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Credit Cards

Personal Identification Number (PIN)

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 issuer and the country of origin in the first 8 digits, while the remaining 8 digits contain details about the cardholder, such as their category (businessman, individual, or NRI). The PIN acts as a key to access certain services, such as withdrawing cash from ATMs. It is essential to keep this number secure and most credit card issuers advise their clients to either store it in a safe place or memorize it instead of writing it down.

Issuing Bank

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...

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Balance Transfer

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 ...

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Annual Fee

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...

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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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