New to Credit Card? Key questions answered
Updated: 29 Dec 2021, 08:43 AM IST
TL;DR.Credit card usage can be a messy business if you are not accustomed to paying bills on time. Read this piece to know how credit card (s) can improve or deteriorate your financial situation depending on how you use it. We elucidate the benefits of a credit card and elaborate on the ideal number of cards one may subscribe to. We give the lowdown on credit limit of a card, benefits of clearing the dues on time, avoidance of ballooning of interest rates by not counting on minimum payment, and much more.
If your monthly income exceeds your monthly expenses by at least 30-40 percent then you can take a credit card.