If you’ve ever read or watched Vikram and Betal, you know how the story goes. King Vikramaditya is asked to bring back a ghost named Betal from the forest. Betal hangs upside down from a tree, and each time Vikram lifts him onto his shoulder, the ghost begins telling a story.
Every time he gets close, Betal tells him a riddle. And here’s the trick. If Vikram knows the answer and stays silent, his head will burst. So he’s forced to speak. And the moment he does, Betal escapes, flies back to the tree, and the loop begins all over again.
Now, imagine your credit card bill as that Betal.
Let’s be honest, credit cards are one of those things that feel both powerful and dangerous. It’s very convenient but also super easy to mess up.
If you’ve ever carried a balance or paid the bill with late fees, you know what I mean. It starts small, but if you’re not careful, the debt grows. And before you know it, you’re stuck making just the minimum payment every month, and the outstanding will never go down.
Like I mentioned, it’s powerful as well.
The good side of Credit cards.
- You get up to 45 days of interest free credit as long as you make the full payment by the due date.
- If you’ve been making consistent payments on time, it helps improve your CIBIL score. That’s useful if you ever need a home loan or any kind of credit in the future.
- Every rupee you spend earns you reward points, 1+1 movie tickets, airport lounge access, and all those tempting offers. Though yes, they can lure you into spending more, too.
- It can be a rescue backup during a genuine cash crunch, like those month-end expenses when the salary hasn’t hit yet.
Remember, this only works if you’re disciplined with the payments.
Where do things usually slip?
- Paying just the minimum due: Probably the worst trap. I went through this myself during my early career, 7–8 years back. A few of my friends are still stuck and feel helpless. Paying the minimum helps you avoid a late fee, but the remaining amount starts collecting interest, usually 3 - 4% per month. That’s almost 40% a year.
- Revolving credit: This is the moment Betal gets comfortable. You think you’ve answered him for now by paying just the minimum on your bill. But he doesn’t leave. He hangs around quietly, and next month he’s back with interest. Any new swipe you make also starts getting charged interest from day one. That means your free credit period is gone.
- Missing the due date: If you miss the due date, you get hit with a late fee, usually around 1000 to 1500. You also lose the free credit benefit, and now you’re paying interest on the full amount. And your credit score takes a hit, too. One small miss, and Betal makes sure it doesn’t go unnoticed.
- Hidden charges: Some cards come with annual fees. Some charge extra when you convert a spend into EMIs. Then there are charges for swiping abroad or withdrawing cash from an ATM. These don’t always show up upfront. Betal loves hiding in the fine print.
- Maxing out the credit limit: If you often use more than 30 to 40% of your credit limit, it will slowly pull down your credit score. It also shows that you’re relying too much on credit and not managing spends well.
- Zero cost EMIs: It sounds like a sweet deal, but here’s what really happens. The product price is sometimes made higher just for EMI buyers, so you might end up paying more than someone who pays all at once. Even if they say no interest, they add fees and GST.
How to stay out of the Loop?
- Pay the full amount, not just the small minimum, or the leftover will keep growing.
- Turn on autopay so you don’t forget and get charged late fees.
- Spend only what you already have, or you’ll end up in a mess later.
- Know your billing cycle so you don’t pay interest on something you just bought.
- Check your statement every month. Some shady credit card players include hidden charges.
- Avoid cash withdrawals. You’ll be paying extra from day one, and honestly, it’s not worth it unless it’s a real emergency.
- Stick to one or two cards. Too many just makes it messy and easier to lose track.
What if you’re already stuck in the loop? Feeling helpless?
Honestly, the only way out is to stop using the card till you clear your dues. That means lowering your lifestyle a bit and cutting back wherever you can. Maybe you don’t need to be eating at that fancy restaurant. Darshini does the job. If there’s something lying around that you don’t care about anymore, sell it and use that to reduce the debt.
Talk to the bank. A personal loan with lower interest is way better than letting credit card debt keep growing. At least you’ll have a fixed EMI and know when it’s all going to end.
You can also reach out to someone close, a friend or a family member. Who knows, they might actually help. But yeah, keep this as your last option. When emotions are involved, there’s always a chance of things getting awkward or being taken for granted.
That said, asking for help when you need it is never a bad thing. 
PS: Not trying to villainise credit cards. They are a lot like Betal in the stories, not evil, just tricky and clever. They keep coming back with a riddle, and it is on us to figure out how to respond.