bank card operation. For the withdrawal of cash by cards abroad, to limit the use of cash as foreign currency spent for improper purposes that are not permitted by the law, the circular stipulates that cash withdrawal transactions will be subject to a daily cap limit The circular also states, in case of issuing credit card with collateral asset, the credit line will not exceed 80% of the asset’s value, which is not over one billion VND. lso supplements regulations on the issuance of cards to foreigners to prevent the case where foreigners enter the country for a … [Read more...] about New limitation of foreign currency withdrawal for Vietnam`s credit card holders