When good debt becomes bad debt: Warning signs, costly debt errors and practical ways to regain control of your finances | Mint

Key Statutory Highlights

• Good debt can support education, a home or business growth, but only when interest costs are reasonable and repayments fit your budget.
• Bad debt usually brings high costs without lasting benefit, such as expensive loans for luxury holidays, unnecessary gadgets or unaffordable cars.
• The RBI warns that paying only the minimum on credit cards stretches repayment and increases interest costs.