Initially i also had few reservations on whether to have credit car or not but now i think its really good to have credit card. I have been using these so called plastic money for the last 3 years and it has really given me the freedom to buy anything instantly. One thing we should keep in mind before applying for a new card that PLZ dont give info of the back of your card to anybody.
If anybody uses it wisely....its nothing like that
i think if u are a salaried person better not to hold any credit card to avoid various problem. If u hold a credit card u tend to use for unwanted things and ultimately land up to pay huge interest and that too if u start making minimum payment you will end up paying only interest and the principle amount never closed. Be careful whether to invite problem or not.
"What banks are supposed to check before issuing a credit card" should have been the title of the article. Both good and bad checks are at the mercy of the person handling the subject. The bank managers are given targets and to implement them they employ contract employees from their existing labour contract. Horrible are these guys. Nearly illiterate, but well dressed. Cannot communicate and will flout any rules to meet targets.
Re: What banks are supposed to check before issuing a credit card
by SAURABH SINGH on May 05, 2010 12:57 PM
this people only work on targets thats it,later if the customer is eligible or not is seen & then screw up his w_hole when evr possible to get there salaries.
photo copy of existing credit card is required for application of a new card. But it is only the front side.The back side photo copy should not be given by any means as it contains the CVV no.When anyone applies for a new credit card , that person is providing all personal details like dob etc.This can be readily misused by the person dealings. The applicant's existing card can by misused by the person with the CVV no. and other personal details
ARTICLE IS ALL BUNKUM. CONSUMERS ARE AT A DISADVANTAGE ALWAYS IN SUCH FACILITIES. BANKS DO NOT HAVE PROPER MECANISM TO REDRESS GENUINE GREVANCES.MOST OFTEN AT THE END OF THE DAY A CARD HOLDER WILL PAYMORE THAN HIS USAGE INSPITE OF BEING PROMPT AND HONEST. I IS ANOTHER TOOL FOR BANKS TO EARN INCOME WITHOUT EFFORT.NPA S ARE CREATED TO SHORE UP BALANCES,TAKE ADVANTAGE OF INCOME TAX EXEMPTIONS ETC
I dont believe a wee bit of this creative article. Till date I have never defaulted in any of my credit card or home loan but when I requested for an International card from HDFC I was politely denied stating no resons. another case is the SBI rail card wherein the IRCTC guy called me and said that you should have one since you are using the IRCTC site extensively for booking tickets. The executive came home took the required documents and a couple of days later I got a regret SMS. Well the fact is that the assessment of the applicants is outsourced to some other agency or nincompoop who is taught to process the application like a parrot.
Re: Difficult to digest
by vinod verma on May 04, 2010 12:21 PM
GAUTAM THESE BANKS GO DIRECTLY TO CIBIL TO CHECK WHAT YOU HAVE PENDING TO PAY TO OTHER BANKS,THEY CHECK THE AMOUNT.IT IS 100% POSSIBILITY THAT ALL BANK PROVIDE INFORMATION OF THEIR LOANS TO CIBIL BUT THEY DO NOT PROVIDE INFORMATION REGARDING THE PAYMENT MADE OR COMPLETETION OF THESE LOANS NO MATTER HOW HONEST YOU ARE TO YOUR BANKS AS A RESULT OF THAT CIBIL ALWAYS SHOWS YOU IN DEBT & NO NEW BANK WILL GIVE YOU LOAN OR GIVE YOU CREDIT LIMIT.PLEASE ALWAYS TAKE NO DUE CERTIFICATE OF NOC FROM BANK AFTER TAKING ANY KING OF LOAN PERSONAL, HOME, LONG CREDIT CARD DUE ETC.
SOME BANKS REFUSE ISSUING NEW CREDIT CARDS EVEN WHEN THEY ARE SOLVENT, HOLDING SUFFICIENT FUND IN THEIR A/C IN THE SAME BANK, GOOD HISTORY OF PAYMENT FOR CREDIT CARDS. wHY IS THE CARD IS NOT ISSUED BY THE BANK (HSBC) AMRIK SINGH
Re: CREDIT CARD TO PERSONS OLDER THAN 70 YEARS OF AGE
by Raja PR on May 05, 2010 05:25 PM
HSBC is very funny bank.. They have reduced the credit card limit and subsequently they have closed the card without informing me.. Ridiculous !!!
what-banks-look-at-before-giving-you-credit-cards!! but wat's the article telling is different!! there r cases whre credit card application is rejected. so the article would have told abt that..
Re: stupid article
by vinod verma on May 04, 2010 12:23 PM
GAUTAM THESE BANKS GO DIRECTLY TO CIBIL TO CHECK WHAT YOU HAVE PENDING TO PAY TO OTHER BANKS,THEY CHECK THE AMOUNT.IT IS 100% POSSIBILITY THAT ALL BANK PROVIDE INFORMATION OF THEIR LOANS TO CIBIL BUT THEY DO NOT PROVIDE INFORMATION REGARDING THE PAYMENT MADE OR COMPLETETION OF THESE LOANS NO MATTER HOW HONEST YOU ARE TO YOUR BANKS AS A RESULT OF THAT CIBIL ALWAYS SHOWS YOU IN DEBT & NO NEW BANK WILL GIVE YOU LOAN OR GIVE YOU CREDIT LIMIT.PLEASE ALWAYS TAKE NO DUE CERTIFICATE OF NOC FROM BANK AFTER TAKING ANY KING OF LOAN PERSONAL, HOME, LONG CREDIT CARD DUE ETC.
Still Debit cards are given the same treatment / benefit which is extended to Credit cards. Where as the fact remains that Debit card transaction is more secure / reliable from banker / business point of view.RBI must look into this.Major banks should review their policies and take initiative to popularise Debit cards more compared to credit cards.
Re: Debit card vrs credit card
by Ravichandran on May 04, 2010 11:09 AM
What the banks earn through debit card is minuscule/pittent when compare with collosus earning through credit card. Hence no insane bank will aggressively promote debit card.
