Everyone of us for sure would have experienced this …… in
a long queue, someone just walks through – overtakes priority and has his work
completed (could be a smalltime politician or actor or somebody whom thinks
himself to be important in the society – VIP culture)…….. they are everywhere –
at Airports, every VIP worth his salt will try to walk through a special gate –
have picked from the tarmac [they are important – they are above law !] ……… at
Toll booths, as vehicles wait impatiently, those vehicles with party flag would
claim that toll is not for them and they would not pay the amount ….. the user fees are for the common man who
should pay for the maintenance, not the VIPs
The oft
repeated Q is ‘ do you know who I am ’ – a clear threat trying to show off their
might ! – things mostly work and perpetrators go scot free.
When a new bank puts
up advts of its new Credit card, people are tempted to apply for one – and
there could be times when it is not approved. The reasons could be many –
though the Credit card company hardly reveals it. It could be that your loan balances are too
high. You may be enjoying high credit
limits but utilising only meagre percentage of that. You could have applied for
too many credit cards. May be your income level is low. – people may not
readily accept the reasons and would start blaming others.
Next thing you dine
in a restaurant or buy something – when it comes to payment – you flash your
credit card – sometimes the transaction is not approved due to a technical
glitch or the user having exceeded his limit ! – many would be carrying multiple
credit cards and hence would not see any issue …. But declinature, denial of
usage of a credit card would be seen as an insult – the user might call the
bank and shout at the top of voice – questioning how it could happen to him ?
United
States is far different – and what happened would never happen to any VIP – and
if something happens, the skies could fall crushing down. “I
went to a restaurant up in New York when I was — during the UN General
Assembly, and my credit card was rejected,” Obama said while signing an
executive order to protect consumers from identity theft. “It turned out I
guess I don’t use it enough. They were — they thought there was some fraud
going on. Fortunately, Michelle had hers.”…………. yes, it happened to the
President of United States.
Obama is quoted as
saying - “I was trying to explain to the waitress, you know, I really think
that I’ve been paying my bills,” Obama said. “Even I’m affected by this.” Obama
has been concerned about the state of his credit before. In Austin in July, he
ordered more than $300 worth of barbecue and realized he didn’t have enough
cash. So he pulled out his credit card but asked trip director Marvin Nicholson
if it was good before handing it over to the cashier. Nicholson assured Obama
that the card — photos show it as a black JP Morgan card — would work, and
apparently it did.
Obama isn’t the only
high-profile government figure to run into financial rejection. Former Federal
Reserve chairman Ben Bernanke said in Chicago this month that the market is so
tight he couldn’t refinance his home.
A
declined transaction of the President gets a passing reference and not any
din. The president signed an executive order which
adds "chip-and-pin" protection for US government cards and payment
terminals, at a time when the financial industry is moving in the same
direction.
With regards – S.
Sampathkumar
22nd Oct
2014.
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