Is Bank Credit cards a boon or bane?Members,
We have both Credit cards and Debit cards issued by banks. While we use Debit cards for our own money, we use Credit cards for Bank's money. With the credit cards, we need not beg for money when we need it. It helps us to meet our urgent requirement. It is like getting paperless easy loan from the banks through ATM.
But it pains us to repay the loan. We need to be punctual in repaying the dues. Even a single day delay would cost us heavily. Late payments are charged with fine and GST. Ultimately the cardholder incurs financial loss and suffers.
What is your experience with Credit Cards? Is it a boon or bane to us?