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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.

Minimum Payment

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...

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Credit Limit

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...

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Master Card

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...

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Free Credit Period

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...

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