Using credit cards for ATM withdrawals? Here're errors that you must avoid

Withdrawing cash from ATMs using credit cards attract interest from the date of withdrawal till it is repaid

Getting their first credit card makes many people feel empowered. Not having to carry cash all the time is also convenient. However, if the card is not used judiciously, it can cause havoc with one’s personal finances, as Harsh Shukla, a 28-year-old Noida-based information technology professional, discovered (see box). Here are some of the credit card-related errors that users need to avoid.

Cardholders often spend, with scant regard to their repayment ability. “Use credit cards only to buy things you need and spend only what you will be able to pay off fully at the end of the month,” says