What's in a Credit Card ?
Some people have been always enamored of owning credit cards of Foreign Banks such as AMEX. Fortunately I have never felt the need of having one in my wallet and consequently never owned one. This feeling of non-ownership is result of the exorbitant and hidden charges (read interest rates) some of these credit cards have. It is not very strange to hear people cribbing about high charges. But what happened last week to one of my relatives was indeed shocking.
A sales executive from a MNC bank approached a month back and had offered a “FREE” card. Though firmly reluctant to gain that card the executive convinced finally to apply for the card and made fill all the application forms.
3 Weeks Later.
An envelope comes from the bank stating charges of around Rs.600. So I assumed that this was another story of some hidden charges or perhaps the charges were result of the usage of the card. Till now the story was no different from many others who have been aggrieved by many banks. I had a small chat with my relative and came to know that they had not even sent the Credit Card until now and much before that comes a statement claiming charges of Rs.600 under I repeat a “FREE” card.
Within the next couple of days the bank was informed about the whole situation which had occurred and in their response all one got to hear was an apology and yes waiver of the current charges. But still they reiterated the fact that it was a free card. So are they billing us for someone else’s account? No satisfactory replies. But just like before they stated that they were sorry for messing up the whole situation. Now that completely pissed off my relative and gave his piece of mind left, right and center.
2 days later a guy came to deliver the credit card and very smartly he was shown the door. This incident only reaffirmed my belief that owning a credit card may not be that good an idea though I definitely agree that it is more than useful at times. Also it is very much possible some of us may have some very positive experiences to share.
A sales executive from a MNC bank approached a month back and had offered a “FREE” card. Though firmly reluctant to gain that card the executive convinced finally to apply for the card and made fill all the application forms.
3 Weeks Later.
An envelope comes from the bank stating charges of around Rs.600. So I assumed that this was another story of some hidden charges or perhaps the charges were result of the usage of the card. Till now the story was no different from many others who have been aggrieved by many banks. I had a small chat with my relative and came to know that they had not even sent the Credit Card until now and much before that comes a statement claiming charges of Rs.600 under I repeat a “FREE” card.
Within the next couple of days the bank was informed about the whole situation which had occurred and in their response all one got to hear was an apology and yes waiver of the current charges. But still they reiterated the fact that it was a free card. So are they billing us for someone else’s account? No satisfactory replies. But just like before they stated that they were sorry for messing up the whole situation. Now that completely pissed off my relative and gave his piece of mind left, right and center.
2 days later a guy came to deliver the credit card and very smartly he was shown the door. This incident only reaffirmed my belief that owning a credit card may not be that good an idea though I definitely agree that it is more than useful at times. Also it is very much possible some of us may have some very positive experiences to share.
But as far as I am concerned I still say “Thanks. nahin chahiye“ whenever a sales executive comes to offer any credit card.
posted by Krishnakumar Chirakkal @ 9:11 pm
2 comments
2 Comments:
This reminds me of a similar harrowing experience that my brother is going through. He surrendered one of his so-called 'free' credit card a couple of years back, and to date he receives calls from the bank to pay up for non-existent transactions. Beat that!!!
Well, I have resolved never to own a credit card, no matter how 'convenient' they might be.
Oh My God !
Well I guess some resolutions can still be followed
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