When a credit card holder has paid off all their outstanding balances and has not made any new purchases during the billing cycle, their bill will reflect a zero balance. Thi...
These cards can be used to make purchases at various merchants and establishments globally.
VISA cards, a product of VISA, USA, are distributed by banks and financial instit...
An add-on card is a supplementary benefit extended to the spouse, parents, or children of the primary credit card holder. It is a convenient option for family members to acc...
Credit cards are a common tool used for making purchases and managing finances. They are typically issued by banks or other financial institutions and come with a range of f...
Smart cards, aptly named for their advanced capabilities, are embedded with a computer chip that holds a whopping 16K of memory. These powerful cards have the ability to acc...
Credit card issuers typically charge a fee for various services such as cash advances and teledrafts. This fee, known as the service fee, is an additional cost on top of the...
A secured card is a form of credit card where the cardholder pledges their Savings deposit as a guarantee for payment to the bank. This type of card is often utilized by ind...
Credit card companies have implemented a clever tactic to incentivize card usage - reward points. For instance, Citibank card holders earn one point for every 100 rupees spe...
Credit cards provide a convenient form of borrowing money from a bank, known as a card issuing bank. This bank lends a predetermined amount to a card holder, which can be bo...
A common term used by banks to describe card holders who carry over a portion of their credit card balance to the following month is "revolver". It is believed that approxim...
As a professor of finance, it's crucial to understand the concept of Purchase Protection. This insurance provides coverage for any purchases made with a credit or debit card...
Credit card companies often use a method known as the 'previous balance' to determine the fees charged to their customers. This method takes into account the outstanding bal...
Platinum, a metal more highly valued than gold, parallels the concept of Platinum Cards in the realm of finance. These credit cards boast elevated spending limits and luxuri...
A Personal Identification Number, commonly known as a PIN, is a unique combination of numbers assigned to each card. This 16-digit code reveals information about the card is...
Debit cards are a popular form of payment, especially in the digital world. These cards allow for instant deduction of funds from the card holder's bank account. To make a p...
In the world of finance, we often come across terms that may seem daunting at first glance. One such term is "offline debit cards." Let's break it down.
To put it simply, ...
One of the key concepts in finance is the interest rate applied to cash withdrawals from ATMs or balances carried over past the free credit period. This rate reflects the co...
As a finance professor, it is imperative to understand the concept of minimum payment in credit cards. This refers to the minimum amount that a card holder must pay in order...
Master Card, a trademark of Master Card International, is issued by various banks and financial institutions globally. It is a widely recognized payment solution that allows...
As a responsible financial consumer, it is crucial to understand the procedure for dealing with a lost or stolen card. In such an unfortunate event, the first step is to pro...
Credit card late fees are an important aspect of understanding the cost of borrowing money. It refers to the fee charged to a cardholder when their monthly payment is not re...
The Joining Fee, as the name implies, is the amount you pay upon acceptance of your credit card application. This fee varies depending on the bank and the type of card reque...
These cards can either be credit, debit or prepaid cards.
In the realm of finance, the term "issuer" is used to describe the banks responsible for issuing cards. These card...
A credit card's introductory rate, often referred to as a teaser rate, is a lower interest rate offered by the bank during the card's initial launch period. This is primaril...
As a knowledgeable professor in finance, it is important to understand the concept of an International Card and its benefits. This type of card allows you to use it abroad,...
In the process of reviewing applications for joint credit cards, financial institutions carefully consider the total household income. This includes the combined earnings of...
In the world of finance, it is important to understand the terminology used by card issuing banks. Three common terms used to distinguish between levels of services are Gold...
A Global Card grants you the convenience of utilizing your credit card while traveling abroad. It allows you to make purchases in various currencies and then pay off the bal...
As a credit card user, it is important to understand that you are automatically provided with General Insurance by your issuing bank. This insurance offers financial protect...
In the world of finance, there exists a concept known as a free credit period. This period, typically lasting between 20 to 50 days, is a time frame in which the card holder...
In the world of finance, there are three main categories of credit cards: Executive, Silver, and Gold. These terms are used by issuing banks to distinguish the varying level...
As you navigate the world of credit cards, you may come across the term "entrance fee" or "joining fee". This fee, which is payable upon approval of your credit card applica...
In finance, default refers to the failure to make timely payments as per the signed agreement between a cardholder and their bank. When an account is in default, the issuing...
A Debit card is a valuable financial tool that allows you to access your bank deposits for payment anytime, anywhere. This card functions similarly to an ATM card, but with ...
In finance, Credit Shield refers to a provision that relieves a credit card holder from paying any outstanding balance on their card in case of accidental death. This is sub...
As a card holder, it is important to understand the concept of maximum spending limit, also known as credit limit. This refers to the highest amount that you can spend using...
A revolving line of credit, determined by the holder's income, can be accessed through a credit card. The credit period, ranging from 20-50 days, is calculated from the bill...
Co-branded cards, a partnership between a lending institution and a non-financial group, are commonly seen in the form of airline, hotel, and retail cards. One of the main p...
One of the most popular payment methods used today is the VISA-branded card. This card allows individuals to make purchases at a wide range of merchants, both online and in-...
A charge card is a type of payment card that requires you to pay off the full amount of your purchases by the due date. Unlike credit cards, charge cards do not allow you to...
This facility usually comes with a high-interest rate.
The Cash Advance facility, also known as using a credit card to withdraw cash from an ATM or Automatic Teller Machine...
As a financial expert, I'm sure you're familiar with the fine print statement of terms and conditions that one must sign when obtaining a credit card. This document outlines...
Credit card companies regularly send a statement to their customers detailing their spending, outstanding payments, and any finance charges. This statement also includes an ...
A billing cycle, also known as a statement cycle, refers to the number of days between the previous and current statement sent to a credit card holder. These cycles usually ...
It is usually a percentage of the amount being transferred, and can range from 3-5%. This fee is commonly used by credit card companies as a means of generating revenue.
One...
Balance transfer is a term used in the financial world to describe the process of transferring unpaid credit card dues from one issuer to another. This practice is commonly ...
Baggage cover is a valuable form of insurance that provides protection in case your baggage is lost during travel. While international and Gold credit cards typically includ...
Greetings, class. Today, we will be discussing an important concept in the world of finance: the annual percentage rate, or APR. This is the interest rate that is charged to...
period and is due on the first day of the billing period.
In the world of finance, there exists a concept known as "payable in advance." This refers to a payment that is not...
"Let's discuss a common term in the world of finance - Miles. You may have heard of them as a reward for using credit cards. Miles, short for 'airline miles', are accumulate...
Welcome to our lesson on air accident insurance. This type of insurance is designed specifically for the operation of aircraft and the unique risks involved in aviation. It ...
An add-on card, as its name implies, is an exclusive feature available to the spouse, parents or children of the primary credit card holder. The cost of an add-on card range...
