Important news: Getting a credit card is right or wrong? know the answer here

In today's time, you will see that people save a lot for their tomorrow so that they do not face any financial problems in the future. On the other hand, if you see, then in the last few years, the trend of credit cards is very big and that too especially among the youth. When you open your salary account then you are offered a credit card. Apart from this, the bank also offers you a credit card according to your CIBIL score. If you are also a credit card user, then this question must have come into your mind whether getting a credit card is right or wrong. If yes, then let us know what the answer can be. You can learn about this in the next slides...

Understand credit cards first
The bank gives a credit card to its customers by setting a limit, after which the customer spends this money according to his need and returns the money spent every month to the bank according to the bill coming every month. In this, you can also make an EMI of a large amount, on which the bank charges interest.

Is credit Card True or False?
With a credit card, you spend money one month and then repay that money the next month. For example, if you have spent 5 thousand rupees in January, then you will have to return only 5 thousand rupees to the bank if you return this money together in February. But if you get the EMI of this money done, then the bank charges both interest and processing fees on it.

Many people get a credit card made as a hobby, but after that, they are not able to return the money. In such a situation, the bankers call them, message them and go to their homes to collect the dues from them. If we see from this point of view, then credit cards should not be made to those people, who do not have any account of money and whose expenses do not have any account. This is because when you do not pay the credit card bill, the bank will not only collect the dues from you but also your CIBIL will also reduce and you may have little chance of getting a loan in the future.

However, the flip side is that for many people a credit card is a great thing because they use it in the right way. They use it on need and pay bills on time. They don't have any problem with this. In such a situation, you have to decide whether the credit card will prove to be right or wrong for you and only then it should be made.

(PC: iStock)