"Credit cards", this word itself drives people away nowadays.. its because of the problems which public faces because of wrong-billing and over-expense issues.. There are a lot of malpractices going on in the banking sector these days, and no doubt new emerging banks are the reason and initiators for it.. There has been a trend change in the banking industry with new private banks coming up in India, and now it has also got Insurance sector also into it .. Consider any bank, first it started as a bank and then got into insurance business also, giving a certain percentage to a foreign insurance company...
There are a lot of things one should remember while going for credit cards:
1. Credit card is not for shopaholic people... You should have control over yourself while shopping... Else, debit card is better for you ..
2. Analyze the pattern of your spending for a couple of months and then compare different cards out there in the market... There are some good offers of cash back & reward points available, which can actually give u profit and comfort both by having a credit card...
3. There is a kind of activity going on a lot these days, which is troubling innocent customer everywhere... These private banks have deformed the way account formalities used to be... I remember when i opened my first Savings Account in Bank of Baroda, how many entries I had to fill and sign .. But these people nowadays just ask u to put signatures, and we also find it comfortable and go on signing, without reading each and everything... Now, here is the glitch, whenever we r filling the form for a credit card, these executives will keep a single page-form of an insurance policy, in between the actual credit card application form .. Most of us don't even notice it, and we just sign that also.. Now, in case you were vigilant enough to point it out, you'd get a cute reply -- "Sir, its a free policy & you don't have to pay anything for it." And this is the point where even a wise fellow signs that paper.. Friends, just with this sign you have taken a lot of troubles on ur head..
The fact comes in light after wards when u see ur credit card bill and it shows a lump amount given for that free-policy... After further inquiry, you might get many replies like --
1. Only paper work was free..
2. Only first month it was free...
3. First 3 months, we don't charge anything sir.. And after that a nominal amount..
4. This is just a one time investment; hereafter you don't have to pay anything.. etc... etc..
I am thankful to one of my friends (who is also associated with insurance industry) for telling me all this in advance sometime.. And the reason for posting this here --- "I saved myself from one such FREE-POLICY scam today while applying for ******************** credit card."
Be very alert while dealing with these people, and try to read all the documents you sign ..
--------> Pandey
There are a lot of things one should remember while going for credit cards:
1. Credit card is not for shopaholic people... You should have control over yourself while shopping... Else, debit card is better for you ..
2. Analyze the pattern of your spending for a couple of months and then compare different cards out there in the market... There are some good offers of cash back & reward points available, which can actually give u profit and comfort both by having a credit card...
3. There is a kind of activity going on a lot these days, which is troubling innocent customer everywhere... These private banks have deformed the way account formalities used to be... I remember when i opened my first Savings Account in Bank of Baroda, how many entries I had to fill and sign .. But these people nowadays just ask u to put signatures, and we also find it comfortable and go on signing, without reading each and everything... Now, here is the glitch, whenever we r filling the form for a credit card, these executives will keep a single page-form of an insurance policy, in between the actual credit card application form .. Most of us don't even notice it, and we just sign that also.. Now, in case you were vigilant enough to point it out, you'd get a cute reply -- "Sir, its a free policy & you don't have to pay anything for it." And this is the point where even a wise fellow signs that paper.. Friends, just with this sign you have taken a lot of troubles on ur head..
The fact comes in light after wards when u see ur credit card bill and it shows a lump amount given for that free-policy... After further inquiry, you might get many replies like --
1. Only paper work was free..
2. Only first month it was free...
3. First 3 months, we don't charge anything sir.. And after that a nominal amount..
4. This is just a one time investment; hereafter you don't have to pay anything.. etc... etc..
I am thankful to one of my friends (who is also associated with insurance industry) for telling me all this in advance sometime.. And the reason for posting this here --- "I saved myself from one such FREE-POLICY scam today while applying for ******************** credit card."
Be very alert while dealing with these people, and try to read all the documents you sign ..
--------> Pandey
0 comments:
Post a Comment
Kindly post your comments here... It clarifies a lot of things ...