匯流新聞網

By Pan Yonghong, Journalist of CNEWS, Taipei

Paying annual fees and clearing monthly credit card bills faithfully, only to have the card suddenly suspended by DBS Bank? CNEWS Confluence News Network received consumer complaints alleging that DBS Bank suspended their credit cards without warning. This resulted in the loss of years’  worth of accumulated air miles, and the consumers have received no reasonable explanation, with customer service repeatedly providing cold responses. In response, Legislator Kuo Kuo-wen stated on the 17th that after understanding the case, he would request the Financial Supervisory Commission (FSC) to further investigate.

Complainant Mr. W applied for the DBS Flying World Card in 2019, with the card being issued on August 5 of the same year. Four years later, on November 16, 2023, Mr. W’s credit card was suspended without warning, instantly nullifying the accumulated 472,414 air miles.

Mr. W mentioned that he paid the annual fee on time and cleared the card bill monthly, yet he could not understand why DBS Bank suspended his card. He repeatedly called DBS Bank for inquiries but always hit a wall. He said the bank neither provided a reasonable explanation nor disclosed his total spending amount.

When asked about the issue, Legislator Kuo Kuo-wen, Chair of the Legislative Yuan’s Finance Committee, stated that specific cases should not be viewed as simple consumer disputes. This involves consumer protection issues and the bank’s consumer regulations. He emphasized that banks often use various promotions to attract consumers to apply for cards or deposits, but the FSC should play a more active role and not allow banks to unilaterally terminate contracts without warning.

Kuo Kuo-wen pointed out that the Ministry of Finance and the FSC have been vigorously promoting the so-called ESG principles recently, but if they cannot even achieve basic consumer protection and contract fulfillment, how can they talk about ESG? He said that if the party involved is willing to provide relevant information, he will request the FSC to address the issue systemically at the Finance Committee to ensure consumer rights.

Additionally, Legislator Wu Lihua, when interviewed, stated that it is extremely unfair to consumers if the accumulated air miles from long-term credit card usage are forfeited due to card suspension. She noted that although consumers can reflect their issues through general complaint channels, current understandings indicate that such complaints have not been accepted or responded to, and she will further investigate the situation.

Wu Lihua said she would question the relevant departments in the Finance Committee to explore how to address this issue to protect the rights of the people. She urged the relevant authorities to take this issue seriously and ensure that consumers’ accumulated air miles would not be lost due to card suspension.

Photo Source: CNEWS File photo

《More CNEWS reports》

Exclusive／8-1【With Video】Bank Canceled Card Without Reason, Nullifies 470,000 Air Miles; Consumer Complains DBS is the Worst Bank in Taiwan

8-4／DBS Unjustly Cancels Card, Nullifies Over 470,000 Frequent Flyer Points Cheng,Cheng-Chien Calls for Regulatory Action

【In case of article forwarding, please cite the source】