New Delhi, Aug. 18 -- Credit card debt is spiralling across the country, with outstanding dues reaching a staggering figure of Rs.2.90 lakh crore by May 2025. This marks a sharp rise of 9% over just one year.

As the nation's appetite for digital payments and plastic money continues to gain momentum, so does the risk of falling into costly debt traps, with delinquency rates on unpaid bills surging 44% in the past twelve months alone. That is why understanding the pitfalls and taking decisive action is crucial to protect your financial health and economic prosperity.

Purvang Mashru, Senior Quantitative Research Analyst at 1 Finance, says, "Credit cards can be helpful, but the debt trap is real if you're not careful. Overspending beyond yo...