Finance Glossary

Permanent Account Number — your 10-character tax identity number issued by the Income Tax Department.

The legal requirement to furnish PAN when applying for a credit card in India.

The process of updating or linking a new PAN with your credit card issuer after a change of PAN or name.

A physical credit card statement sent by post, as an alternative to electronic or online statements.

A partial payment made before the statement due date, reducing the principal on which interest is calculated.

Paying less than the total amount due.

Redeeming points via partner programs.

Any unpaid credit card balance that has passed its payment due date, including the unpaid minimum amount due, late fees, and over-limit charges.

A third party that aggregates payments for merchants.

The currency in which a credit card payment is settled, typically INR for cards issued in India.

The last day to pay your bill without interest.

A service that processes online card payments.

A record of past repayments on credit accounts.

A backend system that handles transaction processing.

The period between the statement date and the payment due date during which a credit cardholder can pay their outstanding balance without incurring interest.

A UPI and wallet-based payment app.

A digital payments bank from Paytm offering savings accounts, the Paytm Payments Bank Card, and integrated UPI and wallet services for digital-first users.

HDFC Bank's private-label payment app offering rewards on recharges, bill payments, and card management.

A higher rate for default situations.

An irreversible card block triggered by confirmed fraud or serious policy violation.

A Person of Indian Origin is an overseas citizen of Indian descent who qualifies for simplified documentation when applying for an Indian credit card.

Credit card bundled insurance covering accidental death or permanent total disability.

Fraudulent emails or messages stealing data.

A leading UPI-based payment app in India for person-to-person and merchant payments.

Personal loans, BNPL, and credit products offered through the PhonePe app, leveraging the platform's large user base and transaction data for instant lending decisions.

A card featuring a personal photograph of the holder.

A security verification step where a cardholder submits a recent photo to the card issuer via the mobile app, to confirm identity on the account.

A tangible plastic or metal card delivered by courier.

A two-factor authentication method for credit card transactions that combines something the cardholder knows (PIN) with something the cardholder is (biometric), adding a security layer.

A fee for reissuing a card PIN.

Setting the card's PIN.

A card that requires a Personal Identification Number for use.

A standard physical card made of PVC.

An independent lounge network.

A Visa ATM network.

Public sector bank credit cards.

A PNB mobile banking app.

The ratio for transferring points.

A block of points for redemption.

A fee for reactivating expired points.

The ratio of points earned to amount spent.

A credit arrangement where multiple borrowers share a single credit limit from a single card or account, with each participant having a defined sub-limit.

A credit score below 700, reflecting a higher-risk borrower profile that results in limited access to premium credit cards, higher interest rates, and stricter approval terms.

A daily limit on POS transactions.

Malware that forces a point-of-sale terminal to dispense unauthorised cash.

Malicious software installed on point-of-sale terminals that steals payment card data during transactions.

Traditional postal delivery of a credit card, now largely replaced by courier services.

A card offer based on existing relationship.

An invitation-only credit card offer extended to existing customers based on their credit profile.

Chosen by the card issuer for an offer based on internal data, carrying a high likelihood of approval.

An interim credit card statement showing unbilled transactions before the formal statement generation date.

The score range for best offers.

A premium banking relationship.

A high-tier card with elevated rewards and exclusive benefits.

A card pre-loaded with a fixed amount of money for spending.

A payment made before the statement is generated.

Indian law against money laundering.

The balance carried over from the last statement.

An interest calculation method using prior balance.

Insurance that refunds the price difference if an item purchased with the card drops in price within a specified window.

The unique 16-digit number on a card.

The main person who owns and is responsible for the account.

A visit by the primary cardholder.

The senior bank officer handling escalated credit card grievances in India.

A banking relationship package offering premium services and benefits above standard accounts, typically at a lower threshold than full premier or wealth management relationships.

A global lounge access program.

A fee for Priority Pass lounge visits.

An airport lounge accessible through the Priority Pass global lounge membership programme, included with many premium credit cards in India.

The top-tier Priority Pass membership offering unlimited complimentary airport lounge visits worldwide.

An entry-level Priority Pass membership with a limited number of complimentary lounge visits per year.

Priority Pass membership tiers: Standard, Standard Plus, and Prestige, each with different visit allowances.

A banking service for high net-worth individuals offering personalised financial services and investment advisory.

A fee for processing a card transaction or service.

Using reward points to claim a product.

Insurance covering items bought with a credit card against damage or theft within a defined period after purchase.

A fee for purchase protection insurance.

An alert sent by the card issuer's mobile app to the cardholder's phone, delivering transaction updates and account alerts in real time.