Who goes a borrowing, goes a sorrowing.

My parents always taught us to be content with life and never focus more on the materialistic things in life. To acquire material things in life a person may go beyond their limit and ends up in #debt. It has been said in Scriptures as well as in our epic "Mahabharatha" that a "debt free" person is considered to be the happiest. When a person is in #debt it is seen as a burden that grows like a fire or an enemy if not completely eliminated. No matter how much we study or get instruction from elders, a person will commit some mistakes and so does me. My biggest mistake was to get carried away with the "credit card marketing tricks" and ended up slightly in debt.

It was the initial phase, when credit card was launched in India. Not completelly aware about the system pros and cons, I get into the debt trap. It was the system designed in such a way that allows us to borrow money from a financial institution to make purchases by just swiping a card seems very lucrative. I remember during that time getting a loan from banks was a lengthy process. But finding the ease at which credit card allow us to fund the short term fund requirement was tempting. It was the #AmericanExpress (cutting short 'amex card') who was a pioneer in transforming a financial product into a marker of identity and aspiration, positioning their cards as symbols of success and an exclusive club. These credit cards were marketed at a huge level. You will find the banking representatives at every public place. Be it parking, shopping malls, grocery stores. Infact these credit card was the reason the call centres flourish in India. Whenever we visited the bank, some representative will approach with a smiling face, enough to impress us to be in card trap.

Issuers deliberately position their cards to be as prestigious and premium, attracting customers who value luxury, exclusivity, and status. The process of owning the cards was easy too ;

• having a bank account
• a regular flow of income
• get the credit card free of cost.
• swipe them to buy products within the limit.
• pay back the borrowed amount later either in full to avoid interest or over time with interest charges.

In addition they offer many high end perks such as luxury travel benefits and concierge services , cashback, rewards points etc. We humans always get fascinated with free stuffs. And when we get something for free without much tussle, we are quick to grab the offer. Owning a credit card at that time was a status symbol transforming a simple financial tools into symbols of prestige and personal identity. This provoked me to own the plastic money too.

After encountering many request at different places and calls, the financial institution suceed in wooing me with their offer. I was carried away with the card system and ended up swiping at multiple places. Just to own whatever I liked, and spend wherever I could. I was enjoying some financial freedom, which was not mine. At many ocassion, I ended up paying heavy interest for my shopping and spending. However, I was quick to realize my mistake and reminded me of my parents teaching -

Never go beyond the limit.

It suggests a principle of caution, self-restraint, and adherence to boundaries. The principle implies that excessive actions or behavior can lead to negative consequences or a loss of control. And I was riding those waves only because of the way the card was marketed to me. I was spending more than my earning and slowly pushing myself into the #debt-trap. But better late than ever, I pulled back and since then never own a credit card. Even if they now deliver at my doorstep, I am not going to use it.

In good faith - Peace!!

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