"From what I heard about it, I am never going to get a credit card for myself", said a colleague. I remembered having the exact same thoughts a few year ago. So, what is this that make us apprehensive about the credit card ownership? Easy credit availability and excessive rates of interest in such a manner that the user can go bankrupt. It is not that simple. Read on to find out. A credit card have a lot to offer to the users. There is no trap by the banks. However, some users do not try to understand the basic Terms and Conditions and fall under huge debt. It offers interest free credit for 30-50 days (depends on card). So, its interest free, what's the problem? Let's say a statement cycle is from 1st to last day of a month. The statement for expenditure is generated on 1st February for period 01 Jan to 31 Jan. The due date for payment is, say, 10th Feb. So, for expenditure on 1 Jan, you pay on 10 Feb, i.e. after 40 days. And for expenditure on 31 Jan, y...