CREDIT CARDS ARE A DISASTER! #shorts

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[dimitrz]

Credit cards are not disaster, people need to use it wisely.

[abhishekboga]

If you know how to manage your money then a credit card is the best option to make optimum utilization.. and there are numerous benefits if you keep you CC status healthy

[varunnayyar]

I am working in fintech domain in credit risk modeling. Have to agree with what Mr. Warikoo said. Having multiple credit cards generates poor credit history and even scores if you default in even any. More credit cards you acquire, more difficult is it for you too get loans because most banks only allow max 2 active CCs.
Whereas if you make a credit card payment within 30 days of payment date of a month then it reflects greatly in your credit history(CIBIL). This makes for higher chance of loan offers and also quicker disbursal(cc dispatch) sometimes(totally depends on banks but still)

[omkarmote]

I took wrost loan ever. I took money from my wife and now I had pay the intrest 4 time and still I am in a loan 😅😅

[bookofeverything]

1.Bhai mere.... If u have money and someone gives u credit without interest for 50 days, would you not rather invest that money...
2. If u can afford a thing but u r cash strapped as for now, why not buy on emi...
They make financial sense

[dhruv]

I m using credit card from last 2 years

1st ) i have never paid any sort of interest
2nd) never delayed payment and never converted to emi transaction

3rd) got 6 domestic flight tickets in sort of reward points


It purely depends on person how to use it.

[martin]

Agree, CC can be a financial death spiral for many people. For people who use their cards for normal purchases and pay off in full each month they can be absolutely great! I recently booked a 5 night hotel stay at a category 8 hotel for 17k points per night. Cash it would have been $479 per night. In total due to resort fees the points used came to 92k. Had I payed cash it would have been $2, 400! It was a vacation I was going to take anyways so I essentially saved $2400. I earn about 100k points every year so every year CC allow me to take a free vacation minus airfare.

[siddhantgupta]

Fact 101 : Credit cards are not a disaster, it's the mindset of the user that's disastrous which cannot bind to financial responsibility.

[okakatha]

They come in handy when you have to make an emergency payment..

[shikhildhingra]

Simple rule is pay something out of credit card only if you can pay the similar amount from your debit card…
If u can good pay you will get lots of rewards..if you cant pay amt from debit card then dont pay else it will be a problem later on to repay

[Paragbandewar]

First month of credit card spending = 10 percent
Second month = 20 percent
.... After an year = You use 100 percent of the limit and then we just pay our complete salary to the credit card on salary day... LOL

So get out of this virtual credit as soon as you can.
Hard Truth..!!

[MoMinuLTrad]

When You Feel Like Quitting Think About Why You Started.

[samanthalambert]

U just scared the crap outta me 😭 now I’m rethinking about getting one

[track]

Credit card are definitely not a disaster, people need to use it properly.

[MoMinuLTrad]

I May Not Be There Yet, But I’m Loser Than I Was Yesterday.

[improvementdays]

My total outstanding balance is not reducing in SBI credit card while I make payments every month it is a SCAM.

[Fai-MA]

If used wisely, you will enjoy the benefits 😊

[sherlockholmes-]

Credit cards are not for people weak at elementary mathematics and banking/finance. They're awesome and will save you a significant amount.

[onidoremc]

They mostly make rich people richer and middle class poorer

[prasad]

If you have credit card only use it when you can payback full amount in once that's how you get benifits from credit card if you can't pay full amount and it's big amount then think before buying