Using a credit card? Understand its pros and cons

• Follow

Credit cards are really helpful if used properly. But if credit cards are used carelessly, they can easily entrap you into the loan trap. Credit cards have the highest interest and penalty rates. Most personal loans carry an interest rate of 11 to 20%, while credit cards charge an interest ranging from 35% to 45%. Hence, it is advised by all investment advisors to pay the credit card bills on time.

But what if someone gets caught in the credit card loan trap? Here are some tips to get rid of these loans related to credit cards.

Watch the full video to know more…