India Broadband Forum

xwhyz

I have around 6 bank's credit cards with me and i use most of them at most of the time and i am planning to dump off most of the cards as it is becoming increasingly annoying to maintain that much cards. WHat do you say, is having that much credit cards advisable.?

just4kix

I had five and now I keep just 2. Plus I have an Amex Corp CC. That should tell tell the story.

gardencityboy

I have many cards but i use just one
Never been able to reach the max limit of the card

it is easier for me to use just one card because easy to manage

Logik

Well, Plz Note the word CREDIT........I think Credit card is the thing to use in emergency only. or in extremely long travell. i think its pretty meaningless to buy things in ur own city or locality wid credit card, & what u get is thing (which u bot) & loose some extra money as intrest. . (Entry Load & AMC are additional) What kind of wiseness is that, to pay extra oney than the MRP??
PS : In my whole family no one owns single credit card. Cash always rocks.

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gardencityboy

Logik
what about online booking?
if my family wants to book a air ticket or a ticket to PVR
i have to have a credit card to do that

or go by train and stand the queue

I think that at least one credit card is a must

Also why cant we use the card in the same city
if i go for shopping do u think that i will carry Rs 5000 with me
it is better with card no risk of getting robbed as well

cash does not rock always

just4kix

True. Carry one CC at least but definitely too many. Also take these two following precautions:

a) always burn the old (more than 6 moths old) statements, charge slip copies, etc. that contain identity information
b) On the back side of the CC, there is a a three digit code that is used for internet and online trasactions. Hide this code by sticking a small paper+tape.

I have heard of a story when a waiter in the hotel had used someone's CC because he already knew the person name and CC number (it is present on the charge slip) and noted down the three digit code when he was handling the CC.

In India not many sites are cross verifying the CC number with the person name, billing address, three digit code on the back side, etc. and hence the identity is stolen.

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Logik

@ gardencityboy
Dude, if u can read my post, i made it clear that use of credit in emergency is pretty essential. And for online booking u have internet banking accounts. I did such booking many times b4 this.

secondly, u r talking abt the risk of carrying cash. i have no idea how u are aware of ur credit card security while its use. Carrying a card is more dengerous than carrying CASH. Think u haven't heard of the scandals going about the CC. recent example is UK. ppl lost 530 million $ (i think thats the figure or i can say huge money). the most intresting point is, UK CC were used across the asian Continent. leave it.

if u wanna see real Demo, just PM me ur CC no & Card provider name & i will show u the magic, w/o touching ur card. (take it lightly )

point is simple, in my view CC is a need in urgency & not the regular life style.

That was my point.

xwhyz

I too agree that at least one or two card is a must, as it will come in handy very much as i had such instances many times in the past, where during emergency situations, it came as a boon. One thing is for sure, no matter how many cards you have if only if you know to use it well you can escape, else you will end up in trouble!