Forum
Last updated: 

How can I apply for the Debt Consolidation Plan and who is eligible for it?

If I am correct, the CIMB Platinum MasterCard’s Debt Consolidation is a debt refinancing program which offers the customer the option to consolidate all his unsecured credit facilities across financial institutions with 1 participating financial institution. How exactly do I go about applying for this plan?

User comments

  • user image

    No Name

    You may approach any of the 14 Participating financial institutions which offer the Debt Consolidation Plan to apply for a Debt Consolidation Plan. An applicant is only allowed to apply once with one Participating financial institution in Singapore as an applicant can only have one Debt Consolidation Plan. To be eligible for DCP, you must be a Singapore Citizen or Permanent Resident; and earn between $30,000 and $120,000 per annum plus have total interest-bearing unsecured debt on all credit cards and unsecured credit facilities with financial institutions in Singapore that exceeds 12 times of your monthly income. However, certain categories of unsecured loans are excluded from DCP, such as joint accounts, renovation loans, education loan, medical loans, and/or credit facilities granted for businesses or business purposes

    2019.08.01 4:13

Please leave your knowledge and opinion!

Recommending Forums

Who can please share with me the features and benefits you enjoy with the CIMB Platinum MasterCard?

CIMB Platinum Mastercard

Related Forums

Which University Majors in Singapore has the highest return on Investments?

Are there free sim plans in Singapore?

WHat is the cheapest unlimited mobile data plan in Singapore?

I'm looking for an unlimited mobile data plan that is cheap and reliable. I already have one which offers me Unlimited data and unlimited call and SMS but I'm currently on a budget and I don;t really call or send SMS so I'm looking for a low priced but reliable unlimited mobile data plan with adequate speed.

What is HSBC's personal loan in brief?

HSBC Personal Loan

What are the characteristics of a bond?

What are Stocks?

Related Reviews

Protection of up to 90 days for online purchases

The delivered on the promise of purchase Protection of up to 90 days when ensured reimbursement on an eligible online purchases I made with my Amex Express Gold Card. Irrespective where you buy online or shopping at the local supermarket, their Purchase Protection offers repair, replacement or reimbursement on eligible purchases made with the Card, that has been damaged or stolen within 90 days of purchase.

American Express Gold Card / American Express International

Family Package Rewards

My family had a really fun time with the 10% off Siam Adventure Club Family Package Booking which came with breakfast for 2 adults and up to 2 kids with a Kids room setup in room and full access to kids activities. We even enjoyed daily evening drinks for whole family on selected menu from 5pm to 6pm.

HSBC VISA Platinum Credit Card / HSBC Bank Singapore

Poor Customer Service

I am quite very disappointed with this card as I have never received the vouchers for all the points I have accumulated so far. I have on several occasions made complaints via the phone and even in person, but all to no avail. I would not recommend this card to anyone for this reason, i have to say unfortunately.

Citi Rewards Card / Citibank Singapore

Pleasant Rewards

In my opinion, this card is one of the best cards in the market especially as there are no expiry date to miles earned and an amazing 2 VIP airport lounge access. I love the fact that the card can be used for major big ticket items and to clock mileage. Redemption can be done easily without hassle and customer service staff are very helpful

Citi PremierMiles Visa Card / Citibank Singapore

Fee waivers and No transfe fees

The AMEX Express Singapore Airlines Solitaire PPS Credit Card gives a First Year Fee Waiver for you to enjoy and also for your supplementary card members. In addition there are no transfer fees and all the KrisFlyer miles you can earn are directly transferred automatically to your KrisFlyer account with no transfer fee. I would recommend this card for these few reasons which could really make the difference.

American Express Singapore Airlines Solitaire PPS Credit Card / American Express International

Emergency legal and medical assistance

Seldom would you find a card that has your best interest at heart as the AMEX Express Platinum Reserve Credit Card with its Emergency legal and medical assistance even when you are anywhere in the world. You can enjoy privileges around the globe with Live the World and American Express with all round protection against accidental damage or theft for your purchases.

American Express Platinum Reserve Credit Card / American Express International