Share Your First Credit Card Story! - Page 2

I got my first credit card back in the mid 90's when I started working for a software company in SEEPZ, Andheri East, Mumbai, right after my graduation. Back then, the credit limits (and salaries) were relatively low even though salaries in the software industry were higher compared to most other professions. I think my credit limit was around Rs. 10,000. I don't remember which bank issued it, I probably didn't care.

Back then, cash was king! Still is? Very few sellers accepted credit cards and some of those that did gave you a sideways glance, as though you don't have what it takes to pay with cash. They were probably right

I remember I used to do credit card shopping on Pedder road and Warden road. Shirts, shoes, ties and some such.

Having a credit card definitely gave me a false sense of owning more than what I had in the bank. Initially the arithmetic in my mind was: Total money I had = bank balance + credit limit. But when the bills came due, and what I owe got debited, I realized that the card was just a convenient tool to carry around so pickpockets in the local trains and BEST buses wouldn't get to my wads of cash.

Tips to first time card holders? Pay on time (if possible, in full) and keep the utilization low. Just because you have it doesn't mean you use it to pay towards all kinds of expenses. At the same time, having a "thin file" is not good either for a good credit score as at some point in life, most people would need access to a big line of credit.

Never had a Credit Card at all nor did I feel the need to have one.
I do payment using Debit Card or GPay.

I got my first CC two-ish years back. Most CCs in India have certain charges just for owning one. So I asked the bank if they will be waiving it off or something, otherwise I won't use the card. They asked me to spend a certain amount within a month of activation and the charges will be waived off. I paid one of my policies, got credit points and lifetime charges waived off.

I always keep the autopay on, never miss the payment and keep the limits to minimum on most days except when I'm out shopping. It takes a few minutes to change the limit through NetBanking, so it's the safest solution.

Tip to new users, there's always a bunch of offers on CCs - use them, get those yearly transaction charges (usually between 2-5k) waived off. Use the credit points or turn them into cash before they expire. Although most credit points are not that good of a deal but converting it to cash is an option.

There are CC based offers on Amazon, Flipkart etc, use them wisely.

I use credit card for big puchases like a refrigerator or an airconditioner or a tab etc but when I do make these purchases I make sure that I replace to ensure at least s 50%of the card limit is remaining so that there's money in case of emergency.

Make it a point to pay my installments the moment I recieve my mothly pay slip.

Other purchases and bill payment is done mostly cashless transactions.

Originally posted by: GoodDoc_2105

I use credit card for big puchases like a refrigerator or an airconditioner or a tab etc but when I do make these purchases I make sure that I replace to ensure at least s 50%of the card limit is remaining so that there's money in case of emergency.

Make it a point to pay my installments the moment I recieve my mothly pay slip.

Other purchases and bill payment is done mostly cashless transactions.

We used to interact frequently in Balika Vadhu forum nearly a decade ago!

Originally posted by: Viswasruti

I am very happy seeing you here, Aparna.

We used to interact frequently in Balika Vadhu forum nearly a decade ago!

Balika Vadhu was not just a show. It made for a very memorable TV watching experience even when it had low points.

Viswaruti name is what I'm familiar with

I was happily using cash until banks started pestering me to take their credit card. I resisted to have a credit card for a long time (same with mobile phone).

Once I got the card, I don't think I used it for any particular/remarkable purchase. Must have used it for regular household items/to fill the tank.

The best thing we can do with credit cards is clear the bill by due date.

Cheers..

Cool story. Thanks for sharing