India, June 19 -- With increasing per capita GDP growth at an all-time high in India, the disposable income of the common man has also increased. Despite this, certain products and commodities may still be out of reach. In such cases,credit cards can be a handy financial tool. They offer not just the ability to own expensive products but also a great deal of financial flexibility. So, before you apply for acredit card, here are some key details worth knowing.

Unlike debit cards,credit cards allow you to spend more than the amount available in your bank account. Using acredit card is like taking a short-term loan to purchase something you otherwise would not be able to with your existing monthly income. So, when you buy anything using thi...