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Agree, one hundred percent. If the way housing loans work in India is a pointer, you will see a lot of scrutiny in the way the credit cards would be managed. I
by npguy 14y ago
Agree, one hundred percent.
If the way housing loans work in India is a pointer, you will see a lot of scrutiny in the way the credit cards would be managed. Indian banks are decidedly conservative.
- RationalPi 14y agoNot really. It is much easier to obtain credit cards than bank loans in India. Infact banks constantly call the people offering credit cards (to the point where people become irritated). To get housing loans, you have to provide significant collateral. Net, consumerism and debt load is going to screw the largest middle class base...
- npguy 14y agoThat perception is wrong, before they issue the card, they request income proofs, do residence verification etc. Moreover, if payment is not made, there is a follow-up process that will put village moneylenders to shame. Credit limits are also set in a very conservative manner.
- train_robber 14y agoYou are talking about the scene 3 or 4 years back. There is a significant amount of background checks before credit cards are issued especially if you are not employed in a big brand IT company.