Credit cards and responsible borrowing
Use revolving credit safely by understanding billing cycles, interest, fees and credit utilisation.
A credit card is a short-term payment facility, not free income. Pay the full statement balance by the due date where possible, understand the annual percentage rate and late fees, and avoid cash advances unless you understand the cost. Keep utilisation manageable, monitor statements and report unauthorised transactions quickly. A personal loan or balance transfer should be compared on total cost, not only the monthly payment.
Eligibility
Card issuers and lenders apply their own eligibility, limit, fee and underwriting rules. Review the agreement and current RBI directions.
Potential benefits
Disciplined use can provide convenience and a transparent payment record; missed payments can increase cost and harm the credit profile.
How to apply
Compare the key-fact statement and schedule of charges, set due-date alerts or autopay, use secure channels and contact the issuer promptly about errors or fraud.