All the card issuers including SBI do not have a proper system of informing the client well in advance the amount due with date. The statement mostly comes after the date and includes a handsome 3% interest charge. People like me who wants to use the card for convenience hate this interest charge. I have tried my best to convince the various marketing people to have a system of informing us in time by sms for payment due in full so that no interst charge will be incurred. Recently I subscribed to City bank Auto card co branded with Maruti suzuki. The marketing people agreed to sent SMS. I started using the card. In the second month itself I have received a statement with an interst charge inspite of receiving the SMS and paying the required amount much before date. The Interest charge of 3% should be immediately abolished. The cards should be issued only linked to any bank account. If the required amount is not paid on due date, the amount should be converted to a personal loan with normal personal loan interest for a period of 3 months. 3 months interest can be debited even if the amount is paid early. Various such acceptable ways are there where as no one is bothered about them. Out of 4 methods of inducing behavior- Sama, Dana, Bheda,danda- only method which will work these democratic countries will be only sama. Dana Can work in some places. The other 2 are illegal or will shortly be declared illegal. I will like to join as consultant for such initiative. tel 9967392222
