India’s festive months, from Navratri to Diwali, have witnessed a sharp rise in credit card spending. Online shopping platforms like Amazon and Flipkart offered special discounts for card payments, which encouraged people to swipe more than usual. As per Moneycontrol analysis, credit card transactions grew by 26.8% in volume and 34.8% in value compared to last year, touching ₹5,286 crore in daily spending. In contrast, debit card usage fell by more than 22%, showing that people preferred borrowed money over direct payments.

While credit cards offer convenience, cashback, and reward points, they also come with very high interest rates, ranging from 35% to 48% per year if bills are not paid on time. This makes credit card debt the costliest form of borrowing in India. Missing even one payment can ruin your credit score, affecting future loans like home, car, or education loans.

To avoid falling into a debt trap:
• Spend only what you can repay in full
• Do not rely on minimum due payments
• Set bill reminders and track spending
• Avoid converting small purchases into long EMIs

Festive shopping is fun-but financial stress is not. Spend smart, not impulsively.