Jul 03, 2009 09:07 AM
5866 Views
(Updated Jul 03, 2009 09:12 AM)
Well its been a problem holding and using credit cards hence I opted to close my American Express card for couple of reasons, big annual subscription when other widely accepted cards offer free life time card and next reason for their higher interest or financial charges. So I paid the balance due only to receive a statement only with financial charges.
I just took a chance of calling them to clarify which 90% of us dont do; I came to know that I dont have to pay anything and I will get a reversal or nil balance statement next month. Had I delayed my payment, they would have called me 100times with late payment charges etc but when it comes to our Indian citizens money they want us to call if not pay then run around to get the money back.I wonder if they can do this in the US where fairness will be rewarded hence we would have had our say.
For many of us, holding various credit cards is a big glamour until you own and spend and try to pay it back.In US and Europe, people use cards and pay the full amount once they get their salary that way they dont lose money but in India we are so much into the installment mindset that even if we have money we think only of paying part amount.
