crsdit crad problems

Problems of having credit cards


Lot of people are suffering because of credit card frauds. In countries like US the APRs are very low so people can afford it. In case of countries like india the intrest rates are too much it is approx:36% per year.That sucks. i dont know why government is not botherd in speaking with credit card issuing companies to reduce the intrest rates.

I think the noraml people are suffering very badly because of it.Till we take the credit cards, we will be getting hell lots of phone calls from credit card companies saying that we will offer card for free..etc..etcc..

In US atleast there is a way that you can avoid getting phone calls from these credit card companies by adding your phone number to:

www.donotcall.gov

But in india there is nothing of that sort. I dont know when the government will take care of these things.God only save us.

My advice is better not to have any credit card. Since there is nothing like Social Security System in india, lot of people will take money from credit cards, more the number of defaulters.they should start building some means to make that happen.