CREDIT CARDS SHOULD BE BANNED!

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 CREDIT CARDS SHOULD BE BANNED!

Banks are openly Exploiting & Looting People through Credit Cards [CC]!
Credit Cards' Annual Interest Rates for various banks are 24% to 42% while you get only 3% to 8% Annual Interests out of your Fixed Deposits! What an injustice!
Once your 'Credit Limit' is used up, then, your 'Available Credit Limit' goes down to 0 [zero] that means you can no longer use the credit facilities though your Credit Card!
Then, from this point onwards, they start looting you by charging 'Minimum Amount Due' every month to the tune of 4K to 10K or more depending on the 'Credit Limit' you have!
In Spite of paying the 'Minimum Amount Due' regularly every month, your 'Total Amount Due' keep on increasing instead of decreasing by deducting the amount paid every month!
That means CC Banks / CC Companies are freely looting you openly in the name of collecting 'Minimum Amount Due' from you without diminishing your 'Total Amount Due' to them!
This exploitation & looting continues even when you totally stopped using the Credit Card for months/years!
They neither allow you to close the Credit Card A/c nor stop charging the monthly 'Minimum Amount Due' thus skyrocketing the accumulation of the 'Total Amount Due' to such huge debt that you are unable to pay!
Then, as the next cruel step, they will file court case against you as a Bank defaulter & harass you to recover the unjustified amount they manipulatively created against you as your debt to them!
So, these so called CREDIT CARDS are DEBT TRAPS / CURSE IN HIDING / CRIMINALIZING OF CUSTOMERS!
CREDIT CARDS systems currently in use by the Banks are doing INJUSTICE to the people, EXPLOITING people, HARASSING people, ... TOO BAD 🙁
SO, ALL THE CREDIT CARDS SHOULD BE BANNED EVERYWHERE OR CHANGE THEM TO PEOPLE FRIENDLY MONEY SERVICING/LENDING SYSTEMS!
PS: While Banks write off the huge loan defaulters in terms of thousands of crores by the big companies / big corporations / rich people but banks run after the poor & middle class with small debts like Credit Card debts & even charge the poor people for being unable to maintain the Minimum Balance in their Accounts!
WHAT AN INJUSTICE!
PLEASE STOP THIS IMMEDIATELY!

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