For these 6 people, a credit card is not a relief, but a problem…will trap you in debt and also ruin your CIBIL score.

Credit cards is very useful for those who know how to use it properly. When you have a financial problem, you can easily arrange money through credit card and repay it without any interest in the grace period. Apart from this, you can also take advantage of various offers, discounts, reward points etc. through credit card. But for some people, credit card is not a relief, but a problem. It can entangle them in debt and ruin their CIBIL score. If you also fall in this list, then it is better not to take a credit card, otherwise you will increase problems for yourself.

There are some people who do all kinds of shopping just after seeing an offer or discount. Before spending, they do not think that this will spoil their entire budget and financial challenges will increase. If you also have a habit of spending without thinking, or have a habit of spending more than your income, then do not take a credit card. If you want to take it, then first get rid of this habit. If you are not able to pay the credit card dues in the grace period, then a huge interest will be charged. This will not only increase the burden of debt, but if not paid, the CIBIL score will also deteriorate.

If you do not have a stable income, then it may be difficult to pay the credit card bill on time. In such a situation, you can get entangled in the debt trap. Such people should use credit card with backup.

People who already have the burden of many loans like home loan, car loan, personal loan, etc., should avoid increasing the burden of loan through credit card. Expenses can increase further due to credit card. In such a situation, you may have difficulty in paying the EMI of the existing loan. Taking more loan can worsen your financial condition.

If you think about paying the minimum due of credit card, then it would be better that you do not use the credit card at all. Due to this mistake, interest will keep on accruing on the outstanding amount and the debt will increase manifold. After this, you will be burdened with debt.

Discipline is very important for credit card. If you do not remember due dates, spend excessively but do not keep track of them or do not follow a budget, then do not use credit card, this is good for you.

Some people first increase the burden of debt, then keep paying bills of one card from another or take personal loan. This habit traps you in the web of debt, and also increases the risk of CIBIL getting affected if you are unable to repay the loan. Such people should not use credit card. If they have a credit card, then they should close it.