{"id":213,"date":"2026-01-28T12:49:40","date_gmt":"2026-01-28T07:19:40","guid":{"rendered":"https:\/\/prodigypro.co.in\/blog\/?p=213"},"modified":"2026-01-28T13:02:34","modified_gmt":"2026-01-28T07:32:34","slug":"top-mistakes-people-make-with-credit-cards","status":"publish","type":"post","link":"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/","title":{"rendered":"Top Mistakes People Make with Credit Cards in India &#8211; And How to Avoid Them"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/prodigypro.co.in\/blog\/wp-content\/uploads\/2026\/01\/Credit-Card-Mistakes-in-India-1024x576.webp\" alt=\"Credit Cards\" class=\"wp-image-221\" srcset=\"https:\/\/prodigypro.co.in\/blog\/wp-content\/uploads\/2026\/01\/Credit-Card-Mistakes-in-India-1024x576.webp 1024w, https:\/\/prodigypro.co.in\/blog\/wp-content\/uploads\/2026\/01\/Credit-Card-Mistakes-in-India-300x169.webp 300w, https:\/\/prodigypro.co.in\/blog\/wp-content\/uploads\/2026\/01\/Credit-Card-Mistakes-in-India-768x432.webp 768w, https:\/\/prodigypro.co.in\/blog\/wp-content\/uploads\/2026\/01\/Credit-Card-Mistakes-in-India-1536x864.webp 1536w, https:\/\/prodigypro.co.in\/blog\/wp-content\/uploads\/2026\/01\/Credit-Card-Mistakes-in-India-2048x1152.webp 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#Top_Mistakes_People_Make_with_Credit_Cards\" >Top Mistakes People Make with Credit Cards<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#1_Overspending_Without_Budgeting\" >1. Overspending Without Budgeting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#2_Paying_Only_the_Minimum_Amount_Due\" >2. Paying Only the Minimum Amount Due<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#3_Missing_Due_Dates_and_Incurring_Late_Payment_Penalties\" >3. Missing Due Dates and Incurring Late Payment Penalties<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#4_Ignoring_the_Impact_on_Credit_Score\" >4. Ignoring the Impact on Credit Score<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#5_Falling_into_the_Debt_Trap_via_Multiple_Cards\" >5. Falling into the Debt Trap via Multiple Cards<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#6_Misunderstanding_Credit_Card_Rewards\" >6. Misunderstanding Credit Card Rewards<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#7_Using_Credit_Cards_for_Cash_Withdrawals\" >7. Using Credit Cards for Cash Withdrawals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#8_Not_Reviewing_Monthly_Statements\" >8. Not Reviewing Monthly Statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#9_Applying_for_Cards_Without_Comparison\" >9. Applying for Cards Without Comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#10_Closing_Old_Credit_Cards_Prematurely\" >10. Closing Old Credit Cards Prematurely<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#What_is_the_biggest_mistake_Indians_make_with_credit_cards\" >What is the biggest mistake Indians make with credit cards?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#How_can_missing_a_credit_card_payment_affect_my_credit_score_in_India\" >How can missing a credit card payment affect my credit score in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#Is_it_bad_to_have_multiple_credit_cards_in_India\" >Is it bad to have multiple credit cards in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#How_do_I_use_a_credit_card_smartly_in_India\" >How do I use a credit card smartly in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/prodigypro.co.in\/blog\/top-mistakes-people-make-with-credit-cards\/#Can_closing_an_old_credit_card_hurt_my_credit_score\" >Can closing an old credit card hurt my credit score?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Top_Mistakes_People_Make_with_Credit_Cards\"><\/span>Top Mistakes People Make with Credit Cards<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When talking about financial tools, credit cards come up as one of the most powerful ones, when used responsibly, providing convenience, rewards, and even emergency liquidity. However, in India, many people fall into common traps that may lead to financial stress and long-term credit issues. Understanding these <strong>credit card mistakes<\/strong> is important so as to maintain financial health and make sure that this convenient tool does not become a liability. In this article, we will discuss the top credit card mistakes people make in the Indian context and how you can avoid falling into the <strong>debt trap<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Overspending_Without_Budgeting\"><\/span><strong>1. Overspending Without Budgeting<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the most common <strong>credit card mistakes<\/strong> in India is overspending. The availability and seamless use of easy credit often tempt users to go beyond their monthly budget. Many cardholders consider the credit limit as an extension of their income, and they don\u2019t realize that they will eventually have to repay it, often with <strong>high-interest debt<\/strong>.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: One should have a strict monthly budget and use their credit card only for planned purchases. Always make sure to link your credit card expenses to a budgeting app to track spending in real time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Paying_Only_the_Minimum_Amount_Due\"><\/span><strong>2. Paying Only the Minimum Amount Due<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Credit card companies in India offer the option to pay a &#8220;minimum amount due&#8221; to keep your account in good standing. However, paying just this amount can also lead to a financial<strong> trap<\/strong>. The remaining balance starts collecting high<strong>-interest debt<\/strong>, often at rates of 36-48% per annum.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Always pay the full outstanding balance whenever possible. If you can\u2019t pay in full, pay more than the minimum due and work on clearing the balance quickly to so as to avoid compounding interest.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Missing_Due_Dates_and_Incurring_Late_Payment_Penalties\"><\/span><strong>3. Missing Due Dates and Incurring Late Payment Penalties<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Missing even one payment due date can lead to <strong>late payment penalties<\/strong>, interest charges, and even a <strong>credit score damage<\/strong>. In India, a delay can cost you anywhere from \u20b9100 to \u20b91,200 in penalties, depending on the card issuer, along with interest and tax.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Set reminders or automate your payments through standing instructions or ECS mandates. Many Indian banks offer apps that notify users ahead of their payment due dates \u2014 make use of them.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Ignoring_the_Impact_on_Credit_Score\"><\/span><strong>4. Ignoring the Impact on Credit Score<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In a country like India, the investors are often not aware of the importance of their <strong>credit score<\/strong>. The mismanagement of the credit cards \u2014 because of late payments, high credit utilization, or frequent loan applications \u2014 can often lead to <strong>credit score damage<\/strong>, making it challenging to get through future loans or get good interest rates.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Make sure to use less than 30% of your credit limit, always make payments on time, and review your credit report regularly. Agencies such as CIBIL, Experian, and CRIF provide credit reports \u2014 often for free once a year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Falling_into_the_Debt_Trap_via_Multiple_Cards\"><\/span><strong>5. Falling into the Debt Trap via Multiple Cards<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>With growing income levels and aggressive marketing by banks, many Indians end up owning multiple credit cards. Without proper management, this can spiral into a <strong>debt trap<\/strong>. Juggling several due dates and balances increases the chances of errors and missed payments.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Consolidate your debt if you already have multiple cards. Prioritize paying off cards with the highest interest rates first. Avoid applying for new cards unless you have a specific, justified need.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Misunderstanding_Credit_Card_Rewards\"><\/span><strong>6. Misunderstanding Credit Card Rewards<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Credit card rewards<\/strong> programs in India act as an attraction for its users, but understanding them is a quite challenging task, with fine print which includes expiry dates, exclusions, and caps. Many people might not make good use of the cards or spend unnecessarily merely to earn rewards, and realize later that the points were not worth the extra spending.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Read the terms and conditions carefully. Focus on <strong>smart credit usage<\/strong> \u2014 use rewards as a bonus for responsible spending, not a reason to increase your expenditures.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_Using_Credit_Cards_for_Cash_Withdrawals\"><\/span><strong>7. Using Credit Cards for Cash Withdrawals<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the major and expensive <strong>credit card mistakes<\/strong> is making use of it for cash withdrawals at ATMs. Unlike purchases, which come with an actual grace period, cash advances attract immediate and high interest and a withdrawal fee of up to 3.5% of the amount, including GST.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Make use of credit cards only for purchases. Keep an emergency fund or use a low-interest personal loan if you\u2019re in urgent need of cash.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Not_Reviewing_Monthly_Statements\"><\/span><strong>8. Not Reviewing Monthly Statements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many users often ignore their monthly credit card statements, overlooking the errors, fraud, or unauthorized charges. In India, because of digitalization fraudulent transactions are rising, and it\u2019s important to catch them early.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Always make it a habit to check your statement every month. Report discrepancies immediately if you observe one. This also helps you become more mindful of your spending patterns.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"9_Applying_for_Cards_Without_Comparison\"><\/span><strong>9. Applying for Cards Without Comparison<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A very common <strong>credit card mistake<\/strong> in India is signing up for the first credit card offered, often through a persuasive sales executive. Not all cards are created equal, with the same facilities and offers \u2014 some come with higher fees or fewer rewards relevant to your spending habits.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Use aggregator websites like Paisabazaar, BankBazaar, or the card issuers&#8217; websites to compare interest rates, annual fees, and <strong>credit card rewards<\/strong> before applying.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10_Closing_Old_Credit_Cards_Prematurely\"><\/span><strong>10. Closing Old Credit Cards Prematurely<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many people close old or unused cards, not realising that this can negatively affect their <strong>credit score<\/strong>. The age of your credit history plays a role in determining your score \u2014 the longer, the better.<\/p>\n\n\n\n<p><strong>How to Avoid It<\/strong>: Keep old credit cards open, especially those with no annual fees. Use them occasionally to keep them active and positively influence your credit profile.<\/p>\n\n\n\n<p><strong>Also check &#8211; <a href=\"https:\/\/prodigypro.co.in\/blog\/the-dark-side-of-mutual-funds\/\">The Dark Side of Mutual Funds<\/a><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>In the growing financial landscape of India, credit cards can be valuable or a dangerous adversary. Avoiding some major <strong>credit card mistakes<\/strong> is important for <strong>smart credit usage<\/strong>. By managing your credit responsibly and tracking it carefully, paying on time, and knowing the nuances of your card, one can avoid <strong>high-interest debt<\/strong>, and even minimise <strong>credit score damage<\/strong>, and enjoy the benefits of <strong>credit card rewards<\/strong> without getting caught up in the <strong>debt trap<\/strong>.<\/p>\n\n\n\n<p>Please share your thoughts on this post by leaving a reply in the comments section. Contact us via Phone, WhatsApp, or Email to learn more about mutual funds, or visit our website, <a href=\"https:\/\/prodigypro.co.in\/\"><strong>Prodigy Pro<\/strong><\/a>. Alternatively, you can download the <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.bfc_mf.prodigy_app\" target=\"_blank\" rel=\"noopener\"><strong>Prodigy Pro app<\/strong><\/a> to start investing today!<\/p>\n\n\n<div ><style>#sp-ea-212 .spcollapsing { height: 0; overflow: hidden; transition-property: height;transition-duration: 300ms;}#sp-ea-212.sp-easy-accordion>.sp-ea-single {margin-bottom: 10px; border: 1px solid #e2e2e2; }#sp-ea-212.sp-easy-accordion>.sp-ea-single>.ea-header a {color: #ffffff;}#sp-ea-212.sp-easy-accordion>.sp-ea-single>.sp-collapse>.ea-body {background: #fff; color: #444;}#sp-ea-212.sp-easy-accordion>.sp-ea-single {background: #7c8cff;}#sp-ea-212.sp-easy-accordion>.sp-ea-single>.ea-header a .ea-expand-icon { float: left; color: #444;font-size: 16px;}<\/style><div id=\"sp_easy_accordion-1769168446\"><div id=\"sp-ea-212\" class=\"sp-ea-one sp-easy-accordion\" data-ea-active=\"ea-click\" data-ea-mode=\"vertical\" data-preloader=\"\" data-scroll-active-item=\"\" data-offset-to-scroll=\"0\"><div class=\"ea-card ea-expand sp-ea-single\"><h3 class=\"ea-header\"><span class=\"ez-toc-section\" id=\"What_is_the_biggest_mistake_Indians_make_with_credit_cards\"><\/span><a class=\"collapsed\" id=\"ea-header-2120\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse2120\" aria-controls=\"collapse2120\" href=\"#\" aria-expanded=\"true\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-minus\"><\/i> What is the biggest mistake Indians make with credit cards?<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3><div class=\"sp-collapse spcollapse collapsed show\" id=\"collapse2120\" data-parent=\"#sp-ea-212\" role=\"region\" aria-labelledby=\"ea-header-2120\"> <div class=\"ea-body\"><p><span style=\"font-weight: 400\">The most common mistake made by Indians is paying only the minimum amount due on the credit card, which lies in accumulating <\/span><b>high interest debt<\/b><span style=\"font-weight: 400\"> over time period.<\/span><\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><span class=\"ez-toc-section\" id=\"How_can_missing_a_credit_card_payment_affect_my_credit_score_in_India\"><\/span><a class=\"collapsed\" id=\"ea-header-2121\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse2121\" aria-controls=\"collapse2121\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> How can missing a credit card payment affect my credit score in India?<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3><div class=\"sp-collapse spcollapse \" id=\"collapse2121\" data-parent=\"#sp-ea-212\" role=\"region\" aria-labelledby=\"ea-header-2121\"> <div class=\"ea-body\"><p><span style=\"font-weight: 400\">\u00a0Missing a payment results in late<\/span><b> payment penalties<\/b><span style=\"font-weight: 400\"> and is reported to credit bureaus, leading to <\/span><b>credit score damage<\/b><span style=\"font-weight: 400\"> that can show a major impact on future loan eligibility.<\/span><\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><span class=\"ez-toc-section\" id=\"Is_it_bad_to_have_multiple_credit_cards_in_India\"><\/span><a class=\"collapsed\" id=\"ea-header-2122\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse2122\" aria-controls=\"collapse2122\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> Is it bad to have multiple credit cards in India?<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3><div class=\"sp-collapse spcollapse \" id=\"collapse2122\" data-parent=\"#sp-ea-212\" role=\"region\" aria-labelledby=\"ea-header-2122\"> <div class=\"ea-body\"><p><span style=\"font-weight: 400\">Having multiple cards isn&#8217;t a bad habit, but mismanaging and not paying back can lead to a <\/span><b>debt trap<\/b><span style=\"font-weight: 400\">. It requires careful tracking of payments and spending.<\/span><\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><span class=\"ez-toc-section\" id=\"How_do_I_use_a_credit_card_smartly_in_India\"><\/span><a class=\"collapsed\" id=\"ea-header-2123\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse2123\" aria-controls=\"collapse2123\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> How do I use a credit card smartly in India?<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3><div class=\"sp-collapse spcollapse \" id=\"collapse2123\" data-parent=\"#sp-ea-212\" role=\"region\" aria-labelledby=\"ea-header-2123\"> <div class=\"ea-body\"><p><span style=\"font-weight: 400\">Practice <\/span><b>smart credit usage<\/b><span style=\"font-weight: 400\"> by paying full dues on time, keeping utilization below 30%, and leveraging <\/span><b>credit card rewards<\/b><span style=\"font-weight: 400\"> without overspending.<\/span><\/p><\/div><\/div><\/div><div class=\"ea-card sp-ea-single\"><h3 class=\"ea-header\"><span class=\"ez-toc-section\" id=\"Can_closing_an_old_credit_card_hurt_my_credit_score\"><\/span><a class=\"collapsed\" id=\"ea-header-2124\" role=\"button\" data-sptoggle=\"spcollapse\" data-sptarget=\"#collapse2124\" aria-controls=\"collapse2124\" href=\"#\" aria-expanded=\"false\" tabindex=\"0\"><i aria-hidden=\"true\" role=\"presentation\" class=\"ea-expand-icon eap-icon-ea-expand-plus\"><\/i> Can closing an old credit card hurt my credit score?<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3><div class=\"sp-collapse spcollapse \" id=\"collapse2124\" data-parent=\"#sp-ea-212\" role=\"region\" aria-labelledby=\"ea-header-2124\"> <div class=\"ea-body\"><p><span style=\"font-weight: 400\">\u00a0Yes. Your credit history\u2019s length impacts your score. Closing old cards can shorten your credit history and hurt your credit profile.<\/span><\/p><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n<p><strong>Disclaimer \u2013<\/strong> This article is for educational purposes only and does not intend to substitute expert guidance. Mutual fund investments are subject to market risks. Please read the scheme-related document carefully before investing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top Mistakes People Make with Credit Cards When talking about financial tools, credit cards come up as one of the most powerful ones, when used responsibly, providing..<\/p>\n","protected":false},"author":1,"featured_media":221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[224,216,225,221,227,223,220,226,218,217,222,219,228,229,230],"class_list":["post-213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-avoid-credit-card-debt","tag-common-credit-card-errors","tag-credit-card-billing-cycle","tag-credit-card-charges-india","tag-credit-card-financial-mistakes","tag-credit-card-interest-rate-india","tag-credit-card-late-payment-fees","tag-credit-card-minimum-payment-trap","tag-credit-card-mistakes-in-india","tag-credit-card-tips-india","tag-credit-score-india","tag-how-to-use-credit-card-wisely","tag-personal-finance-india","tag-rbi-credit-card-rules","tag-smart-credit-card-usage"],"_links":{"self":[{"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/posts\/213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/comments?post=213"}],"version-history":[{"count":2,"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/posts\/213\/revisions"}],"predecessor-version":[{"id":222,"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/posts\/213\/revisions\/222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/media\/221"}],"wp:attachment":[{"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/media?parent=213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/categories?post=213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prodigypro.co.in\/blog\/wp-json\/wp\/v2\/tags?post=213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}