bajaj card is credit card only where you don't get statement & amount is debited from bank account directly.
It's more dangerous than credit card cause they have access to your bank account(if it's primary).
I am sure the penalty and recovery procedure would be equal to a credit card only.
If you are taking any loan with any type of instrument, you are availing credit which kind of credit card thing only with name change and diff terms.
Best way to avoid is use savings money or preplan & create RD deposit for the amount you need to buy it at end of RD deposit.
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