Used the card cancelled it and happy now. Nothing against it. The idea behind writing here is that we are living in an era where it is considered cool to have lots of credit cards. But we all have kept our wisdom somewhere behind( I feel this way, you can have a different opinion) . How necessary is it to spend money when one does not have it. And mind you, people are talking that they do not feel that they are getting any benefit from a certain credit card. or something similar. Sir, the credit card industry in India or anywhere in the world, is not to give the benefit to the customer but is a business proposition for the company running the show.
They want an individual to spend money NOW, for the things that sometimes or rather most of the times they do not need and get into the credit trap! And once you are a part of this vicious circle you only end up paying 2-3% interest every month or rather 24- 36% interest every year+ some other charges and fees and service tax .
Though responsible usage is advocated and we might save on the interest if used responsibly, BUT then how many f these younger lot of people in this era are responsible to manage all this and if you are responsible also.
HOW much can you avoid seeing these glittery light, discount sales, extra points on cards and things like this when you visit a mall just to hang around and end us spending a fortune!( only coz you are not paying cash and just swiping a card)
*The emotion of paying money and buying things prompts us into not spending, but when one buys using a card - you do not see the money going out of your hands. And u overspend. YES target achieved - NOT by you but the credit card issuing company!
So all i got to say is: Make hay when the sun shines. Our economy is booming, make money, save it use it wisely, build assets and not liabilities. Avoid unwanted expenses and use a CREDIT CARD only when you really need to buy something important or when you need to pay for some other service.
DO NOT EXPECT THEM TO BE RUNNING A BUSINESS ONLY TO GIVE YOU SERVICE. THEY ARE HERE TO MAKE MONEY!
So have a card it is necessary and important but use it wisely.