It seems like everybody here is simply trying to highlight their bad experience with the banks.. People are ready to file suits..Helping each other by giving contact of their lawyers...Calling banks goondas, criminals..One person even suggests that Mr K V Kamath (ICICI bank chairman) needs to be reprimanded for his "mindless" and "deficient" services by means of credit cards...Haha...making money avalb to millions, getting an entire infrastructure in place so that people can enjoy more financial freedom or convenience is seen as "mindless & deficient" service..Let me remind people that ICICI credit card are still the most well managed credit card company in India..Even I have had a couple of minor bad experiences but they are far insignificant to the number of good expereinces I have had.. I beleive most people are either too afraid of using credit cards, dont know how to use them well or simply have a preconceived notion that all the banks are here to loot us... Our banks have enough stagnating funds which no one uses and are thus able to give credit cards by the millions... Banks thus allow better circulation of money which would otherwise been unaccesible... In Delhi all my shopping could be taken care of by credit cards.. No carying loads of cash around..No need of managing change.. The ICICI and SCB credit card I use have my photo and even if I were to lose it the other guy cant use it because of my photo on the card.. Moreover I store the credit card no and the banks call centre no on my mobile to call the bank and block the card in case anything goes wrong... The banks are only trying to offer us an improved service... They even offer various insurance services like 90 day theft insurance on purchases, life insurance when travelling by road or rail.. Also the call centers do provide assistance (which may not be accurate or very reliable) unlike the bank which works only for a couple of hours.. Look at the employment banks create by CC staff working 24 hours in call centres...Alas some people are still stuck in the old mindset that only sarkari banks are honest and private ones here to run away with the money.. Ok if u dont like credit cards what alternative do u want.. Imagine standing in the loan queue...Going to the bank, fill details, show income, explain your needs... If this is what u like plz go ahead with it.. My credit cards give me lakhs of rupees for a credit free period of 40-60 days and that too without any hassles..I remember when I wanted to fly home on my birthday and didnt have adequate ammount of cash ICICI bank credit card allowed me the way.. It saves me the harrasment of begging for money from freinds or near and dear ones who may or may not help as per their moods... Credit card allows me the piece of mind that some money is always avalb at my disposal.. All credit cards have the cash advance facility where you can take get cash available from the chain of ATM's around.. Moreover online and overseas purchases are difficlut without a credit card.. Also credit cards have become international and can be easily used abroad.. Credit card is like a dual edged sword..Use it well and it can bring happiness in your lives.. If u r careless or dont understand how to use it properly it can also bring about misery.. I do agree that there have been a few shoddy instances but that does not allow you to call for a close on the system.. The banks can never force you to use a credit card if u r too comfortable with u r sarkari bank and carrying cash around... Please look at both sides of the coin...While the world has gone ahead with credit cards which are a reflection of the lifestyle and credit worthiness of a person I find that the current mindset of my people who make life difficult for our banks who are only making a better service available...Credit cards are modern way of managing and people need to be educated about them... Alas what the media and other ppl will generally tell them is the banks are trying to "loot" you which is not really the case.. Highlight your concerns, problems but please do not try to throw away a system just because you had a couple of bad experiences...
RE:Hold on Guys , u r getting it wrong !!!
by N Venugopal on Feb 06, 2007 10:14 AM Permalink
He is credit card manager- stupid, and a ICICI Bank representative, writing para after para just to confuse himself and others, some where "please" and some where "ALas". Now, the credit card people feeling the heat as growth of the card is coming down, and many are surrendering their cards.
RE:Hold on Guys , u r getting it wrong !!!
by Raj Sekhar on Feb 06, 2007 09:20 AM Permalink
Yes, this guy seems to be a Credit Card Agent and thus he has appreciated the working of credit card issuing banks.
RE:Hold on Guys , u r getting it wrong !!!
by Mohan Ramamurthy on Feb 06, 2007 10:35 AM Permalink
We are all not dumb Mr.Yogi. We know the advantages of credit cards. You sound as if everyone is a novice. What is being discussed is with the presumption that everyone understands the rules and how banks are trying to bend the rules to suit them. Please spare us the sermon..............
RE:RE:Hold on Guys , u r getting it wrong !!!
by Yogi on Feb 07, 2007 12:28 AM Permalink
Haha...going by that logic anybody who speaks in favour of the banks is an agent/associate and anybody speaking aginst them a victim... To be honest enough I am neither of the above.. I am an entrepreneur selling projectors who business is being financed by various credit cards...If u need a home projector to watch TV/movies/play games or even presentations I could sell you one for Rs 25K... Your negative view towards the banks on credit cards is biased..
