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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.

Reward Points

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...

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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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Add-On Card

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...

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Entrance Fee

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...

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