The Hindu : Opinion / Letters to the Editor : On credit cards

Online edition of India's National Newspaper
Friday, Feb 25, 2005

Opinion

Opinion - Letters to the Editor

On credit cards

Sir, — Much has been said about the evil effects of credit cards and the strategy being deployed by their marketers to hook the gullible middle class customers. But the other side also merits objective analysis. Apart from eliminating the risk of carrying cash, especially during long travels, cards are handy when one is in dire need of money to buy something urgently. Problems crop up only when they are handled recklessly.

V. Girish Kumar,
Chennai

Sir, — Wisely used, credit cards enable us to pay up when we are short of cash, particularly during emergencies. Those who do not know when to stop anyway come to grief, cards or no cards.

J.M. Manchanda,
New Delhi

Sir, — Though banks that promote cards are responsible for exploiting the young, parents are equally to blame. It is their responsibility to control the expenses and pocket money of their children.

Mahip Rekhani,
Secunderabad

Sir, — Credit cards are an easy instrument of payment while shopping, etc., but they come with a heavy price tag. It is for the users to limit spending through cards and avoid falling into debt traps.

P.A. Venkataraman,
Chennai

Sir, — Maybe there can be some restrictions on the use of credit cards by those under a particular age?

P.M. Gopalan,
Sturtevant, Wisconsin

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