Dear salaried person in your twenties who is pre-approved for a credit card, take it from me, it’s a trap. Between tempting EMI schemes and seemingly endless cashback opportunities, the more gullible ones among us tend to fall prey to getting a credit card. Exhibit A: Yours truly.
As reports surface of a doubling of the Indian household debt, it’s a good time to pause and assess the situation. Is this merely a blip in our spending activities, or are we veering toward a westernised consumer culture as feared by so many of our right-wing leaders?