The Thought transference
"Any fool can criticize, condemn and complain and most fools do." - Benjamin Franklin

Wednesday, July 20, 2005

Careless in your Credit card usage? please read this

When I read the article about credit card on The Hindu today I was shocked. It explains how the credit card consumers suffers when they not following their transactions regularly. As I was using couple of credit cards, the first thing I did is checked my last month statement. It's confusing, lot of credits and debits columns in it. After spend few time in it I convenienced myself that my last month statement has nothing suspicious.

In that article, the author explained that how the few people had a problem with credit cards. Also he gave some useful tips and what are the consequences we face.

So if you are credit card holder please read that article and follow the same. Also share this useful information to others.

"Ignorance is expensive" is the thought of the day, think how it matches in this issue.

Thought by Deena at 19:09

2 Comments:

  • Hi Deena, I have lots of experiences like this.

    I notice that, after a few blasts from the customers, they rectify the mistakes.

    I want to share one such case which happened very recently.

    I received the statement where I saw that my total dues are Rs. 3,000. After ensuring that it is a correct charge of my transactions, I deposited a cheque for 3,000 before the due date.

    When they were processing the cheque, they mutilated the cheque inadvertantly and never informed me.

    In the next month's statement, i was shocked to see that there was a cheque bounce charge (Rs. 300 + service tax) and late payment fee (Rs. 400 + service tax), totalling to Rs. 771. (They say that they have not received the payment but I was charged Late Payment charge :-))

    When asked for clarification, I was informed that it is a policy of the bank to charge the customers for the non-payment.

    Then I explained their mistake in a "decent" way and without any further conversations, the entire amount was reversed off.

    Hence, it is important to check the statement very carefully and bring to the notice of the bank for rectification immediately.

    Regards
    'Arnold' Bala

    By Blogger 'Arnold' Bala, at 7:50 PM  

  • Hi Bala,

    Thanks for sharing your experiance with us, hereafter I am going to follow my every transaction carefully.

    Deena

    By Blogger Deena, at 3:30 PM  

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