Credit cards have been playing havoc with the lives of people. Several families have been ruined. It’s a surprise that banks are not being punished legally and firmly for pushing loans to those who cannot afford to repay.
No wonder, at one time the Dubai police chief called for easing of regulations as the emirate’s jails were getting filled with people guilty of issuing bouncing cheques. Can you believe this? The UAE is estimated to have Dhs20 billion as outstanding payments on credit cards.
My own brother, who earns a very moderate salary in Mumbai, ended up with so many credit cards, he is now selling off his only house to repay and move on rent. He says he took one card to repay another, and another and another…Well..
“I am up to my ears in debt,” cried another victim to me.
Many refuse to live within their means. My appeal to at least those who visit this blog (you are my near and dear ones, I swear): Plzz, never allow this materialistic monster, credit card, to trap you.
Shucks, why are we getting serious? Let’s pick up a credit card joke from the Net: A man said his credit card was stolen but he decided not to report it because the thief was spending less than his wife did.
PS: Until today, I do not have a single credit card. Do not know about the future.