Rex Hsu said:
There is another widespread practice by banks which absolutely confuse you. Many banks issue 3 or more different visa/mastercards. Card A can get special discount at retail and dining, Card B can use for mrt discount, card C can use for petrol discount, Card D is a ladies special card, each card also can have a supplememtary card, each card carries a different annual fee, which you can ask to waive by phone call (if you remember). Many banks tell you, get a great discount for joining after that can cancel one card, or both card to avoid annual fee, no problem. My wallet is full of cards, i dont know which card to use, even the same bank issue 2 cards at a time to you. Such is the confusion and low productivity in Singapore.
It is a wasteful practice. The product managers have KPI on number of cards issued. So they work to issue many cards (and allow waiver of annual fee) to meet the KPI. I get the impression that Singapore is a wasteful society.