First thing people should ask themselves that why use credit cards
a) Is it the convenience?
b) Is it the liquidity crunch?
c) Is it just for the sake of earning minuscule credit card points?
d) Is it turning blind eye or reluctance to use Debit card ?
f) Is it the related benefits related to airport lounge benefits, other discounts & the cash back?
h) Is it to simply enjoy unlimited shopping without having bank balance in your account?
IF You are using credit card just for the sake of all the things stated above , for unlimited shopping or because of the poor bank balance then you should stop using credit card immediately.
One should always put limit or cap to their credit cards & should always try their best to not exceed limit. It’s always better to keep a cap of maximum Rs 75000.
If you limit the use of credit card as per the consistent availability of the liquidity in your bank account, then I must say you will enjoy the flexibility of using credit card.
Use it wisely and Use it to your advantage.
Don’t fall prey and be indebted forever.
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