New Delhi, Nov. 22 -- Credit cards are a simple way to buy something today on a loan, plus it takes just one swipe. But why do banks make it so easy for you to access credit? Your bank will set a limit on your credit card, hence, it's not an unlimited loan and neither is it effortless because applications can get rejected. It seems like easy credit, but there are a lot of nuances that you should know to use your credit card advantageously.

Firstly, it's a very short-duration loan. Unless you repay your outstanding within the 50-day period, and in your current billing cycle, it becomes very expensive.

Using a credit card to buy what you want can feel very liberating; your money in the bank remains at the same level and yet you have this ...