Taking a loan on your credit card
Getting cash on your credit card is a very expensive affair. When you borrowing cash on your card; you may get an offer from the bank to opt for the EMI (Equated Monthly Installment) facility to make the payment. Loan from your credit card facility does not come cheap and the interest on the EMI is excessive. The interest rate may vary from 30-45% Better that you make the payment before the due date in one go and give the EMI facility a miss.
The economic rescission has made people think twice before opting for a Loan, before the economic slump down there would only be a few families in the city that does not have any loan. Car loan, credit card loan, housing loan, personal loan, etc. Personal loans seems to be the attraction without any security normally the intrust rate would be higher, to get a loan was not an hard option for many of us. The situation has changed completely with the commence of the economic slow down, the banks have completely stop lending personal loans or they have stopped or limited it to their own customers. I would personally do not suggest that you should take out any loans since once started they are difficult to stop like smoking and one full life will not be enough to clear all the loans and sleep in peace.
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