|Author: Ramachandran Pattabiraman 25 Nov 2010||Member Level: Gold Points : 1|
|You are right dinesh, |
I am holding a credit card which put knife on my neck in one time (as I spent much on that) but it helped me a great when my mother admitted in hospital for treatment. So, everything is in our handling - we should not blam the cards.
|Author: DR.N.V.SRINIVASA RAO.,M.Sc.,Ph.D 25 Nov 2010||Member Level: Gold Points : 1|
|Having a credit card is very convenient. But we should plan our expenses very well otherwise we will become bankrupt.|
Once I had been to a electronic goods shop. The remote of television set was not working properly. So I had gone to that shop for repair of that remote or to purchase a new remote.
I had gone there with my wife and two sons. After entering into the shop we have asked the shop keeper about remote. He asked us to wait a few minutes. Then we started seeing various TVs displayed in the shop. I got tempted and started discussing about going for a new TV itself. My elder son supported me. Second son is noncommittal. My wife seriously opposed. But somehow we convinced her and purchased new TV. If I don't have a credit card I might not have done this.
This is how sometimes our expenditure goes out of our control with credit cards.
|Author: Ashok Goyal 04 Jun 2014||Member Level: Diamond Points : 4|
Have you replaced your Credit Card with Chip and PIN technology - Alert for Credit Card Holders in India
Earlier while using credit cards at point of sales one could swipe the card and make the payment. Such cards used the magnetic strip technology and such credit cards could be easily cloned. Now RBI has advised banks in India to replace all such credit cards with chip-based smart cards to their customers as such chip-based cards can not be cloned or misused. Transaction with such chip-based credit cards will get through only after the credit card holder authorises the transaction with PIN (Personal Identification Number) known only to the Card Holder.
|Author: Pravat Kumar Das 10 Sep 2014||Member Level: Gold Points : 7|
|Credit card is a pre-approved loan from your bank.|
It is calculated as per your salary or income source and then bank fixed a certain limit for every month or give a certain limit as loan to you.
And they give you this limit with a card which is known as Credit card.
That card can be used for cash withdrawal ( but you should not use that until unless it is highly essential as there charges are too high almost 3.99% per month).
Online shopping, card swiping at merchant etc.
The benefit of credit card is
1-you do not need to worry if you are short of cash in your pocket.
2-You do not need to carry heavy cash during your travel or shopping.
3- You get some time ( vary from bank to bank and card service provider ) around 45 days to repay your credit taken with out any fees or interest.
1- Some time you loose control and unnecessary spend a lot of money on shopping and travel.
If you delay your payment then heavy penalty charges and interest is being charged by bank.
If card is mis used ( theft) then you need to suffer for some days until unless you get clearance from your bank you have to pay that amount etc.