Theoretical explanation : A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. In other words, credit cards combine payment services with extensions of credit. Complex fee structures in the credit card industry may limit customers' ability to comparison shop, helping to ensure that the industry is not price-competitive and helping to maximize industry profits. Due to concerns about this, many legislatures have regulated credit card fees.

A credit card is different from a charge card, which requires the balance to be repaid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged. A credit card also differs from a cash card, which can be used like currency by the owner of the card. A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date.

What is my opinion & what i want to say is that :

Actually credit cards are great. Because it will help you lead a better life in case of financial security. That's what i am trying to say that : A credit card can give you 0% interest rate loan amount for around 50 Days [ That's depends on the banks policy ] .

For example : if a card can give you monthly transaction of ₹50000 ,  Now you can say a " Woooo", Because there you get a free money for 50 days. Thats except your savings . Now you have ₹50000 in your account and extra ₹50000 in your hand [ I hope you already have a savings account with a base amount ] . You can now use this money wisely to different parts . You can put this on share stocks , save some where else , make some profit with it . and you can finally return that money to your bank , where you will feel always benefited.  Now you have double benefits for your entire financial freedom.

Amount Return Period : 30 Days | Extra Repayment 20 Days [ Total 50 Days ]

So use your credit card and get the extra money . Use it wisely .

Drawbacks :

Where Banks get benefited :

In case if you couldn't return the payment in time , they will issue you an interest rate of 36% to 40% based on the loan amount. That would be an disaster for your entire financial safety.

What to do , if you are an already trapped person in CC Trap :

Go and get a Loan from your nearest bank for 18% or 20% interest rate . Please close the credit card amount. And be safe. Because 18% will the twisely down your interest rate based on credit card fail interest rate.

Hope you find the article helpful for you .

Thanks for reading.