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 Tax on interest is a thorny issue and it is all the more true when the compounding effect of the interest on credit cards is considered. Though there’s no tax on borrowing money, ultimately you are paying some tax on credit cards. This is because, in case of the mainly the secured debts, you can get tax deductions at different situations. But in case of credit cards, there is no way in which you can get the benefit of any kind of tax deductions even if you opt for credit consolidation.After…See More