Know Why Credit Card Payment Does not Show up as an Expense

Credit Card Payment

The first quarter of 2019 recorded a payment card usage Rs. 11,261 billion in India. There is a 27% growth in the use of credit cards across India over 2018-19. These cards substantially increase the purchasing power of the user, helping them make short-term expenses on the available line of credit. The transactions via credit cards are not considered as expenses. Instead, they are denoted as debt that a user owes to a card issuer. Hence, credit card payment is measured as the amount paid by an individual to repay…