Paying minimum on credit cards avoids late fees but not interest
Credit card outstanding in India reached ₹2.92 lakh crore in December 2024, with women averaging ₹34,300, surpassing men’s ₹31,500. The outstanding amount includes purchases, fees, and interest, while current outstanding reflects real-time dues. Paying only the minimum avoids late fees but attracts high interest. Track via apps or net banking and pay in full to avoid debt.