Credit-cards Glossary

As the term suggests, an add-on card is a privilege offered to the spouse, parents or children of the primary credit card holder. The fee for an add-on card varies between Rs. 125 to Rs. 1,000 depending on the type of card and all expenses incurred on an add-on card are billed to the primary cardholder.

Air accident insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation. Air accident insurance policies are distinctly different from those for other areas of transportation and tend to incorporate aviation terminology, as well as terminology, limits and clauses specific to air accident insurance.

\'Miles\' as they are popularly known, log up each time a card is used in the card holder\'s account and can be redeemed for free flights.

This is payable in advance, but not paid for in cash. It is billed into the first billing

The interest rate that reflects the yearly cost of the interest the outstandings on your card is called the annual percentage rate. This rate is charged to the card holder on the amounts carried forward beyond the due date for the payment of balances. Most card issuers will tell you their monthly rate of interest. It might sound low at 3%, but when you look at the interest rate over the year, it turns out to be as high as 43%.