opening too many credit cards has ruined my finances

[Random123]

Still continuing to Glace him xD.

On a serious note, yes well said.

Thanks for the kind words. Well he did come here asking for advice so that’s a start. And though tough times bring about all kinds of thoughts , it helps to have support of others to take the best way forward. At the end of the day all of us want to help in our own way!

Also these situations are showing why financial literacy is very important in our society. I for one have learnt a lot from experience and advice shared by others but would think knowing these as part of our upbringing would also help rounding the edges for the financial journey and mitigate these scenarios.

 

[RAMESH BABU N]

.... owing these as part of our upbringing would also help rounding the edges for the financial journey and mitigate these scenarios.

Of late, parents are abdicating their responsibility. They think admitting their kids into the best school/college is all they need to do. ABSOLUTELY NIL monitoring on the kids. Providing all the necessaries is needed - but providing all unwanted luxuries is becoming the fashion. School kids are now seen using iPhones. Bikes for school going kids. All this pampering is happening due to the we-2-our-1 nuclear family policies. Too bad for such kids. No adjustment mentality. No advice is ever accepted. Not trained to do hardwark or accept failure. Or, how to deal with a setback. Both parents running after pseudo status, neglecting the kid(s). No time for their own discipline - and they expect kid(s) to be Mr/Miss Perfects.

Sad state of affairs, indeed.

Even in this TF forum, I am pained to see youngsters doing hera-pheri things to get what they want. No value system, no scruples. On top of it, advocating the same in such Social media - where thousands are observing them.

Unhappy to read such threads/posts. But, I know, it is the in thing nowadays.

Enjoy the show from the gallery.

 

[Pradumya]

Of late, parents are abdicating their responsibility. They think admitting their kids into the best school/college is all they need to do. ABSOLUTELY NIL monitoring on the kids. Providing all the necessaries is needed - but providing all unwanted luxuries is becoming the fashion. School kids are now seen using iPhones. Bikes for school going kids. All this pampering is happening due to the we-2-our-1 nuclear family policies. Too bad for such kids. No adjustment mentality. No advice is ever accepted. Not trained to do hardwark or accept failure. Or, how to deal with a setback. Both parents running after pseudo status, neglecting the kid(s). No time for their own discipline - and they expect kid(s) to be Mr/Miss Perfects.

Sad state of affairs, indeed.

Even in this TF forum, I am pained to see youngsters doing hera-pheri things to get what they want. No value system, no scruples. On top of it, advocating the same in such Social media - where thousands are observing them.

Unhappy to read such threads/posts. But, I know, it is the in thing nowadays.

Enjoy the show from the gallery.

I am 24 years old, and OP is 23 years old.. I should be relating to him but I don't know why I relate with your post sir.
Gratitude and fear is missing in people of my age as well. I even get worried now, when new parcel is coming in like what will I tell parents why I ordered it, what it is etc..
Here this guy got 11lac limit on cards, no qnA session with parents 🤔

i used to get jealous earlier when I initially joined TF that people younger than me are getting so many cards, know so much etc.
NOw I just enjoy learning through other's experiences.

 

[Maikalal Jaikishan]

Brother/Sister,

You need to come clean to your parents. The only solution is to repay the dues. The people on techfino aren't going to help you with that. Only your parents will come up with the money. Leave this empty talk and approach the people who can actually help you - your parents. You should learn to differentiate between people who will truly help you by putting their money where their mouth is, and the people who are only inviting you to share more details because they have the "curiosity ka keeda", with no intention of actually helping out in material terms.

 

[RAMESH BABU N]

REMEMBER

Self help is the best help.

Live within your means.

Family is irreplaceable n forever dependable.

Act swiftly to cut further losses.

 

[RAMESH BABU N]

I know cases where such defaulters went abroad for studies n topk up some job... Banks write to our Indian Embassies and catch hold of such guys. Two chaps have lost their job n were evicted to return.
Avoidable nuisance for parents...
Black spots on career n in GoI books, besides those Bank books.
All this for what ?
Just 4 lakhs (in this case) ?
Is it worth it?

Yesterday, we were discussing this topic.

Today, I see this in Economic Times.

Public sector banks may get legal teeth on issuing lookout circulars - The Economic Times - https://m.economictimes.com/industr...medium=social&utm_campaign=socialsharebuttons

 

[newinnov]

Judgment delivered ...by two judge bench.. Case Closed.... move on to next case please !!

Bhai! Aap kya nahi ho? (you are everything and everywhere... )
You can even give complexion to Modi himself 😀
Financial advisor, Engineer, IT Architect, Self-employed professional, Axis @$$ kicker, Now even a solicitor/advocate/judge... 🙏😂

 

[RAMESH BABU N]

Back in 2020 i started watching technofino and got intrigued by cc community i was 19 at that time. took a fd an opened my first cc under sbicards. used that card and cards after that to make more cards right now with like 11 lacs combined with zero income in 2024. i used to use methods like upi payment and apps to pay cc bills with my other ccs and used to juggle between them with 0% interest. last two months i was MIA in remote location for vacation. didnt use my phone much. now the interest and charges that incurred were crazy idk how ill pay it back as my cards got closed too. Im a active user in this forum hence using this alt account to post.

FINALLY,

What have you done ?
Informed parents ?
Raised funds n paid dues ?
Or, dodging the issue ?

 

[ALOAK]

First thing is how did the bank provide cards without income proof and at 19 he is a student. They should not have issued. Even banks are tsking itnlightly as they want to make money.
With regular income bank rejects application. Astonished they issued based on fd. From a secured card banks should not be issuing unsecured cards to teenagers. Wonder how he got into 4lakhs outstanding. One needs to have a income backup to make payment even if u rotate it. This lad must have got blindly entho abt luxury and status. This is common nowadays with youngsters. Saving mentality is gone.
Talk to your parents and settle it else civil score will get affected once it shows settled. When you really require you wont get credit from bank.
Get funds fro. Your patent

 

[ALOAK]

First thing is how did the bank provide cards without income proof and at 19 he is a student. They should not have issued. Even banks are tsking itnlightly as they want to make money.
With regular income bank rejects application. Astonished they issued based on fd. From a secured card banks should not be issuing unsecured cards to teenagers. Wonder how he got into 4lakhs outstanding. One needs to have a income backup to make payment even if u rotate it. This lad must have got blindly entho abt luxury and status. This is common nowadays with youngsters. Saving mentality is gone.
Talk to your parents and settle it else civil score will get affected once it shows settled. When you really require you wont get credit from bank.
Get funds fro. Your patents or if your working now start paying off every pie if u dont want to get affected in cibil score

 

[SSV]

Bhai! Aap kya nahi ho? (you are everything and everywhere... )
You can even give complexion to Modi himself 😀
Financial advisor, Engineer, IT Architect, Self-employed professional, Axis @$$ kicker, Now even a solicitor/advocate/judge... 🙏😂

He he , somehow I missed this post yesterday…

My background…
1) Studied up to 10th Standard in govt ZPPH schools in Telugu Medium.. (Chanti gadu Local - for Telugu guys consumption)
2) Studied 12th Standard in the prestigious APRJC Nagarjuna Sagar( Andhra Pradesh Residential Junior College) after achieving State 2nd Rank in the entrance exam.
3) Studied BCom - in Badruka College of Commerce Hyderabad ( it is state level equivalent to Sri Ram College of Commerce Delhi)
4) Completed my Cost Accountancy ( ICWAI then, ICMA now) at the age of 21. And worked as a Finance Executive for a brief period before moving to Australia . Also was in the middle of my CA course but couldn’t complete it because I went to Australia for my masters studies in Computing.
5) Completed my Masters in Information Technology from Griffith University Gold Coast Australia. Achieved Academic Excellence Award which is equivalent to Gold Medal ( University Topper in my course)
6) Joined as Support executive in IT services and worked as Technical Solutions Architect in Business Intelligence Systems for NSW Health, Australia.
7) Back in India, Worked as SDM and now working as Director - Delivery in an IT start up.
8) Australian Citizen , Indian Resident (on OCI).

More than anything else , discipline, common sense, good analysis , impartiality, integrity, ethics etc will make one stand out….
My complete CV is out now and I hope you find a better job for me!! 😎

 

[Zacobite]

First thing is how did the bank provide cards without income proof and at 19 he is a student. They should not have issued. Even banks are tsking itnlightly as they want to make money.
With regular income bank rejects application. Astonished they issued based on fd. From a secured card banks should not be issuing unsecured cards to teenagers. Wonder how he got into 4lakhs outstanding. One needs to have a income backup to make payment even if u rotate it. This lad must have got blindly entho abt luxury and status. This is common nowadays with youngsters. Saving mentality is gone.
Talk to your parents and settle it else civil score will get affected once it shows settled. When you really require you wont get credit from bank.
Get funds fro. Your patents or if your working now start paying off every pie if u dont want to get affected in cibil score

he says that TF helped him get the cards.. and also the cards are all premium cards.. so something is working well here even if the end result is iffy for a few

 

[newinnov]

He he , somehow I missed this post yesterday…

My background…
1) Studied up to 10th Standard in govt ZPPH schools in Telugu Medium.. (Nani gadu Local - for Telugu guys consumption)
2) Studied 12th Standard in the prestigious APRJC Nagarjuna Sagar( Andhra Pradesh Residential Junior College) after achieving State 2nd Rank in the entrance exam.
3) Studied BCom - in Badruka College of Commerce Hyderabad ( it is state level equivalent to Sri Ram College of Commerce Delhi)
4) Completed my Cost Accountancy ( ICWAI then, ICMA now) at the age of 21. And worked as a Finance Executive for a brief period before moving to Australia . Also was in the middle of my CA course but couldn’t complete it because I went to Australia for my masters studies in Computing.
5) Completed my Masters in Information Technology from Griffith University Gold Coast Australia. Achieved Academic Excellence Award which is equivalent to Gold Medal ( University Topper in my course)
6) Joined as Support executive in IT services and worked as Technical Solutions Architect in Business Intelligence Systems for NSW Health, Australia.
7) Back in India, Worked as SDM and now working as Director - Delivery in an IT start up.
8) Australian Citizen , Indian Resident (on OCI).

More than anything else , discipline, common sense, good analysis , impartiality, integrity, ethics etc will make one stand out….
My complete CV is out now and I hope you find a better job for me!! 😎

Yes, I have one job for you-
"Angrezo Bharat Chhodo"
(Simon Go Back!) 😁

 

[SSV]

Yes, I have one job for you-
"Angrezo Bharat Chhodo"
(Simon Go Back!) 😁

I am staying here legally with GOI permission with all facilities provided

 

[doraemon]

He he , somehow I missed this post yesterday…

My background…
1) Studied up to 10th Standard in govt ZPPH schools in Telugu Medium.. (Nani gadu Local - for Telugu guys consumption)
2) Studied 12th Standard in the prestigious APRJC Nagarjuna Sagar( Andhra Pradesh Residential Junior College) after achieving State 2nd Rank in the entrance exam.
3) Studied BCom - in Badruka College of Commerce Hyderabad ( it is state level equivalent to Sri Ram College of Commerce Delhi)
4) Completed my Cost Accountancy ( ICWAI then, ICMA now) at the age of 21. And worked as a Finance Executive for a brief period before moving to Australia . Also was in the middle of my CA course but couldn’t complete it because I went to Australia for my masters studies in Computing.
5) Completed my Masters in Information Technology from Griffith University Gold Coast Australia. Achieved Academic Excellence Award which is equivalent to Gold Medal ( University Topper in my course)
6) Joined as Support executive in IT services and worked as Technical Solutions Architect in Business Intelligence Systems for NSW Health, Australia.
7) Back in India, Worked as SDM and now working as Director - Delivery in an IT start up.
8) Australian Citizen , Indian Resident (on OCI).

More than anything else , discipline, common sense, good analysis , impartiality, integrity, ethics etc will make one stand out….
My complete CV is out now and I hope you find a better job for me!! 😎

Completing cma at 21 is awesome

I am 20 now and in ca inter
If everything goes well
Than also It will take 2 years of articleship+1 year of ca final
Hopefully by end of 23 I will get the membership


Your achievements are dream achievements of many😃

 

[Nishan11]

He he , somehow I missed this post yesterday…

My background…
1) Studied up to 10th Standard in govt ZPPH schools in Telugu Medium.. (Nani gadu Local - for Telugu guys consumption)
2) Studied 12th Standard in the prestigious APRJC Nagarjuna Sagar( Andhra Pradesh Residential Junior College) after achieving State 2nd Rank in the entrance exam.
3) Studied BCom - in Badruka College of Commerce Hyderabad ( it is state level equivalent to Sri Ram College of Commerce Delhi)
4) Completed my Cost Accountancy ( ICWAI then, ICMA now) at the age of 21. And worked as a Finance Executive for a brief period before moving to Australia . Also was in the middle of my CA course but couldn’t complete it because I went to Australia for my masters studies in Computing.
5) Completed my Masters in Information Technology from Griffith University Gold Coast Australia. Achieved Academic Excellence Award which is equivalent to Gold Medal ( University Topper in my course)
6) Joined as Support executive in IT services and worked as Technical Solutions Architect in Business Intelligence Systems for NSW Health, Australia.
7) Back in India, Worked as SDM and now working as Director - Delivery in an IT start up.
8) Australian Citizen , Indian Resident (on OCI).

More than anything else , discipline, common sense, good analysis , impartiality, integrity, ethics etc will make one stand out….
My complete CV is out now and I hope you find a better job for me!! 😎

Whoa,best wishes for future endeavors.

Now kindly guide me the best way to travel Australia for holiday from delhi/Mumbai & visa process. 😄

 

[Nishan11]

Completing cma at 21 is awesome

I am 20 now and in ca inter
If everything goes well
Than also It will take 2 years of articleship+1 year of ca final
Hopefully by end of 23 I will get the membership


Your achievements are dream achievements of many😃

I did my engineering from BITS Pilani, then did MBA from SIBM Pune.

Did job in Cognizant as product consultant for few years.

But administrative govt job was my dream, so I was preparing for it also. Cracked civil services & currently posted in CG Secretariat, family settled permanently in Raipur, Chhattisgarh which is my hometown too. No more career change now 😂

 

[SSV]

Completing cma at 21 is awesome

I am 20 now and in ca inter
If everything goes well
Than also It will take 2 years of articleship+1 year of ca final
Hopefully by end of 23 I will get the membership


Your achievements are dream achievements of many😃

Excellent.. thank you…
Best wishes for your CA exams and internship..

 

[Riya]

Back in 2020 i started watching technofino and got intrigued by cc community i was 19 at that time. took a fd an opened my first cc under sbicards. used that card and cards after that to make more cards right now with like 11 lacs combined with zero income in 2024. i used to use methods like upi payment and apps to pay cc bills with my other ccs and used to juggle between them with 0% interest. last two months i was MIA in remote location for vacation. didnt use my phone much. now the interest and charges that incurred were crazy idk how ill pay it back as my cards got closed too. Im a active user in this forum hence using this alt account to post.

I read your post and it seems you are not presenting the whole picture... Where exactly did you used your cards and how were you able to even pay back the dues with no income... Balance transfer doesn't work the way you are telling...
And as far as I can tell, there is no location in India where you don't get cellular signals these days... So it's like impossible to survive without it...

 

[SSV]

I did my engineering from BITS Pilani, then did MBA from SIBM Pune.

Did job in Cognizant as product consultant for few years.

But administrative govt job was my dream, so I was preparing for it also. Cracked CGPSC & got job in CG Secretariat, now settled permanently in Raipur, Chhattisgarh which is my hometown too. No more career change now 😂

Well done… yes after sometime it feels like enough is enough…
All the best in your public service