Mode of payment

You are smart! Because the que for customers who pay by cards is longer, you pay by cash. I do the same. At least for amounts that are not large.

I agree with you. Once you have a credit card, there is a tendency to keep on spending and the roll-over facility makes it sure that you get under debt if you are not carefull. We must keep track of our spendings and how we plan to finance the purchases. Besides, the financial charges on credit cards are pretty high, if you are on roll over.

That is a good way to manage. That means you are taking advantage of the credit days you get. You are paying fully so no financial charges to be paid. Yes, I do internet banking. It is really good that you can do transactions within seconds and see the entries made immediately.

Yes, we have to do a rough estimate. Looks like you take care of commission that you have to pay by a credit card transaction. How much, in %, the commission comes to? I guess it is 2.5%.

You must get the mistake in the credit card removed at the earliest. This is to avoid subsequent problems. Here is my story: I had barely got my first credit card a few months ago. Due to delay in their picking up my payment cheque and processing in time, they charged me a late payment fee. When I questioned this, they did not agree. So, I promptly cut the plastic stuff into four pieces and threw on their faces. Then, the matter went to high level and they apologised and offered to send another card without charging and also reverse the late payment fee that they had charged. But, I did not want to do anything with them so I did not accept their offer. Then I took another credit card from another bank and when I realised that I am not really making use of a credit card, I cancelled it. They settled the account and every thing was paid and we called quits. A few months later a got a statement of accounts for payment of a small amount. I replied saying that the account was settled and closed. The local fellows said that I should ignore it. A few months later I got a similar notice but dues were more. I contacted the local fellows and they said to ignore it.... And it continued month after month. Then no notices for 5 months or so. Then suddenly a notice to pay about $200! Boy, I went to the local office and told the fellow sitting in the managers cabin that either he settles the whole thing now and gives me a clean chit, or I inform the police and file a case on the bank. He assured me that every thing would be settled within a week and requested me to give that much time. I said OK, I give you a chance. The matter was settled within 10 days or so. It is disgusting how these Multi National Banks some times operate and conduct their business in such a shabby way.

That is a good way to protecting yourself from getting into a debt. It is good to have a credit card also to cater to a sudden emergency situation. You are doing right things.

True, a debit card is easily accepted. And you do not have to worry about getting into debt situation for which the credit company would charge quite a lot of financing charges.

That is it! The amount that is to be paid is often a deciding factor when it comes to chosing a mode of payment. In addition, if you have a point system, that acts as an incentive. Is it really attractive? We have a similar system here but it is hadly attractive.

Well, that was the idea behind introducing PayPal. It facilitates e-Bay transactions. It gives a differentfeeling to buy a thing with cash transaction.

Thank you for your response. Transactions by cash and cheques are still quite common, inspite of the fact that the market is flooded with credit cards, debit cards and several other types of cards. I wish you goood luck and hope and pray that you would have sufficient money in days to come.

But they charge quite a lot of money in terms of percentage when you make a payment, don't they? Then, why do you prefer them? I thought a transaction through PayPal is always expensive. If your money transacted is large, you would land up paying a lot of money.