When passing through a shopping mall or just walking down a street, we can easily see people promoting credit card sales. At the same time, we are aware that some kinds of sales promotions are illegal. Do you exactly know which is considered ‘illegal’?
Read the case scenario below, and think about what is wrong.
Amy and Brendon are friends and, both of them are credit card sales agents. Amy is working for ABC credit card company, and Brendon is employed at XYZ credit card company.
Amy, being sick on the other day, could not work. Being worried about her sales figure for the day, Amy asked Brendon to work for her. So, she gave him all the application forms and brochures used for sales promotion of ABC credit card.
To do a favor for Amy, Brendon promoted sales for ABC credit card. As you were walking down a street, you found a stall on the street where Brendon was doing his sales promotion. Brendon promoted sales for both ABC and XYZ credit card.
Can you pick the factors contributing to illegal credit card sales promotion?
First, Amy cannot ask Brendon to promote sales of ABC credit card. A sales agent can only promote credit card issued by his/her company. Promoting sales for any other credit cards is illegal. Second, sales ‘on the street’ or ‘at public venues’ is forbidden. Public venues include park, school, theme park, exhibition center, sports field, terminal, etc.
So, if you notice such a situation, what will you do? Please report this illegal credit card sales promotion activity, and you will be compensated for it. This new measure is effective as of 1st of December, and the reporting center will be run by the Credit Finance Association, Financial Supervisory Service, and credit card companies.
I will introduce another case scenario for the next post, and you will have a clearer idea of what is illegal credit card sales promotion!