Credit Card & Loan

I got a little pissed off with an agent from some BANK. I dun wish to mention the bank cos its not the bank's fault but its the agent who did not inform me accordingly.

Last week I got this call from this agent from XX bank, introducing me a package where there are 3 products tied together - 1 personal loan, 1 credit card, 1 funds transfer thingy. It can give me up to 4 times my salary. So I asked bout the annual fee. He said it was free (I cannot remember if he mentioned it was free only for 5 years).

So he kept rambling on the goodness of the product and kept harping on the repayment structure and loan calculations and interest rates and stuff like tat. I lost my cool when he asked about how long my loean tenure will be. I told him, how would I know the tenure now when I am not taking a loan and I dunno how much will be my future loans also, how to tell him to fix a tenure period? I even told him if smaller loans of cos take shorter time to pay, big loans take longer time to pay. He said he needed the info to key into the computer cos he is applying online for my application. So i jus said, put the longest tenure which is 5 years repayment period.

And he had to call me back 3 times cos I cannot decide on the loan tenure and he needed more info from me. I shot him back saying if this kind of credit (assumingly fast credit) thing need to take so long and so many details need to be filled in, then I wun sign up cos its so troublesome. He kept trying to tell me interest rates and loan calculation and repayment rates and everything. I had no time for him seriously cos every call took an average of 15mins.....

So finally i jus told him, put the longest tenure and he did and finalised the whole thing.

Then today I called the XX bank cos I wan to confirm if the annual fee for the credit card was waived. Cos no point paying annual fee for the damn card when you dun use it at all rite? Yup, it was waived for 5 years and to my horror and shock, I realised that wat I signed up was actually A LOAN that is 2 times my salary.

I nearly screamed at the agent but luckily I didnt cos she wasn't the one who created this mess. I immediately cancelled the whole thing cos I didnt know that the things I signed up for, were actually a loan and not the credit and cashline type of things. She told me that once the loan is approved they will send me part of the money. I screamed at her asking her when did I ever say I was taking a loan?

I really dun understand. Why would this bank call people up and offer them a loan when they dun need it? I am angry cos I wasn't properly informed and I am going to shoot a letter in to complain about how they go about doing their business. Jus imagine if I didnt call up and the loan was processed, won't I be incurring interest charges FOR NOTHING? Cos I dun need a loan!!! Why should i pay them interest rates for giving me something that I dun need? Angry rite?

And another best thing - that agent didnt inform me that after the 5th year, the annual fee for the credit card would be charged to my card without informing me. And mind you, the damn annual fee is $180 for that lousy card. I rather go to other banks for credit cards cos at least there are some perks coming along with it.