Tag Archives: Credit card

Cardholder

img_2918_1Yesterday I happened to meet one of my friend and I noticed wallet full of cards with her. I was surprise that she possessed so many cards. See the picture which I have clicked (posted with her permission). My inquisitive to know more made me asked her why she carries so many cards with her. The response was actually a valid one.

The logic is as follows :-

  • Credit Card – we (almost all of us) have minimum of 2 credit cards.
  • ATM/Debit cards – again 2 nos. since one salaried account and other a normal account.
  • PAN card – now a days very much important and mandate requirement at many places.
  • AADHAR card – which I suppose is a flop scheme of government, but since one already has applied and got it then better to keep it.
  • Voting card – used for election purpose and which is a pride to have one with us.
  • Driving license – again depends if you have separate 2 and 4 wheelers license.
  • Club / Retail membership cards – this is if you are a member of some club or any retail outlet.

So if you start counting or already must have counted then the minimum cards one can posses is 1 dozen 🙂 .

I have noticed with many of my friends that it’s a benefit to have many different bank credit cards. Reasons are many; some cards are used for getting offers on flight bookings, some cards give better offers on booking movie tickets, some other cards help to earn more points than other cards, some cards don’t charge you any tax while using to refill fuel in the car, some cards give discounts on online shopping and the list goes on and on …. Point to be noted here is that not one card will give 2 or more benefits at a time. So one has to apply different cards to avail all the above facilities.

Possessing so many cards is not an issue but maintaining them is a headache. Each will have different payment due date and remembering all of them is a big task. Also not to forget the online frauds on credit and debit cards. I personally have been a victim of the same and I am thankful that the fraud amount was not a huge one.

I personally also did check myself on the number of cards I do posses and yes my friend was right. It is just that I carry few of them in my wallet, few others in my credit card pouch and rest of them I have kept at home as I think there is no need for me to carry all of them on daily basis.

I am sure after reading my post, you will surely be checking the number of cards you have with you and will be smiling on the total count :).

Credit card fraud !!!

credit-card-fraudThis is a true story.

This happened to me and I am writing this so that you all can be aware of such fraud happenings around us everyday.

In today’s world internet is blooming and so is online business. One can find almost everything one needs for day to day life through online shopping. I myself buy lots of electronic goods and accessories through online stores. Booking of railway tickets and LIC premium payments are made using credit card or net banking facility.

Couple of months back, I had to purchase one software for my official use and hence I used my credit card to pay the same in USD. That particular website through which I made the purchase was associated with Paypal and the payment gateway was through Paypal website. So I had no choice but to register with Paypal. I used my ICICI bank credit card (my first credit card). Paypal has the policy to first register the card on their website which includes 16 digit card number, name of the card holder, date of expiry of the card. This is a mandatory step and being an IT techie I don’t like to register such details on any websites but was forced to enter it as per Paypal policy.

The paymcredit-card-fraud_1ent was successfully done and when I tried to delete my Credit card details which had got saved in the Paypal website, it did not allowed me to do so. Upon calling their Help Centre, I was being told that once the payment is successfully cleared from my credit card bank, then only I can remove the details which will normally take 48-72 hours. Now this was ridiculous and not acceptable at all. But again I was left with no option and had to remember to login on the Paypal website after 2-3 days and delete the details.

As usual, I am quiet forgetful and forgot this too. And just few days back I received two SMS on my cell and even emails mentioning that there were two transactions of 50$ each from my credit card thru Paypal website. I got shocked on receiving such acknowledgements, as no transactions were done by me. I logged into the Paypal site and saw details of the 2 online payment done to some company in China. I immediately called up ICICI bank customer care and informed them about the illegal transaction and asked them to stop the payment ASAP. Then next step was to call Paypal Help Centre team and I was informed to file illegal/fraud transaction complaint online through the website only. Though this happened on a weekend and luckily I was at home so I could do it immediately. If I had not reported this fraud immediately then my money would have got debited from my card and then nothing could have been done.

After seven working days, from the time the complaint was filled with Paypal, I finally got the confirmation from Paypal that the transaction was illegally done through some other country and I was not liable to pay anything. This gave me a sigh of relief (although the amount was not big but why I should bear the amount which was fraud). This time my immediate step was to clear my credit card details and delete my profile from Paypal. I also deactivated my old credit card and in-return ICICI issued me a fresh card with new card number.

In India, there is no provision if any such frauds happens with you wherein your insurance company pays back the amount to you if it is an illegal transaction.

But thanks to the technology (sms, emails) which helped me from becoming one more victim of fraudulent cases.