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Credit Card Problems: As credit card usage has increased, people are facing numerous issues related to billing, charges, and security. This is why complaints are also on the rise.

Credit Card Problems: Over the past few years, the number of credit card users has increased significantly. Credit card usage has grown even faster. People are swiping cards for every purchase, big or small. They use them for cashbacks, reward points, and EMIs. Therefore, credit cards are now being used extensively for everyday expenses. However, as usage has increased, complaints have also increased at an equally rapid pace.

People are sometimes troubled by incorrect billing, sometimes by stolen cards, and sometimes by unwanted charges from banks. This raises the question of where the problems are originating and how they are directly affecting cardholders. Let us explain the full details.

Billing and Charge Issues

Many users report seeing charges on their statements that they weren't previously informed about. Many banks now quietly add annual fees, over-limit charges, and processing fees to their cards. People only realise this when the bill arrives, and the amount appears higher. Furthermore, late fees are often applied despite timely payments because the transaction is delayed in posting. All of this leads to customer dissatisfaction and complaints.

Fraud Cases Are On the Rise

With the rise of digital payments using credit cards, card fraud has also risen rapidly. Many people report that transactions are made using their cards without an OTP or without a swipe. Scammers harvest card details through phishing links and then immediately withdraw the funds. Banks do offer security features.

However, users are often left wondering how the money was deducted when the card was in their possession. Another problem is that it takes time to receive a refund after filing a complaint, and sometimes the bank closes the case, assuming the customer's fault. This is why these complaints are increasing, and people are becoming increasingly afraid.

Charges continue to accrue even after being blocked.

Many times, people block their credit cards, but charges continue to accrue. However, many people are unaware that blocking a credit card doesn't remove it from the system; instead, its use stops. This means that if you had an EMI payment, the charges will continue to accrue. If you didn't make any payments, the penalties will continue to accrue. Therefore, it's important to close the card, not just block it.