Credit cards: Things to remember 

Certainly, credit cards are the way to go today, but wanton purchasing without paying heed to one's payment capacity can only lead to personal financial crisis. And it could be your very personal financial meltdown..

PEOPLE ARE no longer interested in carrying thick wads of currency notes in their pockets. A wallet with a few credit cards is enough to buy all that money could buy at any given time. So, if you are still among those who do not hold any credit card, it’s time that you filled in your credit card application or grab the very first credit card offer that comes your way.

But then, there are perils of shopping on credit. The greatest among them being the one that comes with unbridled spending, which could eventually get you into bad credit.

Certainly, credit cards are the way to go today, but wanton purchasing without paying heed to one’s payment capacity can only lead to personal financial crisis. And it could be your very personal financial meltdown.

So, before you forwards your credit card application, make sure that you have your buying urges reined in.

Another thing that you must keep in mind is the credit card company that has approached your for a credit card. There would be a number of credit card companies that would promise you everything, but the hidden conditions are what you need to watch out for. These conditions could at times be rather troublesome in the long run.

So, be careful while selecting a credit card and be doubly cautious while using it for making purchases.

Credit cards: The Indian perspective 

What needs to be borne in mind is that no matter how many credit cards you have, it is you who has to pay the bills at the end of the day. There are no free lunches. You pay for everything that you purchase or use..

INDIANS HAVE taken to credit cards and the associated lifestyle like fish to water. Indians have beens using credit cards for a long time now. However, there are few things that must be remembered by all of us while go making huge purchases with the plastic money.

Getting a credit card is as easy as it always was. All you need to do is respond well to a tele-caller trying her best to persuade you to file a credit card application with the company she works for. The rest is less than cakewalk.

Someone will come over with a form that you need to fill in, and you would get a credit card within a week or so.

However, what needs to be borne in mind all the while is that no matter how many credit cards you have, it is you who has to pay the bills at the end of the day. There are no free lunches. You pay for everything that you purchase or use. And there is no getting away from that.

All that a credit card does is to facilitate purchases and defer the payment for a while. Use credit cards for convenience and not to borrow. If you started using it for the latter purpose you might soon be looking down a bottomless pit of credit.