New Delhi, April 9 -- Credit cards are financial instruments that offer flexibility, convenience and seamless digital payments. However, relying too heavily on paying only the minimum amount due can lead to a dangerous cycle of debt.

While making only the minimum payment might seem like a short-term solution to avoid late payment penalties, it carries serious risks for credit card users in India.

Let us examine this common pitfall, the minimum payment trap, in detail. It can force credit card users into mounting debt, leading to a loss of financial credibility, a drop in trustworthiness, and a significant decline in credit scores.

The minimum payment due is generally 5% of your total outstanding balance on your credit card, along with ...