| Credit cards are here for long times. Lots of people | | | | and not from the date, you have purchased the item. |
| use them. However, still a doubt for credit cards exists | | | | Therefore you got only 23 days. But if you purchase |
| in our minds. We see many people come up everyday | | | | goods on 26th, then your bill will be generated on 25th |
| with the credit cards frauds and losing their money. | | | | of next month and you are allowed 20 more days to |
| Here, whom should be blamed, the credit cards or the | | | | pay the bill. Thus you got complete 50 days. Many |
| user. If we see deep inside this matter, then both are | | | | people are not familiar with these formalities. |
| responsible for it | | | | Moreover bank says you to take your balance to next |
| Credit cards, as promoted are the alternative for hard | | | | month by paying some minimum amount. This is known |
| cash. We don't require carrying cash. We can pay our | | | | as revolving balance. It looks very attractive, but it has |
| bills or use them for cash on emergency. Main | | | | its drawbacks. First you don't get interest free on |
| advantage with credit cards is that unlike debit cards, | | | | purchases if you are in revolving balance. So people |
| they are not directly attached to our bank account. | | | | got in this trap and land up in huge balances. |
| We require paying the money either completely or in | | | | Recently Supreme Court of India has warned the |
| partial installment after some time. | | | | banks to give the clear details and send the bills on |
| If we pay back all the money used in some particular | | | | time. It has told to the banks that if information's are |
| period, we are not charged any interest. Moreover | | | | misleading or bill reached late, then the customers will |
| banks provide lot of schemes like reward points and | | | | not be responsible for it. |
| money back offer. All these things look very attractive. | | | | Moreover credit card frauds are very much common |
| But the reality is not as good as it appear to be. Many | | | | these days. Recently a Indian BPO employ was found |
| people fall in this misinformation's and found | | | | selling the detail of British card holders. Card is like cash, |
| themselves in difficulties. | | | | anyone who has the number and security code can |
| Is this a fraud? If not then by these difficulties come. | | | | miss use it, even if he may not possess the card. So |
| The main reason behind it is that rule and regulation | | | | we require using it safely. and not allowing any body to |
| related to cards are difficult and sometimes misleading. | | | | know it. Many replica sites have come up, to just steal |
| For example bank says that the bills paid in 50 days | | | | our card information. But card like visa has introduced |
| will be interest free. Bank counts its 50 days from its | | | | net card with limited liability for it. |
| billing date and not from the date you have purchased | | | | Nutshell credit card has its benefits and disadvantages. |
| the item. | | | | But with certain awareness we can use them |
| For say you have purchased item on 22nd of the | | | | properly. And by following the instructions we can |
| month and your billing date is 25th of month. Then bank | | | | avoid frauds. |
| gives you 20 days from billing date to pay the balance | | | | |