2006-12-21 05:41:36 · 8 answers · asked by kirit b 1 in Business & Finance ➔ Credit
I have so far never seen any handsome offers made by the banks through credit cards. As far as I have seen, there was a 5% cash back offer introduced by ICICI bank. This offer will only sound great if the money transacted is high. Apart from this, you get the usual no service charge, but currently with the number of credit card users increasing rapidly, most of the counters do not include service charge and giving it as an offer is no more I guess.
2006-12-21 06:05:44 · answer #1 · answered by Jack Loves Money 3 · 0⤊ 0⤋
Hi Credit cards are useful for the persons who have a regular income and want to spend some money against the income coming next week or so, It is not meant for persons with an unsure income, The credit card in other way is a overdraft against your expected income, If u don't pay in time the credit card interest rates are too high i.e. up to 36% p.a..
So, If u have regular soUrce of income and u can repay your expenses done through ur card soon, U must go for a card because it is safe and good enough, But please keep Ur card in a safe place and memorise Ur pin, avoid using Ur credit card in ATM.
THANKS
2006-12-23 17:42:34 · answer #2 · answered by AVANISH JI 5 · 0⤊ 0⤋
Credit Cards of the banks are useful ONLY if you can pay off the outstanding before the statement date. Total of charges declared and hidden charges works out to over 48% per annum. Cash & Carry is the best policy.
2006-12-21 06:05:05 · answer #3 · answered by Venkata V 1 · 0⤊ 0⤋
Credit cards are good for people with a regular Income who may have to buy things suddenly upto certain high value but want to pay later. It is better if you pay your credit card dues regularly .
Late payment attracts Interest rates upto 8-10% per month .
Also if you do not have a need for High expenses , you can afford not to have them . But these cards are useful . There was an instance with me :
I was with my parents shopping for my Brother's marriage . And they ran short of cash . It was then that a Credit card helped us pay for the expenses .
2006-12-25 01:14:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Venkata is right . They are best as long as you make 100% payment against the outstanding within the due date.
2006-12-21 06:35:37 · answer #5 · answered by cvrk3 4 · 0⤊ 0⤋
yes, they are very gainful provided you don't spend your money lavishly and pay the amount to the bank before due date.
2006-12-21 08:12:23 · answer #6 · answered by Jr 2 · 0⤊ 0⤋
yes, easy to carry any where banking
save lot of paper currency
vvr
2006-12-21 14:43:29 · answer #7 · answered by vvr 1 · 0⤊ 0⤋
no
2006-12-21 07:06:32 · answer #8 · answered by mohit 1 · 0⤊ 0⤋