Finance Glossary

A short-term deposit with a bank or NBFC that earns interest and can be withdrawn on demand, sometimes used as a collateral structure for credit cards.

The re-lodging of funds from a matured call deposit or a released lien deposit back into an active deposit account, commonly associated with credit card collateral structures.

RBI's Know Your Customer and anti-money laundering norms that card issuers must verify before issuing cards.

Credit cards issued by Canara Bank, a public sector bank offering cards on Visa Platinum, Mastercard World, and RuPay networks.

The official Canara Bank mobile app for managing credit cards, accounts, and banking services on a smartphone.

A subscription term allowing cancellation at any time without penalty, common for digital services and insurance add-ons.

Profit from selling an asset like property, stocks, or mutual funds, taxed at different rates depending on how long you held it.

A reward structure where the accelerated earning rate applies only up to a specified spend threshold, after which it drops to the base rate.

Activating a new card for use.

The process of settling a deceased cardholder's outstanding credit card balance, including the role of the nominee, legal heir, and surviving family members.

A mobile app for card management.

The reverse side of a card with magnetic stripe and security code.

A temporary suspension of all transactions on a credit card, placed by the bank or the cardholder to prevent fraud or address non-payment.

Copying card data to a duplicate card.

The three-digit or four-digit security code printed on the back of a credit card, used to authenticate card-not-present transactions.

The billing cycle of a credit card, typically 30 days, that determines when transactions are recorded and statements are generated.

The date each month when billing closes.

Repeatedly opening and closing cards to maximise rewards.

Visual artwork and finish on the front of a card.

Applying for multiple credit cards to earn welcome bonuses, then closing them before the annual fee charges.

An optional insurance premium for fraud.

Real-time transaction analysis using machine learning to detect and block fraudulent card activity.

A temporary suspension of card transactions initiated by the cardholder to prevent unintended use or fraud.

The visible side of a card showing the brand, name, and number.

A wallet designed to hold credit and debit cards safely.

A network-level blacklist of blocked credit cards that are automatically declined at any merchant terminal.

The bank or NBFC that issues the credit card.

A voluntary security feature that lets the cardholder switch off all transactions on their credit card instantly via the bank's app.

The payment system that processes card transactions (Visa, Mastercard, etc.).

A fee paid by issuers to card networks like Visa.

The procedure and legal framework governing what happens to a credit card when the primary cardholder passes away.

A card number saved by a merchant for repeat billing.

Adding your card to Apple Pay, Google Pay, or Paytm.

A fee for reissuing a forgotten PIN.

A personalised credit card offer based on existing banking relationship data, requiring minimal documentation.

A sub-identifier within a card's BIN that distinguishes specific product variants, such as Visa Platinum versus Visa Signature.

A subscription service covering multiple cards against loss, theft, and fraud, with a single dashboard to manage all cards.

A fee for replacing a damaged or lost card.

The use of a hidden device to copy credit card data from the magnetic stripe or chip.

A protective cover that blocks RFID skimming.

An issuer's partnership with a merchant for card benefits.

Tracking the delivery status of a card.

ATM fraud where a device traps your card inside the machine so a fraudster can retrieve it.

Reversing a temporary freeze placed on a credit card by the cardholder or the issuer, restoring the card for transactions.

The duration a card remains active from issuance.

A specific version of a card within a product family.

A 3-digit security code on the back of a credit or debit card, used to verify card-not-present transactions.

A fee for transactions without a physical card.

Fraud on online or phone transactions.

A fraudulent transaction made at a physical point-of-sale terminal using a cloned, stolen, or counterfeit credit card.

Any person who holds and uses a credit card.

The legal contract between cardholder and issuer.

Fraud involving testing stolen credit card numbers with small transactions to verify validity before large-scale misuse.

A fee for withdrawing cash via your card.

High interest on cash advances from day one.

A fraud technique where a device traps cash from an ATM slot for the fraudster to retrieve.

A portion of a purchase amount returned to your card.

The maximum cashback amount earnable per month or per transaction in a specific category before the rate reduces.

A card that returns a percentage of your spend as cash.

A spend category that does not earn cashback, such as fuel, rent, wallet loads, or government transactions.

The percentage returned as cash.

Cashback processed via the Cred app.

A card feature that lets the cardholder block transactions at specific types of merchants, classified by merchant category codes.

An additional reward rate applied to transactions in a specific spending category such as dining, travel, or online shopping.

The highest-earning or best-value card for a specific spending category, such as dining, travel, or fuel.

A limit on the reward points or cashback earnable within a specific spending category, such as dining or travel, within a billing cycle or calendar year.

Using multiple credit cards strategically to combine accelerated reward rates across overlapping bonus categories, maximising total reward earnings from a single month's spending.

Public sector bank credit cards.

The value of each point in paise.

American Express's premium lounge network accessible to Centurion and Invitational cardholders, with global locations offering food, drinks, and business amenities.

The half of each intra-state GST transaction that goes to the Central Government, combined with SGST to make up the total rate.

A card requiring full balance repayment each billing cycle.

A reversal of a disputed transaction by the issuer.

False chargebacks for profit.

A cardholder's right to reverse a credit card transaction through the bank for fraud, non-receipt, or merchant default.

Airport lounges available at Chennai International Airport for eligible credit card holders.

A card with an embedded microchip for secure transactions.

A person who frequently opens cards for rewards.

Repeatedly applying for new cards for welcome bonuses.

A credit information report check performed by card issuers during the application process to assess the applicant's creditworthiness.

A percentile rank from CIBIL.

A detailed credit report from TransUnion CIBIL containing your credit score, accounts, payment history, and enquiries.

An Indian credit score by TransUnion CIBIL.

A Mastercard ATM network.

A Citibank mobile banking app.

A multinational bank that exited India's retail banking and credit card market, with its card portfolio transferred to Axis Bank.

Citibank's premium credit card in India offering accelerated reward points on travel, dining, and lifestyle spends with complimentary airport lounge access.

The process by which transaction records are exchanged between issuing and acquiring banks before settlement.

The date a billing cycle ends.

A merchant or brand collaborating with a bank on a card.

A card co-issued by a bank and a brand for tailored rewards.

RBI-mandated replacement of stored card numbers with tokens.

A fee for debt collection efforts.

A charge for premium concierge services, often bundled into the annual fee on super-premium credit cards.

Managing user consent for data collection and processing under India's DPDP Act.

A card with NFC chip for tap-to-pay transactions.

Maximum amount payable without PIN entry on tap transactions.

A merchant-charged fee for paying with a credit card, typically 1% to 2% of the transaction value.

Time after billing to reconsider a purchase or cancellation.

A waiting period of 3 to 6 months before reapplying for a credit card after a rejection, allowing the application record to reset.