With the pandemic leaving many people unemployed and stuck at home, the financial situation got worse and worse for many families; in fact, the whole world suffered a great economical downfall as people had to pause their usual work life due to the lockdowns applied for their protection. In addition to that, with online platforms being the only way to get the necessities from outside for many, dealing with credit cards became a norm very quickly.
However, what followed such a norm was the influx of online scams, making the families suffer even more as they still were not used to dealing with online banking or their credit cards. To counter this, the government as well as many banks registered official websites and face-to-face counselling sessions regarding credit and debit cards.
What is a credit counselling session?
A credit counselling session is essentially a financial advisor or bank employee, allotted by the bank, assessing one’s financial situation and suggesting appropriate personalized loans as per the financial needs of the person. These sessions are usually one-on-one where the financial advisor discusses the plans for the future in detail.
These plans include the reason for the loan, its application or investment and how much the individual’s salary is. Based on this, an approximate report is made that would estimate how long one would need to repay a loan and how much amount is needed for the purpose they seek a loan for.
Essentially, it is a counselling session for one’s financial decisions in regards to a loan they are seeking through their bank and credit cards. These sessions teach one how to use both credit and debit cards, their differences and what one should not do to avoid scams online as well as in physical mode.
Conclusion
In the end, it is not uncommon to be not familiar with bank procedures; however, not being aware of such things can lead to one being fooled by the scammers and losing all their money to them. Thus, one should be aware of these as well as seek such counselling from their bank or any other official authority if they wish to learn more about it.
