3 days great period

Now we will get 3 extra days after bill due date for credit cards to pay per RBIs latest rule. Good work. more  

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Mr.Raj Bhatia this what exactly I also told. Credit card system is useful but charging and manipulating by the companies is bad more  
Mr Prem Gupta, I agree with you that 3 days is a reasonable period to pay. But is five days to clear the cheque is reasonable? more  
I may bring to the attention of all members, that credit card system is basically beneficial for all concerned. Credit card holder as a convenience to purchase goods and services on credit card. Stores and shopping centers who are able to sell more on credit cards plus get the amount from credit card companies less 2.5 to 5% commission. Therefore all the parties = credit card holder, service provider and credit card companies benefit. However, credit card companies have become too greedy when it has started charging excessive amount on a delay in collection of amount. It is a typically money lender mentality where he thinks that now I can make a kill. more  
Banks charge 36% for the purchase amount of the month also if payment is overdue. This practice should also be stopped.
D more  
I think due date +3 days is a reasonable period to pay. However, interest rates are too high and needs to be brought down. As far as signing the papers is concerned, we all know very well that hardly any body reads or understands the implications of the terms and conditions as the documents are too lengthy and font size is too small. more  
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