News From Press The Great Credit Card RIP-Off

The Great Credit Card RIP-Off

Source: Business World Jul 26, 2016

When Raj Salonkar ran into a minor cash crisis, he resorted to borrowing from his credit card as an emergency measure. Over time, the bills piled up. And before he knew it, the outstandings raced to over Rs 1.2 lakh, which the 34-year-old techie struggled to pay off. Subsequently, he ‘defaulted’ on the minimum payments required to keep the card in vogue.

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