Comments on: What’s Your Credit Card Usage Policy?

By: Volety Shekhar

Volety Shekhar — Sat, 08 Nov 2008 09:33:27 +0000

Credit card pure stupidity

By: Manish

Manish — Wed, 06 Aug 2008 22:58:30 +0000

HI,

Request you to please explain me the complete procedure of Credit Card Final Settlement if someone wants to make and what could be the impact and consequences.
1)Whether his/her name would be in the defaulters list in Satyam?
2)If Yes ! Then till howmany months will the name be there?
3)When can that person after getting his Final Settlement done can apply for any loans or overdrafts from a bank. Or he/she can ever avail any of these in future?

Please revert/respond back ASAP. Ormail across to me ASAP. Thanks…

Regards,

Manish

By: Ram

Ram — Mon, 28 Jul 2008 16:59:59 +0000

Hi Vinaya,
Well, I do agree about the Discipline and the policy, but Today the so called plastic money really matters. Especially in situations where in your cash balance is low ?? , emergencies ?? and may be sometimes when you have forgotten to draw your cash, but have refueled your CAR / BIKE.

I do agree that you need reminders about your DUE DATES and these CARD Co’s are very smart at charging the INT and the DELAYED payment fees.
However, it still is very handy in needy situations. Carry one always.

BUT .. What you really need to be careful is about
1. Not loosing it, if lost PLEASE PLEASE PLEASE inform the ISSUER about the loss and block the card … else …. Its a lottery ticket for the finder . How to inform the ISSUER … store the nos in your cell phone. ..
2. Make sure that everytime you swipe your card, the person who is swiping is not noting down your detials … coz then he can go on a ONLINE shopping spree ..
3. And LAST, make sure that you keep checking your statements regularly, take immediate action if you see a misuse,… dont pay until ,,.. actually never pay,

I have more to write,.. but am i guess its too late,..

Will catch up with you soon,…
You have developed a wonderful site,..

Thank you
Ram

By: Vatsa

Vatsa — Sat, 19 Jul 2008 20:48:28 +0000

Hey Vinaya..

Nice one here…Infact in UK the trend support your observation..The last 4 year statistic suggest that Debit Card usage has grown by almost 15% , credit card numbers are almost constant…Infact this has started worrying the card issuers, as they are busy devising new schemes to attract customers for debit card business.

Vatsa

By: Notary

Notary — Sun, 22 Jun 2008 06:29:14 +0000

I don’t have a credit card. So discipline is out of question. hahah!

By: Vinaya HS

Vinaya HS — Tue, 17 Jun 2008 03:28:58 +0000

Pavan, you got it spot on in saying that “with a bit of discipline, a credit card can be used efficiently.” But that discipline is the whole problem to begin with. With so many things to worry about and distract us, it’s quite easy to miss a payment deadline every now and then.

What do you think?

By: Pavan

Pavan — Mon, 16 Jun 2008 20:29:24 +0000

I belive with bit of decipline, we can make an efficient use of a credit card. I always carry my card with me and I try to use it where ever possible. I don’t think there will be a situation where I would say ‘I want to buy this, but as I don’t carry that much money now, so I will not buy it…’. If I need it,I buy it so there is no point in hiding the credit card in my home back. Now the advantage of using credit card- I get a list of all purchases I made…which helps me in keeping my expense account proper in GNUCash. You get reward points which will keep accumulating and yield some decent gifts some day. In Canada, I would rather use Debit card, as it is accepted in almost every shop, but credit card also helps a lot in online purcahses.
Some times I see my credit card bill and feel, I spent too much, but never the less, if not credit card, I would have spent that much with the cash drawn from ATM or debit card, which makes no difference.
-Pavan

By: Sofia Kim

Sofia Kim — Mon, 16 Jun 2008 15:02:57 +0000

Credit card debt is on its all time high with today’s economy. Hopefully people can obtain the help they need to get out of debt. Thanks for the article!