If one person borrows cash its imperative that it has to be returned. There are many customers who make a transaction and simply dont return the cash. I have 2 credit cards for close to 8 years now and many times i have carried forward t balance by paying just the minimum due. Both banks havent resorted to such methods yet (touchwood!) Its very much possible that banks would have sent the goonda after sending legal notices which the customer would have happily ignored or shifted their residence/place of work. Because of such 'fly by night' customers the credit card risks are high and genuine repayers like me have to cough out 3% p.m (thas 42% p.a) to cover their follies. Damn you malpracticing customers!
RE:RE:On the other hand!
by Truth Teller on Feb 06, 2007 12:16 AM Permalink
Well Mr. Pankaj... I have a suggestion for you. If you remember that you had not given any of your bank account information in the application, then you can surely use the credit card. As mentioned by another rediff user, an average american has atleast 2-3 credit cards and using credit card is mandatory here to build credit history. But even here in US, we have to pay the money before due date. So likewise... go for the credit card. Use it. Then pay the due before due date. Dont make late payments. Then no goondas would be at your door.
RE:On the other hand!
by srikanth patnam on Feb 05, 2007 03:41 PM Permalink
I completely agree with Ms.Chaitra, i've been using credit cards from 3 different banks since the last 6 years and have never faced any kind of probelm as in the illustration. Its while applying for the card its your duty to go through the terms and conditions and only if satisfied, then sign the application. And every layman knows that the billing happens once a month, is it such impossible task to keep check of the statements on time, if you have not received then any bank is just a call away or a few clicks away. The entire fun of using a credit card will be lost by customers like amit.
