Credit Card

Recently, the instances of not accepting credit cards in stores/shops has increased. Most of them have given the reason that the machine is not working.

I wonder if this is because of the cost cutting measures that every shop-owner is implementing. I am told that these people need to shell out some 2 to 2.5% of every transaction to the bank issuing that swipe machine. In that case, my conclusion seems logical.

I look at the credit card as a means to keep track of all my expenses. Given the consumer culture in India, not every establishment accepts the credit card; but I try and find out if credit card is accepted. For me, it's more of tracking mechanism rather than 45 days of interest free loan. Considering the recent trend of swiping machines getting vanished from shops, I think I'll need to start carrying cash again...


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