New Delhi, Feb. 17 -- The most recent report from the Federal Reserve Bank of New York reveals that credit card debt in the United States has reached a record high of $1.21 trillion.

Though the record high figure indicates the fiscal situation in the United States, it also holds valuable lessons for Indian cardholders, given that credit card spending is gradually gaining traction in India.

Though the economies of the US and India are one of a kind, the global principles of reasonable use of credit cards are the same everywhere on the planet.

Following the trend of the US, Indian credit card holders can also be cautious, use their credit carefully, and guard themselves from an endless debt trap.

Consumer expenditure rises when househol...