Credit Card Debt Can Lead to Bankruptcy
With inflation reaching double figure everything has become so costly, most of the income is going in buying things for daily needs. Most of the banks have already hiked lending rates and others will be following soon. Hence most of us especially owning credit cards must be thinking of putting aside the payments for later without realizing that we are getting into credit card debt. Due to this most of us will end up paying a tremendous amount in interest just to obtain the item or service now. In India banks charge 3.15% interest rate on credit cards. On some cards bank offer low interest rate as introductory offer but one thing we should know that this interest rate is coupled with the fact that default or late fee will shoot up the interest rate. ...
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