Plain-English definitions

Yearly charge for holding the card. Many cards waive this if you spend above a threshold (fee waiver spend).

The yearly interest rate charged if you carry a balance. Indian cards typically range from 23% to 53%. Always pay in full to avoid this.

The standard percentage of spend returned as rewards on non-category purchases. E.g. 1% means ₹1 back per ₹100 spent.

India's most widely used credit score, ranging from 300-900. Above 750 is considered excellent. Maintained by TransUnion CIBIL.

The percentage of your total credit limit currently in use. Keeping it below 30% positively impacts your credit score.

When a bank reduces the benefits of a credit card — cutting reward rates, adding caps, gating lounge access, or increasing fees — without changing the card name.

Axis Bank's reward currency. Can be transferred to airline miles (KrisFlyer) or hotel points (Marriott Bonvoy) at competitive ratios.

Many cards waive the annual fee if you spend above a certain amount in a year. E.g. HDFC Regalia Gold waives ₹2,500 fee on ₹4L annual spend.

Air India's frequent flyer program. Earnable via Air India SBI card and some other co-branded cards.

Additional charge on international transactions, typically 1.5% to 3.5% of the transaction amount. Zero forex cards (YES Marquee, IDFC Wealth) waive this.

Most credit cards charge 1% surcharge on fuel purchases. Cards with this benefit waive it, saving ₹10-50 per fill-up.

A credit check triggered by a card application. Reduces your score by 5-10 points. Too many in a short period signals risk.

The fee banks charge merchants for accepting card payments. This is how banks fund reward programs without charging users.

Days between purchase and payment due date where no interest is charged. Typically 20-50 days depending on when in the billing cycle you spend.

One-time fee paid when you first get the card. Different from annual fee (which recurs). Often offset by welcome benefits.

Singapore Airlines' frequent flyer program. One of the best partners for HDFC and Axis card transfers. Known for Business Class sweet spots.

Complimentary access to airport lounges. Domestic (Dreamfolks/VISA) and international (Priority Pass) are different networks with different coverage.

Marriott's hotel loyalty program. Points transfer partner for HDFC, Axis, and Amex cards. Cat 1-4 hotels in India offer best value redemptions.

American Express's reward currency. Transfers to Marriott Bonvoy (1:1), British Airways Avios (1:1), and other partners.

Extra rewards earned when cumulative spend hits a threshold. E.g. Amex gives 7,700 bonus MR points on ₹1.9L annual spend.

Most Important Terms and Conditions. The official document banks publish with all card terms. Changes here = devaluations.

Tata Neu app's reward currency, worth ₹1 each within the Tata ecosystem (BigBasket, Croma, 1mg, Westside, Air Asia).

The world's largest independent airport lounge access program. Cards with Priority Pass give access to 1,300+ lounges globally.

The value lost when redeeming points for low-value options like catalog items or cashback. E.g. HDFC points worth ₹1.80 via KrisFlyer are worth only ₹0.30 as cashback.

The points/miles/cashback type earned by a card. Different currencies have different transfer partners and redemption values.

The effective percentage return on spend as rewards. Always verify the redemption value — a "5X points" card may only give 0.5% actual value.

Carrying a balance from one month to the next. Triggers interest charges at the APR. Should be avoided given India's high APRs (42-53%).

A credit check that does NOT affect your score. Checking your own score is always a soft inquiry.

One-time reward given on joining a card, often as bonus points, vouchers, or fee reversal. Best cards give benefits equal to or exceeding the joining fee.