Be cautious

You may argue that banks can't fool you by inserting such clauses in long and winding documents, but they are on the right side of the law. Your only recourse is to be cautious.

The basics before getting a card:

1. Don't ignore the fine print. Even if it's a tedious job but it can save you a lot of trouble, not to mention, money.

2. Whatever the reason, don't default on credit card dues because credit cards are nothing but unsecured loans and banks use every method to recover their money, while being legally correct at the same time.

So, do not be enticed by catchy punchlines!

Read: Multiple credit cards = tight rope walk

Calculate: Your debt

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e-mail: Gayathri Madhavan

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