Credit Card Usage, Credit Card Debt and the Debt Trap in India: A Complete Guide for Financial Well-Being
The Growing Credit Card Culture in India Over the past decade, credit card usage in India has increased significantly due to digital payments, e-commerce growth, and lifestyle spending. Banks issue multiple cards to the same individual, often offering pre-approved limits without proper financial assessment. While this improves purchasing power, it also encourages overspending. For many people, credit cards slowly replace savings. Instead of using cards as short-term payment tools, they begin to act as long-term borrowing instruments. This is where financial trouble begins.
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