I was sitting and pondering over the last couple of days in this month.Had an awesome time but apparently my credit card got the heat of it cuz i used it quite generously.
Nevertheless when i was thinking about it, i was actually anticipating how many digits would the bill amount be, a funny possibility stuck me.
In this age of E-WORLD, where contacts and conversations happen thru E-mails..Match Making happens thru E-matrimony..Bills are received thru E-bills etc etc..Similarly payment is also made thru credit card..people are becoming too reckless about carrying cash..Carrying a credit card seems safer than carrying quite a load of money when u decide to do some expensive shopping.
To get closer to the point,everybody who is working, would know that one of the most irritating calls you get is from these private banks asking if we would like a credit card.And the best(or worst) part is the fact that these ppl are not bothered in the list about the number of credit cards we have.Just one card is enough for them to gain sufficient trust and offer us one of their own.
Well even though most of the payments could and are made by credit cards there’s been one type of payment that cannot be done with a credit card.
Its the payment of a bill of ANOTHER credit card.
If that was possible there probably would’ve been a even worse recession that would’ve been going on. Cuz its more of this “virtual money” which gets locked.
To explain it in better words, lets consider there are 4 banks.Bank 1-Bank 4.And a person say Mr X has credit card of all the 4..
He uses Bank-1 to shop..Later he uses Bank-2 to pay the bill of Bank-1..The next month depending on the credit balance he can use Bank-1 to pay Bank-2..This is a permutation of 2.Put in Bank-3 and Bank-4 in the equation and it can basically be use to lock down quite an amount of cash which is of course virtual and would probably lead to worse recession.
The cyclic complexity would increase depending on the number of credit cards you can get and none of them would be blacklisted and you would be a regular customer for all of em which in turn increases your relationship with the bank.
Guess things W.R.T recession would probably have been worse than it already is, if credit cards indeed takes over every possible mode of payment..

P.S — Kinda feels out of touch.Writing a post after a long time..