If any merchant’s logo or name is featured in a credit card as a co-promoter of that specific card, then it is known as a co-branded card. Online shopping websites and airlines are some of the merchants who sponsor co-branded cards. Special privileges are provided by these merchants on the usage of the card.

Contactless payment technology is using the card by waving the card over a reader and the payment is accepted. There is no need to swipe the card and enter the PIN. The contactless payment is allowed up to a purchase of Rs. 2,000. Over and above this amount the card has to be swiped and the pin entered. The payment terminal will also say whether the transaction is successful or not. In case the terminal does not work then the card has to be swiped and the pin entered.

The card verification value number is a 3 digit number mentioned on the back of the credit card. CVV number is very essential and it is a security feature for online transactions.

The charges applicable for the credit card are:

• Joining fee: The fee that has to be paid before the card is activated.
• Annual fee: A pre-determined amount to be paid annually for renewal of the card.
• Late payment charge: The penalty collected if the credit card payment is not made within the payment due date.
• Cash withdrawal: Charges for withdrawal of cash using the credit card.
• ECS of cheque dishonour charge: The charges collected when the ECS or the cheque issued is returned unpaid for want of funds.
• Foreign currency transactions: For foreign currency transactions made overseas. A percentage of the transaction which is stipulated by the bank and normally at 3.5% of the transaction amount will be charged. Concessions on this fee are given by many banks as a part of the privileges offered for a particular card.

A separate card issued to family members along with the primary card. The credit limit of the primary cardholder will be shared by the add-on cardholder and will have the same features of the primary card.  The reward points earned with the transactions made through the add-on card will be credited to the account of the primary card.

The moment you notice the loss or theft of the card, you will have to block the card by contacting the customer care helpline of the bank to avoid unauthorised usage of the card. Subsequently, you can place a request for a replacement card.

If the transactions including purchases made and the fees and charges collected on the card exceed the credit limit, a penalty will be charged on the overdrawn amount regularisation of the dues.

Yes. You can place a request for enhancement in the credit limit. You will have to give additional documents like the income document for appraisal. Also, your credit history and the payment of the existing credit card dues will also be considered while determining the enhanced limit.

If you pay an amount less than the total amount due as per the billing statement, then charges at 3.49% p.m. will be collected on the unpaid amount. The charge so collected is the finance charge.

Commercial credit card is issued only to business enterprises to manage their business expenses.

To purchase from Best Price Stores both online and offline a Best Price Membership is mandatory. The requirements to become a Best Price Member are:

• A valid licence issued by the State/Central Government or Local bodies to run the business.
• The membership will be granted to offices/schools/hospitals/public trusts etc., based on the valid business licence for self-consumption.
• The Best Price Membership can be submitted offline at the Membership Desk of any nearest store or online through the website www.bestprice.in or by writing to their Member Support Centre.
• An undertaking has to be given that the purchases are made for the purpose of the business and not for the personal requirement.

Conversion of big-ticket purchases into easy EMI is the EMI conversion on credit card debt. With HDFC Bank Credit any purchase over Rs. 10,000 can be converted to EMI.

If a dispute is raised by the cardholder for the charges appearing on the credit card statement, the refund or reversal of such charges made by the bank is charge-back.

The facility to pay the minimum amount due which is normally 5% of the total amount due on the credit card bill, and the balance carried over to the next billing cycle is known as revolving credit.