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Credit and debit cards, often referred to as plastic money, have revolutionised the shopping experience, making it incredibly easy and convenient. Credit cards, in particular, allow consumers to purchase their favourite items instantly, even without sufficient funds in their accounts. However, this convenience comes with potential financial pitfalls. If not managed properly, credit cards can become a financial burden. Understanding these risks can help individuals avoid such traps.

One of the primary dangers of credit cards is the high interest rates.

Consider the case of Rahul, who borrowed Rs 10,000 with the intention of repaying it the following month. However, with interest rates ranging between 18-36%, his debt ballooned to Rs 15,000 within six months, trapp

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