Credit cards serve as valuable tools in effectively managing money, says Rakshit Agarwal of Rupicard

Bypromoting responsible lending practices and enhancing credit risk management, secured credit cards contribute to a healthier financial ecosystem, says Rakshit Agarwal, Co-founder, Rupicard..

In an interview withMintGenie, Agarwal said that securedcredit cards provide a structured solution, requiring collateral like fixed deposits...

Edited Excerpts:Can you explain the significance of secured credit in the current financial landscape, especially in light of the RBI's actions?..

These cards provide cost-effective solutions tailored to the unique needs of the Indian market and hence, the demand for Rupay credit cards has been growing steadily which highlights the increasing popularity of digital payments in the country..

By prioritizing timely payments, monitoring statements, and maintaining a low credit utilization ratio, individuals can take the benefits of credit cards while avoiding debt traps and cultivating a path toward financial growth..