Apr 28, 2002 04:06 PM
1619 Views
(Updated Apr 28, 2002 04:07 PM)
Credit cards are supposed to provide peace of mind in case of emerge
ncy. However everyone who is reading this knows what are credit cards
and its advantages and disadvantage. I wish not to talk about them. Infact I would write my own experience for you all to judge that are Credi
t cards Financial HELP or HURTS.
During one of my overseas trip, a had taken car on rent. The renta
l agency, one of the reputed international name, asked for my identity
so I showed my passport, then they asked for financial guarantee to
which I agreed to pay them upfront for the days I was expecting to
use the vehicle. This was denied stating they do not know how much
I was going to be billed. then I had my Credit card which was accep
ted but as it was Indian card I told them to keep as an security a
nd would settle the full bill in cash. I told them I would be using
the vehicle for about 15 days.
However at the end when I returned back the vehicle on 17 day, I
was surprised to know that already my rupee credit card has been debited with 15 days rent. I was just dumb. Af
ter much of arguments they agreed to charge only difference and I settled the bill. The story does not end here, when I received my statement from my b
ank I noted later the rental agency has also debited my card for fue
l charges and other delayed penalty. I objected this with my banker.
The banker promised to look into the matter and I has instructed no
t to settle this amount, to my surprise the banker stats that he is
not in a position to object as the charge has come from internationa
l agency through international bank. My banker said he can only help me by taking the issue with the correspondent bank. After 6 months of fighting with my banker, the matter was closed stating this charges are payable and I have no
recourse. I was dupped by both the agency and my banker.
Next thing I did was to return back my credit card.
Please friends look before you take any credit cards and discuss all
possibilities with your bankers.
Good save all credit card holders.