For me a credit card is a tool to be used, whenever the need arises. I normally use it while I am travelling. SO I dont have 2 carry cash with me. Well, this criteria is solved with any credit card we use. Well for all its great services etc., ICICI card has a major flaw. If you default on a couple of payments, for reasons of your own, The card gets locked. Lets say you have a credit of 50000 ( on a gold card), and u’ve spent 25000. Lets say you defaulted. The card locks, and will be unlocked only when you repay the entire amount. This even if the remaining amount is there to your account.
The other card companies lock your card, if and only if you’ve spent over their limits. (if u spend over 50000).
And once locked u r in deep shit. Cause it is just a plastic card, thats useless anytime.
Whats the use then of issuing credit cards?
Then there was a friend of mine, who had gone shopping and was told on presenting the card that the acknowledgement wasnt coming thro. On contacting the bank, he was told that as part of some random check test, his card was locked, and unfortunately he couldnt transact. Imagine what that can do to your reputation? Still, This is my view and each is entitled to his own. What I want to tell you is that weight all the odds and evens before you go for any card.