🧾The Truth Behind Credit Cards — Help or Trap?
Introduction
Credit cards — their original purpose was truly noble. Yes, it really was. But gradually, banks and NBFCs observed that these cards could become one of the most profitable businesses. And driven by this greed, they played a game — a game in which most of India has now become a victim.
In the corporate world, out of all the people I know, more than 90% are trapped in credit card debt. As soon as their salaries arrive, before giving money at home, before making any investment, before even buying anything — the first thing they do is pay their credit card bills or EMIs. Most of them don’t even realize they’ve fallen into a lifelong trap laid by banks and NBFCs.
Key Points
🟧 How this trap works?
In my understanding, a credit card is basically an instant loan facility, or we can even call it an instant help facility. The original purpose, as I believe, was something good. Imagine if someone suddenly faces a medical emergency or any unexpected expense. Normally, they'd have to call friends or relatives asking for help: “Just help me for 10–15 days, I’ll return it next month once my salary comes.” This is painful — begging around, not knowing who will help.
But credit cards changed this forever — and that was a great thing! Now, if you need urgent funds for hospitalization or travel, you can simply swipe your card and manage the situation without begging or calling anyone. And if you repay the full amount next month — there’s no interest at all. This is genuinely helpful.
Example
🟥 But the game changed...
What was designed for emergencies is now being used for clubs, bars, wine, cafes, trips, and shopping — basically artificial needs. Not only are banks and NBFCs allowing this, but they are actively promoting it via advertisements. They say:
“Earn reward points on every transaction, and redeem them later!”
Conclusion
That’s the game. Banks know very well that someone who spends only on real needs will most likely repay the bill every month. But someone who spends on wants, impulses, and status-driven consumption will default or convert their dues into EMIs — and this is exactly what banks want. That’s their goldmine.
So yes, the same credit card which was created to help us — has now become a trap, a psychological loop where people unknowingly mortgage their freedom for temporary pleasure.
Please be aware. Don’t fall into the trap.