Detailed Analysis
Credit and debit cards look identical but work very differently. Used wisely, credit cards are superior; used poorly, they're financial traps.
Credit cards give you a 30-50 day interest-free period, rewards on every purchase, better fraud protection (disputes before your money is taken), and build your CIBIL score. The catch: if you don't pay in full, interest at 36-42% APR kicks in — among the highest rates in any financial product.
Debit cards directly deduct from your bank account. No debt risk, no interest charges. But you miss out on rewards, have weaker fraud protection, and don't build credit history.