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Credit Card Traps

November 12, 2009 Leave a comment Go to comments
cardThe credit card is one of the very good facilities offered by banks. But some times this facility becomes a hassle for you and you feel like trapped. I’ve been through same kind of experience last month.
I got last month’s credit card statement. I was shocked to see that the bank added Rs.2000 for annual card fee, Rs.1000 for add-on card annual fee and some Rs.400 for the service tax against these annual charges. That made mycredit card due shoot-up to almost double.
I called to the bank customer care to resolve the issue. The executive told me the same story written in the statement. I claimed that this was not mentioned at the time of applying for the card. The executive then assured me that they are waving off those extra charges. She then said, “Sir we have a very good offer for the heath insurance policy. Just listen this offer”. I thought that there is no harm at least in listening the offer. She forwared the call to other (insurance) company executive, they tied up with. Then he started explaining the company health insurance offer. The guy was so smart and I don’t know when he snared me. He was about the activate the health policy and was going to deduct the policy premium from my credit card.
I scent that I am in trap, I suddenly stopped him. I totally refused to activate any policy linked to my credit card.
Then I came to know, why the bank added that extra amount. If one gets those extra charges and doesn’t call them, then he will have to pay that amount. If he calls regarding this, the bank will try to snare him in some offers. In both the cases the bank takes the benifit.
I would suggest everyone to be very careful with the use of credit cards. If you are smart enough, you will enjoy it’s benefits. In other case the facility will become hassle for you.
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