If a credit card is used correctly, it is very beneficial, but for some people, it can also cause huge losses. Today we will talk about some such categories of people who should stay away from credit cards. If you fall into any of these categories, then you should avoid taking a credit card, otherwise you may suffer huge losses.

1- Those who do not have control over their spending habit
If you shop without thinking or buy something or the other repeatedly, then a credit card can trap you in a debt trap. You may develop a habit of taking new cards repeatedly when the limit is over. In such a situation, the interest will keep increasing, which can make it difficult to repay the loan.

2- Those who cannot pay the bill on time
If you do not pay your EMI, loan, or mobile bill on time, then you can also miss the credit card bill. You may have to pay late fees and high interest rates every month. Not only this, your CIBIL score can also deteriorate, which will make it difficult to take a loan in the future.

3- Those who already have a lot of debt
If you already have a home loan, personal loan, or other liabilities, then the expenses from the credit card can increase further. In such a situation, you may have trouble paying the EMI of the existing loan. Taking more debt can worsen your financial condition.

4- Those who think of making only minimum payment
If you think that you can run a credit card by making only a minimum payment, then this can be your biggest mistake. This is because interest will keep on adding on the outstanding amount, due to which the debt will increase manifold. Let us tell you that if you do this, then the outstanding of only ₹ 10,000 can reach ₹ 15,000 in 6 months.

5- Those who do not have a stable income
If your job or income is not stable and you do not get a fixed income every month, then you should avoid taking a credit card. If you are not able to pay the bill on time, the debt will increase. In this way, you can get stuck in a financial crisis, which will affect plans.

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