A Major Demerit Of Credit/debit Card.

Discussion in Credit Cards started by luckycharm • Jan 25, 2017.

  1. luckycharm

    luckycharmActive Member

    Joined:
    Oct 5, 2016
    Threads:
    77
    Messages:
    465
    Likes Received:
    125
    I always advocate use of plastic money over hard cash due to its user friendliness and ease of use. But I realized one of its major setbacks last week. I was using my debit card to pay for groceries I purchased in a local super market. The POS machine declined the card and I got a sales reversal slip too. But when I checked later I saw that the amount was already debited to my account..

    Ideally I should get my money credited back within 7 days but it took around 20 days to get my money, that is after a lot of followup through mail and over phone. So not only I could not purchase the grocery items but also lost my money which only credited back very late.

    Do you have any such bitter experience with your cards?
     
  2. Jamille

    JamilleActive Member

    Joined:
    Oct 6, 2016
    Threads:
    11
    Messages:
    727
    Likes Received:
    111
    Thankfully, in my several years of credit card use, that has not happened to me. However, something like it happened to my ATM card. I tried to withdraw some money from a machine near the office but no cash came out. When I did a balance inquiry, I was shocked to find out that the amount was deducted from my account. I immediately went inside the bank to complain. I found out that several people had already lodged their complaint ahead of me. The bank did not even bother to put up a notice that the ATM was defective in spite the numerous complaints. It was like they deliberately allowed people to use the machine and have their money stuck with them. It took 2 weeks for the cash to be returned to my account.The bank apparently was already having financial troubles by then. It was closed two years later by the Central Bank. I was just glad that I had some emergency money or else, I would have turned to loan sharks!
     
  3. tonyb

    tonybActive Member

    Joined:
    Oct 3, 2016
    Threads:
    36
    Messages:
    901
    Likes Received:
    152
    I have had a bad experience trying to withdraw from the ATM machine using my debit card. I got an alert I've been debited but the machine never paid me any physical cash. I was seriously worried until some persons around who probably have experienced that before told me there was going to be a reversal. I felt better after about four hours when I got the reversal. I still can't understand why the machine would malfunction that way, it's shocking especially if that's all or a big chunk of the money you have in there.
     
  4. luckycharm

    luckycharmActive Member

    Joined:
    Oct 5, 2016
    Threads:
    77
    Messages:
    465
    Likes Received:
    125
    Another example was once my debit card was swallowed by the ATM machine. I can't approach the bank immediately as it happened at night. The very next day I went to the bank's customer care agent who could not locate the card and they were about to charge some money to get a new card. When I questioned that they arranged a meeting with Regional Manager who finally gave a special approval to waive off the charge. But I wonder why they charge when it was the fault of ATM machine. It did not even allow me to enter the amount of money I wish to withdraw.
     
Loading...
Similar Threads - Major Demerit CreditForumDate
Cons And Pros Of Credit CardCredit CardsOct 1, 2017
Credit Card Or Prepaid CardCredit CardsAug 29, 2017
Advantages Of Not Having A Credit Card?Credit CardsJul 6, 2017
Credit Card RewardsCredit CardsJul 1, 2017
Frustrated With Getting Major Credit CardCredit CardsMar 7, 2016