Credit Cards: A Financial Tool or Debt Trap?

Credit cards can be helpful financial tools or lead to debt, depending on how they are used.

According to Chartered Accountant Nitin Kaushik, it's smart to use them as a financial tool instead of a way to feel rich.

Avoid spending more than you can afford and try to use the interest-free period to your advantage.

Always pay the full amount to avoid high-interest charges.

Credit card rewards can offer savings.

However, in the wrong hands, credit cards can lead to a cycle of debt.