The credit card, which can be used to shop your favourite clothes, accessories, food, pay bills and live a luxurious life; may turn into a life-threatening trap. A credit card allows you to spend a limited amount of money every month, even when you do not possess funds in your bank or hand. It may be a good option if you are comfortable to pay your credit card bill at the end of the month. However, if you are meeting difficulties to pay the monthly credit card bills, its time to take a pause and rethink. 

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Here's a shocking case that will certainly make you rethink:

A data entry operator in Delhi, who had a debt of nine credit cards committed suicide along with his wife and a 5-year-old daughter. Suresh Kumar, 34, of Delhi' s Jagatpuri area used to work as a data operator in Gurgaon. Small salary but big expenses made his life hell after he found himself trapped in debt of nine credit cards from different banks. Wife Manjit Kaur and daughter Tanya Kaur are fighting for life after jumping off the 4th floor, while Suresh is no more. 

The incident is an eye opener for a middle class individual, who spends more than his/her income. It is absolutely fine to have a lavish lifestyle but only if you can easily afford it. Kumar was depressed with the bulging debt of over Rs 8 lakh, interest, penalties and infinite calls from recovery agents of different banks. One can easily avoid life-threatening Credit Card trap by following these tips below. 

1. Avoid doing heavy transactions from credit cards: Doing heavy purchases like mobiles, expensive gits, luxurious trips should not be done via credit cards. At the time of having these things, people do not think much about spending unnecessary huge amounts, which become difficult to repay in a limited income. 

2. Pay your bills timely: Do not forget to pay your credit card bills on time. Banks usually charge huge interests ranging from 15% to 24% p.a on credit card dues and penalties for non-timely payments can add hell lot of financial burden on your pocket. 

3. Do not have more than one credit card: Avoid possessing more than one credit card with you. Even the one credit card in your pocket should be wisely used, in case you need it in an emergency or for things which are easily repayable. 

4. Avoid taking credit card loans and EMI on purchases: Taking loans against credit cards or having huge items on EMIs also add up to your financial burden. These EMIs and loans carry huge interest rates, which traps you in the perils of credit cards. 

5. Use cash more: Using more cash can make you spend less. An individual would find it difficult to pay a Rs 5,000 dinner bill through cash instead of using a credit card for the same.

6. Invest and save more money: Have a habit of investing money and save more from your monthly income. It allows you to have extra cushioning in case of an emergency.