There is great
disadvantage associated with credit cards that you spend lots of money by
becoming victim of easy EMI plans. While at first look such plans look very
attractive; therefore, lots of people got lured into buying extra on their
credit card. They only realize their blunder when they see the credit card
statement and don’t have enough money to payback. I have also become victim of
such attractive offers few times and learned lesson to remain away from
excessive spending on credit cards. I have seen many people who even take loans
to payback their credit card bills and for some it take years to payback their
credit card dues. In this whole situation, credit card companies are biggest
gainers because they make good money by applying high interest on your credit
card dues. It is better to learn from the experiences of others and save
ourselves from such traps.
