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  1. All credit cards are debt traps.
    All financial institutions charge heavy interest on the money you have availed from them as loan.They tell you that you can pay as little as 10 percent.. Do you know the rate interest they charge? from 24% upto 60% annual.

    They invite you to get the credit card free of charge.Once you get the card the real problem starts.There is huge interest for loan availed, there are hidden charges and humiliation by their muscle men.

    Getting a credit card and availing loan through it is just like entering the well of death.They have ruined hundreds of families. Be careful.

  2. Welcome to the World of ‘legally permitted” shylocking – get to know more intimately about the “Cannibal’s of the Number Game” !

  3. Look … it is often said that ‘what is easy may not be good’.
    This applies to credit cards too. It is easy but not good.

    Till things improve …. wide publicity for the abuses in cards are not made by the consumer groups in India along with people like you,
    and people use less and less credits from the cards .. they may not change their game plans.

    Some ides to be not in a ‘debt trap’.
    – this is not to be used as a regular credit usually sanctioned by banks
    – use the card to facilitate ‘payments system’ only
    – pay the amount well before the due date
    – earn points for using the card – but liquidate the bills forthwith.
    – if need any loan, approach the Bank(s) … the card is not the best alternative to a regular loan