Be careful about using your credit card or you might end up with a hefty bill which could lead to a debt trap You may be tempted to use your credit card in case you are facing a cash crunch in the wake of covid-19.
Though credit cards can provide quick access to funds in case of an emergency, if not used carefully, they can also land you in a debt spiral.
Here are five things to steer clear off when using them. Taking moratorium If you have opted for the three-month moratorium provided by the Reserve Bank of India (till June-end) for your credit card bills, then you are not required to pay the minimum due amount or a late fee.