Daily Archives: June 12, 2008

Will I ever get a credit card?

Journalists, lawyers, actors, politicians and the police are always envied for the kind of connections they have. This class of professionals have their way of getting things done in their favour. But these privileges do not coming knocking on their doors everytime. There are times when doors are shut only because of whom they are and the work they do.

Journalists, lawyers, actors and politicians and the police are black listed professions for banks when it comes to issuing credit cards and loans. Even if you want a credit card, it is a luxury. However, some of them have their way out.

I have applied several times for a credit card and have been refused every single time for the reason “profession not desirable” or “not credit worth”. What do banks mean by this? Am i engaged in some black business or something? I am a tax paying citizen of India. If I come within the tax bracket how can they classify me as not credit worthy?

After speaking to a number of banker friends, I got to know the real picture. Banks choose to harass the common man. In case journalists, lawyers, politicians, actors and the police default on payments and the bank uses harsh methods of recovery, the journalist will expose them in the media, lawyers will file a suit against them for harassment, the police, actors and politicians will use their connection against the bank.

Issuance of credit cards is the at the sole discretion of the bank but does that give them the right to deny credit to these professionals?

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