I personally feel one should not use a credit card. Its a trap/temptation. You end-up buying things which are not necessary and a huge bill. If you dont have the money to pay, you pay the minimum charges. For example if you have an outstanding amount of Rs.10,000. Minimum would be 5%. That is 500. The balance is charged interest in your next bill. That will be 9500 x 2.95% = 280.25. So your next bill will be 9780.25. Again if you pay the minimum bill, that is Rs.489.01 your balance will be 9291.23. Again you are charged 2.95% and again you pay the minimum. this goes on and on and on.
