Rising number of active cards in India, which has reached about one crore in 2005, brought many undesirable effects like credit card frauds, payment defaulting, unsolicited card, uncontrolled spending etc. These drawbacks of the system have to be taken off by educating and making all the relevant parties more aware and more knowledgeable. This article also provides tips for safe use of cards.

Credit card is one of the very popular financial products which are being regularly used by the middle class and elite people but without proper knowledge and understanding of the product.

It is the main reason why people in many situations land up in trouble for the credit card which they are using and sometime the card which they are not even using. The convenience in using credit cards make it very popular throughout the world and any urban society just cannot think without it. India is not an exception to it as the number of active credit cards, which was only a few thousands in 1989, shot up to about 1 Crore in 2005. However, this boom has brought in a lot of complications like credit card fraud, payment defaulting, unsolicited card, uncontrolled spending etc. The drawbacks of the system have to be taken care off by educating and making all the relevant parties more aware and more knowledgeable.

As credit cards have become an integral part of modern urban society, it is advisable not only to know the product very closely but also to know how to use it along with the awareness of its darker side, if any. Let's have a systematic discussion about all these in a nutshell, which shall help us in using the card more safely and economically.

Professional Banker Magazine, Credit Card Frauds, Customer Relationship Management, CRM, Automated Teller Machine, ATM, Assets and Liabilities, Customer Awareness Program, Credit Card Statistics, Card Features, Credit Requirement, E-Commerce.