Is Credit Cards Useful? Are the Bank making Huge Profit?
By think4u
@think4u (16)
India
January 22, 2007 11:50pm CST
Nowadays lots and lots of bank provide free lifetime credit cards, i wonder how it is possible? Are they cheating normal people by giving ads as "Free Lifetime Credit card, Money Back .... No Surcharge in Petrol Bunks etc.," And there are many hidden charges which they put on the bill statement finally, so justify the reason for using credit card and vice versa.
1 person likes this
2 responses
@emquinsat (1058)
• Philippines
23 Jan 07
Im in the finance industry and credit card companies do make a lot. For a person credit cards are helpful since you can use it on emergency cases. However, if you're the type of person who splurge on the things that you don't really need and you use credit cards for it, it can really be bad for you if you don't pay on time.
@zack_3004 (1207)
• Malaysia
23 Jan 07
i think credit card is useful. but more people use credit card in wrong use. they use for shopping without limit. they enjoy the shopping. at the end of the month, they will headache because of high debt.
