A credit card does have some virtues; it can be beneficial in an emergency
Moreover, the number of credit cards outstanding is also projected to grow at fast pace of 23 per cent CAGR in the next five years
While NBFCs are increasingly willing to lend to below-prime borrowers, the latter should remember that failure to repay can have dire consequences
Personal loans, conversion into EMIs, borrowings from P2P lenders are alternatives if you can't pay credit card dues