I was introduced to credit cards around 5 years back by one of my friend. Actually I was not willing to push hard to get a credit card at that time. One of my friend applied for a credit card through an executive of a well know private bank. At the same time he introduced me to the executive and the guy came to meet me the next day itself. After talking with him, I too agreed to apply for a credit card.
After one month, I got a courier at my office in NOIDA and I was much delighted to see the credit card when I opened the parcel. I was really over the sky as I considered myself a proud owner of a credit card. At that time credit card was not such a common thing and the irony is that my friend's credit card application got rejected. My friend told me that I was lucky enough to get the credit card and also warned me to use the credit card in the proper way.
In the first 6 months I never used the credit card and after around 6 months, I was forced to purchase something with the credit card. The purchase was urgent and I didn't have enough cash in my bank account and I had to rely on the credit card for the first time. The feeling was awesome as I was able to purchase the product with the credit card.
For the next few months, I spend my time paying the EMI and after 4 months, I again happened to wander around a famous shopping destination in Delhi with my friend. It was the end of the month and both of us had not yet got our salary. But both of us got stuck on some items in the shopping center and we could not resist us from buying them. At that time also the idea of credit card came into my mind and we purchased the items through the credit card.
This was the beginning of a much bad habit and such incidences started occurring frequently and as a result my EMI started to increase. It was at this time that I applied for 2 more credit card and got both of them. Now I started using the new card once the limit on my first card was reached and as a result I ended up paying a huge amount of my salary as EMI. Ever since I am controlling my credit card usage, but credit card is like an addiction and it is really hard to control its usage.
For the last 5 months, I have not used any of the credit cards, but just paying the heavy EMIs from my salary. The credit card has really become a burden and the unwanted hidden charges imposed by the banks makes it more worse.
If you are planning to apply for a credit card, think twice. Apply only if you are confident enough to control the usage, or else you would get drowned in the eternal debt
After one month, I got a courier at my office in NOIDA and I was much delighted to see the credit card when I opened the parcel. I was really over the sky as I considered myself a proud owner of a credit card. At that time credit card was not such a common thing and the irony is that my friend's credit card application got rejected. My friend told me that I was lucky enough to get the credit card and also warned me to use the credit card in the proper way.
In the first 6 months I never used the credit card and after around 6 months, I was forced to purchase something with the credit card. The purchase was urgent and I didn't have enough cash in my bank account and I had to rely on the credit card for the first time. The feeling was awesome as I was able to purchase the product with the credit card.
For the next few months, I spend my time paying the EMI and after 4 months, I again happened to wander around a famous shopping destination in Delhi with my friend. It was the end of the month and both of us had not yet got our salary. But both of us got stuck on some items in the shopping center and we could not resist us from buying them. At that time also the idea of credit card came into my mind and we purchased the items through the credit card.
This was the beginning of a much bad habit and such incidences started occurring frequently and as a result my EMI started to increase. It was at this time that I applied for 2 more credit card and got both of them. Now I started using the new card once the limit on my first card was reached and as a result I ended up paying a huge amount of my salary as EMI. Ever since I am controlling my credit card usage, but credit card is like an addiction and it is really hard to control its usage.
For the last 5 months, I have not used any of the credit cards, but just paying the heavy EMIs from my salary. The credit card has really become a burden and the unwanted hidden charges imposed by the banks makes it more worse.
If you are planning to apply for a credit card, think twice. Apply only if you are confident enough to control the usage, or else you would get drowned in the eternal debt
