MutualSaathiLoans & CreditWhy is revolving credit card debt the worst financial mistake?
Credit
Credit

Why is revolving credit card debt the worst financial mistake?

Effective interest rate of 36-48% annually. Paying only the minimum due means you will never get out. Rs1 lakh revolving debt becomes Rs3+ lakh in 5 years. Always pay the full statement balance. If you cannot, you are spending beyond your means — cut expenses before investing.

Loans & Credit

Search Funds