The Hindu Business Line : Card sharp

The concluding statement that “(credit card holders) must use the cards responsibly” is fine, but suggesting that they only “pay the minimum monthly amount before the scheduled date to enjoy the unending benefits of owning a credit card” is misleading.

Those who only pay the minimum will also pay high interest on all future purchases using the card.

The credit card industry thrives on making people pay exorbitant interest.

Instead of people from the industry, your own unbiased journalists must write these articles in consultation with professionals, along with anecdotal evidence from cardholders.

Otherwise, you will mislead younger readers who may not be aware of the pitfalls of, for instance, paying only the minimum every month.

Similarly, I see mutual fund managers regularly writing in many newspapers about the benefits of SIP investments, when independent researchers and academics know that SIPs don’t always work to investor’s advantage. But this is the best way for the mutual fund industry to get salaried people to invest with them every month.

I write this because I am an avid reader of Business Line every Sunday.

Mohan Sivanand Mumbai

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