The wild, wild world of credit cards

If the credit card limit is exceeded, it is your problem. And, that is true even if the card is stolen.

Twenty-year old Anil Sharma did not know that a small negligence in keeping track of his credit would mean a bill of Rs 18 lakh, especially, since his credit limit was only Rs 55,000. A call, however, to the customer support of the bank confirmed the amount.

Sharma swung into action immediately and filed a police complaint. He even informed the issuer about the unfortunate event.

Text: Business Standard

Images: Reuters/AFP

Also see: How to protect yourself from credit card frauds