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Articles: My Experience | | WHEN YOUR CREDIT CARD IS YOUR ENEMY | |
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| hi all,
But do you all realize about your credit history ? It is equally important to have a good credit history, for various reasons(in US atleast) in day to day life.
Creditors, look for your responsibility, your credibility based on the way you repay your credit card bills. Since using a debit card, does not symbolize or never recorded by credit beaureau, they would have no clue of your spending habits, or how responsible are you with money, before issuing any credit.
Stuff like vehicle, house are too costly to afford, but 'absolutely' needed(atleast 'car' in US) for our day to day survival, which is where credit plays an important role.I agree with the argument, that you should not use it for things you cannot afford & luxury.
The best way, is to use credit card instead of debit card for your regular purchases such as groceries, utlities, so that you can have that purchases recorded, and finally at the end of the month, pay it off all over, using the money you would have otherwise spent on them using your DEBIT card/bank account. That way, you wont go on debt, and at the same time build your credit history, for any future needs & emergencies.
Any comments ?
Suneel K
Posted by: Mr. Suneel Kumar Kanuri At: 10, Dec 2004 0:29:25 AM IST
Hi Ramesh Vemula Gaariki,
I myself a victim of credit card. When u really dont want to maintain a credit card and want to cancel, the easiest way is cut it diagonally in to 3-4 pieces and put it in the respective ATM branch box. Thats it.
Posted by: Mr. B.Santosh Kumar Gupta At: 1, Dec 2004 12:00:00 PM IST
HI, Mr. Gupta this is really a very good article.
The card holders have to be very careful and should not be tempted by the situations.
Credit cards should be used only when there is a real necessity.
I also have a bitter experience long back in Hyderabad and I spent the money for a genuine reason, i was also trapped like this and believe me after some time I payed all the amount and returned the card.( hey, I forgot to redeem the points also )
I then decided not to have a credit card forever.
Now, I do not have a credit card in abroad also.
I have only BEDITCARD.
I will have only DEBITCARD.
Ramesh Vemula
Bristol,
UK
Posted by: Mr. RAMESH VEMULA At: 30, Nov 2004 7:06:18 PM IST
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