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Credit Cards

Default

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 bank has the right to charge a higher interest rate as a penalty for the missed payments. It is important to understand the terms and conditions of your credit card to avoid defaulting and incurring additional charges.

Related terms

Classic Card

Understand the meaning and definition of Classic Card in the context of stock market, trading, and investments.

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Cash Advance Facility

Understand the meaning and definition of Cash Advance Facility in the context of stock market, trading, and investments.

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General Insurance

Understand the meaning and definition of General Insurance in the context of stock market, trading, and investments.

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Executive Card

Understand the meaning and definition of Executive Card in the context of stock market, trading, and investments.

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Previous Balance

Understand the meaning and definition of Previous Balance in the context of stock market, trading, and investments.

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