New Delhi, Oct. 16 -- Credit cards are financial tools issued by banks and other financial institutions which allow users to borrow funds to make purchases. This borrowed sum is later repaid, either in full or with potential interest if not settled in full.

These features highlight the significance of credit cards. Still, it is crucial to remember that the misuse of these credit tools can lead to debt accumulation, legal issues, psychological distress, and ultimately affect one's overall financial well-being. This makes it essential to adopt good habits to enhance one's creditworthiness and responsible credit card usage.

Sarika Shetty, Co-founder and CEO, RentenPe, says, "Managing credit cards efficiently requires certain habits to be b...