This brought back some memories. This happened in 2002. We were final year students in dental college then. The rep of a prominent bank came to the hostel selling a credit card. I knew exactly how a credit card works. #creditcard
I feigned ignorance and asked him to explain to me how it works. All he kept on saying was “It has 35,000 on it. It’s a good card! Lots of benefits” No mention of repayment no mention of interest. Nothing. I said no thank you but followed him as he went to each room. #creditcard
He kept repeating the same charade. Finally I asked him “Why is your bank giving away 35,000 rupees to all of us without asking for anything in return?”


“How long do I have to return the money each cycle? One month? One year?


“If I don’t repay within the deadline, how much interest am I paying?”


On probing him further he finally gave the answers. Needless to say, no one got a card.

There was a commerce college near by. Some of the kids got the card. Spent it all in 1 day.

Could not repay. Started getting calls. One day the “collection guys” came by. Words were exchanged. One kid received some blows too! They kept on saying “We were never told we had to repay”

Remember this was 2002. No social media. No awareness.

The person who jumped could easily have been one of them. Or one my college friends.

The average American carries over $16,000 in credit card debt. This is from the website of one of the major credit cards directly:…

Think long and hard before falling into the trap! Nothing can mess up your finances as plastic money! It’s worse than gambling because there is no taboo attached to it.

Just remember-this man jumped to his death over 8 lakhs of CC debt. Money he did not have!

And how his family is irreversibly affected!

Like I said,think long and hard before getting into the vicious cycle of credit card debt.

Make a plan. Stick to a spending limit! Pay it off before the deadline. If u start seeing increased spending, shred the card!

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