I have a nightmarish experience when it comes to credit cards. I owned a credit card from SBI. The guy pestered me to take one and I finally relented.

Then I found it doesn't have a tie up for payment facility with SBI. Nor any staff from SBI was willing to collect the cheques. I had to go around city to deposit my cheques as cash payment was not an option.

Then to my horror even though I dropped a cheque at least three days prior to the last date mentioned on the bill, I was charged with a late fee. Explanation given after a couple of months made me believe that they will revert the charges and asked me to first make the payment.

This went on for five months. Neither did they revert the charges but kept on piling up the charges. I got frustrated and called their company many a time with standard responses. So finally stopped payment for the last bill and sent a mail to their customer care.

Neither did I receive any call nor any response for some time. Then suddenly out of the blue I started getting calls from Chennai. God help me I was irritated. Every hour four to five calls. I told them repeatedly to resolve my issue I would pay up whatever I need to. What do I get?

Crank calls threatening me. Then abusive calls where the agents used gutter language. When I threatened to sue them some manager called up and again asked me to mail, which I did they called and said they are willing to sit down and thrash out details but no one came.

Now they are threatening to put me on credit information bureau list. I shrugged my shoulders and thought to hell with credit cards. I would never want one again in my life. These people are not honest. They won't inform everything properly.

                                                                                                                                                           -- Kiran Myneni

Credit cards:  I realised I was a big fool

Credit Cards are very useful financial tools. I learned how to use credit cards the hard way. I ran up a bill and made the minimum payments every month till I realised that I was a big fool. I paid off that card and got rid of it.

After that experience I learned how to use this very useful financial tool. Today I have 5 different credit cards, 4 VISA and 1 Master Card. I never make the mistake of spending more than I can pay in any month.  The billing schedule for my cards is all different and I make use of this to the fullest.

By spreading my spending over the cards I make sure that my bill payments are spread out and the free credit periods are always maximised.

For example, today (Sept 20, 2007) I bought air tickets for my mother using my ICICI Gold Card (billing date is the 16th of the month) rather than my ICICI Platinum card whose billing date is the 10th of the month. I never carry over my credit card dues, never use it to withdraw cash, or opt for EMI & Balance Transfer schemes.

I see no reason why I should pay somebody interest for credit card transactions. If I cannot afford to pay the full amount I don't buy. Loans are only for such things as buying a home or a car.

Loans for high-end consumer items like Plasma TVs are simply cutting my own financial throat. I am willing to wait till I can afford to pay in cash. When I reach that stage I simply use my credit card to pay for the item and then pay the bank when the credit card bill arrives.

For petrol I use credit cards in conjunction with a Bharat Petroleum PetroCard. My typical spend on petrol in a single transaction is about Rs 2000/- (for my car). I use the credit card to charge the PetroCard and then transact on the PetroCard on which I earn points. Nice. This works for my bike too even though my spending is typically less than the Rs 300/- limit set by the card issuer for no charge fuel transactions. I just charge Rs 500/- to the credit card and use it to charge my PetroCard which I then use to pay for petrol. Any amount left over in the PetroCard is used in the next transaction where I might not have to use my credit card at all.

I also use my credit cards for internet transactions. I have a PayPal account linked to one of my cards and use that for international payments where PayPal is accepted.

I selected my credit cards after doing some research on my favorite merchants and their periodic credit card related schemes. For example West Side runs special discount promotions for HSBC card holders and I always use my HSBC card there.

I keep track of my credit card spends and always tally my card bills against the spread sheet where I record each transaction.

I somehow never learned to trust Debit Cards for merchant transactions. I use my Debit cum ATM cards solely for ATM transactions. The thought of the card being directly connected to my savings account is unsettling enough to make me avoid merchant transactions on these cards.

These days I carry very little cash in my wallet. A couple of thousand rupees are about all I have at any point of time. A couple of years ago we drove to Srisailam (from Hyderabad) and as usual I had about Rs 2500/- in cash on me. By the time we left I had a mere Rs 50 left in my wallet! It just didn't occur to me that merchants in Srisailam might not accept credit cards! On a more recent trip there I made sure I had enough cash on me.

I love my credit cards and their ease of use. However I never forget how much I can afford to spend in a month.

                                                                                                                                                      --Gautam Satpathy

How I made them stop unsolicited calls

I found a way to stop unsolicited calls from credit card companies. Despite requesting them over 50 times to stop unsolicited calls and text messages to me, when they did not do so, I made them an offer. I told them that since I am a busy professional and charge on the basis of time spent, I would be happy to receive their calls and SMSes but for a fee. Therefore, I started charging them Rs 2,500 per unsolicited phone call and Rs 1,000 per unsolicited SMSes. I then deducted my charges while paying their bill. The messaging and calling have stopped!

                                                                                                                                                                      -- B Ram

Every coin has two sides

This is not a story but reality to the urgent use of money. I have urgently required Rs 30,000/- in cash. I have tried with my friends, relative and other banks for loan but in vain. At the same time SBI card sent me a letter. In the letter it gave me offer a loan of Rs 35,000. Without wasting my time I accepted this offer and within two days I got the DD.

I fulfilled my need and paid all their EMIs in the stipulated time. Every coin has two sides. It depends upon the use and opportunity we get. I am using my credit card for more than two years but never received a false bill or any complaint of bill.

                                                                                                                                                          --Mahesh Mishra

I am living a happy life without credit cards

Why is it that we need to have credit cards? The very fact that we own one will lead us to not plan and take it for granted that even when short of money the credit card can compensate for it.

Then we purchase more than what we can afford. Then end up facing agents at home. There are many people who are living a normal and a peaceful life without credit cards too and I am one of them.

I was also dumped with more than 2 cards even though I never requested for it but I did not use them for 3 months and it got expired. I called the banks not to send me one but they continued and the best way to tackle it was to just leave it in the sealed envelope to expire.

Not having credit cards I know how much I have to use for what and I do not stretch my limits beyond that. It helps me in planning my expenses better and I am living a happy and organised life for the last 11 years from the day I started to earn. So when we can in fact live happily without these crazy cards, why do you want to opt for one?

It is the mindset that has to change that we cannot live without a credit card. Stop opting for one and just plan things in advance and use your money judiciously. Reduce wants and needs and live moderately.

                                                                                                                                                                    --Himanth

I paid my dues; still figure on the defaulter list

I was holding a CC with HDFC bank on which I had a dispute with the bank on the interest charged for almost 6 months after which they put a lien of Rs 24,000 for a principal amount of Rs 15,000 and deducted the same from my savings a/c in HDFC Bank, Noida branch without my approval. Even after this they never issued me a final settlement letter.

Recently I had applied for a home loan wit UTI and to my surprise I found my name appearing in the defaulter list and when UTI executive asked for a final settlement letter from HDFC Bank they claim I still have Rs 5,600 dues in my Credit card and once I settle that only then they shall remove me from the defaulter list.

I don't understand how HDFC bank can

1. Charge more than 40% interest in 6 months

2. Put a lien on my saving a/c without my approval

3. Not give me a full and final settlement even after deducting all the principal and interest from my saving a/c

4. Putting my name in the defaulter list and bar me from getting any other loan

And still get away with all this, please help me.

Now I have paid Rs 5,600 also to HDFC Bank since that was the only option to get my name cleared from defaulter list. I have registered the complaint with CORE cmplt id: 3321/7/2007 launched on 28-June-2007.

I have also sent the complaint to Banking Ombudsman in RBI on 9^th July and it seems these are just typical Indian govt agencies which have been formed without a purpose as they haven't even bothered to get back on the status of my complaint and want proof of every single communication which has happened with the bank in the last 3 years as if I knew all this is going to happen.

Out of 10 different banks that I am dealing with at least 30-40 letters been sent to me every month. For god sake gimme a break, ask HDFC Bank if they can prove an iota of what I have written is incorrect, they have all the details my cc acct, my saving bank acct and the recent cheque of Rs 5,600 which got cleared.

This is what happens to a person who is amongst the top 1% of tax payers in the country then why should anyone have faith in the whole damn system it sucks.

                                                                                                                                                           --Gautam Misra

Air ticket fraud on my credit card

I am a regular user of Citibank and ICICI bank credit cards. I do not do any online transactions. My transactions are limited to only restaurants, petrol and bill payments.

One day as a shock I received a confirmation call from Citibank regarding purchase of online Air tickets. I immediately replied I have not done any transactions and they said ok and issued me a new card. Surprisingly there were 12 transactions in all major airlines for a whopping Rs 90,000. I have raised an objection and filed the same as dispute transaction. Still it is pending. I don't know what will happen to that.

My question is that how to justify I have not done that? I have not given my card to any body or on that time I possessed the card myself. Now I am in very high mental pressure. Pls. help me!!!

                                                                                                                                                        -- Manjunath.G.M

Reader invite: Dear reader do you have an opinion on the debit card vs credit card subject? What do you think is more convenient to use and what are the pros and cons of using each of them? Share your experiences of using credit cards and/ or debit cards with getahead@rediff.co.in, and we will feature the best entries right here.

 Also read:

I have seen the ugly side of credit cards

Credit cards: Read the terms & conditions carefully

Credit cards are like dogs -- faithful

Credit cards vs debit cards: Take your pick

'Credit cards are sugar-coated posion'

Credit cards: 'A beautiful tool to manage cash'

'Credit cards are silent killers'

Credit cards: 'Never make impulsive purchases'

Credit cards: Beware of 'conditions apply'

'Who said credit cards are silent killers?'

Disclaimer: This is a reader-driven feature. The views expressed by the readers are their own, and not that of Rediff.com. Rediff.com has not altered the material presented here and does not endorse it in any way.