Technical Analysis

Thanks Friends... As per your wish, I will continue with the Technical Analysis tutorial I started on Equity Blog. Before I get on with that, I hope you guys are also aware of the one time blog on Credit Cards that I wrote for some very specific people who needed help. This blog is also finding some other readers.

One such friend recently asked a question which I am reproducing here;

'Hi Ethical trader,
I have read your credit card posts they are very informative .. many thanks for that.
Dear Friend can you please help me on this. 

I had taken a HDFC credit card in 2010 with a limit of 20000 used it for close to 1 year. i have always paid bills on time and never had any dues. But for 1 particular month i got a bill charging Rs 550 extra. i spoke to the call center and they said it was due to late payment and i never did any late payment. so i had paid off that months bill leaving this 550 and asked them to discontinue the card and told them that i would not pay 550. card was disabled in around april of 2011. They never sent any bill and card did not work. i thought the thing is closed. But last month when i went to bank for a credit card. They said i had a due of Rs 5000. I was shocked. When asked why was i not sent any bill..they didnt answer anything. They said they call the customer when the due is more than 6000 or so. I have a salary account and this credit card was tagged to it. Am afraid they would debit this amount from my account without any notice. What is the worst senario here. What can i do on this. Sorry for the long question .. but please take time to guide me on this. Many many thanks in advance'

The original post and comment can be found here.

First of all my apologies to the reader for late response but I will write a detailed reply soon. Stay tuned...