analysis on credit card economics...worth a read

analysis on credit card economics...worth a read

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6 Dimers
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Deal Cadet
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good one bro. Thanks for sharing smile

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Deal Cadet
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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)”

Samantha
Deal Lieutenant
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guest_999 wrote:

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… ..

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Deal Cadet
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Incredible numbers 😊

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Deal Cadet
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aswaniexpress wrote:

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… ..

How much do you think bank spends on maintaining a savings acc in a bank or do you think it is somehow free for banks to just open accounts & maintain them? This myth is just like people thinking cash transaction is free,where do you think the money comes from for maintaining all the ATMs(lightings,ac,property cost) & their guard’s salary,the cash transfer van & the salaries of their crew or the transfer of cash to/from a bank branch’s chest to bigger branch.

Also do tell me how do you “transact on a debit card with insufficient balance” or tell me which bank has imposed limits on number of debit card/internet banking transactions rolleyes

Samantha
Deal Lieutenant
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5143
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guest_999 wrote:

How much do you think bank spends on maintaining a savings acc in a bank or do you think it is somehow free for banks to just open accounts & maintain them? This myth is just like people thinking cash transaction is free,where do you think the money comes from for maintaining all the ATMs(lightings,ac,property cost) & their guard’s salary,the cash transfer van & the salaries of their crew or the transfer of cash to/from a bank branch’s chest to bigger branch.

Also do tell me how do you “transact on a debit card with insufficient balance” or tell me which bank has imposed limits on number of debit card/internet banking transactions rolleyes

have you ever heard EXCESS DR charge by SBI?

https://twitter.com/morningstar_sid/status/1101...

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aswaniexpress wrote:

have you ever heard EXCESS DR charge by SBI?

https://twitter.com/morningstar_sid/status/1101...

Is this some kind of joke rolleyes Have you ever heard of a bank that does not levy a fine for attempting to withdraw more money than you have in your acc balance or purchase something which cost more than your entire bank balance? And what a joke tweet have you referred to,guy maintains an avg of around Rs.100 in his acc & then try to withdraw more than his balance & gets a penalty clearly mentioned in statement as “insuf bal atm decline charge” & yet cries on social media.He probably doesn’t even understand English that well judging by his grammar & English comprehension skills & yet chose to post on social media first instead of talking to customer care in his native language to understand the reason.

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