đź’ł Story + Lessons
I still remember the day I got my first credit card. The shiny envelope made me feel like a VIP. No one told me that this piece of plastic could slowly drain my peace of mind.
I was 22, just started working, and had a decent salary. So, why not enjoy a few luxuries, right? I bought a new phone, some clothes, and even booked a weekend trip—all on my new card. EMI felt easy. No big deal… until the bill arrived.
Here’s where I went wrong—and what you should avoid:
⚠️ 1. Only Paying Minimum Balance
I thought, “Why pay ₹10,000 when I can pay ₹1,000?”
Truth: That’s how the trap begins. Interest started piling up. My ₹10,000 became ₹14,000 in 3 months.
đź’ˇ Lesson: Always pay your full bill. Minimum payment = maximum interest.
⚠️ 2. Using Multiple Cards Without Tracking
I applied for a second card just for offers. Then a third. I was juggling cards and losing track of payments.
💡 Lesson: Keep one or two cards. Don’t let offers fool you into a debt spiral.
⚠️ 3. Ignoring Statement Details
I never checked my bill breakdown. Once, I was charged twice by a merchant. I noticed it after 3 months.
đź’ˇ Lesson: Always review your statement. Mistakes happen. Spot them early.
⚠️ 4. Falling for Reward Points
I spent more just to earn points. A â‚ą500 reward cost me â‚ą5,000 in unwanted purchases.
💡 Lesson: Don’t chase rewards. Save cash, not points.
⚠️ 5. Delaying Payments
Once, I missed a payment by 1 day. That “small miss” cost me ₹600 in late fees + interest.
đź’ˇ Lesson: Set auto-pay or reminders. Even 1 missed payment hurts your credit score.
🎯 Final Words:
Today, I use my credit card smartly—like a tool, not a trap. I pay full dues, track spending, and treat my card like a debit card.
If you’re just starting out, learn from my mistakes. Don’t let short-term pleasures steal your long-term peace.
