analysis on credit card economics...worth a read
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More like “credit card is the way of transferring money from gullible people(impulsive buyers,think seriously would any poor person be tempted by all these online sales) to the smart(like dimers here managing dozen cards to get max rewards in every type of spending,if gullible people stopped misusing their credit cards then companies too will stop giving rewards as it will be a loss for them then)”
poor people does not really mean people tempted by online sales… poor people here means.. people who hold savings accounts in banks like SBI , ICICI…
SBI even charge people for not maintaining balance…and charge if you transact on your debit card with insufficient balance…charge if you transact more number of times on Debit card / Internet banking
does not care to give money if ATM does not dispense money but debits from account..
ICICI – charge for loading cash in branches… ..
Incredible numbers 😊
good one bro. Thanks for sharing