Card Default May Block Credit Avenues

Credit card defaulters could now find it impossible to get a home loan, a personal loan or even a mobile connection.

MasterCard International is in the process of tying up with even non-credit card issuing banks, non-banking finance companies (NBFCs) and mobile operators to share its database on credit card defaulters.

Around 25 MasterCard-member banks had initiated the negative file project in 1999, which involved setting up of a combined database of delinquent cardholders pooled in by member banks.

Says MasterCard International