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Created by : santosh varghese, Accounts Executive/Accountant, decovision  | 10 28 2010 10:14:18 +0000
Activity:  237 views;  last activity : 12 08 2010 06:20:16 +0000
 
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Given its current form, the Credit card was developed for Mans Doom. It encourages overspending.to the limit the bank forfeits all you have.
By santosh varghese, Accounts Executive/Accountant, decovision  10 28 2010 10:14:18 +0000
 
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Yes Neelima,awareness is the key. Thanks to RBI Guidelines, that help both the Banks & customers. Banks has been asked to issue the card to the eligible customers only.  Banks has also raised their eligibility bar accordingly.  Only high interest rate is the question, pressure is on them to reduce the interest rate, however banks are arguing about free credit period for 50 Days.

If you use judiciously you can enjoy the credit period. Those people who could not control their impulsive buying & spendthrifts should not go for credit card they can use Debit card to avid stress, because you spend before earning.

No question of banning such a good  facility.  A recent study has shown that cc usage has dropped down substantially in India. Let the market decide.  Banks must also follow proper discipline while assessing the applicant at the entry level itself for issuing the Credit Card & practice law of the land while recovering the default payments.  


By nagesh rao, Freelancer, Freelancer  10 30 2010 03:38:10 +0000
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It depends upon how you make use of it.
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 12 08 2010 06:20:16 +0000
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So Santhosh....you dont take a credit card....but why you want to take away a nice blessings from others who have know how to handle cash or manage their income in a proper way by banning credit cards....

Silly debate I think....i doubt the next debate would be " SHOULD WE BAN LOANS FROM THE BANKS" as some times loans also became a liability to some people....


By Manoj Kumar, Sr: Manager - QA, ARCHETYPE GROUP, INDIA  | 10 29 2010 10:53:16 +0000
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No we need credit cards, but should create more awareness about it among the people. So that it is used in the most effective way....  


By Neelima Pandey, PR & Media Relations Manager, Group M  | 10 29 2010 10:42:24 +0000
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