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Group: Members

Posts: 19

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Joined: 27-June 06

From: India

Member No.: 2,686



Joined: 27-June 06From: IndiaMember No.: 2,686





QUOTE(FirstView @ Nov 27 2008, 05:58 PM)

Credit cards not only let you buy things on credit -- you have 52 days of free credit if you use them smartly -- but also allow you to pay a bare minimum -- 5 percent -- of your outstanding due. This is what lures most credit card users into a debt trap which many find difficult to get out of.

In difficult times when you are short of means to pay for your credit card bills, paying minimum gives you a breather. However, it may not save you from finding a concrete solution for paying your credit card debt. Soon you may find yourself reeling under a debt trap. Assuming that paying minimum of your outstanding amount is a good option is like digging your own grave.







Well said !!! True indeed !!! I was one among the worst sufferer's and got relieved only recently.

A true story is about holding three cards ( i was lured for another one , infact ) by these gullible credit card companies... I found it difficult in repaying all the three at a point of time ...was indeed i was trapped in a hell of cobweb and they were still extending loan on my cards ....i got into all of those without realizing that i would be able to handle this judiciously...but I realized that they started sending debit advice for with drawl of money ( cash with drawl charge ) outstanding balance charges ( interest ) and spot interest and if you want to close in the middle after borrowls in the form of emi's then I was charged for pre closure charges coupled with over credit charges plus spot interest for the unpaid sum outstanding on my account and the regular interest charges ....this is how they squueze the blood and they trive on these ....thank GOD, i realized all these difficulties and ejaculted out of the terrible mess y repaying all at a time with all the charges which i have never thought of all these implications upfront....so my advice to all others is never ever have a credit card ...its the greatest sin on this planet earth...its style that tempts one to hold but that is the greatest death trap for every one ....

ksri Well said !!! True indeed !!! I was one among the worst sufferer's and got relieved only recently.A true story is about holding three cards ( i was lured for another one , infact ) by these gullible credit card companies... I found it difficult in repaying all the three at a point of time ...was indeed i was trapped in a hell of cobweb and they were still extending loan on my cards ....i got into all of those without realizing that i would be able to handle this judiciously...but I realized that they started sending debit advice for with drawl of money ( cash with drawl charge ) outstanding balance charges ( interest ) and spot interest and if you want to close in the middle after borrowls in the form of emi's then I was charged for pre closure charges coupled with over credit charges plus spot interest for the unpaid sum outstanding on my account and the regular interest charges ....this is how they squueze the blood and they trive on these ....thank GOD, i realized all these difficulties and ejaculted out of the terrible mess y repaying all at a time with all the charges which i have never thought of all these implications upfront....so my advice to all others is never ever have a credit card ...its the greatest sin on this planet earth...its style that tempts one to hold but that is the greatest death trap for every one ....ksri



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