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Cash Advance Fees

When you use your credit card to withdraw cash from an ATM, you will be charged a cash advance fee. These fees can be quite steep, usually around 2.5% of the transaction amount with a minimum fee of approximately Rs.100. It is important to use this feature wisely, as the interest rate for cash advances can be as high as 38%.

Balance Transfer Fee

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...

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Charge Card

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...

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Introductory/Intro Rate

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...

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Air Miles

"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...

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