Here's what Sarath M has to say about his bad experience while using his credit cards
I had a very bad experience with credit cards. Even though I paid in time before due date in the next month's statement it shows that late payment.
When I went and met with customer service they say we have to receive payment at least 5 days before the due date. When I showed the date there was no reply.
I asked for redeem the points. For that also they kept quite. I don't know why they cheat the people in this fashion. Then I realised one can clear the debts if you take from Lord Balaji but not with these hi-fi banks.
I surrendered the card and they have given the written note that the card is cancelled. But still I receive statements that I owe Rs 300 to them. When I approached the bank there is no proper reply from them. In fact they comment on me that he is struggling to pay Rs 300.
Credit cards: 'A boon for the middle income group'
Here's why G Sanjeevi thinks that credit cards are a boon to people with good income.
I would like to share my views on Credit Card as below:
There are many instances where certain urgent expenditure could not be funded due to paucity of cash at that moment, but credit cards come in handy to meet such expenses and pay off later when we get cash.
Particularly for middle income group, they can meet their festival shopping expenditure during middle / end of the month without worrying for availability of cash. Hence, it is a boon for middle income group people who plan properly. But, it will be a headache for poorly planned people.
Disclaimer: This is a reader-driven feature. The views expressed by the readers are their own, and not that of Rediff.com. Rediff.com has not altered the material presented here and does not endorse it in any way.
Reader invite:
Dear reader do you have an opinion on the debit card vs credit card subject? What do you think is more convenient to use and what are the pros and cons of using each of them?
Share your experiences of using credit cards and/ or debit cards with getahead@rediff.co.in, and we will feature the best entries right here.
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