hi. i'm thinking of getting a new credit card and am basing my decision on feedback and sites like financeglobe.

could anyone share good or bad experiences with credit cards to help me out?

thanks!

I was holding a CC on which I had a dispute with the bank on the interest charged for almost 6 months after which they put a lien of 24,000 for a principal amount of 15,000 and deducted the same from my savings a/c without my approval. Even after this they never issued me a final settlement letter.

Recently I had applied for a home loan with a different bank and to my surprise I found my name appearing in the defaulter list and when the executive asked for a final settlement letter from previous Bank they claim I still have 5,600 dues in my Credit card and once I settle that only then they shall remove me from the defaulter list.

I don't understand how banks can
1. Charge more than 40% interest in 6 months
2. Put a lien on my saving a/c without my approval
3. Not give me a full and final settlement even after deducting all the principal and interest from my saving a/c
4. Putting my name in the defaulter list and bar me from getting any other loan

Be sure to stay below your credit limit!