Credit card is not substitute for emergency fund!

Sometimes people argue that in case of emergency, they can use their credit cards to avail short-term money. While it can work in situations like temporarily delayed payment and in situations like illness etc., but it becomes counterproductive. Credit card bills if not paid within timelines, not only attract hefty interest and penalties, it also affects credit score negatively. In fact, people often subscribe to many credit cards to avail rewards that such cards offer but there is a risk of such people excessively using credit cards and falling into debt traps.